At 8.2% CAGR, Europe Myopia Treatment Market is Projected to be Worth US$ 4,746.13 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe myopia treatment market was valued at US$ 2,518.79 million in 2022 and is expected to reach US$ 4,746.13 million by 2030, registering a CAGR of 8.2% from 2022 to 2030. Application of artificial intelligence in myopia treatment and rising availability of advanced technologies for treating the targeted myopia are among the critical factors attributed to drive the Europe myopia treatment market growth.

The rising availability of advanced technologies for treating targeted myopia is a significant opportunity for the myopia treatment market. Advances in technologies such as laser-assisted in-situ keratomileusis (LASIK), photorefractive keratectomy (PRK), and implantable collamer lenses (ICL) have made it possible to correct myopia more effectively and with fewer complications. For instance, in August 2023, Johnson & Johnson Vision launched a next-generation laser vision correction solution, the ELITATM Platform, during the 41st European Society of Cataract and Refractive Surgeons (ESCRS) congress. Various ground-breaking data were also presented during the congress; over 30 abstracts backed by Johnson & Johnson Vision have been approved for presentation. Surgeons can apply the innovative SILK (i.e., Smooth Incision Lenticule Keratomileusis) treatment to treat myopic patients who have astigmatism or do not utilize the ELITATM Platform. The ELITATM Platform offers surgeons an exceptionally smooth and uncomplicated lenticular removal procedure with next-day outcomes and recovery owing to its fast laser delivery technology and ultra-precise laser pulse. These advanced technologies have traditionally been expensive and inaccessible to many patients. Still, as they become more widely available, they present an opportunity for the myopia treatment market to expand its reach and provide better treatment options to a larger patient population. In addition to these advanced technologies, other emerging treatments such as orthokeratology (ortho-k) and atropine eye drops are gaining popularity as effective methods for managing myopia. In May 2021, CooperVision Specialty EyeCare's Procornea DreamLite night lenses received European approval for slowing myopia progression in children and young adults. The popular orthokeratology contact lens is the latest CooperVision myopia control product to gain the CE Mark, joining EyeDream and Paragon CRT ortho-k designs, MiSight day soft contact lenses, and SightGlass Vision Diffusion Optics Technology spectacle lenses. These non-invasive treatments can be more affordable than surgical options, making them accessible to a wider range of patients. Overall, the rising availability of advanced technologies for treating targeted myopia presents a significant opportunity for the myopia treatment market. By providing patients with more effective and accessible treatment options, the market can help improve vision health outcomes and address a significant unmet need in the global healthcare landscape.

On the contrary, lack of skilled professionals hurdles the growth of Europe myopia treatment market.

Based on type, the Europe myopia treatment market is segmented into high myopia, degenerative myopia, progressive myopia. The high myopia segment held 62.3% market share in 2022, amassing US$ 1,569.66 million. It is projected to garner US$ 3,061.42 million by 2030 to register 8.7% CAGR during 2022-2030.

In terms of treatment, the Europe myopia treatment market is segmented into low-dose atropine eye drops, contact lenses, ortho-k, and refractive surgery. The low-dose atropine eye drops segment held 38.6% share of Europe myopia treatment market in 2022, amassing US$ 971.55 million. It is anticipated to garner US$ 1,890.27 million by 2030 to expand at 8.7% CAGR during 2022-2030. Furthermore, the refractive surgery segment is subcategorized into LASIK, and PRK.

By age group, the Europe myopia treatment market is bifurcated into adult myopia and childhood myopia. The adult myopia segment held 65.5% share of Europe myopia treatment market in 2022, amassing US$ 1,648.74 million. It is projected to garner US$ 3,166.27 million by 2030 to expand at 8.5% CAGR from 2022 to 2030.

Based on end user, the Europe myopia treatment market is categorized into hospitals and clinics, specialty clinics, and refractive surgery centers. The hospitals and clinics segment held 65.5% share of Europe myopia treatment market in 2022, amassing US$ 1,651.00 million. It is predicted to garner US$ 3,191.05 million by 2030 to expand at 8.6% CAGR between 2022 and 2030.

Based on country, the Europe myopia treatment market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that Germany captured 23.2% share of Europe myopia treatment market in 2022. It was assessed at US$ 583.10 million in 2022 and is likely to hit US$ 1,255.35 million by 2030, registering a CAGR of 10.1% during 2022-2030.

Key players operating in the Europe myopia treatment market are Alcon AG, Bausch Health Companies Inc, Carl Zeiss AG, CooperVision Inc, Eyes Vision SL, Haag-Streit AG, Johnson & Johnson Vision Care Inc, Nidek Co Ltd, and Ziemer Ophthalmic Systems AG, among others.

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