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Global Myopia Treatment Devices Market Share, Size, Trends, Analysis, Growth, Forecast: By Treatment: Corrective Lenses, Laser Eye Surgery, Lens Implant Surgery; By Product Type: Eyeglasses, Contact Lenses, Ortho-K Lenses, Phakic Intraocular Lenses, Others; By Distribution Channels; Regional Analysis; Supplier Landscape; 2023-2031

Global Myopia Treatment Devices Market Outlook

The global myopia treatment devices market is driven by the rising prevalence of myopia. The myopia treatment devices market is predicted to grow significantly due to the increasing awareness about the availability of myopia treatment and the launch of various advanced myopia devices. The market is expected to 14.5 billion by 2031 and is expected to grow at a CAGR of 9.1%.

 

Myopia Treatment Devices Market: Introduction and Insights

Myopia (near-sightedness) is a common visual disorder in which nearby objects are seen clearly but distant objects seem blurry. This happens when the shape of the eye does not bend the light rays correctly (refraction), causing the image to focus in front of the retina instead of the retina. 

 

Currently, it is not known why the eyeball stretches but we do know that there are other factors that contribute to myopia. Myopia or near-sightedness occurs because the eyeball is too long, and the cornea and lens are in focus. This means that distant objects appear blurry.

 

Myopia usually occurs in families, so if both parents are myopic, their children are more likely to develop myopia. Myopia is also caused by environmental factors which include reading, writing, or spending a lot of time in front of the computer.

 

The symptoms of myopia vary from person to person. Symptoms of myopia can include blurred vision when looking at distant objects, the need to squint or partially close the eyelids to see clearly, headaches caused by eyestrain, and difficulty seeing while driving, especially at night.

 

During a myopia test, several procedures may be used to measure how well the eye focuses light and to determine the power of any optical lenses needed to correct the vision impairment. Near-sightedness is diagnosed through a basic eye exam that includes a refractive evaluation and an eye health exam. Refractive evaluation determines whether you have vision problems, such as near-sightedness or farsightedness, astigmatism, or presbyopia.

 

Myopia has many options to restore the visible distance. Devices such as glasses, contact lenses, and ortho-K lenses used to slow the progression of myopia are called myopia treatment devices. Increasing incidences of distance vision deficiency due to uncorrected myopia and growing cases of vision loss are some of the growth factors that drive the growth of the myopia treatment devices market. 

 

The main cause of the market restraint is the excessive use of digital channels. Governments of different countries are focusing on improving patient flow, which is a major commercial challenge for the myopic treatment device market growth.

 

According to the myopia treatment devices market research report, the market can be categorised into the following segments: 

Market Breakup by Treatment

  • Corrective Lenses 
    • Prescription Lenses 
      • Single
      • Bifocal
      • Trifocal
      • Others
  • Laser Eye Surgery
  • Lens Implant Surgery

 

Market Breakup by Product Type

  • Eyeglasses
  • Contact Lenses
  • Ortho-K Lenses
  • Phakic Intraocular Lenses
  • Excimer Laser Refractive Surgery Devices

 

Market Breakup by End User

  • Hospitals
  • Speciality Clinics
  • Others

 

Myopia Treatment Devices Market Breakup by Region

  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others

 

Increase Prevalence of Myopia Propelling the Market Growth

The myopia treatment devices market is growing rapidly due to the growing number of cases of myopia around the world. The approval of various myopia treatment devices in different countries around the world to slow the progression of the disease is expected to expand the market growth in the coming years.

 

However, restrictions related to refractive surgery procedures and stringent regulatory approval procedures for myopia devices may hinder the growth of the myopia treatment devices market.

 

North America Dominating the Global Myopia Treatment Device Market

The North American region has dominated the global myopia treatment device market share due to the high prevalence of eye disease, growth in the medical tourism industry, and increasing geriatric population, while the Asia Pacific myopia market has experienced significant growth. This is due to the higher prevalence in the targeted group.

