Myopia And Presbyopia Market Bwc20040

Global Myopia and Presbyopia Market by Treatment Type (Corrective, Surgical, and drug) By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa); Trend Analysis, Competitive Market Share & Forecast, 2016-26
- Published Date: April 2020
- Report ID: BWC20040
- Available Format: PDF
- Page: 161
Report Overview
Global Myopia and Presbyopia Market
Forecast and Trends
Global Myopia Treatment
Market has gained the momentum in recent years with a CAGR of 6.90%, in value
terms, over the forecast period 2020-2026, and expected to reach at USD 14.80
Billion by 2026. Increasing cases of vision loss largely due to myopia coupled
with rising incidence of distance vision impairment due to uncorrected myopia,
are some of the major factors expected to drive the growth.
Global Presbyopia Treatment
Market has gained the momentum in recent years with a CAGR of
7.35%, in value terms, over
the forecast period 2020-2026. Growing prevalence of presbyopia cases globally
is creating immense opportunities for industry players to develop effective
treatment solutions. Among the developed nations, the U.S. is experiencing a
significant increase in the incidence of presbyopia, especially in people above
age of 40
Global Myopia and Presbyopia
Market: Overview
Myopia (also called
nearsightedness) is the most common cause of impaired vision in people under
age 40. Myopia is an ocular disorder where the optical power of the eye is too
high for the corresponding axial length. Light rays from an infinity object
entering a non-accommodating myopic eye are too tightly converged and centered
in front of the retina. The size of a myope is located in front of the eye,
between the cornea and the optical infinity.
The uncorrected myope's
visual acuity will continue to decrease as objects are located farther away
from the far point and closer to the optical infinity. In comparison, visual
acuity is greater for objects located between the distance of the eye and the
nearest accommodation point.
Symptoms: The most common symptom of
myopia is decreased distance vision. Patients with pathologic myopia may also
report visual distortion secondary to retinal pathology.
Causes: Myopia occurs when
the eyeball is too long, compared to the cornea's focusing power and the eye
lens. It allows the light rays to focus on their surface at a point in front of
the eye, rather than directly.
Presbyopia is a condition
associated with eye aging that leads to a gradual loss of the ability to
clearly focus on close objects. Symptoms include difficulty reading small
printing, having to keep reading material at a distance, headaches and
eyesight.
Presbyopia is the gradual
loss of the ability of eyes to focus on nearby objects. It is a natural
part of aging, sometimes irritating. Presbyopia usually gets apparent in early
to mid-40s and tends to get worse until about 65 years of age.
Symptoms: Presbyopia develops gradually. Patient may first notice these signs and symptoms after age 40:
Ø A
tendency to hold reading material farther away to make the letters clearer
Ø Blurred vision at normal reading distance
Ø Eyestrain or headaches after reading or doing close-up work.
Growth drivers
Rising Technological
Advancement
Myopia Treatment .
LASIK surgery is commonly
accepted as one of the surgical procedures for the treatment of myopia and
owing to its permanent nature and minimally invasive procedure is expected to
witness substantial growth during the forecast era. The factors expected to
drive segment growth are the growing use of advanced intraoperative imaging and
technology along with developments in surgical instruments with artificial
intelligence and robot assisted surgeries.
Presbyopia Treatment
LASIK is a commonly known
surgical treatment for the presbyopia treatment. The surgery includes the
reshaping of the cornea to improve hyperopia or farsightedness. It is predicted
that high prevalence of these conditions coupled with increasing demand for
LASIK surgery would fuel market growth during the forecast period.
Technologically advanced approaches help to significantly reduce the mean
turnaround time for ophthalmic surgeries.
Rising prevalence rate of
myopia & presbyopia
The incidence of myopia
varies by country and ethnic group according to epidemiologic evidence In some
Asian countries, youth in urban areas of Singapore, China, Japan, South Korea,
Taiwan and Hong Kong reached as high as 70-90%.
Myopia : The prevalence of
pathological myopia in population-based research moderate to high in comparison
with presbyopia & it is estimated at 1-3%. This is a tremendous economic
cost to society, in addition to the human cost of visual disability. As the prevalence
of simple myopia increases, the incidence of pathological myopia may also
increase.
Presbyopia : Presbyopia prevalence is
higher in societies where there is a survival of larger proportions of the
population into old age. With the aging of the U.S. population, unprecedented
numbers of presbyopia patients can be expected to present to the offices of
optometrists in the coming years.
