Myopia Treatment Market Size, Share, Trends, Growth and Forecast 2032

Myopia Treatment Market

Myopia Treatment Market By Treatment Type (Vision Therapy, Glasses, Refractive Surgery, Ortho-K, Contact Lenses, and Myopia Control Eye Drops), By End-User (Specialty Clinics, Refractive Surgery Centers, and Hospitals & Clinics), By Age Group (Adult Myopia and Childhood Myopia) and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2024 - 2032

Category: Healthcare Report Format : PDF Pages: 225 Report Code: ZMR-9100 Published Date: Dec-2024 Status : Published
Market Size in 2023 Market Forecast in 2032 CAGR (in %) Base Year
USD 18 Billion USD 41 Billion 8.40% 2023

Myopia Treatment Industry Prospective:

The global myopia treatment market size was evaluated at $18 billion in 2023 and is slated to hit $41 billion by the end of 2032 with a CAGR of nearly 8.40% between 2024 and 2032.

Global Myopia Treatment Market SizeRequest Free Sample

Myopia Treatment Market: Overview

Myopia, also known as nearsightedness, is a ubiquitous refractive error in which distant objects appear blurred due to the eye's inability to focus on light appropriately on the retina. Moreover, the condition can occur due to excessive refractive power of the cornea. Various treatment options are available to proficiently manage myopia. They include eyeglasses, surgical alternatives, contact lenses, vision treatment, and pharmaceutical therapies.

Key Insights

  • As per the analysis shared by our research analyst, the global myopia treatment market is projected to expand annually at the annual growth rate of around 8.40% over the forecast timespan (2024-2032)
  • In terms of revenue, the global myopia treatment market size was evaluated at nearly $18 billion in 2023 and is expected to reach $41 billion by 2032.
  • The global myopia treatment market is anticipated to grow rapidly over the forecast timeline owing to an increase in the incidences of myopia among the youth population due to inactive lifestyles.
  • In terms of treatment type, the myopia control eye drops segment is slated to register the highest CAGR over the forecast period.
  • Based on end-user, the hospitals & clinics segment is predicted to contribute majorly towards global industry surge in the ensuing years.
  • On the basis of age group, the childhood myopia segment is projected to lead the segmental surge in the coming eight years.
  • Region-wise, the North American myopia treatment industry is projected to register the fastest CAGR during the assessment timespan.

Myopia Treatment Market: Growth Factors

A surge in the myopia cases among youth to scale up the global market expansion over 2024-2032

An increase in the incidences of myopia among the youth population due to inactive lifestyles has proliferated in the growth of the global myopia treatment market. Breakthroughs in myopia treatment, such as new laser correction methods and orthokeratology lenses, will steer the global market space.

Moreover, growing awareness about myopia and its treatment methods is likely to drive the growth of the global market. In addition to this, an increase in the aging populace prone to myopia has culminated in a humungous expansion of the global market. An increase in economic growth and per capita income is likely to augment the market surge globally. Rise in the investments in research projects related to the launch of new modes of myopia treatment is expected to translate into a massive expansion of the market globally.

Myopia Treatment Market: Restraints

Escalating price of myopia treatment can put brakes on the global industry surge over 2024-2032

Rising cost of treating myopia, along with side effects caused by refractive surgery used for treating myopia, can obstruct the growth of the global myopia treatment industry. Apart from this, strict laws related to approval of new myopia treatments along with easy access to alternative treatments can put brakes on the global industry surge.

Myopia Treatment Market: Opportunities

Supportive government programs and focus on research to boost the global market expansion over forecast period

Favorable government schemes and awareness about health issues caused by myopia have opened a plethora of growth avenues for the global myopia treatment market. Easy access to new myopia treatment tools, even in emerging economies, can proliferate the global market size.

Myopia Treatment Market: Challenges

Less supply of expertise in the myopia treatment domain can challenge the global industry surge by 2032

Lack of availability of skilled persons and complications arising post-surgeries can create hurdles in the growth path of the global myopia treatment industry. Apart from this, economic downturns affecting customer spending on healthcare can severely impact the growth of the industry globally.

Myopia Treatment Market: Report Scope

Report Attributes Report Details
Report Name Myopia Treatment Market
Market Size in 2023 USD 18 Billion
Market Forecast in 2032 USD 41 Billion
Growth Rate CAGR of 8.40%
Number of Pages 225
Key Companies Covered Haag-Streit Holding, Bausch Health Companies Inc., Carl Zeiss AG, Alcon, Sydnexis Inc., Johnson & Johnson Vision, AbbVie, CooperVision Topcon Corporation, NIDEK CO. LTD, Essilor Ltd., Ziemer Ophthalmic Systems AG, Regeneron Pharmaceuticals Inc., Eyenovia Inc., and others.
Segments Covered By Treatment Type, By End-User, By Age Group, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2023
Historical Year 2018 to 2022
Forecast Year 2024 - 2032
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Myopia Treatment Market: Segmentation

The global myopia treatment market is divided into treatment type, end-user, age group, and region.                                  

