The myopia treatment devices market is witnessing substantial growth, driven by the rising prevalence of myopia globally. As of 2024, the market is valued at USD 18.02 billion and is expected to grow at a compound annual growth rate (CAGR) of 7.80% during the forecast period from 2025 to 2034, reaching an estimated value of USD 38.19 billion by 2034. This article delves into the key aspects of the market, including an overview, market size and share, dynamics and trends, growth drivers, challenges, and a detailed competitor analysis.

Overview of the Myopia Treatment Devices Market

Myopia, also known as nearsightedness, is a refractive error where distant objects appear blurry while close-up objects are seen clearly. The global rise in myopia cases, especially in children and young adults, is contributing to an increased demand for myopia treatment devices. These devices aim to slow down or control the progression of myopia, which can significantly reduce the risk of other vision-related issues such as glaucoma, cataracts, and retinal detachments.

Myopia treatment devices market range from corrective lenses (glasses and contact lenses) to more advanced treatment options, such as orthokeratology (Ortho-K) lenses, atropine eye drops, and myopia control devices like the MiSight lens. These treatments are becoming more popular as preventive measures for those at risk of developing high myopia, which can lead to serious complications later in life.

Size Share of the Myopia Treatment Devices Market

The global myopia treatment devices market was valued at USD 18.02 billion in 2024 and is expected to grow at a robust CAGR of 7.80% from 2025 to 2034. By the end of the forecast period, the market is projected to reach USD 38.19 billion. Several factors are contributing to the growth of the market, including increasing awareness about myopia control and advancements in myopia treatment technologies.

Market Segmentation

• By Device Type: Myopia treatment devices are primarily segmented into corrective lenses (glasses and contact lenses), ortho-K lenses, atropine eye drops, and other innovative devices. Among these, corrective lenses (glasses and contact lenses) remain the most widely used, but newer treatments like Ortho-K lenses and myopia control lenses are gaining traction due to their effectiveness in controlling the progression of myopia.
• By Age Group: The myopia treatment devices market is divided into age groups, primarily focusing on children, adolescents, and adults. Children and adolescents are the largest market segment, as myopia typically begins in childhood and worsens during the growing years.
• By Region: Geographically, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East Africa. Asia-Pacific holds the largest market share, primarily driven by the high prevalence of myopia in countries like China, Japan, and South Korea. North America and Europe also contribute significantly to the market share, with a growing focus on myopia control strategies.

Market Dynamics Trends

Rising Prevalence of Myopia

The global prevalence of myopia is rising at an alarming rate, especially in urban areas. The World Health Organization (WHO) has predicted that by 2050, nearly half of the world's population will be affected by myopia. This surge in myopia cases, particularly among children, is a major driver of the myopia treatment devices market. Prolonged screen time, lack of outdoor activities, and genetic factors are contributing to the increasing prevalence of myopia.

Advancements in Myopia Treatment Technologies

One of the key trends in the market is the continuous advancement in myopia treatment technologies. Companies are developing innovative myopia control devices, such as soft contact lenses and atropine eye drops, which have shown efficacy in slowing down the progression of myopia. Myopia control lenses like MiSight by CooperVision and orthokeratology lenses are gaining popularity for their non-invasive nature and ability to manage the condition without the need for glasses or surgery.

Increasing Awareness about Myopia Control

There is an increasing awareness among parents and healthcare providers regarding the importance of early intervention in myopia management. As myopia can worsen over time, early diagnosis and treatment are critical in controlling its progression and preventing complications. Educational campaigns by various eye care organizations and healthcare professionals are further driving awareness and contributing to market growth.

Rising Disposable Incomes

In emerging markets, rising disposable incomes are enabling more individuals to invest in vision care and advanced myopia treatment devices. As these markets continue to develop, the demand for myopia treatment devices is expected to grow significantly. Additionally, the growing middle class in countries like China and India is contributing to a surge in demand for advanced healthcare services, including myopia management.

Growth Drivers for the Myopia Treatment Devices Market

Increasing Prevalence of Myopia

The most significant driver of the myopia treatment devices market is the increasing prevalence of myopia, particularly in children and adolescents. Myopia is becoming more common globally, with urbanization and lifestyle changes being major contributing factors. The prevalence of myopia is expected to continue to rise, driving demand for myopia treatment devices.

