Age Related Vision Dysfunction Market Snapshot (2022 to 2033)

The global age-related vision dysfunction market garnered a market value of USD 90 Billion in 2023 and is expected to accumulate a market value of USD 130 Billion by registering a CAGR of 3.7% in the forecast period 2022 to 2033.

The general public's desire to correct and enhance their eyesight as a consequence of increased eye disorders, an aging population, and a variety of other causes is likely to boost the market for age-related vision dysfunction products throughout the forecast period. The adoption of electronic gadgets has been rapidly increasing. People frequently utilize such gadgets for extended periods of time. As a result, more and more individuals are suffering from age-related vision dysfunction, including Asthenopia, and people have begun to use vision care products, particularly vision care eye drops and vision care capsules.

Moreover, poor nutrition and a lack of attention to health are two other issues that are projected to raise demand for the age-related vision dysfunction market. As a result of poor eating, an increasing number of people are experiencing partial or complete eyesight loss. The adoption of electronic gadgets has increased rapidly. Furthermore, vision care products are now more widely available than ever before. Because of such a robust logistics and supply chain network, vision care items such as eyeglasses, cooling glasses, and so on may be transferred quickly within a region or from one nation to another. This is also expected to boost the age-related vision dysfunction market throughout the projected period.

Data Points Key Statistics
Expected Market Value (2023) USD 90 Billion
Anticipated Forecast Value (2033) USD 130 Billion
Projected Growth Rate (2023 to 2033) 3.7% CAGR

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Age Related Vision Dysfunction Demand Analysis (2017 to 2022) Vs Market Outlook (2023 to 2033)

The global demand for age-related vision dysfunction is projected to increase at a CAGR of 3.7% during the forecast period between 2022 and 2033, reaching a total of USD 130 Billion in 2033, according to a report from Future Market Insights (FMI). From 2017 to 2022, sales witnessed significant growth, registering a CAGR of 2%.

The prevalence of rising eye disorders among individuals from all walks of life is predicted to fuel demand for age-related vision dysfunction, notwithstanding a major increase. The number of patients attending eye care hospitals has increased due to a rise in incidences of cataracts and glaucoma. According to WHO figures, more than 4.5 million individuals are blind as a result of glaucoma. This is concerning, and it has pushed glaucoma patients to adopt preventive measures.

Which are Some Prominent Drivers of Age Related Vision Dysfunction Market?

An Increase in the Proportion of Geriatrics to Encourage Market Expansion

As people age, their eye lenses get stiffer, making it difficult to focus on objects in close proximity. This disorder is known as presbyopia, and it is frequent in persons over the age of 70.

This is usually corrected by using bifocal or progressive lenses. During the projection period, this is likely to improve growth prospects of age-related vision dysfunction.

Advancements in Ophthalmic Diagnostic and Treatment Technologies to boost Adoption

The technical developments that are occurring in this sector are the primary drivers of the age-related vision dysfunction industry. The use of nanotechnology in vision care is predicted to revolutionize the market.

Nanotechnology is now being used to detect eye pressure, cure retinal disorders, and help patients recover from glaucoma faster. Furthermore, robots are used in conjunction with human intelligence to precisely place surgical equipment during eye surgery. Artificial retinas with electrodes are used to replace injured retinas. This might increase future demand for age-related vision dysfunction treatment.

Increasing Awareness-raising Campaigns concerned with Eye Dysfunction

Whether it is the government or large corporations, they are all taking measures to raise awareness about age-related vision dysfunction and its treatment. The World Health Organization (WHO) and the International Agency for the Prevention of Blindness (IAPB) partnered with the Indian government to create VISION 2020. They also put on World Sight Day and other activities.

The goal was to raise awareness about various eye disorders and the procedures to take to keep healthy eyes. This might boost the age-related vision dysfunction market throughout the predicted period. Artificial retinas with electrodes are used to replace injured retinas. This might increase future demand for age-related vision dysfunction treatments.

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Which are the Trough Areas faced by the Age Related Vision Dysfunction Market?

High Price of Medication to Hamper Market Growth

The high pricing of medications is going to put pressure on corporations and drug makers, particularly on therapies with a high price (i.e. gene therapies) that provide no additional major advantages.

Region-Wise Insights

How will Age-Related Vision Dysfunction Market Demand progress in the Asia Pacific?

Rapid Technological Development for Widening Profit Margins

During the projected period, the Chinese age-related vision dysfunction market is predicted to develop at a healthy CAGR of 3.6%. Some of the reasons driving the Chinese age-related vision dysfunction market are the raising geriatric population, rapid technological development, and a growing inclination for superior eye care goods.

