July 01, 2022 06:30 ET | Source: Future Market Insights Global and Consulting Pvt. Ltd. Future Market Insights Global and Consulting Pvt. Ltd.

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NEWARK, Del, July 01, 2022 (GLOBE NEWSWIRE) -- The global myopia and presbyopia treatment market is set to witness an impressive growth rate of 8.5% over the forecasted years of 2022 to 2032. The myopia and presbyopia treatment market size is anticipated to reach a valuation of around US$ 40.5 Billion by the end of year 2032 from the current valuation of US$ 17.9 Billion in 2022.

According to the ‘World Report on Vision 2019’ issued by the World Health Organization, the yearly global costs of productivity losses linked with vision impairment from untreated myopia alone were projected to be US$ 244 Billion. In comparison to the preceding five years, the prevalence of myopia has climbed from 1.4% to 3% as revealed by myopia and presbyopia treatment market analysis report in 2020. As an inference, given the increase in myopia instances, the overall myopia and presbyopia treatment market is anticipated to rise rapidly over the next years.

Increasing government funding for conditions that cause visual impairment could help myopia and presbyopia treatment market size develop more broadly during the projected period. Additionally, the ability to prevent significant health problems including glaucoma, cataracts, and retinal damage if the condition is identified and treated early enough is also expected to fuel the expansion of the worldwide myopia and presbyopia treatment market during the projection period.

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The myopia and presbyopia market growth is favored due to the rapid improvement in the treatment procedures and the expansion of eye clinics. Increase in the prevalence of visual impairments and brought on by these disorders and are observed to be boosting the global myopia and presbyopia treatment market share.

Higher use of contact lenses among the younger generation of present age, as well as surgical alternatives across the countries have boosted the myopia and presbyopia treatment business significantly.   Furthermore, the myopia and presbyopia treatment market opportunities is expanding as a consequence of technological introductions, an increase in optometrists, and rising consumer knowledge of available treatment alternatives.

Key Takeaways from Myopia and Presbyopia Treatment Market Study

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Some of the well-known myopia and presbyopia treatment market players are Ziemer Ophthalmic Systems AG, NIDEK CO., LTD., Johnson & Johnson Vision, Essilor Ltd., Zeiss International, ALCON VISION LLC, Bausch & Lomb Incorporated, Haag-Streit UK, and Topcon Corporation among others.

Recent Developments in the Global Myopia and Presbyopia Treatment Market:

Myopia and Presbyopia Treatment Market by Segmentation

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