 

Furthermore, the increase in government initiatives to raise awareness of people in the region about the proper management of myopia is also a potential driver for myopia treatment devices market growth. 

 

Therapeutic Landscape of the Myopia Treatment Devices Market

Myopia is a serious health problem and its prevalence is likely to increase over time with the rising dependence of the people on smart devices. The main treatment options of monocular lenses, contact lenses, and refractive surgery, do not slow related ocular growth or slow the physiological changes associated with excessive axial elongation.

 

The high prevalence of myopia and its emergence as a public health problem underscores the importance of finding effective treatments to slow the progression of myopia and axial elongation. Treatments reviewed include various types of glasses and contact lenses, and medications, such as atropine and prelenzepine.

 

Most evidence from well-conducted studies suggests that most myopia treatments generally have a relatively short-term treatment benefit or a minor treatment benefit with significant side effects. Some therapies may be more effective in a subgroup of myopic children.

 

Treatment options that have potential include correcting peripheral refractive errors/aberrations and providing extended outdoor activities. Recent animal studies have shown that visual signals to the eye may not be essential for normal eye growth, as the peripheral retina regulates emmetropization and induces myopia in response to abnormal visual input.

 

Correction of peripheral refractive error/aberrations can be achieved by wearing specially designed contact lenses during the day or by orthokeratology. Much research is currently being done on these treatment options. All this research will lead to the growth of the myopia treatment devices market. 

 

Clinical Landscape  of the Myopia Treatment Devices Market

Controlling myopia has become one of the biggest challenges in the world today with increasing screen time. Myopia develops in children as the eyes continue to grow as the children age. Another cause of axial elongation is hypertrophic retinal opacity due to high retardation of adaptation during myopia. Several options are used to control myopia, including orthopaedic surgery, 1% atropine eye drops, executive bifocal, and progressive lens.

 

New approaches to combat myopia include Defocus Incorporated Multiple Segments (DIMS) and Highly Aspherical Lenslet Target (HALT) lenses. DIMS and HALT techniques use peripheral myopia blur treatment to control axial enlargement. In myopia, the central beam is in front of the retina, but the peripheral rays bypass the retina, causing hyperfocus imbalance and leading to the development of myopia. From smart designs to the latest information on atropine treatment, new knowledge, tools and devices can be used for the global myopia outbreak.

 

While extreme myopia puts you at risk of developing vision-threatening diseases, there are alternative treatment options that can help. 

 

Small Incision Lenticule Extraction (SMILE)- According to the American Academy of Ophthalmology, SMILE is a new type of laser refractive surgery approved by the Food and Drug Administration (FDA) for the treatment of mild myopia and astigmatism. 

 

Phakic Intraocular Lens (IOL)- According to the Food and Drug Administration, a phakic intraocular lens is an artificial lens that is implanted in front of or behind the iris of the eye. This procedure does not remove the natural lens. 

 

Orthotics (Ortho-K)- According to the American Academy of Ophthalmology, orthokeratology uses specially modified rigid contact lenses to reshape the cornea and improve myopia.

 

All these emerging technologies drive the myopia treatment device market.

 

Competitive Landscape

The report gives an in-depth analysis of the key players involved in the myopia treatment device market, sponsors manufacturing the drugs, and putting them through trials to get FDA approvals. The companies included in the market are as follows: 

 

  • CooperVision, Inc.  (Cooper Companies, Inc.)
  • Johnson & Johnson Services, Inc.
  • Essilor International
  • Bausch & Lomb Inc.
  • Lucid Korea Co., Ltd.
  • Euclid Systems Corp.
  • Nidek Co., Ltd.
  • Falco Linsen AG
  • Schwind Eye Tech Solutions GmbH
  • SynergEyes Inc. (Abb Optical Group)

