The global Myopia Control Lenses market is estimated to be valued at US$ 1.26 billion in 2022 and is expected to exhibit a CAGR of 17% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Myopia control lenses are spectacle lenses that are designed and developed specifically to control the progression of myopia in children. These lenses work by controlling the amount of light entering the eyes using multifocal or progressive addition lenses to alter the eye's focusing accuracy. The key advantage of these lenses is that they can help slow down the rate at which myopia progresses in children.

Market key trends:

One of the key trends in the myopia control lenses market is the increasing popularity of laser vision correction. Laser vision correction procedures such as LASIK and PRK have emerged as an effective solution for the treatment of moderate to high myopia in adults. These procedures use excimer lasers to reshape the cornea and correct vision without dependance on glasses or contact lenses. The permanent correction offered by these procedures along with advantages such as improved vision quality and independence from spectacles is fueling their demand. Furthermore, technological advancements enabling treatment of higher degrees of myopia is positively impacting the market growth.

Segment Analysis
The myopia control lenses market is segmented based on product type, material, distribution channel, and region. By product type, the multifocal lenses segment dominates the market owing to its effectiveness in controlling myopia progression. Multifocal lenses have multiple focal points that can shift the eye’s focus from distant to near objects naturally by manipulating light distribution.

Key Takeaways
The global Myopia Control Lenses Market Size is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing prevalence of myopia among both children and adults worldwide.

Regional Analysis
The Asia Pacific region is expected to be the fastest growing as well as dominating regional market for myopia control lenses. This is attributed to rising cases of myopia among school-going children in China, India and other developing countries in the region. North America and Europe are also projected to hold significant shares in the global market.

Key Players
Key players operating in the Myopia Control Lenses market are Essilor International, Johnson & Johnson Vision, CooperVision, Hoya Corporation, Zeiss Group, Bausch + Lomb, Menicon Co., Ltd., SEED Co., Ltd., Alcon (Novartis), Visioneering Technologies Inc., Paragon Vision Sciences, Euclid Systems Corporation, Art Optical Contact Lens Inc., SynergEyes Inc., and Nevakar Inc.

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