MYOPIA CONTROL LENSES MARKET ANALYSIS

Global myopia control lenses market size is estimated to be valued at US$ 1.48 billion in 2023 and is expected to reach US$ 3.63 billion by 2030, by exhibiting a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030.

Global myopia control lenses market growth is driven by the increasing awareness among parents, eyecare professionals, and individuals about the long-term risks associated with myopia and the importance of managing its progression. With advancements in lens technology and growing scientific research supporting their effectiveness, myopia control lenses are becoming a preferred choice for individuals, those who are looking to slow down the progression of their myopia. The market is witnessing innovation in lens designs, including multifocal, dual-focus, and orthokeratology lenses, offering personalized solutions for patients of different age groups and lifestyles. For instance, in September 2021, Johnson & Johnson Vision, a part of the Johnson & Johnson Medical Devices Companies, announced that Health Canada has approved ACUVUE Abiliti 1-Day Soft Therapeutic Lenses for Myopia Management. Abiliti 1-Day soft therapeutic lenses are a new daily wear, single-use, disposable lens solution that has the ability to reduce the progression of myopia and is specifically developed for children aged 7 to 12 at the start of treatment.

Furthermore, governments, healthcare organizations, and educational institutions are recognizing the significance of myopia control as a public health issue. This recognition has led to the implementation of strategies that promote the use of myopia control lenses as part of comprehensive myopia management programs. Collaborations between eyecare professionals, researchers, and policymakers are driving the adoption of these lenses, thereby contributing to the market's growth. With the market poised for expansion, eyewear manufacturers and industry players are investing in research and development (R&D) efforts to introduce innovative myopia control lens solutions, thus ultimately benefiting the individuals who are seeking effective means to address their myopia.

Global Myopia Control Lenses Market Regional Insights

• North America: North America is the largest market for myopia control lenses, which accounted for a market share of over 32.6% in 2022. North America is expected to have a significant market share in the myopia control lenses market. The region has a well-developed healthcare infrastructure and a high level of awareness about myopia and its management. The presence of key market players, technological advancements, and a strong research base contributes to the market growth in this region.Increasing concerns about myopia-related eye health issues and the emphasis on early intervention are driving the adoption of myopia control lenses.
• Europe: Europe is the second-largest market for myopia control lenses, which accounted for a market share of over 26.2% in 2022. Europe is another important market for myopia control lenses. The region has a high prevalence of myopia, especially in countries like Germany, France, and the U.K. Increasing awareness about myopia management and the long-term impact of myopia on eye health are propelling the demand for myopia control lenses. Furthermore, the European market benefits from advancements in lens technology, research collaborations, and a proactive approach towards myopia control.
• Asia Pacific: Asia Pacific is the fastest-growing market for myopia control lenses, which accounted for a market share of over 20.7% in 2022. The Asia Pacific region is experiencing a significant increase in myopia cases, particularly among younger populations. Countries such as China, Japan, South Korea, and Singapore have witnessed a high prevalence of myopia and are actively addressing this public health concern. The rising awareness about myopia control and the strong emphasis on children's eye health in these countries are driving the demand for myopia control lenses. The presence of a large population and increasing disposable income levels contributes to market growth in this region.

Figure 1. Global Myopia Control Lenses Market Share (%), By Region, 2023

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Analyst’s View:

The Global Myopia Control Lenses Market presents a landscape of substantial growth and innovation. Myopia control lenses provide clear vision without the need for glasses or traditional contact lenses during the day. This can lead to an improved quality of life for individuals who find glasses or standard contact lenses inconvenient. Moreover, myopia control lenses have been shown in some studies to slow down the progression of myopia, particularly in children and adolescents. This can help reduce the risk of developing high levels of myopia, which is associated with a higher risk of eye-related complications thus, driving the market development over the forecasted period.

