Presbyopia is a common age-related vision impairment, that impacts individuals globally, especially those aged 40 and above. It significantly affects daily activities such as reading and using electronic devices, influencing overall quality of life. With a growing aging population, addressing presbyopia is a global health concern with economic implications related to healthcare costs and productivity. The condition has driven innovations in eye care, leading to diverse treatment options. Public health initiatives focused on eye care awareness and accessibility to treatments are crucial for effective presbyopia management.
According to Data Bridge Market Research analyses the Global 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.
"Increased healthcare investments boost the market growth"
The growth of the presbyopia market is driven by increasing investments in healthcare infrastructure. As healthcare expenditure rises, governments worldwide allocate more funds to enhance facilities and access to medical services. This financial support contributes to the development of advanced technologies and treatments for presbyopia. Improved healthcare infrastructure facilitates better diagnosis and treatment of various conditions, including presbyopia. The connection between increased funding and market dynamics underscores the pivotal role of robust healthcare infrastructure in shaping the presbyopia treatment landscape.
What restraints the growth of the global presbyopia market?
“High treatment costs hinders the market growth”
The high cost of presbyopia treatments poses a significant restraint on market growth. Affordability issues limit access to these treatments, reducing adoption rates and hindering market penetration, particularly in regions with lower incomes. Insurance coverage disparities further contribute to the challenge. This financial barrier may also impede research and development for more affordable solutions.
Segmentation: Global Presbyopia Market
The global presbyopia market is segmented on the basis of diagnosis, treatment, symptoms, end-user and distribution channel.
- On the basis of diagnosis, the global presbyopia market is segmented into eye exam, and others
- On the basis of treatment, the global presbyopia market is segmented into eyeglasses, contact lenses, refractive surgery, lens implants, and others
- On the basis of symptoms, the global presbyopia market is segmented into eye strain, headaches, fatigue, blurred vision, and others
- On the basis of end-user, the global presbyopia market is segmented into hospitals, specialty clinics, homecare, and others
- On the basis of distribution channel, the global presbyopia market is segmented into hospital pharmacy, retail pharmacy, online pharmacy, and others
Regional Insights: North America dominates the Global Presbyopia Market
North America dominates the presbyopia market due to its high prevalence of the condition, advanced technological treatments, substantial healthcare spending, and the presence of major industry players. These factors collectively position the region as a leader in addressing age-related blurry near vision, driving the growth of the presbyopia treatment market.
The Asia-Pacific presbyopia market is expected to grow significantly due to a rising geriatric population, heightened demand for presbyopia treatments. The ongoing development of healthcare infrastructure, characterized by advanced technologies and improved eye care accessibility, is enhancing the region's capacity for effective presbyopia management.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-presbyopia-market
Recent Developments in Global Presbyopia Market
- In October 2021, Allergan disclosed the approval of VUITY (pilocarpine HCl ophthalmic solution) 1.25% by the U.S. Food and Drug Administration (FDA). This prescription eye drop is designed to address presbyopia, the age-related condition causing blurry near vision in adults. Notably, VUITY enhances near and intermediate vision without affecting distance vision, offering a targeted solution for individuals experiencing presbyopia
The Prominent Key Players Operating in the Global Presbyopia Market Include:
- F. Hoffmann-La Roche Ltd. (Switzerland)
- Mylan N.V. (U.S.)
- Teva Pharmaceutical Industries Ltd.(Israel)
- Sanofi (France)
- Pfizer Inc. (U.S.)
- GlaxoSmithKline plc (U.K.)
- Novartis AG (Switzerland)
- AstraZeneca (U.K.)
- Johnson & Johnson Private Limited (U.S.)
- Sun Pharmaceutical Industries Ltd. (India)
- Merck & Co., Inc. (U.S.)
- Bausch Health Companies Inc. (Canada)
- Allergan (Ireland)
- Abbott (U.S.)
- Alcon Vision LLC (Switzerland)
- Orasis Pharmaceuticals, Inc. (U.S.)
- NIDEK CO., LTD. (Japan)
- Ziemer Ophthalmic Systems (Switzerland)
- ZEISS International (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global presbyopia market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Presbyopia Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
