South Korea Myopia and Presbyopia Treatment Market to Grow at a CAGR of 7.0% During 2024-2032, Aided by a Rise in Conditions Like Diabetes

A key factor propelling the South Korea myopia and presbyopia treatment market expansion is the nation's ageing demographic. South Korea is undergoing a substantial shift, with a growing elderly population. As people age, the prevalence of presbyopia, a common age-related vision condition, rises proportionally. This translates to an increased demand for effective treatments for presbyopia and associated vision issues.

 
South Korea faces a growing public health concern with the rising prevalence of diabetes. This has a concerning downstream impact on eye health, particularly leading to diabetic retinopathy.  As diabetes rates climb, so too does the need for specialised ophthalmic care to manage diabetic eye complications. This increasing demand for treatments, including those for conditions like myopia, is expected to significantly drive growth within the market in the coming years.

Further, the dependency on digital devices in modern life has resulted in a significant rise in screen time, encompassing both work and leisure pursuits. This extended exposure to screens can lead to a variety of vision problems, including digital eye strain, increased myopia progression, and other complications. In South Korea, where the population boasts a high degree of digital connectivity, there is a growing demand for solutions to combat the negative effects of excessive screen time. This has fuelled the market for treatments addressing both myopia and presbyopia.

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Market Breakup by Disease Type and Treatment Type:

• On the basis of the disease type, the market is bifurcated into myopia and presbyopia.

• The market can be segmented based on treatment type into prescription lenses, contact lenses, intraocular lenses, refractive surgery, and drugs.

Key Findings of the Report:

• South Korea faces a rapidly ageing population. By 2025, it is expected to become a "super-aged society," with over one-fifth of its citizens exceeding 65 years old. This figure is expected to climb even higher, reaching almost half the population by 2050, surging the prevalence of myopia and presbyopia. 

• The shift towards a work-from-home environment has led to a notable increase in screen time, as individuals spend extended hours using computers, laptops, and smartphones. This trend is accompanied by growing concerns about a corresponding rise in myopia, commonly referred to as nearsightedness. 

• Further, South Korea has emerged as a leader in advanced ophthalmic surgical techniques, providing patients with a wider range of vision correction options. Innovative procedures like LASIK (Laser-Assisted In Situ Keratomileusis) and SMILE (Small Incision Lenticule Extraction) have become increasingly popular due to their minimally invasive nature and potential for faster recovery times, aiding the South Korea myopia and presbyopia treatment market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the South Korea myopia and presbyopia treatment market for the periods (2017-2023) and (2024-2032). 

• The report also offers historical (2017-2023) and forecast (2024-2032) market information for disease type and treatment type.

• The report analyses the market dynamics, covering the key demand and price indicators in the market along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the South Korea myopia and presbyopia treatment market are Johnson & Johnson Vision, T Korea Solution Co., Ltd., Alcon Inc., AbbVie, and HOYA Corporation, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

Key Highlights of the Report

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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.