Global Myopia Control Lenses Market Drivers:

• Rising prevalence of myopia: The escalating prevalence of myopia worldwide, particularly among children and young adults is a significant driver for the global myopia control lenses market. As myopia rates continue to increase, there is a growing need for effective solutions to manage and slow down its progression, thus leading to higher demand for myopia control lenses. In May 2021, according to an article published by National Center for Biotechnology Information, myopia prevalence in urban children aged 5 to 15 years increased from 4.44% in 1999 to 21.15% in 2019. Myopia prevalence is expected to rise to 31.89% in 2030, 40.01% in 2040, and 48.14% in 2050. The generational effect (induced by the nature of the ailment lasting a lifetime once formed) will result in a 10.53% increase in myopia prevalence across all age groups during the next three decades (2020-2050).
• Growing awareness and concern for eye health: There is an increased awareness among parents, healthcare professionals, and individuals about the long-term risks associated with myopia, such as an increased likelihood of developing serious eye conditions like retinal detachment, glaucoma, and myopic maculopathy. This growing awareness and concern for eye health is expected to drive the adoption of myopia control lenses as a proactive measure to address the condition and reduce the potential risks. For instance, in July 2022, HOYA Vision Care, a pioneer in optical technology innovation, launched the 'Myopia Care for Kids,' a global myopia education and marketing campaign. The initiative's goals are twofold: first, to raise awareness about the growing global rise of myopia in children, which typically begins in children ages 6-14, and second, to provide detailed information about the innovative MiYOSMART spectacle lens which is designed specifically for kids to slow down myopia progression in children ages 8-13.
• Advancements in lens technology: The continual advancements in lens technology have played a pivotal role in the growth of the global myopia control lenses market. Manufacturers are developing specialized lenses with innovative designs and materials that effectively address myopia progression. These lenses include multifocal lenses, dual-focus lenses, orthokeratology lenses, and other specialized designs tailored for myopia control. The availability of such advanced lens options contributes to increased acceptance and adoption among patients and eyecare professionals.
• Scientific research and evidence: The mounting body of scientific research and clinical studies supporting the efficacy of myopia control lenses has significantly influenced market growth of the global myopia control lenses. Numerous studies have demonstrated the ability of specific lens types, such as multifocal lenses or orthokeratology lenses, to slow down the progression of myopia in children and adolescents. This research has provided strong evidence for the effectiveness of myopia control lenses and has increased their acceptance and recommendation by eyecare professionals.

Global Myopia Control Lenses Market Opportunities:

• Increasing demand for pediatric myopia management: The rising prevalence of myopia in children and adolescents has created a significant opportunity for myopia control lenses. As parents become more aware of the potential long-term risks associated with myopia, they are actively seeking solutions to manage and slow down its progression in their children. Manufacturers can capitalize on this demand by developing specialized myopia control lenses that caters specifically to the pediatric population. For instance, on April 04, 2023, HOYA Vision Care, a pioneer in optical technology innovation, launched  the MiYOSMART sun range, with a global roll-out set to begin in April 2023 and a planned reach of 30 countries in the next months. MiYOSMART Chameleon photochromic spectacle lenses and MiYOSMART Sunbird polarized spectacle lenses were developed using D.I.M.S. Technology to slow down myopia progression in children while giving protection from intense sunlight.
• Expansion in emerging markets: There is considerable potential for market expansion in emerging economies where the prevalence of myopia is rapidly increasing. Countries in Asia, such as China, India, and Southeast Asian nations, present significant opportunities due to their large populations and growing middle-class segment. Manufacturers can focus on these markets by establishing partnerships, distribution networks, and marketing strategies which are tailored to the specific needs and preferences of these regions. For instance, on August 21, 2023, ZEISS, a global pioneer of science in optics and optoelectronics, announced the opening of its first Myopia Centre in India in collaboration with S.R. Gopal Rao Opticians & Optometrists, the veteran optician in Karnataka. The ZEISS-supported Myopia Centre, located in the heart of Bengaluru, India, meets the eye care needs of children with vision-related challenges.
• Collaboration with eyecare professionals: Collaborating with eyecare professionals, including optometrists and ophthalmologists, is crucial for the success of myopia control lenses. Building strong relationships and providing education and training to eyecare professionals can enhance their understanding of myopia management and increase their confidence in prescribing and recommending myopia control lenses. Such collaborations can lead to increased adoption and market penetration.

Global Myopia Control Lenses Market Trends:

• Customization and personalization: There is an increasing demand for customized and personalized myopia control lenses. Eyecare professionals are recognizing the importance of individualized approaches to myopia management, considering factors such as the patient's eye characteristics, lifestyle, and visual needs. Manufacturers are responding to this trend by offering lenses that can be tailored to meet the specific requirements of each patient.
• Integration of digital technologies: The integration of digital technologies in the myopia control lenses market is gaining traction. Digital solutions, such as smart contact lenses or wearable devices, are being explored to monitor and manage myopia progression. These technologies offer opportunities for real-time monitoring, data collection, and personalized treatment adjustments. For instance, on April 12, 2023, SightGlass Vision, a company developing innovative spectacle lenses to slow down the progression of myopia in children, announced the presentation of its myopia control spectacle lens technology at the International Congress of Ophthalmology and Optometry China (COOC), in partnership with Nikon Lenswear, one of the leaders in eyecare products. The conference took place in Shanghai, China from April 14-16, 2023.

