North America accounted for the largest share of the global myopia treatment market in 2022. The market in Asia Pacific is expected to grow at the highest CAGR from 2022 to 2030. The US myopia treatment market is expected to experience significant growth in the coming years. The prevalence of myopia has been increasing in recent years owing to which there is a significant demand for effective treatments. The US reported a prevalence of 42%, nearly doubling in just three decades, according to data released by the Myopia Institute in 2023. Furthermore, increasing awareness about myopia is contributing to the market growth. For instance, the Brien Holden Vision Institute’s 2024 Myopia Awareness Week has selected Review of Myopia Management as its official co-sponsor. The collaboration will assist in expanding the reach of Myopia Awareness Week, which is scheduled at domestic and international levels on May 13–19, 2024. More people are becoming aware of the risks associated with myopia, such as an increased risk of developing other eye conditions—cataracts and glaucoma. This has led to a greater demand for effective treatments that can help prevent or slow down the progression of myopia. Another factor driving the growth of the myopia treatment market in the US is the availability of advanced technologies and treatment options—including corrective lenses, orthokeratology, and pharmacological treatments. These treatments are becoming increasingly sophisticated and effective, helping drive the demand for myopia treatment. Finally, the growing prevalence of myopia among children is driving the growth of the myopia treatment market in the US. As more children are diagnosed with myopia, there is a greater need for effective treatments that can help prevent or slow down its progression. This has led to increased investment in research and development of new treatments specifically designed for children. Overall, the US myopia treatment market is expected to grow in the coming years as more people become aware of the condition and demand for effective treatments increases.
Increased Awareness of Myopia Drives Myopia Treatment Market Growth
A recent market analysis revealed that the increasing awareness of myopia management strategies, particularly among parents and eyecare professionals, has led to a significant upsurge in implementing myopia control measures. For instance, on December 11, 2023, CooperVision announced a ground-breaking program to overcome access gaps for myopia care for children from low-income families in the US. The leader in global eye care is teaming up with three of the best optometry schools in the country to provide extended myopia therapy to a pilot group starting in 2024. The first events of the program were held in Boston and Chicago. As awareness campaigns, educational initiatives, and extensive research studies continue to shed light on the potential consequences of unmanaged myopia, there has been a notable shift toward proactive myopia management approaches. This trend has furthered the adoption of myopia treatment technologies, such as orthokeratology and pharmaceutical interventions, resulting in a remarkable increase in the market size, which has grown by over 25% in the last two years. The collective efforts to raise awareness about myopia as a public health concern and to promote the viability of myopia management solutions are propelling market growth and fostering a culture of proactive vision care. This momentum is likely to continue driving advancements in myopia treatment, emphasizing the pivotal role of awareness in shaping the landscape of myopia management and treatment strategies.
Myopia Treatment Market: Segmental Overview
The global myopia treatment market is segmented on the basis of type, treatment, age group, and end user.
The myopia treatment market, based on type, is segmented into high myopia, degenerative myopia and progressive myopia. The high myopia segment held the largest share of the myopia treatment market in 2022. High myopia, also known as pathological or degenerative myopia, represents an advanced form of nearsightedness characterized by a significantly elongated eyeball and an increased risk of ocular complications. Individuals with high myopia often experience severe visual impairment and are susceptible to a range of sight-threatening conditions, including retinal detachment, myopic maculopathy, glaucoma, and choroidal neovascularization.
The myopia treatment market, based on treatment, is segmented into low dose atropine eye drops, refractive surgery, contact lenses, and ortho-k. The low-dose atropine eye drops segment held the largest share of the myopia treatment market in 2022. Low-dose atropine eye drops are a promising treatment for myopia, particularly in children and adolescents. Myopia, often known as nearsightedness, is a frequent refractive defect that results in fuzzy images of distant objects. Atropine is a medicine that can help slow down the progression of myopia by lowering the focusing muscles in the eye and dilating the pupil.
By age group, the myopia treatment market is segmented into adult myopia and childhood myopia. The adult myopia segment held a larger share of the myopia treatment market in 2022. Adult myopia, characterized by difficulty seeing objects at a distance, often requires corrective lenses for clear vision. The onset and progression of myopia in adulthood can impact various characteristics of daily life, from reading and computer work to driving and participating in outdoor activities. Beyond the inconvenience of relying on corrective measures, adult myopia can lead to long-term ocular health concerns, including an increased risk of developing myopic maculopathy, cataracts, and glaucoma.
In terms of end user, the myopia treatment market is classified into hospitals and clinics, specialty clinics, and refractive surgery centers. The hospitals and clinics segment held the largest share of the myopia treatment market in 2022. Hospitals and clinics are the primary healthcare facilities that offer treatments for various diseases and health conditions. The hospitals provide primary care with the best facilities and patient services.
Myopia Treatment Market: Competitive Landscape and Key Developments
Haag-Streit Holding (Metall Zug), 2EyesVision, Ziemer Group, NIDEK CO., LTD, Alcon, Carl Zeiss AG, CooperVision, Bausch Health, Johnson & Johnson Vision (Johnson & Johnson), and Topcon Healthcare Inc are a few key companies operating in the myopia treatment market. These companies adopt product innovation strategies to meet evolving customer demands, which allows them to maintain their brand name in the myopia treatment market. A few of the recent developments in the global myopia treatment market are mentioned below:
- In October 2023, NIDEK CO LTD launched the NP-1/NP-1C Preloaded IOL Injection System. The NP-1/NP-1C is a fully preloaded injection system with an aspheric hydrophobic soft acrylic lens designed for smoother, safer, and secure IOL implantation. This newly developed injector is designed for smooth, controlled delivery. The NP-1/NP-1C allows quick and easy operation using a simple two-step process involving, filling the viscoelastic material and pressing the plunger.
- In August 2023, CooperVision MiSight 1 day contact lenses are now authorized for use in China by the National Medical Products Administration (NMPA), which regulates pharmaceuticals and medical devices. This approval comes after a thorough review process. With this new development, the creative soft contact lenses are the first product of any kind recommended in China that may reduce the axial lengthening process.
- In August 2023, Carl Zeiss AG announced the launch of its first Myopia Centre in Bangalore, India, in collaboration with S.R. Gopal Rao’s Myopia Centre. The center will provide specialized services, including comprehensive eye examinations, advanced imaging technologies, personalized myopia management plans, and a wide range of customized spectacle frames. Launching the new center will benefit both the company and its stakeholders by slowing down myopia’s progression.