Global Myopia Treatment Devices Market Report and Forecast 2024-2032

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 7.21 billion in 2023. The market is anticipated to rise at a CAGR of 9.10% during the forecast period of 2024-2032 to attain a value of USD 15.79 billion by 2032.

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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
• 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