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2016-2022
Forecast Period 2023-2031
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Treatment
  • Product Type
  • Distribution Channels
  • Region
Breakup by Treatment
  • Corrective Lenses
  • Laser Eye Surgery
  • Lens Implant Surgery
Breakup by Product Type
  • Eyeglasses
  • Contact Lenses
  • Ortho-K Lenses
  • Phakic Intraocular Lenses
  • Excimer Laser Refractive Surgery Devices
Breakup by Distribution Channels
  • Hospitals
  • Speciality Clinics
  • Others
Breakup by Region
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Supplier Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Mergers and Acquisitions
    • Certifications
Companies Covered
  • CooperVision, Inc.  (Cooper Companies, Inc.)
  • Johnson & Johnson Services, Inc.
  • Essilor International
  • Bausch & Lomb Inc.
  • Lucid Korea Co., Ltd.
  • Euclid Systems Corp.
  • Nidek Co., Ltd.
  • Falco Linsen AG
  • Schwind Eye Tech Solutions GmbH
  • SynergEyes Inc. (Abb Optical Group)
  • SightGlass Vision., Inc.

 

*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.

1    Preface
    1.1    Objectives of the Study
        1.1.1    Research Objectives
        1.1.2    Key Findings of the Report
    1.2    Limitations of the Study and Scope for Future Research
2    Research Methodology
3    Executive Summary
4    Global Myopia Treatment Devices Market

