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Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

Myopia or nearsightedness is a frequently observed eye disorder, in which a person can see objects farther away blurred, however not affecting the nearby object vision. This occurs due to the change in the eye lens shape, which leads to bending (refract) of light rays incorrectly, which causes image focusing in front of the retina instead of on the retina. Moreover, presbyopia is a condition that involves gradual loss of the eyes’ ability to focus nearby objects. It is a naturally observed as a part of aging. Presbyopia usually is diagnosed in mid-40s and the condition worsens with the progression of age.

The global myopia & presbyopia eye drops market is estimated to be valued at US$ 52.7 million in 2021 and is expected to exhibit a CAGR of 74.3% during the forecast period (2021-2028).

Figure 1.Global Myopia & Presbyopia Eye Drops Market Share (%) in Terms of Value, By Indication, 2021

Myopia & Presbyopia Eye Drops  | Coherent Market Insights

Increasing prevalence of myopia & presbyopia is expected to drive the market growth during the forecast period.

The increasing prevalence of myopia is expected to drive growth of the global myopia & presbyopia eye drops market. For instance, in February 2016, according to a report published in Call for Papers Ophthalmology Science, data was extracted from 145 studies covering 2.1 million participants. It was observed 1,406 million people suffered with myopia (around 22.9% of the world population); and 163 million people with high myopia (around 2.7% of the world population) in 2000. In addition, according to the same source there will be 4,758 million people suffering from myopia (around 49.8% of the world population) and 938 million people with high myopia (9.8% of the world population) by 2050.

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Myopia & Presbyopia Eye Drops Market Report Coverage

Report Coverage Details
Base Year: 2020 Market Size in 2021: US$ 52.7 Mn
Historical Data for: 2017 to 2020 Forecast Period: 2021 to 2028
Forecast Period 2021 to 2028 CAGR: 74.3% 2028 Value Projection: US$ 4,494.6 Mn
Geographies covered:
  • North America: U.S. and Canada
  • Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
  • Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
  • Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
  • Middle East: GCC Countries, Israel, and Rest of Middle East
  • Africa: South Africa, North Africa, and Central Africa
Segments covered:
  • By Eye Drops: Atropine Drops, Pipeline Products (CSF-1, AGN – 190584, Nyxol, UNR844-Cl, PRX-100, MicroLine, Others)
  • By Indication: Myopia, Presbyopia
  • By End User: Hospitals, Ophthalmic Clinics, Others
Companies covered:

Orasis Pharmaceuticals, AbbVie Inc. (Allergan), Novartis AG, OSRX Pharmaceuticals, LENZ Therapeutics, Visus Therapeutics, Ocuphire Pharma Inc., Eyenovia, Inc., Vyluma Inc., and Jawa Pharmaceuticals (India) Pvt. Ltd.

Growth Drivers:
  • Increasing research and development activities for treatment of myopia & presbyopia 
  • Increasing prevalence of myopia & presbyopia 
Restraints & Challenges:
  • Availability of alternative treatments for ophthalmic conditions such as  myopia and presbyopia

Figure 2.Global Myopia & Presbyopia Eye Drops Market Share (%), By End User, 2021

Myopia & Presbyopia Eye Drops  | Coherent Market Insights

Increasing research and development activities for the treatment of myopia & presbyopia, is expected to drive the market growth during the forecast period.

The increasing number of research and development activities by market key players is expected to drive growth of the global myopia & presbyopia eye drops market. For instance, in October 2020, AbbVie, announced the phase III trials for GEMINI 2 and 1 for evaluating the safety, efficacy, and tolerance of their investigational drug candidate AGN-190584 (pilocarpine 1.25%). It is an ophthalmic solution, which is used for treating the condition presbyopia. Moreover, the details of the studies will be presented at medical meetings and will facilitate the new drug application (NDA) submission to U.S. Food and Drug Administration (FDA) in the first half of 2021.

Global Myopia & Presbyopia Eye Drops Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdown in various countries across the globe have impacted the financial status of businesses across all sectors. The healthcare sector is amongst the sector, which has been highly impacted by the COVID-19 pandemic. In addition, the coronavirus pandemic has negatively impacted the supply of raw materials required for the production of health supplements including eye drops for the treatment of myopia and presbyopia, across the globe.