Restraint
High Cost associated with
treatments
High cost of myopia &
presbyopia treatment is one of the key factor expected to hamper market growth
in upcoming years. The treatment via. Surgery, medicine or contact lenses
varies in terms of price and patient condition. The annual direct average cost
of myopia correction for Asian adults has been estimated at US $328
billion/annum. The cost of care is also likely to increase significantly,
exacerbated by an even greater increase in the prevalence of high myopia. In
terms of surgery, the average cost of LASIK surgery performed in the
United States in 2019 was $2,246 per eye and
includes consultations, aftercare and access to outstanding facilities.
In addition for LASIK surgery unsuitable patient often are 40 and older, as
patient have presbyopia, where the lens of the eye becomes stiff and hinders
close-up vision. Contact lenses can cost varies from between $150 and $1,500 a
year, depending on the brand, type, and patient insurance coverage plan. Rigid
Gas Permeable contacts with lenses typically cost more than disposable contacts
as they are approved to be reused every day for up to one year. RGP contacts
average cost about $100 per lens, so $200 for a pair. Discount retailers may
offer these lenses at as low as $30 per lens, and often offer incentives and
lower prices for bulk purchases. Insurance could help offset those costs. Costs
can differ from brand to brand, and for lenses of speciality. Contacts intended
for treating astigmatism or corneal refractive therapy that cost more than
those for myopia corrections.
Global Myopia and Presbyopia
Market: Treatment Type
The myopia treatment market
is divided into corrective, surgical, and drugs segment. The corrective segment
is further subdivided into prescription lenses and contact lenses. In Situ Keratomileusis
(LASIK), Laser Epithelial Keratomileusis (LASEK), and Photorefractive
Keratectomy (PRK) and others are included in the surgical section. Due to an
growing prevalence of myopia in developing countries, the prescription lenses
segment held the largest share in the myopia treatment market in 2019. Rising
patient pool is projected to contribute to the growing demand for corrective
lenses. LASIK surgery is largely adopted as one of the surgical procedures for
the treatment of myopia, Increasing availability of advanced equipment and
decreasing services costs are expected to boost the demand for surgeries during
the forecast period.
By presbyopia treatment type, the market is divided into corrective, surgical, and drugs. Corrective segment is further divided into prescription and contact intraocular lenses. Contact lens consist bifocal, multifocal, monovision, and modified monovision. Conductive Keratoplasty, LASIK, LASEK, and PRK are effective refractive surgical procedures used for the presbyopia treatment in the global market. Prescription lenses expected to be the fastest growing segment over the forecast period owing to increasing preference for presbyopia correction. They are widely accepted due to aesthetic and visual advantages, such as image clarity while rejecting image jumping during eye movements. In addition, innovations, such as multifocals with anti-reflexive coating and photochromic lenses, are also expected to propel the segment growth.
Global Myopia and Presbyopia Market: Regional
Insights
Based on region, the global Myopia and Presbyopia market
segmented into North America, Europe, Asia Pacific, Latin America, and Middle
East & Africa.
Myopia
North America is expected to hold the largest market share due
to the availability of advanced technologies for the treatment of targeted
disorders coupled with the presence of a large number of market players in the
region. Over the forecast period.
Presbyopia
Followed by North America, Asia Pacific is projected to be the fastest growing area due to a rapid increase in geriatric population, high prevalence of eye diseases, and increasing medical tourism. North America projected to hold largest share in the market with the market size of USD 1.66 Billion in 2019 and expected to witness Market size of USD 2.65 Billion in 2026 at a CAGR of 7.00% during 2020-2026 forecast period.
Competitive Landscape
The leading companies of Myopia and Presbyopia Market are Alcon Vision LLC, Johnson & Johnson Vision, Bausch Health Companies Inc. (Bausch & Lomb), Cooper Companies, Inc. (CooperVision), Carl Zeiss Meditec AG, EssilorLuxottica SA , Nidek Co. Ltd. , Topcon Corporation , Ziemer Ophthalmic Systems AG , Haag-Streit UK Ltd (Metall Zug AG) , and other prominent players.
Recent
Development
Ø December 3, 2019
: Johnson & Johnson Vision Launches TECNIS Toric II 1-Piece IOL as a new
monofocal alternative for astigmatised cataract patients; conducting
multi-center, post-market clinical trials across the United States.
Ø March 2019, Company acquired certain assets of Synergy Pharmaceuticals Inc., a biopharmaceutical company focused on gastrointestinal therapies. Synergy’s flagship product, TRULANCE®, is approved for adults with chronic idiopathic constipation and irritable bowel syndrome with constipation.
