Global Myopia Control Lens (Plastic Lens) Market by Type (pHEMA Soft Lens & PMMA Hard Lens), By End User (Teenagers & Adults), By Region, and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2019-2028

Market.us announces publication of its most recently generated research report titled, “Global Myopia Control Lens (Plastic Lens) Market by Type (pHEMA Soft Lens & PMMA Hard Lens), By End User (Teenagers & Adults), and by Country – Global Forecast to 2028.”, which offers a holistic view of the global myopia control lens (plastic lens) market through systematic segmentation that covers every aspect of the target market.

The global myopia control lens (plastic lens) market is projected to be US$ 128,174.6 Mn in 2019 to reach US$ 273,626.6 Mn by 2029 at a CAGR of 7.9%.

Myopia is also referred to as short-sightedness or near-sightedness. It affects the vision of a person, making distant objects appear blurry while near objects appear normal. There are several underlying factors that can cause myopia in a person, including hereditary factors, environmental factors, working for long hours focusing on closer objects, etc. Some people with undiagnosed myopia can also have headaches and eyestrain. According to recent estimates, around 30% of the total population is affected by myopia and is majorly affecting children and adolescents. This condition can be corrected by the usage of eyeglasses or contact lenses or by surgery. Either an optometrist or an ophthalmologist can diagnose myopia with a comprehensive eye examination, which includes examining the eye in detail and testing vision. The doctor will either prescribe spectacles or contact lenses for optical correction, depending on the nature of the case. Both glasses and contact lenses have their set of advantages and disadvantages for patients with myopia. Some benefits of spectacles include economical cost, higher eye safety, better handling, etc. while contact lenses provide better cosmesis, larger retinal image size, chances of reducing myopia progression, etc. Contact lenses or corrective eyeglasses are commonly used to treat myopia. It refocuses light onto the retina. Contact lenses can cause complications (e.g., dry eye, corneal distortion, immunologic reaction, infection), but may be advantageous for activities where glasses are not practical (e.g., specific sports). In younger children, a technique called retinoscopy helps the eye doctor determine the correction required. There are several types of myopia that affect people, such as simple myopia, nocturnal myopia, pseudomyopia, degenerative myopia, and induced myopia.

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Increasing prevalence of myopia affecting a high percentage of the population is the primary factor anticipated to drive the growth of the global myopia control lens (plastic lens) market. According to Brien Holden Vision Institute: about 30% of the world population is affected by myopia, which is expected to rise to 50% by 2050, accounting for about 5 billion people.

Global Myopia Control Lens (Plastic Lens) Market Revenue (US$ Mn), 2019–2029 

Several research studies have indicated that children wearing multifocal lenses had 25% less myopia progression and 31$ less axial elongation than those wearing single-vision glasses over two years. The recent introduction of multifocal contact lenses for children with myopia that can slow the progression of nearsightedness, providing a more effective and efficient treatment option can offer lucrative opportunities to the players in the target market, thereby augmenting the market growth further.

Technological advancements in the field of ophthalmology, such as the advent of refractive surgery. This eliminates the dependency of glasses or contact lenses by improving the refractive state of the eye, which is a significant challenge for the growth of the global myopia control lens market. Additionally, this surgery is highly affordable and safe and covered by medical insurance across various economies, which may subdue the growth of the target market.

Based on the type, the market is segmented into pHEMA Soft Lens and PMMA Hard Lens. The PMMA Hard Lens segment owns the majority share in the global myopia control lens (plastic lens) market, followed by pHEMA Soft Lens.

Based on the end user, the market is segmented into teenagers and adults. The teenagers segment owns the majority share in the global myopia control lens (plastic lens) market, followed by adults segment.

Global Myopia Control Lens (Plastic Lens) Market Attractiveness Analysis by Type, 2019

Based on the country, the market is segmented into the USA, Japan, India, Europe, China, Southeast Asia, South America, South Africa, and Rest of World. Europe owns the majority share in the global myopia control lens (plastic lens) market, followed by China.

The research report on the global myopia control lens (plastic lens) market includes profiles of some of the major companies such as EssilorLuxottica, Alcon, Bausch Health, Carl Zeiss AG (Carl Zeiss), HOYA Corp., Brighten Optix, Mingyue Optical, Shanghai Weixing Optical Co., Ltd., and others.

Key Market Segments

Type

• pHEMA Soft Lens
• PMMA Hard Lens

Application

• Teenagers
• Adults

Key Market Players included in the report:

• EssilorLuxottica
• Alcon
• Bausch Health
• Carl Zeiss AG (Carl Zeiss)
• HOYA Corp.
• Brighten Optix
• Mingyue Optical
• Shanghai Weixing Optical Co.Ltd.

For the Myopia Control Lens (Plastic Lens) Market research study, the following years have been considered to estimate the market size: