Adult Myopia Market Overview

The global Adult Myopia market is estimated to be worth over USD 41.56 Bn in 2033 and is expected to grow at CAGR of8.0% during the forecast period (2024-2033).

Adult myopia, known under the denomination of nearsightedness, is a common visual disabilitymarked by complication in viewing distant objects clearly. It occurs owing to the extension of the eyeball or steepening of the cornea, inducing light rays to focus in front of the retina in place of directly on it. This results in blurred vision for objects beyond a certain distance. Myopia can develop during childhood and progress into adulthood, with some individuals witnessingdeteriorating symptoms over time. Factors such as genetics, protracted near work, confined outdoor activities, and environmental factors contribute to its commencement and progression in adults. The global market for adult myopia management surroundsdifferent treatment alternativesfocused at administering its progression and addressing associated visual disabilities. This market comprises corrective eyewear such as glasses and contact lenses, as well as advanced treatments like pharmaceutical interventions, orthokeratology, and surgical procedures like LASIK and implantable lenses. With the growing prevalence of myopia across the world, specifically in Asian countries, there is a growing emphasis on research and development to offer more innovative and effective solutions for adult myopia management. The market is undergoingconsiderable investments in technological advancements, such as the development of novel pharmaceutical agents and specialized lenses, to meet the growing demand for efficient and personalized treatment alternatives. In addition, awareness campaigns and initiatives encouraging eye health and preventive measures are gaining traction to address the public health burden associated with adult myopia. Overall, the global market for adult myopia management is dynamic, fueled by evolving healthcare needs, advancements in medical technology, and a soaringfocus on proactive eye care strategies to enhance the quality of life for individuals affected by this prevalent visual impairment.

Figure 1. Adult Myopia: Market Size

Get more details on this report - Request Free Sample

Key Market Insights &Current Market Landscape:

The global adult myopia market is experiencingsubstantial growth and innovation, led by growing prevalence rates and surging awareness of myopia as a public health concern. Major market insights reveal a shift towards personalized treatment approaches and advanced technologies aimed at managing myopia progression effectively. Significant developments comprise the advent of pharmaceutical interventions such as atropine eye drops and novel orthokeratology designs that remodel the cornea overnight. In addition to that, advancements in laser refractive surgery techniques like small incision lenticule extraction (SMILE) and implantable phakic lenses offer surgical alternatives for correcting refractive errors in adult myopia. The market panorama is characterized by a diverse range of products and services, including corrective eyewear such as specialized lenses and personalized contact lenses, as well as telemedicine solutions for remote patient monitoring and management. With growing research and development efforts emphasized on understanding the underlying mechanisms of myopia and developing targeted therapies, the global adult myopia market is poised for further expansion and innovation in the forthcoming years.

Market Dynamics

Market Drivers

Increasing Research and Development (R&D) Activities

Increasing research and development (R&D) activities presents as a substantial market driver for the global adult myopia market by facilitate innovation and diversifying the scale of treatment alternatives available. As R&D efforts strengthen, there is a surging focus on understanding the underlying mechanisms of myopia development and progression, resulting to the discovery of novel therapeutic targets and interventions. Advanced technologies and methodologies, such as genetic screening techniques and imaging modalities, allow researchers to determine risk factors associated with myopia and develop personalized treatment approaches personalized to individual patient needs. Moreover, ongoing R&D initiatives fuel the development of innovative pharmaceutical agents, including eye drops and topical treatments, emphasized at controlling myopia progression effectively. These efforts not only contribute to the diversification of treatment options but also improve their efficacy and safety profiles, therefore addressing unmet clinical needs within the adult myopia market. Additionally, collaborations between academia, industry, and regulatory bodies facilitate knowledge exchange and accelerate the translation of scientific discoveries into clinical practice, further accelerating market growth and improving patient outcomes in the management of adult myopia.

Market Restraints

With regard to numerous advantages of Adult Myopia, the market faces several challenges due to the unique characteristics and requirements associated with them. Some of the key market challenges include:

• Limited Insurance Coverage: Inadequacy of comprehensive insurance coverage for myopia management procedures and treatments are likely to hinder market growth, limiting access to innovative therapies for a considerable portion of the population.
• Regulatory Challenges: Stringent regulatory requirements and approval processes for novel myopia management products and technologies can prolong time-to-market and increase development costs, posing barriers to entry for smaller companies and hampering market expansion.

