As per this report, titled “Global Presbyopia Correction Devices Sales Market Report 2018,” the market was valued at a US$ 17.8 Mn in 2017. It has already shown rapid growth in the past several years.
The report provides useful information on cost structures and manufacturing processes as well as development policies so that readers can become well-informed about the global presbyopia correction devices market. It also focuses on the industrial chain structure, applications, and key products sold in the market. The market segmentation by patient age helps vendors to understand which age group is creating the maximum demand for presbyopia correction devices.
Global Presbyopia Correction Devices Market: Drivers
Presbyopia correction is one of the most significant last frontiers of refractive surgery. In recent times, there has been a large demand for spectacle independence from the general public. This is envisaged to push the growth of the global presbyopia correction devices market during the forecast period.
Usually affecting older people, presbyopia can hamper the quality of life if left untreated. In this regard, the demand for presbyopia correction devices is prophesied to increase at a telling rate. On the other hand, increasing number of research and development studies on presbyopia correction are foretold to fuel the growth of the market.
Launch of advanced multifocal contact lenses for presbyopia patients is prognosticated to augment the demand in the market.
Global Presbyopia Correction Devices Market: Forecast by Product and Patient Age
The global presbyopia correction devices market is classified into scleral implants and corneal inlays by product. Among the two, corneal inlays are foreseen to rank higher in the market in terms of share. In 2017, this segment accounted for an 82.0% share of the market.
By patient age, the market is divided into age above 65, age 50-65, and age 40-50. Among these, age 50-65 is predicted to gain a lion’s share of the market. It currently accounts for a 53.0% share.
Global Presbyopia Correction Devices Market: Forecast by Region
The report classifies the global presbyopia correction devices market into key geographies, viz. India, Southeast Asia, Japan, China, Europe, and the U.S.
The EU is the largest market for presbyopia correction devices in terms of consumption. In 2017, it accounted for a 46.0% share of the global market. The U.S. is the second-largest market vis-à-vis consumption. It secured a share of 32.0%.
Global Presbyopia Correction Devices Market: Key Players
The global presbyopia correction devices market shows an intense level of competition. The report profiles prominent market leaders such as Presbia, Refocus, Revision Optics, and AcuFocus. These companies enjoy a strong base of high-end customers and hold key patents in the industry. According to the report, Raindrop Near Vision Inlay’s Revision Optics is out of business since February 2018.
The authors of the report have comprehensively profiled the above manufacturers while concentrating more on their market share, revenue, production, and other factors.