According to the report by Expert Market Research (EMR), the South Korea myopia and presbyopia treatment market size is projected to grow at a CAGR of 7.0% between 2023 and 2028. Aided by the increase in the ageing population and ailments like diabetes, along with increased screen time, the market is expected to grow significantly by 2028.
Myopia, or nearsightedness, and presbyopia, a natural, age-related loss of near vision, are two common refractive disorders of the eye, treated with various methods, such as eyeglasses, contact lenses, and refractive surgeries. While myopia is often seen in children and young adults due to extended screen time, presbyopia is prevalent among individuals over 40 years due to the natural ageing process. Both conditions play a significant role in the health and quality of life of the affected individuals, driving the demand for effective treatments.
The South Korea myopia and presbyopia treatment market growth is mainly driven by the increasing screen time among both children and adults, due to digitisation and lifestyle changes. This has led to a rise in vision disorders, especially myopia. In addition, South Korea’s ageing population contributes to the prevalence of presbyopia, creating a substantial need for effective treatment options.
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The trend towards a more active lifestyle in older age also increases the demand for presbyopia treatment options that allow patients to enjoy activities without the need for reading glasses or bifocals, thus increasing the South Korea myopia and presbyopia treatment market demand. This, coupled with the increasing disposable income and willingness to spend on healthcare in South Korea, leads to growth in demand for more advanced and effective treatments like refractive surgeries.
Furthermore, technological advancements in the ophthalmic industry contribute significantly to South Korea myopia and presbyopia treatment market expansion. The ongoing development of improved surgical procedures, better vision correction devices, and innovative drug therapies enhance treatment outcomes, providing further momentum to the market.
In the South Korean pharmaceutical industry, research and development efforts are also growing to discover new drug therapies for these conditions. Pharmaceutical companies are focusing on developing innovative eye drops and medications that can halt or reverse the progression of myopia and provide relief from presbyopia symptoms, thereby propelling the South Korea myopia and presbyopia treatment market demand.
South Korea Myopia and Presbyopia Treatment Market Segmentation
The market can be divided based on disease type and treatment type.
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Market Breakup by Disease Type
• Myopia
• Presbyopia
Market Breakup by Treatment Type
• Prescription Lenses
• Contact Lenses
• Intraocular Lenses
• Refractive Surgery
• Drugs
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the South Korea myopia and presbyopia treatment companies. Some of the major key players explored in the report by Expert Market Research are as follows:
• Johnson & Johnson Vision
• T Korea Solution Co., Ltd.
• Alcon Inc.
• AbbVie
• HOYA Corporation
• Others
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