Presbyopia Market Application,Trends, Demand, Growth, Challenges and Competitive Outlook
In recent years, the presbyopia market is anticipated to proliferate during the forecast period. Presbyopia is when your eyes gradually lose their capacity to focus on adjacent things. Presbyopia typically appears in your early to mid-40s and worsens until you reach the age of 65. While vision correction therapies for common eye problems including myopia and hyperopia typically produce excellent results, presbyopia treatment currently on the market has a lot of room for improvement. Although there are treatments for presbyopia, the outcomes have not proven convincing. This offers more opportunities for the presbyopia market to grow.
Data Bridge Market Research analyses that the presbyopia market was valued at USD 9.441 billion in 2021 and is expected to reach USD 13.84 billion by 2029, registering a CAGR of 4.90% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
Presbyopia is an eye ailment in which your ability to focus quickly on close things gradually deteriorates. It’s a result of becoming older. The natural lens inside your eye thickens and loses flexibility over time. Presbyopia is caused by a problem with the eye’s lens, which is located below the iris (coloured area) and pupil. Light is bent (or refracted) by the eye’s lens to focus it straight onto the retina, which is the light-sensitive tissue at the back of the eye.
Drivers
- Increasing prevalence of chronic diseases
The rising prevalence of chronic diseases across the globe is estimated to enhance the market’s growth. Chronic diseases such as multiple sclerosis, diabetes, or cardiovascular diseases will increase the risk of premature presbyopia, propelling the growth rate of the presbyopia market. According to World Health Organization (WHO), cardiovascular diseases (CVDs) claimed the lives of 17.9 million individuals worldwide in 2019, accounting for 32% of all deaths.
- Increasing investment for healthcare infrastructure
Another significant factor influencing the growth rate of presbyopia market is the rising healthcare expenditure which helps in improving its infrastructure. Also, various government organizations aims to improve the healthcare infrastructure by increasing funding and this will further influence the market dynamics.
- Growing number of geriatric population
The surging geriatric population is estimated to enhance the market’s expansion during the forecast period of 2022–2029. According to the World Health Organization (WHO), the worldwide geriatric population, estimated to be over 524 million in 2010, is expected to increase to nearly 2 billion by 2050. Due to their compromised immune systems, geriatrics are more susceptible to presbyopia diseases, further estimated to enhance the ‘market’s growth rate.
Furthermore, rising initiatives by public and private organizations to spread awareness will expand the presbyopia market. Additionally, the sedentary lifestyle of people and rising disposable income will result in the expansion of presbyopia market. Surging consumption of various medications such as antidepressants, diuretics and antihistamines is the major factor anticipated to flourish the ‘market’s growth rate during the forecast period of 2022–2029.
Browse a Detailed Summary of the Research Report @ https://www.databridgemarketresearch.com/reports/global-presbyopia-market
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