    4.1    Global Myopia Treatment Devices Market Overview
    4.2    Global Myopia Treatment Devices Market Analysis 
        4.2.1     Market Overview
            4.2.1.1    Global Myopia Treatment Devices Market Historical Value (2016-2022) 
            4.2.1.2    Global Myopia Treatment Devices Market Forecast Value (2023-2031)
    4.3    Global Myopia Treatment Devices Market by Treatment
        4.3.1    Market Overview
            4.3.1.1    Corrective Lenses
                4.3.1.1.1    Prescription Lenses
                    4.3.1.1.1.1    Single 
                    4.3.1.1.1.2    Bifocal
                    4.3.1.1.1.3    Trifocal
                    4.3.1.1.1.4    Others
            4.3.1.2    Laser Eye Surgery
            4.3.1.3    Lens Implant Surgery
    4.4    Global Myopia Treatment Devices Market by Product Type
        4.4.1    Market Overview
            4.4.1.1    Eyeglasses
            4.4.1.2    Contact Lenses
            4.4.1.3    Ortho-K Lenses
            4.4.1.4    Phakic Intraocular Lenses
            4.4.1.5    Excimer Laser Refractive Surgery Devices
    4.5    Global Myopia Treatment Devices Market by Distribution Channels
        4.5.1    Market Overview
            4.5.1.1    Hospitals
            4.5.1.2    Speciality Clinics
            4.5.1.3    Others
    4.6    Global Myopia Treatment Devices Market by Region
        4.6.1    Market Overview
            4.6.1.1    North America 
                4.6.1.1.1    Historical Trend (2016-2022)
                4.6.1.1.2    Forecast Trend (2023-2031)
            4.6.1.2    Europe
                4.6.1.2.1    Historical Trend (2016-2022)
                4.6.1.2.2    Forecast Trend (2023-2031)
            4.6.1.3    Asia Pacific
                4.6.1.3.1    Historical Trend (2016-2022)
                4.6.1.3.2    Forecast Trend (2023-2031)
            4.6.1.4    Latin America
                4.6.1.4.1    Historical Trend (2016-2022)
                4.6.1.4.2    Forecast Trend (2023-2031)
            4.6.1.5    Middle East and Africa
                4.6.1.5.1     Historical Trend (2016-2022)
                4.6.1.5.2    Forecast Trend (2023-2031)
5    North America Myopia Treatment Devices Market
    5.1    United States of America
        5.1.1    Historical Trend (2016-2022)
        5.1.2    Forecast Trend (2023-2031)
    5.2    Canada 
        5.2.1    Historical Trend (2016-2022)
        5.2.2    Forecast Trend (2023-2031)
6    Europe Myopia Treatment Devices Market
    6.1    United Kingdom
        6.1.1    Historical Trend (2016-2022)
        6.1.2    Forecast Trend (2023-2031)
    6.2    Germany
        6.2.1    Historical Trend (2016-2022)
        6.2.2    Forecast Trend (2023-2031)
    6.3    France
        6.3.1    Historical Trend (2016-2022)
        6.3.2    Forecast Trend (2023-2031)
    6.4    Italy
        6.4.1    Historical Trend (2016-2022)
        6.4.2    Forecast Trend (2023-2031)
7    Asia Pacific Myopia Treatment Devices Market
    7.1    China
        7.1.1    Historical Trend (2016-2022)
        7.1.2    Forecast Trend (2023-2031)
    7.2    Japan
        7.2.1    Historical Trend (2016-2022)
        7.2.2    Forecast Trend (2023-2031)
    7.3    India
        7.3.1    Historical Trend (2016-2022)
        7.3.2    Forecast Trend (2023-2031)
    7.4    ASEAN
        7.4.1    Historical Trend (2016-2022)
        7.4.2    Forecast Trend (2023-2031)
    7.5    Australia
        7.5.1    Historical Trend (2016-2022)
        7.5.2    Forecast Trend (2023-2031)
8    Latin America Myopia Treatment Devices Market
    8.1    Brazil
        8.1.1    Historical Trend (2016-2022)
        8.1.2    Forecast Trend (2023-2031)
    8.2    Argentina
        8.2.1    Historical Trend (2016-2022)
        8.2.2    Forecast Trend (2023-2031)
    8.3    Mexico
        8.3.1    Historical Trend (2016-2022)
        8.3.2    Forecast Trend (2023-2031)
9    Middle East and Africa Myopia Treatment Devices Market
    9.1    Saudi Arabia
        9.1.1    Historical Trend (2016-2022)
        9.1.2    Forecast Trend (2023-2031)
    9.2    United Arab Emirates
        9.2.1    Historical Trend (2016-2022)
        9.2.2    Forecast Trend (2023-2031)
    9.3    Nigeria
        9.3.1    Historical Trend (2016-2022)
        9.3.2    Forecast Trend (2023-2031)
    9.4    South Africa
        9.4.1    Historical Trend (2016-2022)
        9.4.2    Forecast Trend (2023-2031)
10    Trade Data Analysis by HS Code 
    10.1    Eyeglasses- 90049010
    10.2    Contact Lenses- 90013000
11    Current Scenario Evaluation and Regulatory Framework
    11.1    Emerging Therapies and Clinical Trials Synopsis
    11.2    Patent Landscape
        11.2.1    Patent Overview
            11.2.1.1    Patent Status and Expiry
            11.2.1.2    Timelines from Device Development to Commercial Launch
            11.2.1.3    New Device Application
                11.2.1.3.1    Documentation and Approval Process
    11.3    Cost of Treatment
    11.4    Regulatory Framework
        11.4.1    Regulatory Overview
            11.4.1.1    US FDA
            11.4.1.2    EU EMA
            11.4.1.3    INDIA CDSCO
            11.4.1.4    JAPAN PMDA
            11.4.1.5    Others
12    Global Myopia Treatment Devices Market Dynamics
    12.1    Market Drivers and Constraints
    12.2    Porter’s Five Forces Model 
    12.3    SWOT Analysis
    12.4    Key Demand Indicators 
    12.5    Key Price Indicators 
    12.6    Industry Events, Initiatives and Trends
    12.7    Value Chain Analysis
13    Supplier Landscape
    13.1    CooperVision, Inc.  (Cooper Companies, Inc.)
        13.1.1    Company Overview
        13.1.2    Product Portfolio
        13.1.3    Demographic Reach and Achievements
        13.1.4    Mergers and Acquisitions
        13.1.5    Certifications
    13.2    Johnson & Johnson Services, Inc.
        13.2.1    Company Overview
        13.2.2    Product Portfolio
        13.2.3    Demographic Reach and Achievements
        13.2.4    Mergers and Acquisitions
        13.2.5    Certifications
    13.3    Essilor International
        13.3.1    Company Overview
        13.3.2    Product Portfolio
        13.3.3    Demographic Reach and Achievements
        13.3.4    Mergers and Acquisitions
        13.3.5    Certifications
    13.4    Bausch & Lomb Inc.
        13.4.1    Company Overview
        13.4.2    Product Portfolio
        13.4.3    Demographic Reach and Achievements
        13.4.4    Mergers and Acquisitions
        13.4.5    Certifications
    13.5    Lucid Korea Co., Ltd.
        13.5.1    Company Overview
        13.5.2    Product Portfolio
        13.5.3    Demographic Reach and Achievements
        13.5.4    Mergers and Acquisitions
        13.5.5    Certifications
    13.6    Euclid Systems Corp.
        13.6.1    Company Overview
        13.6.2    Product Portfolio
        13.6.3    Demographic Reach and Achievements
        13.6.4    Mergers and Acquisitions
        13.6.5    Certifications
    13.7    Nidek Co., Ltd.
        13.7.1    Company Overview
        13.7.2    Product Portfolio
        13.7.3    Demographic Reach and Achievements
        13.7.4    Mergers and Acquisitions
        13.7.5    Certifications
    13.8    Falco Linsen AG
        13.8.1    Company Overview
        13.8.2    Product Portfolio
        13.8.3    Demographic Reach and Achievements
        13.8.4    Mergers and Acquisitions
        13.8.5    Certifications
    13.9    Schwind Eye Tech Solutions GmbH
        13.9.1    Company Overview
        13.9.2    Product Portfolio
        13.9.3    Demographic Reach and Achievements
        13.9.4    Mergers and Acquisitions
        13.9.5    Certifications
    13.10    SynergEyes Inc. (Abb Optical Group)
        13.10.1    Company Overview
        13.10.2    Product Portfolio
        13.10.3    Demographic Reach and Achievements
        13.10.4    Mergers and Acquisitions
        13.10.5    Certifications
    13.11    SightGlass Vision., Inc.
        13.11.1    Company Overview
        13.11.2    Product Portfolio
        13.11.3    Demographic Reach and Achievements
        13.11.4    Mergers and Acquisitions
        13.11.5    Certifications
14    Recommendations and Discussion 
15    Pricing Models and Strategies (Additional Insight)