Moreover, to curb the spread of COVID-19, the Centers for Disease Control and Prevention (CDC) had advised patients to not visit hospitals or eye clinics except for emergencies. Therefore, during the COVID-19 pandemic, the demand for ophthalmic products increased, in order to slow down the progression of eye disorders. Therefore, during the COVID-19 pandemic, there was very high demand for eye drops but as the supply chain was disrupted, there was shortage in the availability of eye drops, which hampered the growth of the market.

Global Myopia & Presbyopia Eye Drops Market: Restraint

The major factor that is expected to hinder growth of the global myopia & presbyopia eye drops market include presence of other available treatments for myopia. The other solutions for treatment of myopia include modified spectacle prescription, orthokeratology (ortho-k), and bifocal/ multifocal soft contact lenses.

Key Players

Major players operating in the global myopia & presbyopia eye drops market include Orasis Pharmaceuticals, AbbVie Inc. (Allergan), Novartis AG, OSRX Pharmaceuticals, LENZ Therapeutics, Visus Therapeutics, Ocuphire Pharma Inc., Eyenovia, Inc., Vyluma Inc., and Jawa Pharmaceuticals (India) Pvt. Ltd.

Presbyopia is an eye disorder, in which one’s eyes gradually lose the ability to see things clearly up close distances. It is a normal part of aging. In addition, myopia is a common eye disorder that cause vision loss, and uncorrected myopia is amongst the leading cause of distance vision impairment worldwide. Several individual studies have shown variations in the prevalence of high myopia and myopia in regions and ethnic groups, and there continues to be uncertainty regarding increasing prevalence of myopia. Moreover, market players are focused on inorganic strategies such as partnerships, in order to increase awareness about childhood myopia which in turn is expected to boost the market growth over the forecast period. For instance, in October 2020, Myopia Profile Pty Ltd and Essilor International entered into a partnership agreement for empowering eye care practitioners with skills, clinical knowledge, and practice in managing childhood myopia. The partnership will also boost public awareness of the consequences of myopia, also called near sightedness, and in addition, this will also encourage parents to have their children’s vision tested.

Market Dynamics

Researchers are focusing on research and development activities for the development of new treatment for myopia and presbyopia, by using new technologies, which is expected to drive growth of the global myopia & presbyopia eye drops market over the forecast period. For instance, in January 2019, Bar-Ilan University’s Institute of Nanotechnology and Advanced Materials (BINA), Israel, developed eye drops called as ‘nanodrops’ for correcting the refractive-related vision problems such as myopia and presbyopia. The eye drops are made up of a synthetic nanoparticle solution and have been tested on pig’s cornea. The researchers reported that the drops treated two kinds of refractive errors: myopia and presbyopia in pigs.

Key features of the study:

  • This report provides an in-depth analysis of the global myopia & presbyopia eye drops market, and provides market size (US$ Mn) and compound annual growth rate (CAGR%) for the forecast period (2021–2028), considering 2020 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends,  regional outlook, and competitive strategies adopted by key players
  • It profiles key players in the global myopia & presbyopia eye drops market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, strategies
  • Key companies covered as a part of this study include Orasis Pharmaceuticals, AbbVie Inc. (Allergan), Novartis AG, OSRX Pharmaceuticals, LENZ Therapeutics, Visus Therapeutics, Ocuphire Pharma Inc., Eyenovia, Inc., Vyluma Inc., and Jawa Pharmaceuticals (India) Pvt. Ltd.
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
  • The global myopia & presbyopia eye drops market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have an ease in decision-making through various strategy matrices used in analyzing the global myopia & presbyopia eye drops market

Detailed Segmentation:

  • Global Myopia & Presbyopia Eye Drops Market, By Eye Drops:
    • Atropine Drops
    • Pipeline Products
      • CSF-1
      • AGN – 190584
      • Nyxol
      • UNR844-Cl
      • PRX-100
      • MicroLine
      • Others
  • Global Myopia & Presbyopia Eye Drops Market, By Indication:
    • Myopia
    • Presbyopia
  • Global Myopia & Presbyopia Eye Drops Market, By End User:
    • Hospitals
    • Ophthalmic Clinics
    • Others
  • Global Myopia & Presbyopia Eye Drops Market, By Region:
    • North America
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country
        • U.S.
        • Canada
    • Latin America
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country
        • Germany
        • U.K.
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • By Eye Drops
        • Atropine Drops
        • Pipeline Products
          • CSF-1
          • AGN – 190584
          • Nyxol
          • UNR844-Cl
          • PRX-100
          • MicroLine
          • Others
      • By Indication
        • Myopia
        • Presbyopia
      • By End User
        • Hospitals
        • Ophthalmic Clinics
        • Others
      • By Country/Region
        • South Africa
        • Central Africa
        • North Africa
  • Company Profiles
    • Orasis Pharmaceuticals*
      • Company Highlights
      • Products Portfolio
      • Key Highlights
      • Financial Performance
      • Strategies
    • AbbVie Inc. (Allergan)
    • Novartis AG
    • OSRX Pharmaceuticals
    • LENZ Therapeutics
    • Visus Therapeutics
    • Ocuphire Pharma Inc.
    • Eyenovia, Inc.
    • Vyluma Inc.
    • Jawa Pharmaceuticals (India) Pvt. Ltd.

