Myopia Management System Market 2022
The global Myopia Management System Market is there to grow at a noteworthy In Upcoming Years. These days, pre-empt process breakdowns by making use of AI are the ongoing trend. Regulatory compliance is also being adhered to using data masking. Personalized smart videos are being used to render proper member communication. These, and many such digitally transformative approaches are being followed in the enterprise as of now and the scenario is expected to remain the same even going forward.
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Myopia is referred to as nearsightedness which is a vision condition where nearby objects can be viewed clearly but not the farther ones. This condition occurs when the shape and structure refracts the light rays incorrectly. The images are focused in front of the retina and not on the retina which is normal. Myopia ranges from high to low and occurs in both children and adults. This condition is inherited in some cases. Major symptoms include defective vision.
Myopia management system includes wearing spectacles designed for specially myopia and contact lenses. The global prevalence of visual impairment disorder is expected to increase dramatically from 2000 to 2050. Currently, it is estimated that 537 million people suffer from high myopia. Increasing in number of eye disorders is attributed to unhealthy lifestyle habits like increased exposure to gadgets.
Myopia Management System Market drivers and restraints:
It is estimated that the prevalence of myopia is growing at unprecedented levels in the United States and even globally. Increasing prevalence of myopia among children and adult is a major driver for the Myopia management system market growth. Apart from the prevalence, various recent clinical studies and research are going on for changing the management of myopia. Research on myopia management will be a boon for many eye care practitioners and the eye care industry.
According to the World Health Organization, children with myopia will increase from 1.4 billion to 4.7 billion from 2000 to 2050. WHO also estimates prevalence of high myopia will grow from 163 million to 938 million. This estimation weighs approximately 10 percent of the world’s population. All these factors are expected to upswing the myopia management system market.
Studies also show that number of causative behind myopia are decreased outdoor play time among children and increased screen time on devices is a major cause of concern. However, avoidance to go to clinics and doctors for vision problems in lower economic regions can be a major setback to the myopia management system Market growth.
Another restraint is economic costs of vision disorder management are significant which is around $10 billion annually in the United States. Additionally, medical care, devices and vision aids and caregivers are not cost effective. These factors can hamper the myopia management system market growth.
COVID 19 pandemic impacted many industries including healthcare and medical devices. However, the impact on Myopia management systems can said to be low to moderate. New purchases might have suffered loss due to hampered supply chain and distribution. But this effect was temporary and got recovered post lockdown.
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Myopia Management System Market Segmentation:
Based on product type
Spectacles
Contact Lenses
Based on lens type
High index lens
Low index lens
Aspheric lens
Based on distribution channels
Specialty pharmacies
Eye hospitals and clinics
Retail stores
Ophthalmic stores
E-commerce
The myopia management system market will actively grow in the coming years owing to disorder management systems and ongoing research activities. Based on correction segment, spectacles are expected to hold major market share due to ease in usage compared to contact lenses. In end user, eye clinics and hospitals will lead the myopia management system market. Huge investments have been made in the R&D sector in the US and Europe particularly.
There is a significant increase in myopia observed in the U.S. as estimated by National Eye Institute at the National Institutes of Health (NIH). In the U.S, people aged over 12 years, have shown increase in myopia from 21 percent in 1971 to 42 percent in 2017 as estimated by NIH. North America is expected to lead the myopia management system Market treatment as maximum prevalence of this disease is reported to be in the United States.
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The R&D funding from the government and regulations is a major attraction for key players in the myopia management system Market. South Asia and East Asia are expected to grow in terms of market value in the coming years owning to increase in prevalence of the disorder.
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