Myopia Management Lens market: Introduction
- Myopia is the inability to see things clearly until they're relatively close to the eyes. Myopia is a common refractive error among children and young adults. In case of myopia, the light focuses in front of the retina, instead of directly focusing on it. A cornea that is excessively curved for the length of the eyeball or a lens inside the eye that is too thick are a few factors that cause myopia.
- Myopia is corrected with standard prescription eyeglasses or contact lenses, which refocus light on the retina. Lenses used to correct near-sightedness are concave in shape and are thinner at the centre and thicker at the edges. Concave lens move the focus of light in a near-sighted eye from a point in front of the retina further backward so that it falls directly onto the surface of the retina, which helps correct blurry distance vision caused by myopia (nearsightedness), thereby restoring clear vision. These lenses are also called "minus power lenses", as they reduce the focusing power of the eye. The lens powers on an eyeglass prescription for myopia always begin with a minus sign. The higher the power number of the lens, the more myopia it corrects. The power of a lenses is measured in units called diopters (D). For Instance a -4.00 D lens corrects twice the amount of near-sightedness as a -2.00 D lens.
Key Drivers, Restraints, and Opportunities of Global Myopia Management Lens Market
- Rise in global population with myopia is the leading cause of distance refractive error and also leading to vision impairment in some cases. According to the report by WHO, in 2010, myopia affected 1.89 billion people worldwide. Increase in population affected with myopia boosts the global myopia management lenses market. Furthermore, newer features in the lenses, such as anti-reflective coating, is a key factor driving the market.
- There is only one restraint which can be considered in case of myopia management lenses as opposed to other refractive errors is that the images seen through glasses/lenses with minus lenses appear marginally smaller than they actually are. This effect is small enough that the brain can easily account for it, and the individual hardly ever notices it; however, the effect can be noticeable with higher prescriptions. One way to reduce the effect of minified images is for the myopic patient to wear contact lenses. In most cases, patients with smaller prescriptions will only notice a marginal difference.
- Technological advancements in the manufacturing of lenses are providing more advanced and accurate lens for users, which in turn is estimated to fuel the demand for myopia curing lenses and subsequently, create considerable opportunities for the global myopia management lenses market.
North America to Capture Major Share of Global Myopia Management Lens Market
- North America is expected to hold a major share of the global myopia management lens market. Myopia is increasingly becoming a highly prevalent vision issue in the U.S. in the last few years, up 25% from just 40 years ago. According to health experts, this increase is expected continue in the near future. Consistent rise of cases in North America is projected to propel the myopia management lenses market in the region.
- The myopia management lenses market in Asia Pacific is expected to expand at a rapid pace. According to report by WHO in 2010, the prevalence of myopia was highest in East Asia, where China, Japan, the Republic of Korea, and Singapore recorded a prevalence of approximately 50%. Rise in both absolute numbers and as a percentage of the population are estimated to further drive the myopia management lenses market in the region.
Key Players Operating in Scleral lens Market
The global myopia management lens market is highly fragmented, with the presence of various key players. A large number of manufacturers hold a major share in their respective regions. Major players operating in the global myopia management lens market are:
- ALCON VISION LLC
- Bausch & Lomb Incorporated
- Essilor Ltd.
- Haag-Streit UK
- Johnson & Johnson Vision
- NIDEK CO., LTD.
- Topcon Corporation
- Zeiss International
- Ziemer Ophthalmic Systems AG
Global Myopia Management Lens: Research Scope
Global Myopia Management Lens, by Application
- Simple Myopia
- High Myopia
- Pathological Myopia
Global Myopia Management Lens, by Focal Type
Global Myopia Management Lens, by Material
- Silicone hydrogel
- Gas permeable
Global Myopia Management Lens, by Region
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East &Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.