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objectives and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snapshot, By Eye Drops
      • Market Snapshot, By Indication
      • Market Snapshot, By End User
      • Market Snapshot, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Opportunity
    • Impact Analysis
    • Industry Trends
    • Mergers and Acquisitions
    • Technology Overview
    • Regulation Scenario
    • Key Developments
    • Recent Approvals
    • PEST Analysis
    • Epidemiology
    • Pipeline Analysis
  4. Global Myopia & Presbyopia Eye Drops Market– Impact of Coronavirus (COVID-19) Pandemic
    • Impact of COVID-19 on Supply and Demand
    • Impact of COVID-19 on Research and Development
    • Impact of COVID-19  on Overall Healthcare Market
  5. Global Myopia & Presbyopia Eye Drops Market, By Eye Drops, 2017 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Atropine Drops
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
    • Pipeline Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
      • CSF-1
      • AGN-190584
      • Nyxol
      • UNR844-Cl
      • PRX-100
      • MicroLine
      • Others
  6. Global Myopia & Presbyopia Eye Drops Market, By Indication, 2017 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Myopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
    • Presbyopia
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
  7. Global Myopia & Presbyopia Eye Drops Market, By End User, 2017 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, 2017 – 2028
      • Segment Trends
    • Hospitals
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
    • Ophthalmic Clinics
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 – 2028, (US$ Mn)
  8. Global Myopia & Presbyopia Eye Drops Market, By Region, 2017 – 2028, (US$ Mn)
    • Introduction
      • Market Share Analysis, By Region, 2021 and 2028 (%)
      • Y-o-Y Growth Analysis, For Regions, 2017–2028
      • Regional Trends
    • North America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Mn)
        • U.S.
        • Canada
    • Latin America
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Mn)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Europe
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Mn)
        • U.K.
        • Germany
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Mn)
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Middle East
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries, 2017 – 2028, (US$ Mn)
        • GCC
        • Israel
        • Rest of Middle East
    • Africa
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, By Eye Drops, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Indication, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By End User, 2017 – 2028, (US$ Mn)
      • Market Size and Forecast, and Y-o-Y Growth, By Countries/Region, 2017 – 2028, (US$ Mn)
        • North Africa
        • Central Africa
        • South Africa
  9. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis
      • Orasis Pharmaceuticals
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • AbbVie Inc. (Allergan)
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Novartis AG
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • OSRX Pharmaceuticals
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • LENZ Therapeutics
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Visus Therapeutics
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Ocuphire Pharma Inc.
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Eyenovia, Inc.
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Vyluma Inc.
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
      • Jawa Pharmaceuticals (India) Pvt. Ltd.
        • Company Highlights
        • Product Portfolio
        • Key Highlights
        • Financial Performance
        • Strategies
    • Analyst Views
  10. Section
    • Research Methodology
    • About us

*Browse 25 market data tables and 30 figures on "Global Myopia & Presbyopia Eye Drops Market” - Global forecast to 2028

FAQgrowicon

Frequently Asked Questions

The global myopia & presbyopia eye drops market is estimated to be valued at US$ 52.7 million in 2021 and is expected to exhibit a CAGR of 74.3% between 2021 and 2028.
Factors such as increasing research and development activities for treatment of myopia and presbyopia is expected to drive the market growth during the forecast period.
Myopia segment is expected to hold a major market share during the forecast period in the indication segment.
The major factor hampering growth of the market include availability of alternative treatments for ophthalmic conditions such as myopia and presbyopia.
Major players operating in the market include Orasis Pharmaceuticals, AbbVie Inc. (Allergan), Novartis AG, OSRX Pharmaceuticals, LENZ Therapeutics, Visus Therapeutics, Ocuphire Pharma Inc., Eyenovia, Inc., Vyluma Inc., and Jawa Pharmaceuticals (India) Pvt. Ltd.
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