The 7 major myopia markets are expected to exhibit a CAGR of 6.14% during 2024-2034.
Report Attribute
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Key Statistics
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Base Year
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2023
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Forecast Years
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2024-2034
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Historical Years
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2018-2023
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Market Growth Rate 2024-2034 | 6.14% |
The myopia market has been comprehensively analyzed in IMARC's new report titled "Myopia Market: Epidemiology, Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2034". Myopia, also known as nearsightedness, refers to a refractive error of the eye that makes distant objects appear blurry while close objects remain clear. It develops when the eyeball is too long or the cornea or lens is too curved, which causes light rays to be focused in front of the retina instead of directly on it. The main symptom of myopia is blurry vision when looking at things in the distance, such as road signs or chalkboards. Various other symptoms may include eye strain, headaches, and difficulty seeing at night or in dimly lit environment. In some cases, myopia may also cause squinting or the need to frequently adjust the distance between the eyes and the object being viewed. The diagnosis typically involves a comprehensive eye examination conducted by an optometrist or ophthalmologist. During the exam, the eye doctor uses a variety of tools and tests to measure the curvature of the cornea and the length of the eye, as well as assess the clarity of vision at different distances. The healthcare professional may also perform a retinal exam to check for any anomalies or signs of eye disease.
The growing prevalence of numerous associated risk factors, such as prolonged close-up activities, excessive screen time, lack of outdoor exposure, genetic predisposition, etc., is primarily driving the myopia market. Furthermore, the widespread adoption of atropine eye drops to dilate the pupils and reduce the progression of myopia in children is creating a positive outlook for the market. Apart from this, the escalating utilization of orthokeratology, since it aids in reshaping the cornea temporarily, allowing for clearer vision without the need for glasses or contact lenses during the day, is acting as another significant growth-inducing factor. Additionally, the introduction of objective refraction measurement techniques, such as autorefraction and wavefront aberrometry, which provide more accurate as well as consistent measurements than subjective methods, is also augmenting the market growth. Moreover, the emerging popularity of photorefractive keratectomy over LASIK surgery on account of its several associated benefits, including reduced likelihood of corneal ectasia, comparable long-term visual outcomes, lowered risk of flap-related complications like dislocation or infection, etc., is expected to drive the myopia market in the coming years.
IMARC Group's new report provides an exhaustive analysis of the myopia market in the United States, EU4 (Germany, Spain, Italy, and France), United Kingdom, and Japan. This includes treatment practices, in-market, and pipeline drugs, share of individual therapies, market performance across the seven major markets, market performance of key companies and their drugs, etc. The report also provides the current and future patient pool across the seven major markets. According to the report, the United States has the largest patient pool for myopia and also represents the largest market for its treatment. Furthermore, the current treatment practice/algorithm, market drivers, challenges, opportunities, reimbursement scenario, unmet medical needs, etc., have also been provided in the report. This report is a must-read for manufacturers, investors, business strategists, researchers, consultants, and all those who have any kind of stake or are planning to foray into the myopia market in any manner.
CBT-009 is under clinical development by Cloudbreak Therapeutics for the treatment of myopia progression. It is administered through the ophthalmic route. CBT-009 is a unique topical formulation of atropine indicated for the treatment of juvenile myopia.
NVK002 is an experimental, preservative-free, low-dose atropine eye drop that employs Vyluma's patented technology to improve stability, tolerance, and safety. Atropine for myopia addresses the anatomic alterations (i.e., longer ocular axial length) associated with myopia development, which are difficult to achieve using spectacles or contact lenses.
DE 127 is an eyedrop medication developed by Santen in collaboration with the Singapore Eye Research Institute (SERI), a national ophthalmic and visual research facility in Singapore. The product contains 0.025% atropine sulfate hydrate and is intended to reduce the progression of myopia. Atropine is a reversible antagonist of muscarine receptors that inhibits muscarine receptor activity, functioning directly or indirectly on the retina or sclera to prevent the thinning or stretching of the sclera, reducing the elongation of the axial length of the eye.
Time Period of the Study
Countries Covered
Analysis Covered Across Each Country
This report also provides a detailed analysis of the current myopia marketed drugs and late-stage pipeline drugs.
In-Market Drugs
Late-Stage Pipeline Drugs
Drugs | Company Name |
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CBT-009 | Cloudbreak Therapeutics |
NVK002 | Vyluma |
DE 127 | Santen Pharmaceutical |
OT101 | Autotelic/Oncotelic Therapeutics |
MicroPine | Eyenovia |
*Kindly note that the drugs in the above table only represent a partial list of marketed/pipeline drugs, and the complete list has been provided in the report.
Market Insights
Epidemiology Insights
Myopia: Current Treatment Scenario, Marketed Drugs and Emerging Therapies