In terms of treatment type, the myopia treatment market across the globe is segmented into vision therapy, glasses, refractive surgery, ortho-K, contact lenses, and myopia control eye drops segments. Apparently, the myopia control eye drops segment, which accrued approximately 46% of the global market proceeds in 2023, is anticipated to account for the fastest CAGR in the next couple of years as a result of the effectiveness of myopia control eye drops in controlling myopia growth.

Based on end-user, the global myopia treatment industry is sectored into specialty clinics, refractive surgery centers, and hospitals & clinics segments. Furthermore, the hospitals & clinics segment, which led the global industry growth in 2023, is projected to contribute lucratively towards the global industry elevation over 2024-2032. This can be due to the easy availability of strong healthcare infrastructure facilities in hospitals & clinics for treating patients. Reportedly, hospitals & clinics provide comprehensive eye care services to patients that include vision diagnosis, treatment, and monitoring, as well as post-care eye services to patients.

In terms of age group, the global myopia treatment market is sectored into adult myopia and childhood myopia segments. Moreover, the childhood myopia segment, which led the global industry in 2023, is likely to lead the segmental surge over the assessment period owing to a prominent increase in the occurrence of myopia among children, along with the need for medical intervention for slowing down myopia growth in children.

Myopia Treatment Market: Regional Insights

Asia-Pacific is projected to maintain leading position in the global market over the analysis timeframe

Asia-Pacific, which accounted for about 48% of the global myopia treatment market size in 2023, is expected to establish a leadership post in the global market during the forecast period. In addition, the regional market progress in the coming eight years can be credited to the rise in the cases of myopia witnessed in countries such as China, India, Bangladesh, Bhutan, and Taiwan. Apart from this, surging awareness about myopia risks and the significance of early detection and treatment of myopia in the region will steer the regional market growth.

The North American myopia treatment industry is anticipated to register the highest CAGR in the expected timeline. The swift upsurge of the industry in North America can be credited to the availability of robust healthcare infrastructure facilities in countries such as the U.S., along with easy access to experts in the country. In addition to this, technological breakthroughs in ophthalmology and constant innovations in myopia treatment methods will elevate the growth graph of the industry in the region.

Myopia Treatment Market: Competitive Space

The global myopia treatment market profiles key players such as:

  • Haag-Streit Holding
  • Bausch Health Companies Inc.
  • Carl Zeiss AG
  • Alcon
  • Sydnexis Inc.
  • Johnson & Johnson Vision
  • AbbVie
  • CooperVision Topcon Corporation
  • NIDEK CO. LTD
  • Essilor Ltd.
  • Ziemer Ophthalmic Systems AG
  • Regeneron Pharmaceuticals Inc.
  • Eyenovia Inc.

The global myopia treatment market is segmented as follows:

By Treatment Type

  • Vision Therapy
  • Glasses
  • Refractive Surgery
  •  Ortho-K
  • Contact Lenses
  •  Myopia Control Eye Drops

By End-User

  • Specialty Clinics
  • Refractive Surgery Centers
  • Hospitals & Clinics

By Age Group

  • Adult Myopia
  •  Childhood Myopia

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Myopia, also referred to as near-sightedness, is a ubiquitous refractive error where distant objects appear as blur owing to the inability of the eye to focus on light appropriately on the retina. Moreover, the condition can occur due to excessive refractive power of the cornea.

The global myopia treatment market's growth over the forecast period can be attributed to breakthroughs in myopia treatment, such as new laser correction methods and orthokeratology lenses.

According to a study, the global myopia treatment industry size was $18 billion in 2023 and is projected to reach $41 billion by the end of 2032.

The global myopia treatment market is anticipated to record a CAGR of nearly 8.40% from 2024 to 2032.

The North American myopia treatment industry is set to register the fastest CAGR over the forecasting timeframe owing to the availability of robust healthcare infrastructure facilities in countries such as the U.S. and easy access to experts in the country. In addition to this, technological breakthroughs in ophthalmology and constant innovations in myopia treatment methods will elevate the industry's growth graph in the region.

The global myopia treatment market is led by players such as Haag-Streit Holding, Bausch Health Companies Inc., Carl Zeiss AG, Alcon, Sydnexis Inc., Johnson & Johnson Vision, AbbVie, CooperVision Topcon Corporation, NIDEK CO., LTD, Essilor Ltd., Ziemer Ophthalmic Systems AG,  Regeneron Pharmaceuticals Inc., and Eyenovia, Inc.

The global myopia treatment market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, cash-benefit analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, factor analysis, and value chain analysis. It provides an apt scenario about demand and factor conditions in the country impacting the profitability of the firms in the domestic and international markets.

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