Scope of the Report
Attribute |
Details |
Years
Considered |
Historical data – 2016-2019 Base Year – 2019 Forecast –
2020 – 2026 |
Facts Covered |
Revenue in USD Million |
Market Coverage |
U.S, Canada, Germany, UK,
France, Italy, Spain, Brazil, Mexico, Argentina, Japan, South Korea, China,
India, UAE, South Africa, Saudi Arabia |
Product/Service Segmentation |
By Treatment Type with Region. |
Key Players |
By Treatment
Ø Surgical
Ø Corrective
Ø Prescription Lenses
Ø Contact Lenses
Ø Drug
By Region:
Ø North America
Ø Europe
Ø Asia Pacific
Ø Latin America
Ø Middle East & Africa
The objective of the Study:
Ø To analyze and forecast the global Myopia and
Presbyopia Market size of the market in terms of value.
Ø To examine the careful market segmentation and
forecast the market size, in terms of value, based on the region by segmenting.
Ø The Global Myopia and Presbyopia Market segmented
into five regions, namely, North America, Europe, Asia Pacific, Latin America,
Middle East & Africa and their leading countries.
Ø To outline, categorized, and forecast the global Myopia
and Presbyopia Market based on the leasing type, aircraft type, and security
type.
Ø To examine competitive developments like
technological advancement, services, and regulative framework within the global
Myopia and Presbyopia Market.
Ø To highlight the impact analysis of the factors
affecting the market dynamics such as drivers, restraints, opportunities, and
challenges.
Ø To strategically profile the key players and comprehensively analyze their market shares along with detailing the competitive landscape for market leaders.
Key
Opinion Participant
Ø Key executive and strategy growth manager
Ø End users
Ø Government institutions/Hospitals/Clinics
Ø Consultancy firms
1.
Research Framework
1.1.
Research Objective
1.2.
Product Overview
1.3.
Market Segmentation
2.
Research
Methodology
2.1.
Qualitative
Research
2.1.1. Primary & Secondary Sources
2.2.
Quantitative
Research
2.2.1. Primary & Secondary Sources
2.3.
Breakdown of
Primary Research Respondents, By Region
2.3.1. Secondary Research
2.3.2. Primary Research
2.4.
Breakdown of
Primary Research Respondents
2.5.
Market Size
Estimation
2.6.
Assumption
for the Study
2.7.
Market
Breakdown & Data Triangulation
3.
Executive Summary
4.
Global Myopia and
Presbyopia Industry Insights
4.1.
Industry Value Chain Analysis
4.2.
DROC Analysis
4.2.1. Growth Drivers
4.2.2. Restraints
4.2.3. Opportunities
4.2.4. Challenges
4.3.
Technological Landscape/Recent
Development
4.4.
Company Market Share Analysis, 2019
4.5.
Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Intensity of Rivalry
5.
Global Myopia Market Overview
5.1.
Market Size & Forecast by
Value, 2016-2026
5.1.1. By Value (USD Billion)
5.2.
Market Share
& Forecast
5.2.1. By Treatment
5.2.1.1.
Surgical
5.2.1.2.
Corrective
5.2.1.2.1.
Prescription Lenses
5.2.1.2.2.
Contact Lenses
5.2.1.3.
Drug
5.2.2. By Region
5.2.2.1. North America
5.2.2.2. Europe
5.2.2.3. Asia Pacific
5.2.2.4. Latin America
5.2.2.5. Middle East & Africa
6.
North America Myopia Market
6.1.
Market Size & Forecast by
Value, 2016-2026
6.1.1. By Value (USD Billion)
6.2.
Market Share
& Forecast
6.2.1. By Treatment Type
6.2.2. By Country
6.2.2.1. United States
6.2.2.2. Canada
7.
Europe Myopia Market
7.1.
Market Size & Forecast by
Value, 2016-2026
7.1.1. By Value (USD Billion)
7.2.
Market Share
& Forecast
7.2.1. By Treatment Type
7.2.2. By Country
7.2.2.1. Germany
7.2.2.2. United Kingdom
7.2.2.3. France
7.2.2.4. Italy
7.2.2.5. Spain
7.2.2.6. Rest of Europe
8.
Asia Pacific Myopia Market
8.1.
Market Size & Forecast by
Value, 2016-2026
8.1.1. By Value (USD Billion)
8.2.
Market Share
& Forecast
8.2.1. By Treatment Type
8.2.2. By Country
8.2.2.1. China
8.2.2.2. India
8.2.2.3. Japan
8.2.2.4. Rest of Asia Pacific
9.
