Myopia Control Lens (Plastic Lens) Market Size, Share, Growth and Industry Analysis by Price (Prescription Eyeglass Lenses, And, Contact Lenses), By Application (Teenagers, And, Adults) Regional Forecast To 2031

Updated On: 22 April 2024

Myopia Control Lens (Plastic Lens) Market REPORT OVERVIEW

• 

• Request a Free Sample to learn more about this report

The global myopia control lens (plastic lens) market size is expected to be worth USD 578.69 million in 2021. As per our research, the market is projected to touch USD 2382.79 million by 2027 with a CAGR of 26.6% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden spike in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Myopia control lenses, often made of plastic, are innovative optical devices designed to combat nearsightedness (myopia) in individuals, particularly children. These lenses incorporate advanced optics to address the progression of myopia by altering the way light focuses on the retina. They work by redistributing peripheral light to the central retina, slowing down the elongation of the eyeball, a common cause of myopia.

These plastic lenses are lightweight and comfortable for extended wear, making them suitable for daily use. They are a promising solution in the effort to mitigate the growing global myopia epidemic, offering improved vision and potentially reducing the risk of associated eye conditions. All of these factors have played an important role in increasing myopia control lens (plastic lens) market growth.

COVID-19 impact: Increased Screen Time during Pandemic Increased Market Growth

The pandemic of COVID-19 had an adverse impact on all the industries and sectors throughout the world. The COVID-19 pandemic has had a significant impact on the use of myopia control lenses, including plastic lenses. With increased screen time due to remote learning and work-from-home arrangements, the prevalence of myopia among children and young adults has risen.

This has driven greater awareness and demand for myopia control solutions, including specialized plastic lenses. Optometrists and eye care professionals have observed an uptick in patients seeking myopia management options. Additionally, telehealth consultations have made it easier for individuals to access information and prescriptions for these lenses. The pandemic has underscored the importance of myopia control in maintaining eye health during prolonged periods of digital engagement.

LATEST TRENDS

"Lens with Multifocal Designs and Peripheral Defocus Technology to Fuel Market Growth"

Recent innovations in myopia control lens (plastic lens), often made of advanced plastics, have revolutionized the field of optometry. These lenses now come with customizable features such as multi-focal designs and peripheral defocus technology, allowing for more precise and effective myopia management. Additionally, some lenses integrate smart technology to monitor eye health and usage, providing valuable data for personalized treatment plans.

 Moreover, the development of daily disposable myopia control lenses has enhanced convenience and hygiene. These innovations reflect a growing commitment to addressing the global myopia epidemic, offering patients more accessible and tailored solutions to slow the progression of nearsightedness while optimizing visual clarity.

SEGMENTATION

• 

• Request a Free Sample to learn more about this report

By Type:

The market can be divided on the basis of price into the following segments:

Prescription eyeglass lenses, and, contact lenses.

The prescription eyeglass lenses segment is projected to hold the dominant market share through 2028 the forecasting period.

By Application:

The market can be divided on the basis of application into the following segments:

Teenagers, and, adults.

The teenager’s segment is predicted to dominate the market through 2028.

DRIVING FACTORS

"Increasing Awareness about Risks Related to Myopia to Amplify Market Growth"

The adoption of myopia control lens (plastic lens), is driven by several key factors. Firstly, the rising prevalence of myopia, particularly among children, has spurred the demand for effective solutions to curb its progression. Secondly, increasing awareness of the long-term risks associated with high myopia, such as retinal detachment and glaucoma, has motivated individuals and parents to seek myopia control options.

Additionally, advancements in lens technology, including comfortable and convenient daily disposable options, have made these lenses more appealing. Lastly, the recognition of myopia control as a crucial aspect of eye health has driven optometrists and eye care professionals to recommend and prescribe these lenses proactively. All of the above-mentioned factors are propelling the myopia control lens (plastic lens) market share.

"Evolving Research and Clinical Trials to Drive Market Growth"

In addition to the mentioned factors, several other drivers fuel the growing adoption of myopia control lenses (plastic lens). The increasing reliance on digital devices and screen-based activities, exacerbated by the COVID-19 pandemic, has heightened the risk of myopia progression, pushing individuals to explore preventive measures like myopia control lenses.

Furthermore, evolving research and clinical trials continually validate the efficacy and safety of these lenses, boosting their credibility among eye care professionals and patients. The proactive stance of healthcare systems and educational institutions in promoting myopia control as part of holistic eye care has also played a pivotal role in popularizing these innovative lenses.

RESTRAINING FACTOR

"Limited Insurance Coverage for Myopia Control to Deteriorate Market Growth"

Despite their benefits, myopia control lenses, including those made of plastic, face some restraining factors. Cost can be a significant barrier, as specialized lenses and regular follow-up appointments can be expensive. Limited insurance coverage for myopia control adds to the financial burden. Compliance can be challenging, especially for young wearers who may find daily use cumbersome. Additionally, not all individuals respond equally to myopia control treatments, making it less effective for some. There's also a need for increased awareness among parents and eye care professionals about myopia control options. These factors, combined, contribute to the slower adoption and accessibility of myopia control lenses.

Regional Insights

• 

• Request a Free Sample to learn more about this report

"Asia Pacific to Dominate Market owing to Well built Infrastructure"

Asia Pacific emerges as the leading region in the adoption of myopia control lenses, including those crafted from advanced plastics. This phenomenon can be attributed to several factors. Firstly, the region is experiencing a myopia epidemic, particularly in countries like China and Singapore, which has led to a strong demand for effective myopia management solutions.

Secondly, Asia Pacific has a well-established eye care infrastructure with a high prevalence of optometrists and ophthalmologists actively promoting myopia control. Lastly, cultural emphasis on education and the extensive use of digital devices among Asian youth have heightened awareness of myopia's risks. These factors collectively position the Asia Pacific region at the forefront of myopia control lens adoption.

Key Industry Players

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profile

• EssilorLuxottica (France)
• Hydron (U.S.)
• Indo Internacional (Brazil)
• Carl Zeiss AG (Germany)
• Seed (South Korea)
• Hoya Corporation (Japan)
• Bausch+Lomb (U.S.)
• MingYue Optical (China)
• OVCTEK (Taiwan)
• Johnson and Johnson Vision Care (U.S.)
• Fielmann AG (Germany)
• St.Shine Optical (Taiwan)
• Brighten Optix (Taiwan)
• Weicon (Germany)
• CooperVision (U.S.)
• GBV (China)
• Novartis (CIBA Vision) (Switzerland)
• Menicon (Japan)
• WeiXing Optical (Taiwan)
• Rodenstock (Germany)

Report Coverage

The report provides an insight into industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. The report also lists the key industry players to understand the competition.