Myopia Market to Grow at a Substantial Growth Rate During the Study Period (2019-2032), Predicts DelveInsight | Leading Companies - Nevakar, Vyluma, Bausch & Lomb, Sydnexis, Ocumension, ORA, LENZ Therapeutics

The myopia market size in the 7MM is expected to increase by 2032. As per DelveInsight's estimation, the myopia treatment space will experience a significant impact in the coming years due to the improvement in the rise in the number of healthcare spending across the world, in the forecast period (2023–2032)

 LAS VEGAS, Oct. 19, 2023 /PRNewswire/ -- DelveInsight's Myopia Market Insights report includes a comprehensive understanding of current treatment practices, myopia emerging drugs, market share of individual therapies, and current and forecasted market size from 2019 to 2032, segmented into 7MM [the United States, the EU-4 (Italy, Spain, France, and Germany), the United Kingdom, and Japan].

Key Takeaways from the Myopia Market Report

• According to DelveInsight analysis, the myopia market is anticipated to increase at a significant CAGR during the forecast period due to the expected launch of emerging therapies.
• According to DelveInsight's estimates, the US accounted for the highest prevalent cases of myopia in the 7MM in 2022. These cases of myopia in the 7MM are expected to increase throughout the forecast period, i.e., 2023–2032. 
• Globally, leading myopia companies such as Nevakar, Inc., Vyluma, Inc., Bausch & Lomb Incorporated, Sydnexis, Inc., Ocumension (Hong Kong) Limited, ORA, Inc., LENZ Therapeutics, Inc, iVeena Delivery Systems, Inc., LitePharmTech Co., Ltd., Laboratorios Sophia S.A de C.V., and others are developing novel myopia drugs that can be available in the myopia market in the coming years.
• Some key therapies for myopia treatment include NVK-002, Atropine 0.1% Ophthalmic Solution, SYD-101, OT-101 Ophthalmic Solution, Aceclidine+Brimonidine combination ophthalmic solution, and others.

Discover which therapies are expected to grab the major myopia market share @ Myopia Market Report

Myopia Overview

Myopia (also known as nearsightedness) is a group of ocular abnormalities characterized by the far point of the eye being closer to the retina than infinity. It is rapidly spreading over the world and posing a significant public health burden. As a result, the worldwide movement to eliminate avoidable blindness has identified refractive error as one of the world's top five causes of blindness and visual impairment. Age is a primary risk factor for myopia, and the visual stress that adults feel as a result of undertaking detailed work, such as reading or using a computer, contributes to the development and progression of myopia over time.

Myopia can be classified based on its severity and age of development. Low myopia (between 0.50 and 2.99 D), moderate myopia (between 3.00 and 5.99 D), and extreme myopia (more than or equal to 6.00 D) are common classifications of severity. Myopia symptoms include squinting, feeling fatigued while driving or doing sports, as well as headache and strain. Patients who have myopia and these symptoms should see a retina expert very soon. Because vision loss is extremely active myopia is possibly irreversible, prompt assessment and intervention are required. Delayed treatment beginning may result in poorer visual function outcomes and a faster rate of progression.

Myopia Epidemiology Segmentation

The myopia epidemiology section provides insights into the historical and current myopia patient pool and forecasted trends for individual seven major countries. It helps to recognize the causes of current and forecasted trends by exploring numerous studies and views of key opinion leaders. 

The myopia market report proffers epidemiological analysis for the study period 2019–2032 in the 7MM segmented into:

• Total Myopia Prevalent Cases 
• Myopia Severity-specific Prevalence
• Myopia Age-specific Prevalence
• Myopia Diagnosed and Treated Cases

Myopia Treatment Market 

There are several effective treatments available to manage and correct myopia. The most common approach is the use of prescription eyeglasses or contact lenses, which help to refocus light onto the retina, allowing individuals to see distant objects more clearly. These corrective lenses provide immediate relief and are often the first choice for those with myopia. Additionally, orthokeratology (Ortho-K) involves the use of specially designed contact lenses that reshape the cornea overnight, temporarily reducing myopia during the day. This non-surgical option can be particularly attractive to individuals who are averse to wearing glasses or regular contact lenses.

Another emerging option is atropine eye drops, which can slow down the progression of myopia in children. This approach is gaining popularity because it not only improves vision but also reduces the risk of developing high levels of myopia, which can lead to more severe eye problems in adulthood. In some cases, refractive surgery like LASIK or PRK may be considered for long-term correction. These surgical procedures reshape the cornea permanently, reducing or eliminating the need for glasses or contact lenses. However, they are typically reserved for adults with stable prescriptions.

Myopia treatment options continue to evolve, offering hope for those seeking clearer vision and a reduced risk of associated eye health problems, such as retinal detachment or glaucoma. It's crucial to consult with an eye care professional to determine the most suitable treatment for individual needs, as the choice of treatment depends on factors like age, lifestyle, and the severity of myopia. Regular eye check-ups are also essential to monitor the progression of myopia and make adjustments to the treatment plan as necessary.

