Teenager Myopia Control Market Trends, Size, Share, Status, Analysis And Forecast To 2027

By Author: Himanshi Arya
Total Articles: 68
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Market Outlook:
The global teenager myopia control market was valued at USD 553.2 Million in 2019 and is projected to reach USD 1,576.9 Million by 2027, expanding at a CAGR of 15.1% during the forecast period. Myopia is a medical condition, associated with the blurring of vision. Myopia is also known as nearsightedness. A person suffering from myopia has difficulty to see objects from afar. The person can clearly see objects that are placed close. If the cornea is too curved or eyeball is too long, chances of myopia increase. The light entering the eye is scattered, which leads to the blurred vision. Incidences of myopia in teenagers has increased over the past few years.

Market Dynamics
The market is driven by factors such as rising prevalence of myopia, increasing number of diabetics growing screen time, rising incidence of distance vision impairment. Conversely, lack of early diagnosis and shortage of ophthalmologists are key restraints of this market. Growing awareness regarding teenage myopia control in emerging counties and increasing awareness for myopia by government are boosting the market.

Definitions

By ...
... Product Types

Spectacle: A spectacle is used for the correction of vision. Spectacles consists of lens and frames, which are designed according to the needs of the customers. They are used for correcting refractive errors. The two types of refractive errors include myopia or nearsightedness and hyperopia or farsightedness. Spectacles are designed by adding or subtracting focusing power to the eye's cornea and lens. Convex or concave lens are used for the correction of the vision. Convex lenses are thin in the center. The numerical prescription in diopters is marked with a minus (-) symbol. These lenses are used to correct nearsightedness (myopia). Concave lenses are thick in the center. Concave lenses are used to correct farsightedness (hyperopia). The numerical prescription in diopters is always marked with a plus (+) symbol. These lenses are used to correct farsightedness (hyperopia).

Contact lenses: Contact lenses are thin, clear plastic disks, which are used to improve the vision. Contact lens are used for correction of refractive errors. Refractive errors occur when the eyes do not refract (bend or focus) light into the eye resulting in the formation of blurred image. People suffering from myopia (nearsightedness), hyperopia (farsightedness), astigmatism (distorted vision), and presbyopia (changes to near vision that normally happen with age) use contact lens. The two types of contact lens include hard contact lens and soft contact lens. Hard contact lens are composed of rigid gas permeable (RGP) lens. Plastics and other materials are combined with RGP to form hard contact lens. People suffering from a condition known as keratoconus use hard contact lens. Soft contact lens are used as a replacement for spectacles. The five types of soft contact lens include, daily wear contacts, extended wear contacts, toric contacts, and colored contacts and decorative contacts.

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Ortho-K: Ortho-K is also known as orthokeratology. Orthokeratology is fitting custom designed, high oxygen-permeable contact lenses to reshape the cornea in a controlled manner to correct ametropia and myopia. Ortho-K lenses work by flattening the center of the cornea, and it changes, the direction in which the light is bent. It is recommended to wear Ortho-K lenses overnight, as it fattens the cornea. The Ortho-K are gas permeable lenses, and are sturdy, which are used to reshape the cornea, and allow oxygen through to keep your eye stays healthy. After the removal of Ortho-K lenses, the cornea stays flattened for a while and vision is corrected without the need for glasses. The cornea retains its shape, if wearing of Ortho-K lenses are discontinued. It is recommended to keep wearing the lenses regularly to keep the vision corrected.

Atropine: Atropine is used as an eye drop for the treatment of myopia. Atropine is anti-muscarinic or anti-cholinergic drugs. Atropine blocks the actions of a chemical called acetylcholine. Atropine has numerous uses in the treatment of myopia and is available in several dosage forms including oral tablets, solution for injections, ophthalmic solutions, an ophthalmic ointments. Atropine eye drops are used for the dilation of pupils, as the muscles of the eyes relax. The dilation of muscles helps light to refract, thereby improving the vision. Atropine is used before eye examinations to dilate (open) the pupil. It is also used to relieve pain caused by swelling and inflammation of the eye. The use of atropine is recommended by physicians to people suffering from eye diseases.

Segmental Outlook
On the basis of product types, the global Teenager Myopia Control market is segmented into spectacles, contact lens, ortho-K, and atropine. The ortho-K segment is anticipated to expand at a CAGR of 15.6% during the forecast period. Several consumers are adopting ortho-k for the correction of myopia, as they are more convenient to use, thus boosting segment growth. The contact lens segment is estimated to hold 47.1% share of the market in 2020 owing to its increasing demand in the teenage population.

Based on distribution channels, the market is segmented into hospitals, optometry clinics, and others. The optometry clinics segment is projected to hold a major share of the market during the forecast period owing to the increasing incorporation of the teenager myopia control in a majority of optometry clinics globally. In terms of value, the hospitals segment is anticipated to expand at a significant CAGR during the forecast period. Several consumers purchase medicines from hospitals due to convenience, which in turn boosts the growth of the segment.

Regional Outlook
In terms of regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market. The region constituted 47.0% share of the market in 2020. The market in the region is projected to expand at a CAGR of 15.6% during the forecast period due to increasing awareness of eye disorders, growing per capita spending, and market saturation in developed economies are encouraging the market players to expand their presence in emerging economies. The market in North America is projected to expand at a CAGR of 14.8% due growing prevalence of myopia in the region.

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Competitive Landscape
• Key players in the market include Johnson & Johnson Vision, CooperVision, Bausch & Lomb, HOYA Corporation. These companies are considered manufacturers of teenager myopia control based on their revenue, research development (R&D) activities, regional presence, and supply chain management system.
• The players are adopting key strategies such as acquisition, and geographical expansion where potential opportunity for the teenager myopia control extraction is added in the company’s capacity.
• For instance, on August 3, 2017, CooperVision completed the acquisition of Procornea. Procornea is a manufacturer and distributor of specialty contact lenses, in particular Ortho-K from the Netherlands. This acquisition increased CooperVision’s presence in the myopia management market.
• In August 2020, Johnson & Johnson Vision, as part of contact lens health week, announced new ACUVUE Services and Resources to enhance contact lens safety, comfort, and accessibility. ACUVUE LensAssist offered free, interactive training to patients and eye care professionals, encouraging healthy, hygienic, and comfortable use of contact lenses.

Key Benefits for Industry Participants & Stakeholders
• In-depth Analysis of the Global Teenager Myopia Control Market
• Historical, Current and Projected Market Size in terms of Value
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on Global Teenager Myopia Control Market Performance

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