Report : Asia Pacific Myopia Treatment Market Forecast to 2030 - Regional Analysis - by Type (High Myopia, Degenerative Myopia, and Progressive Myopia), Treatment [Low-Dose Atropine Eye Drops, Contact Lenses, Ortho-K, and Refractive Surgery (LASIK and PRK)], Age Group (Adult Myopia and Childhood Myopia), and End User (Hospitals and Clinics, Specialty Clinics, and Refractive Surgery Centers)
At 9.4% CAGR, Asia Pacific Myopia Treatment Market is Projected to be Worth US$ 6,348.64 Million by 2030, says Business Market Insights
According to Business Market Insights' research, the Asia Pacific myopia treatment market was valued at US$ 3,097.16 million in 2022 and is expected to reach US$ 6,348.64 million by 2030, registering a CAGR of 9.4% from 2022 to 2030. Increased awareness of myopia treatment and rising availability of advanced technologies for treating the targeted myopia are among the critical factors attributed to drive the Asia Pacific myopia treatment market growth.
The heightened awareness of myopia treatment options drives the substantial growth of the myopia treatment market. 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. 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. 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.
On the contrary, lack of skilled professionals hampers the growth of Asia Pacific myopia treatment market.
Based on type, the Asia Pacific myopia treatment market is segmented into high myopia, degenerative myopia, and progressive myopia. The high myopia segment held 62.4% market share in 2022, amassing US$ 1,931.24 million. It is projected to garner US$ 4,088.74 million by 2030 to register 9.8% CAGR during 2022-2030.
In terms of treatment, the Asia Pacific myopia treatment market is segmented into low-dose atropine eye drops, contact lenses, ortho-k, and refractive surgery. The low-dose atropine eye drops segment held 38.2% share of Asia Pacific myopia treatment market in 2022, amassing US$ 1,182.67 million. It is anticipated to garner US$ 2,498.49 million by 2030 to expand at 9.8% CAGR during 2022-2030. Furthermore, the refractive surgery segment is subcategorized into LASIK and PRK.
By age group, the Asia Pacific myopia treatment market is bifurcated into adult myopia and childhood myopia. The adult myopia segment held 65.3% share of Asia Pacific myopia treatment market in 2022, amassing US$ 2,023.61 million. It is projected to garner US$ 4,232.63 million by 2030 to expand at 9.7% CAGR from 2022 to 2030.
Based on end user, the Asia Pacific myopia treatment market is categorized into hospitals and clinics, specialty clinics, and refractive surgery centers. The hospitals and clinics segment held 65.5% share of Asia Pacific myopia treatment market in 2022, amassing US$ 2,027.16 million. It is predicted to garner US$ 4,276.26 million by 2030 to expand at 9.8% CAGR between 2022 and 2030.
Based on country, the Asia Pacific myopia treatment market is categorized into Australia, China, Japan, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 38.2% share of Asia Pacific myopia treatment market in 2022. It was assessed at US$ 1,181.56 million in 2022 and is likely to hit US$ 2,659.44 million by 2030, registering a CAGR of 10.7% during 2022-2030.
Key players operating in the Asia Pacific myopia treatment market are Bausch Health Companies Inc, Alcon AG, CooperVision Inc, Johnson & Johnson Vision Care Inc, Nidek Co Ltd, Haag-Streit AG, and Carl Zeiss AG, among others.
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