To know more about myopia treatment, visit @ Myopia Treatment Drugs 

Key Myopia Therapies and Companies

• NVK-002: Nevakar, Inc./Vyluma, Inc.
• Atropine 0.1% Ophthalmic Solution: Bausch & Lomb Incorporated
• SYD-101: Sydnexis, Inc.
• OT-101 Ophthalmic Solution: Ocumension (Hong Kong) Limited/ORA, Inc.
• Aceclidine+Brimonidine combination ophthalmic solution: LENZ Therapeutics, Inc

Learn more about the FDA-approved drugs for myopia @ Drugs for Myopia Treatment 

Myopia Market Dynamics

The myopia market dynamics of myopia have seen significant shifts in recent years. This vision impairment affects a vast global population, and its market dynamics are influenced by several key factors. Technological advancements in eye-care solutions, such as innovative spectacle lenses and contact lenses designed to slow the progression of myopia, have gained traction. Additionally, the increasing prevalence of myopia, especially among younger populations, has driven demand for myopia management options. 

The myopia market has also witnessed a surge in research and development activities aimed at finding more effective and convenient treatments. Moreover, the rising awareness of the long-term consequences of myopia and the associated risks like retinal diseases has spurred interest in preventive measures, further impacting the myopia market landscape. These dynamics collectively highlight a rapidly evolving myopia market that caters to the growing needs of myopia patients and underscores the importance of proactive eye care.

Despite the promising market dynamics surrounding myopia management, several barriers persist that impact its growth and evolution. One significant obstacle is the lack of awareness among the general population and even some healthcare professionals about the risks associated with myopia and the available management options. This limited awareness often leads to delayed diagnosis and treatment. 

Another key challenge is the cost associated with myopia management solutions, such as specialized contact lenses or orthokeratology. High upfront expenses can deter individuals from seeking these interventions, particularly in regions with limited access to affordable eye care.

Regulatory hurdles and standards in the myopia management sector can also be a barrier. Developing and gaining approval for new myopia management technologies and treatments can be a lengthy and costly process. Furthermore, the myopia market faces competition from traditional corrective measures like eyeglasses and contact lenses, which offer immediate vision improvement but do not address the long-term progression of myopia.

Scope of the Myopia Market Report

• Therapeutic Assessment: Myopia current marketed and emerging therapies
• Myopia Market Dynamics: Conjoint Analysis of Emerging Myopia Drugs
• Competitive Intelligence Analysis: SWOT analysis and Market entry strategies
• Unmet Needs, KOL's views, Analyst's views, Myopia Market Access and Reimbursement

Discover more about myopia drugs in development @ Myopia Clinical Trials

Table of Contents

Related Reports

Myopia Pipeline

Myopia Pipeline Insight – 2023 report provides comprehensive insights about the pipeline landscape, pipeline drug profiles, including clinical and non-clinical stage products, and the key myopia companies, including Vyluma, Inc., Sydnexis, Inc., Ocumension limited, Santen Pharmaceutical, Cloudbreak therapeutics, Nevakar, Inc., Eyenovia, Stuart Therapeutics, Cellix Bio, JeniVision, Zhaoke Ophthalmology, among others.

Myopia Epidemiology

Myopia Epidemiology Forecast – 2032 report delivers an in-depth understanding of the disease, historical, and forecasted myopia epidemiology in the 7MM.

Myopia Progression Market

Myopia Progression Market Insight, Epidemiology, and Market Forecast – 2032 report delivers an in-depth understanding of market trends, market drivers, market barriers, and key myopia progression companies such as Johnson & Johnson Vision Care Inc, Beijing Airdoc Technology Co., Ltd, Essilor International, Menicon Co., Ltd., SightGlass Vision Inc, Indizen Optical Technologies, S.L.U., Bausch & Lomb Incorporated, Coopervision Inc, among others.

Contact Lenses Market

Contact Lenses Market Insights, Competitive Landscape, and Market Forecast – 2032 report delivers an in-depth understanding of the disease, historical and forecasted epidemiology, as well as the market trends, market drivers, market barriers, and key contact lenses companies, including Alcon Inc, Cooper Vision Inc, Johnson & Johnson Vision, Bausch Health Companies Inc., HOYA Vision Care Company, Contamac, ZEISS Group, SynergEyes, Menicon Co., Ltd., Gelflex, Orion Vision Group, Solotica, medios, SEED CO. LTD, among others.

About DelveInsight

DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports pharma companies by providing comprehensive end-to-end solutions to improve their performance. Get hassle-free access to all the healthcare and pharma market research reports through our subscription-based platform PharmDelve.

Contact Us
Shruti Thakur
[email protected]
+1(919)321-6187
www.delveinsight.com

Logo: https://mma.prnewswire.com/media/1082265/DelveInsight_Logo.jpg

SOURCE DelveInsight Business Research, LLP

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED