Global Presbyopia Market – Industry Trends and Forecast to 2029

Market Analysis and Size

In recent years, the presbyopia market is anticipated to proliferate during the forecast period. Presbyopia is when your eyes gradually lose their capacity to focus on adjacent things. Presbyopia typically appears in your early to mid-40s and worsens until you reach the age of 65. While vision correction therapies for common eye problems including myopia and hyperopia typically produce excellent results, presbyopia treatment currently on the market has a lot of room for improvement. Although there are treatments for presbyopia, the outcomes have not proven convincing. This offers more opportunities for the presbyopia market to grow.

Data Bridge Market Research analyses that the presbyopia market was valued at USD 9.441 billion in 2021 and is expected to reach USD 13.84 billion by 2029, registering a CAGR of 4.90% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Market Definition

Presbyopia is an eye ailment in which your ability to focus quickly on close things gradually deteriorates. It's a result of becoming older. The natural lens inside your eye thickens and loses flexibility over time. Presbyopia is caused by a problem with the eye's lens, which is located below the iris (coloured area) and pupil. Light is bent (or refracted) by the eye's lens to focus it straight onto the retina, which is the light-sensitive tissue at the back of the eye.

Report Scope and Market Segmentation

Presbyopia Market Dynamics

Drivers

• Increasing prevalence of chronic diseases

The rising prevalence of chronic diseases across the globe is estimated to enhance the market's growth. Chronic diseases such as multiple sclerosis, diabetes, or cardiovascular diseases will increase the risk of premature presbyopia, propelling the growth rate of the presbyopia market. According to World Health Organization (WHO), cardiovascular diseases (CVDs) claimed the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all deaths.

• Increasing investment for healthcare infrastructure

Another significant factor influencing the growth rate of presbyopia market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.

• Growing number of geriatric population

The surging geriatric population is estimated to enhance the market's expansion during the forecast period of 2022-2029. According to the World Health Organization (WHO), the worldwide geriatric population, estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to presbyopia diseases, further estimated to enhance the 'market's growth rate.

Furthermore, rising initiatives by public and private organizations to spread awareness will expand the presbyopia market. Additionally, the sedentary lifestyle of people and rising disposable income will result in the expansion of presbyopia market. Surging consumption of various medications such as antidepressants, diuretics and antihistamines is the major factor anticipated to flourish the 'market's growth rate during the forecast period of 2022-2029.

Opportunities

• Increase in the number of research and development activities       

Moreover, the market's growth is fueled by an increase in the number of research and development activities. This will provide beneficial opportunities for the presbyopia market growth. Along with this, rising drug approvals and launches will further propel the 'market's growth rate. 

Moreover, rising investment for the development of advanced technologies and an increase in the number of emerging markets will provide beneficial opportunities for the presbyopia market growth during the forecast period.

Restraints/Challenges

On the other hand, the high cost associated with the treatment will obstruct the market's growth rate. The dearth of skilled professionals and lack of healthcare infrastructure in developing economies will challenge the presbyopia market. Additionally, strict regulatory policies and lack of awareness among people will restrain and further impede the growth rate of the market during the forecast period of 2022-2029.

This presbyopia market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the presbyopia market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Patient Epidemiology Analysis

Presbyopia appears typically at the age of 40 and gets progressively worse until the late 60s, when it usually levels off. Both men and women are affected equally by presbyopia.

Presbyopia market also provides you with detailed market analysis for patient analysis, prognosis and cures. Prevalence, incidence, mortality, adherence rates are some of the data variables that are available in the report. Direct or indirect impact analyses of epidemiology to market growth are analysed to create a more robust and cohort multivariate statistical model for forecasting the market in the growth period.

COVID-19 Impact on Presbyopia Market

Since its emergence in December 2019, the COVID-19  virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. COVID-19, a new coronavirus, was identified as the causal agent in the pneumonia cases. This virus spread quickly over the world, killing a large number of people. COVID-19 was labelled a global pandemic by the World Health Organization (WHO) in March 2020, and rigorous measures to prevent the disease's spread were recommended. Since then, the pandemic has delayed the expansion of the healthcare sector and disrupted the supply chain. Furthermore, governments in many nations had imposed nationwide lockdowns to halt the spread of COVID-19. Similarly, healthcare organizations in numerous nations throughout the world were having difficulty continuing their supply chain activities. The presbyopia market was hampered by the supply chain slowness.

Recent Development

• In October 2021, Allergan announced the U.S. Food and Drug Administration (FDA) approval of VUITY (pilocarpine HCl ophthalmic solution) 1.25%. It is used for treating presbyopia, commonly known as age-related blurry near vision, in adults. VUITY is a prescription eye drop which works by improving near and intermediate vision without impacting distance vision.

Global Presbyopia Market Scope

The presbyopia market is segmented on the basis of diagnosis, treatment, symptoms, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Diagnosis

• Eye Exam
• Others

Symptoms

• Eye Strain
• Headaches
• Fatigue
• Blurred Vision
• Others

Treatment

• Eyeglasses
• Office Progressives
• Progressive Multifocals
• Bifocals
• Trifocals
• Prescription Reading Glasses
• Contact Lenses
• Modified Monovision
• Monovision Contact Lenses
• Bifocal Contact Lenses
• Refractive Surgery
• Photorefractive Keratectomy (PRK)
• Laser-Assisted Subepithelial Keratectomy (LASEK)
• Laser-Assisted in Situ Keratomileusis (LASIK)
• Conductive Keratoplasty
• Lens Implants
• Others

End-Users

• Hospitals
• Specialty Clinics
• Homecare
• Others

Distribution Channel

• Hospital Pharmacy
• Retail Pharmacy
• Online Pharmacy
• Others

Presbyopia Market Regional Analysis/Insights

The presbyopia market is analysed and market size insights and trends are provided by country, diagnosis, treatment, symptoms, end-users and distribution channel as referenced above.

The countries covered in the presbyopia market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America

North America dominates the presbyopia market because of the high prevalence of presbyopia and technological advancement in the treatment in this region. Additionally, rising healthcare expenditure and presence of major key players will further propel the 'market's growth rate in this region.

Asia-Pacific are expected to grow during the forecast period due to increasing number of geriatric population in this region. Also, development of healthcare infrastructure and rising government initiatives will further propel the 'market's growth rate in this region.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Presbyopia Market Share Analysis

The presbyopia market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to presbyopia market.

Some of the major players operating in the presbyopia market are:

• F. Hoffmann-La Roche Ltd. (Switzerland)
• Mylan N.V. (US)
• Teva Pharmaceutical Industries Ltd.(Israel)
• Sanofi (France)
• Pfizer Inc. (US)
• GlaxoSmithKline plc (UK)
• Novartis AG (Switzerland)
• AstraZeneca (UK)
• Johnson & Johnson Private Limited (US)
• Sun Pharmaceutical Industries Ltd. (India)
• Merck & Co., Inc. (US)
• Bausch Health Companies Inc. (Canada)
• Allergan (Ireland)
• Abbott (US)
• Alcon Vision LLC (Switzerland)
• Orasis Pharmaceuticals, Inc. (US)
• NIDEK CO., LTD. (Japan)
• Ziemer Ophthalmic Systems (Switzerland)
• ZEISS International (US)

SKU-54541