Technological Advancements in Myopia Treatments

Technological advancements, such as the development of myopia control contact lenses, advanced Ortho-K lenses, and drug-based treatments like atropine, are leading to improved treatment outcomes. These innovations are attracting a larger patient base who are seeking effective, non-invasive ways to manage and treat myopia.

Growing Focus on Preventive Care

There is an increasing emphasis on preventive healthcare, and myopia control is a critical component of this trend. Myopia, if left untreated, can lead to severe complications later in life, such as retinal detachment, cataracts, and glaucoma. As a result, there is growing interest in preventive myopia treatments that can slow the progression of the condition, particularly in children.

Government Support and Initiatives

Governments around the world are becoming more involved in myopia control, recognizing the long-term healthcare burden posed by the rising prevalence of myopia. Many countries are introducing initiatives and policies to support research into myopia treatment devices and ensure better access to healthcare services for managing myopia.

Market Opportunities and Challenges

Opportunities

• Untapped Markets in Developing Countries: Many developing countries, particularly in Asia and Latin America, present significant growth opportunities for the myopia treatment devices market. As awareness of myopia treatment grows, the demand for myopia treatment devices is expected to surge in these regions.
• Growing Acceptance of Myopia Control Products: The increasing acceptance of non-invasive myopia control products such as Ortho-K lenses and myopia control contact lenses offers manufacturers new opportunities to expand their product portfolios and capture a larger share of the market.
• Personalized and Customized Treatments: There is a growing trend toward personalized healthcare, and myopia treatment devices are no exception. Advances in technology are making it possible to tailor treatments to an individual's specific needs, offering improved outcomes and better patient satisfaction.
• Strategic Collaborations and Partnerships: Leading companies in the market can explore strategic collaborations with research institutions and healthcare providers to enhance product development and expand market reach.

Challenges

• High Cost of Treatment Devices: One of the key challenges facing the market is the high cost of some myopia treatment devices, such as Ortho-K lenses and myopia control contact lenses. This may limit accessibility for patients in low-income regions or those without comprehensive insurance coverage.
• Regulatory Hurdles: The development and approval of new myopia treatment devices often face stringent regulatory requirements, which can slow down the market entry of innovative products. Ensuring the safety and efficacy of these devices is essential but can lead to extended timelines for market approval.
• Limited Awareness in Rural Areas: While awareness of myopia treatment options is growing in urban areas, there remains a lack of awareness in rural areas. Educating individuals in these regions about the importance of early intervention and myopia control devices will be key to unlocking market potential.

Competitor Analysis in the Myopia Treatment Devices Market

Key players in the myopia treatment devices market include:

• CooperVision: A leading global player in the contact lens market, CooperVision offers a range of myopia control lenses, including MiSight, designed to slow the progression of myopia in children.
• Johnson Johnson Services, Inc.: Johnson Johnson provides a variety of eye care products, including contact lenses for myopia correction and myopia management.
• Essilor International: Essilor, a global leader in optical products, has a strong presence in the myopia control market with its range of lenses and eye care solutions.
• Bausch Lomb Inc.: Known for its comprehensive portfolio of contact lenses and optical products, Bausch Lomb is expanding its offerings in myopia treatment devices.
• Lucid Korea Co., Ltd.: Specializes in the development of Ortho-K lenses and other myopia management devices, with a strong presence in the Asia-Pacific region.
• Euclid Systems Corp.: A major player in the Ortho-K lenses market, Euclid provides effective treatments for myopia control.
• Nidek Co., Ltd.: Nidek offers a variety of vision care products, including myopia treatment devices, and is known for its advanced ophthalmic equipment.
• Schwind Eye Tech Solutions GmbH: Known for its innovative laser vision correction technologies, Schwind is also expanding its presence in the myopia treatment space.

Other notable players include Abb Optical Group, SightGlass Vision, Inc., and AbbVie Inc., which are also contributing to the growth and innovation in the myopia treatment devices market.