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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 growth of the global myopia treatment devices market is driven by the rising prevalence of myopia. The market attained a value of about USD 6.61 billion in 2022. The market is anticipated to rise at a CAGR of 9.10% during the forecast period of 2023-2031 to attain a value of USD 14.59 billion by 2031.
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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:
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Market Breakup by Treatment
- Corrective Lenses
- Prescription Lenses
- Single
- Bifocal
- Trifocal
- Others
- Prescription Lenses
- 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
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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:
|
| Breakup by Treatment |
|
| Breakup by Product Type |
|
| Breakup by Distribution Channels |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
*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
The market attained a value of about USD 6.61 billion in 2022, driven by the rising prevalence of myopia.
The market is anticipated to rise at a CAGR of 9.10% during the forecast period of 2023-2031 to attain a value of USD 14.59 billion by 2031.
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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