Global Myopia Control Lenses Market Restraints:

• Limited awareness and education: Despite increasing awareness about myopia, there is still a lack of comprehensive understanding among the general public regarding myopia control and the available treatment options, including myopia control lenses. Limited awareness can hinder the demand for these lenses and the implementation of effective myopia management strategies.
• Affordability and accessibility: Cost and accessibility are significant barriers to the widespread adoption of myopia control lenses. Some specialized lenses, such as orthokeratology lenses, can be relatively expensive, thus making them less accessible to certain populations. Additionally, availability of myopia control lenses may be limited in certain regions or healthcare settings, thereby limiting their accessibility for those who could benefit from them. In December 2021, according to an article published by NCBI, annual prevalence-based direct expenditures for myopia were from US$ 14-26 (USA), US$ 56 (Iran), and US$ 199 (Singapore) per capita, respectively. Annually, the direct costs of contact lenses ranged from US$ 198.30 to US$ 378.10, while spectacles and refractive operations cost US$ 342.50 and US$ 19.10, respectively.
• Compliance and adaptation challenges: Successfully managing myopia with myopia control lenses requires consistent and proper usage. However, ensuring patient compliance can be a challenge, particularly with younger patients who may experience difficulties adapting to the lenses or adhering to the prescribed wearing schedules. Poor compliance can limit the effectiveness of myopia control lenses in slowing down myopia progression.

Counterbalance: More awareness programs need to be carried out by the key market players for the adoption of myopia control lenses among the general public. The cost and affordability needs also to be considered by them, so that they are accepted by a wider section of the population.

Recent Developments

New product launches

• On January 25, 2023, Essilor, a French prescription lens company, launched the Essilor Stellest lens in India to combat myopia progression and assist in protecting children's eyesight in the future. Essilor's research and development teams created the Essilor Stellest lens by using an innovative technique called H.A.L.T. technology (Highly Aspherical Lenslet Target).
• In December 2022, The Hong Kong Polytechnic University (PolyU) announced that Vision Science and Technology Co. Ltd. (VST), a PolyU-supported start-up, has successfully developed the nano multi-rings defocus incorporated lens for managing the progression of myopia (or short-sightedness).
• In September 2022, Johnson & Johnson Vision, a global leader in eye health and a division of Johnson & Johnson MedTech, announced U.S. Food and Drug Administration (U.S. FDA) approval of an expanded range of ACUVUE Abiliti Overnight Therapeutic Lenses for myopia management, ranging from 4.00 diopters to 6.00 diopters (formerly 4.00 diopters).

Partnerships

• In March 2021, CooperVision, a division of The Cooper Companies, Inc., announced collaboration with the American Academy of Ophthalmology, world's largest association of eye physicians and surgeons, to safeguard children against the vision-threatening effects of high myopia (nearsightedness). As part of its global leadership in establishing evidence-based clinical and educational techniques that advance myopia management as standard of care, the company provided a five-year investment to help underwrite the initiative.
• In February 2021, Cooper Companies Inc., one of the world's leading contact lens manufacturers, and EssilorLuxottica, a French prescription lens company, formed a joint venture to accelerate the commercialization of SightGlass Vision's innovative spectacle lenses, which are designed to slow the progression of myopia in children.

Figure 2. Global Myopia Control Lenses Market Share (%), By Product Type, 2023

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Top Companies in Global Myopia Control Lenses Market

• Essilor International
• Johnson & Johnson Vision
• CooperVision
• Hoya Corporation
• Zeiss Group
• Bausch + Lomb
• Menicon Co., Ltd.
• SEED Co., Ltd.
• Alcon (Novartis)
• Visioneering Technologies, Inc.
• Paragon Vision Sciences
• Euclid Systems Corporation
• Art Optical Contact Lens, Inc.
• SynergEyes, Inc.
• Nevakar Inc.

Definition: Myopia control lenses are specialized eyewear which is designed to manage and slow down the progression of myopia, also known as nearsightedness. These lenses employ various optical techniques, such as multifocal designs, orthokeratology, or peripheral defocus, to reshape the way by which the light enters the eye and optimize visual clarity.