    15.1    Cost Model
        15.1.1    Manufacturing Cost Analysis
        15.1.2    Procurement Cost Analysis
        15.1.3    Clinical Trial Cost Factors
    15.2    Pricing Strategies
        15.2.1    Competitor Pricing Analysis
        15.2.2    Key Assessment of Product Attributes
        15.2.3    Pricing Benchmark
16     Global Myopia Treatment Devices Distribution Model (Additional Insight)
    16.1    Overview
    16.2    Potential Distributors
    16.3    Key Parameters for Distribution Partner Assessment

 

*Additional insights provided are customisable as per client requirements.

Key Questions Answered in the Report

In 2022, myopia disease affected more than 2.7 billion people worldwide.

The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific, with North America accounting for the largest share of the market.

The global market can be divided into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. Among these, North America has been dominating the market share because of the high prevalence of eye diseases, growth in the medical tourism sector, and increase in geriatric population.

Factors that drive the myopia treatment device market size include the growing prevalence of genetic diseases worldwide, which will expand the demand for myopia treatment devices.

Myopia disease is extremely common due to the increasing dependence on smart devices and gadgets leading to increased screen time, along with other genetic and environmental factors.

Laser-assisted in situ keratomileusis (LASIK) is the most common treatment for myopia disease.

CooperVision, Inc., Johnson & Johnson Services, Inc., Essilor International, Bausch & Lomb Inc., Lucid Korea Co., Ltd., Euclid Systems Corp., Nidek Co., Ltd., Falco Linsen AG, Schwind Eye Tech Solutions GmbH, and SynergEyes Inc. are the key players in the myopia treatment device market.

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