Latin America Myopia Market
9.1.
Market Size & Forecast by
Value, 2016-2026
9.1.1. By Value (USD Billion)
9.2.
Market Share
& Forecast
9.2.1. By Treatment Type
9.2.2. By Country
9.2.2.1. Brazil
9.2.2.2. Mexico
9.2.2.3. Argentina
9.2.2.4. Rest of Latin America
10.Middle East & Africa Myopia Market
10.1. Market Size & Forecast by Value, 2016-2026
10.1.1. By Value (USD Billion)
10.2. Market Share & Forecast
10.2.1. By Treatment Type
10.2.2. By Country
10.2.2.1. Saudi Arabia
10.2.2.2. UAE
10.2.2.3. South Africa
10.2.2.4. Rest of Middle East & Africa
11.Global Presbyopia Market Overview
11.1.
Market Size & Forecast by
Value, 2016-2026
11.1.1.
By Value
(USD Billion)
11.2.
Market Share
& Forecast
11.2.1.
By Treatment
11.2.1.1. Surgical
11.2.1.2. Corrective
11.2.1.2.1. Prescription Lenses
11.2.1.2.2. Contact Lenses
11.2.1.3. Drug
11.2.2.
By Region
11.2.2.1. North America
11.2.2.2. Europe
11.2.2.3. Asia Pacific
11.2.2.4. Latin America
11.2.2.5. Middle East & Africa
12.North America Presbyopia Market
12.1.
Market Size & Forecast by
Value, 2016-2026
12.1.1.
By Value
(USD Billion)
12.2.
Market Share
& Forecast
12.2.1.
By Treatment Type
12.2.2.
By Country
12.2.2.1. United States
12.2.2.2. Canada
13.Europe Presbyopia Market
13.1.
Market Size & Forecast by
Value, 2016-2026
13.1.1.
By Value
(USD Billion)
13.2.
Market Share
& Forecast
13.2.1.
By Treatment Type
13.2.2.
By Country
13.2.2.1. Germany
13.2.2.2. United Kingdom
13.2.2.3. France
13.2.2.4. Italy
13.2.2.5. Spain
13.2.2.6. Rest of Europe
14.Asia Pacific Presbyopia Market
14.1.
Market Size & Forecast by
Value, 2016-2026
14.1.1.
By Value
(USD Billion)
14.2.
Market Share
& Forecast
14.2.1.
By Treatment Type
14.2.2.
By Country
14.2.2.1. China
14.2.2.2. India
14.2.2.3. Japan
14.2.2.4. Rest of Asia Pacific
15.Latin America Presbyopia Market
15.1.
Market Size & Forecast by
Value, 2016-2026
15.1.1.
By Value
(USD Billion)
15.2.
Market Share
& Forecast
15.2.1.
By Treatment Type
15.2.2.
By Country
15.2.2.1. Brazil
15.2.2.2. Mexico
15.2.2.3. Argentina
15.2.2.4. Rest of Latin America
16.Middle East & Africa Myopia Presbyopia Market
16.1. Market Size & Forecast by Value, 2016-2026
16.1.1. By Value (USD Billion)
16.2. Market Share & Forecast
16.2.1. By Treatment Type
16.2.2. By Country
16.2.2.1. Saudi Arabia
16.2.2.2. UAE
16.2.2.3. South Africa
16.2.2.4. Rest of Middle East & Africa
17.Company Profile (Company
Overview, Financial Matrix, Key Product landscape, Key Personnel, Key
Competitors, Contact Address, and Strategic Outlook) *
17.1.
Alcon Vision LLC
17.2.
Johnson & Johnson Vision
17.3.
Bausch Health Companies Inc. (Bausch
& Lomb)
17.4.
Cooper Companies, Inc. (CooperVision),
17.5.
Carl Zeiss Meditec AG
17.6.
EssilorLuxottica SA
17.7.
Nidek Co. Ltd.
17.8.
Topcon Corporation
17.9.
Ziemer Ophthalmic Systems AG
17.10. Haag-Streit UK Ltd (Metall Zug AG)
17.10. Other prominent players
* Financial details in case of
unlisted companies will be available as per data availability
**The segmentation and the
companies are subjected to modifications based on in-depth secondary for the
final deliverable
Market Segmentation
By Treatment
Ø Surgical
Ø Corrective
Ø Prescription Lenses
Ø Contact Lenses
Ø Drug
By Region:
Ø North America
Ø Europe
Ø Asia Pacific
Ø Latin America
Ø Middle East &
Africa
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