Market Opportunities

Rise in Incidence of Myopia

The growing incidence of myopia presents a substantial market opportunity for the global adult myopia market by forming a soaring patient pool in need of management and treatment solutions. Since the prevalence of myopia persists to riseacross the world, specifically in urban and screen-centric environments, there is a corresponding surge in demand for effective interventions to address the related visual disabilities and prevent progression. This trend not only diversifies the market potential but also encourages innovation in treatment modalities, stimulating investments in research and development to develop more advanced and personalized approaches for myopia management. In addition to that, the escalated awareness of myopia as a public health concern prompts healthcare providers and policymakers to prioritize initiatives emphasized at enhancing access to preventive measures and treatment alternatives, further fueling market growth. Along with that, the economic strain of myopia-associated healthcare costs and productivity losses highlights the prominence of investing in effective interventions, fostering collaborations between industry stakeholders and healthcare systems to develop sustainable solutions and capitalize on the expanding market opportunities presented by the increasing incidence of myopia among adults.

Market Trends

• Shift Towards Non-Surgical Treatments: There is a significant trend towards non-surgical treatment alternatives for adult myopia management, comprising pharmaceutical interventions like atropine eye drops and orthokeratology, indicating a soaring preference for minimally invasive approaches among patients and healthcare providers.

• Integration of Digital Health Solutions: Growing integration of digital health solutions, such as telemedicine platforms and mobile applications for remote monitoring and patient education, is ascertained within the adult myopia market, improving accessibility to care and promoting personalized treatment plans.

Get more details on this report - Request Free Sample

Adult Myopia Market: Key Segments

By Type

• Simple Myopia
• High Myopia
• Pathological Myopia

By Treatment 

• Eyeglasses
• Contact Lenses
• Refractive Surgery
• LASIK
• PRK
• Ortho-K

By Route of Administration

• Oral
• Parenteral
• Others

By End User

• Hospital/Clinical Laboratories
• Physician Offices
• Reference Laboratories
• Others

By Distribution Channel

• Direct Tender
• Retail Sales
• Other

By Key Geographical Regions

• North America
• Europe
• Asia-Pacific
• Middle East and Africa
• South America 

Adult Myopia Market: Regional Analysis

North America accounts for the largest market share due to the high prevalence of eye diseases, growth in the medical tourism sector and increase in geriatric population. Asia-Pacific is dominating the market due to increased government awareness programs and number of generic drugs.

Figure 4. Adult Myopia Market: Distribution by Region

Get more details on this report - Request Free Sample

Leading Adult Myopia Developers

Industry Trends and Global Forecasts, 2023-2035 report features an extensive study of the current market landscape, market size and future opportunities associated with the Adult Myopia (ARDS) market, during the given forecast period. Further, the market report highlights the efforts of several stakeholders engaged in this rapidly emerging segment of the biopharmaceutical industry. Key takeaways of the Adult Myopiamarket are briefly discussed below. 

The report includes the list of players operating in the global Adult Myopiamarket. Some of the key players include: 

• Alcon (U.S.)
• Bausch Health Companies Inc. (Canada)
• EssilorLuxottica (France)
• HAAG-STREIT GROUP (U.K.)
• NIDEK CO., LTD (Japan)
• NIDEK CO., LTD (Japan)
• The Cooper Companies Inc. (U.S.)
• Topcon (Japan)
• ZEISS international (Germany)
• Ziemer Ophthalmic Systems (U.S.)

Recent Developments in the Adult Myopia Market

Several recent developments have taken place in the field of adult myopia, some of which have been outlined below. These developments, even if they took place post the release of our market report, substantiate the overall market trends that we’ve outlined in our analysis chronologically.

• In May 2021, Johnson & Johnson Vision,a global leader in eye health and part of the Johnson & Johnson Medical Devices Companies, announced that the U.S. Food and Drug Administration (FDA) has approved ACUVUE^® Abiliti™ Overnight Therapeutic Lenses for Myopia Management. Abiliti™ Overnight orthokeratology (ortho-k) lenses are specifically designed and fitted match a patient’s eye based on its unique corneal shape to temporarily reshape the cornea.

Scope of the Report

The market report presents an in-depth analysis of the various firms / organizations that are engaged in this market, across different segments, as defined in the below table: