Myopia Control Lens Market to Show Exponential Growth as Demand for Curved Displays Increase.

The global Myopia Control Lens (Plastic Lens) market size is estimated to be worth US$ 604.94 million in 2021 and is forecast to a readjusted size of US$ 2,342.17 million by 2028 with a CAGR of 20.26% during the review period.

Myopia, also known as nearsightedness, is a condition in which distant objects appear blurry while close objects are clear. Myopia occurs when the eyeball is too long or when the cornea, the clear front surface of the eye, has too much curvature. Light rays entering the eye are focused in front of the retina instead of on the retina. This causes distant objects to appear blurry.

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Myopia typically develops in childhood and continues to progress through adolescence. Nearly one-third of Americans are myopic, and myopia is on the rise globally.

This report focuses on Myopia Control Lens (Plastic Lens) volume and value at the global level, regional level, and company level. From a global perspective, this report represents overall Myopia Control Lens (Plastic Lens) market size by analyzing historical data and future prospect. Regionally, this report focuses on several key regions: North America, Europe, China, Japan, South Korea, Taiwan, etc.

The research report includes specific segments by region (country), by company, by Type and by End User. This study provides information about the sales and revenue during the historic and forecasted period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

Segment Analysis:

The research report includes specific segments by region (country), by manufacturers, by Type and by End User. Each type provides information about the production during the forecast period of 2017 to 2028. By End User segment also provides consumption during the forecast period of 2017 to 2028. Understanding the segments helps in identifying the importance of different factors that aid the market growth.

By Company

The global major manufacturers of Myopia Control Lens (Plastic Lens) include ZEISS, HOYA Corporation, EssilorLuxottica, Ovctek, Alpha Corporation, Paragon (CooperVision), EUCLID, Brighten Optix, and Lucid Korea, etc. In terms of revenue, the global 3 largest players have a 49.10% market share of Myopia Control Lens (Plastic Lens) in 2021.

ZEISS

HOYA Corporation

EssilorLuxottica

ovctek

Alpha Corporation

Paragon (CooperVision)

EUCLID

Brighten Optix

Lucid Korea

Procornea (CooperVision)

WeiXing Optical

Context

Jiangsu Green Stone Optical (SETO)

Conant

ZEISS

Segment by Type

Myopia Control Spectacle Lenses accounting for 59.60% of the Myopia Control Lens (Plastic Lens) global market in 2021, is projected to value US$ 1,443.36 million by 2028, growing at a revised 20.71% CAGR in the post-COVID-19 period. While Children (6-12 Years Old) segment is altered to a 20.37% CAGR throughout this forecast period and will hold a share about 89.21% in 2028.

Myopia Control Spectacle Lenses

Orthokeratology Lenses

Segment by End User

Children (6-12 Years Old)

Teenagers (12-18 Years Old)

Consumption by Region

North America

Canada

Mexico

Asia-Pacific

China

Japan

South Korea

China Taiwan

Southeast Asia

India

Australia

Rest of APAC

Europe

Germany

France

Italy

Russia

Spain

Rest of Europe

Latin America

Brazil

Argentina

Colombia

Rest of Latin America

Market Drivers:

Myopia, or nearsightedness, is a growing problem worldwide. The condition affects approximately 1.4 billion people globally, and the number is expected to rise to nearly 5 billion by 2050. Myopia occurs when the eye grows too long, preventing light from focusing directly on the retina and resulting in blurred vision.

There are several factors driving the myopia control lens market. One is the increasing prevalence of myopia, especially among children and young adults. This is due in part to increased screen time and other near work activities. Another driver is the availability of new myopia control lenses that can slow down the progression of myopia and even improve vision in some cases. And finally, insurance coverage for myopia control lenses is increasing, making them more accessible to patients.

With the rising prevalence of myopia and the availability of new, effective treatments, the myopia control lens market is expected to grow significantly in the coming years.

Market Challenges:

The myopia control lens market faces several challenges that may hamper market growth in the forecast period. These include high costs associated with myopia control lenses, lack of awareness among consumers, and competition from other vision correction options. Additionally, myopia is often diagnosed in young children, who may be unwilling or unable to wear corrective lenses. This presents a significant challenge for market growth, as early intervention is key to effective myopia control.

Key Indicators Analyzed:

Market Players & Competitor Analysis: The report covers the key players of the industry including Company Profile, Product Specifications, Production Capacity/Sales, Revenue, Price and Gross Margin 2016-2027 & Sales with a thorough analysis of the markets competitive landscape and detailed information on vendors and comprehensive details of factors that will challenge the growth of major market vendors.

Global and Regional Market Analysis: The report includes Global & Regional market status and outlook 2016-2027. Further the report provides break down details about each region & countries covered in the report. Identifying its sales, sales volume & revenue forecast. With detailed analysis by types and applications.

Market Trends: Market key trends which include Increased Competition and Continuous Innovations.

Opportunities and Drivers: Identifying the Growing Demands and New Technology

Porters Five Force Analysis: The report provides with the state of competition in industry depending on five basic forces: threat of new entrants, bargaining power of suppliers, bargaining power of buyers, threat of substitute products or services, and existing industry rivalry.

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Estimates 2022-2027 2021-2025 Cy Bar Report on, Status and Forecast, by Players, Types and Applications market development trends with the recent trends and SWOT analysis

Market dynamics scenario, along with growth opportunities of the market in the years to come

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects

Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.

Market value (USD Million) and volume (Units Million) data for each segment and sub-segment

Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years

Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

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