According to a Lancet investigation, there were more than 45 million individuals in China with moderate visual impairment, 4.6 million with severe vision impairment, and about 8.7 million with blindness. Furthermore, according to studies, China is one of the world's largest markets for age-related vision dysfunction treatments. Because of technical improvements, China's top businesses are offering novel vision care goods at cheap prices.

On the other hand, according to FMI research, the India age-related vision dysfunction market is estimated to develop at a CAGR of 3% over the forecast period. People have begun to adopt sedentary lifestyles as cities have grown in size. As a result, individuals begin to acquire numerous health concerns, the most evident of which is eye damage in many cases.

Furthermore, the use of technological gadgets is increasing. This opens up a big possibility for the vision care sector in the future. As per Future Market Insights, the Asia Pacific is expected to grow at a CAGR of 3.5% in the assessment period 2023-2033.

How attractive are Growth Prospects for Age-Related Vision Dysfunction in North America?

Growing Senior Population to Accelerate Market Growth

According to FMI research, the North American age-related vision dysfunction market is predicted to develop at a CAGR of 3.6% during the forecast period. The market is likely to be driven by a growing senior population, favorable government policies, and an increase in the incidence of eye illnesses among individuals of all ages.

According to the Centers for Disease Control and Prevention, almost 12 million Americans over the age of 40 have vision impairment. This has been connected to an increase in diabetes incidence in the region. The government and several corporate entities are launching awareness campaigns to keep the issue under control.

Furthermore, the leading businesses are utilizing cutting-edge technology to provide the greatest products possible. Aside from that, the rapid expansion of the E-Commerce industry is predicted to fuel the market in the United States. The United States is predicted to be the top country in North America, with a market share of 33.8% in the area.

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Category-Wise Insights

Which Dysfunction Type is the Most Prevalent in the Age-Related Vision Dysfunction Market?

The Glaucoma Segment Trends to enhance Sales Prospects

The increasing incidence of glaucoma, rising attempts to raise awareness about glaucoma, and technical breakthroughs in the area of ophthalmology are the primary drivers driving the growth of the glaucoma treatment sector.

Glaucoma is the world's second-largest cause of blindness. This is usually caused by increased intraocular tension. The basic purpose of treatment is to reduce intraocular tension. This is accomplished by either decreasing aqueous fluid secretion or boosting its outflow. Although glaucoma medications alleviate symptoms, there is no cure for this ailment.

Start-Ups for Age Related Vision Dysfunction Market

Key start-up players in the age-related vision dysfunction are offering new and innovative product lines to consolidate their market presence, these aforementioned start-ups have left no stone unturned. Some specific instances of key age-related vision dysfunction start-ups are as follows:

Nanodropper, Inc. was established in 2018. It has created an eye drop bottle converter that reduces the capacity of large eyedrops by more than 60%. This is done with the goal of reducing waste and costs.

Visus Therapeutics is a company that was created in 2019. Their primary goal has always been to provide fixed formulation eye drops for presbyopia sufferers.

Market Competition

The main market participants are taking all feasible measures to execute the proper activities in order to lessen the rising number of age-related vision dysfunction sufferers globally. They are getting into strategic relationships with start-ups to solve some of the issues that patients confront when undergoing treatment for this purpose. The leading stakeholders are on a quest to create minimally invasive surgical treatments for this purpose. Key players in the age-related vision dysfunction market are:

  • Aerie Pharmaceuticals
  • Santen Pharmaceutical
  • Sun Pharma Advanced Research Company Limited
  • Bausch + Lomb
  • D Western Therapeutics Institute
  • Novartis
  • AbbVie
  • Eyenovia
  • Orasis Pharmaceuticals
  • IVERIC Bio

Recent Developments:

  • In May 2020, AbbVie Inc. finalized the strategic acquisition of Allergan plc. As a result of this purchase, AbbVie Inc. has positioned itself as a market leader in the age-related vision dysfunction business.
  • Santen Pharmaceutical Co. Ltd. launched DIQUAS® Ophthalmic Solution 3% (diquafosol sodium) in Japan in November 2022. The formulation contains a P2Y2 receptor agonist which stimulates tear production and improves eye tissue tear abnormalities.
  • Bausch + Lomb Corporation announced in December 2022 that it has received FDA clearance 510(k) for its Biotrue Hydration Boost Contact Lens Rehydrating Drops. These drops are preservative-free, multi-dose, and suitable for soft and rigid gas-permeable contact lenses

Report Scope

Report Attribute Details
Market Value in 2023 USD 90 Billion
Market Value in 2033 USD 130 Billion
Growth Rate CAGR of 3.7% from 2023 to 2033
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in US Billion and CAGR from 2023 to 2033
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered Dysfunction Type, Drug, Region
Regions Covered North America; Latin America; Europe; Asia Pacific; Middle East and Africa (MEA)
Key Countries Profiled

The USA, Canada, Brazil, Mexico, Germany, The UK, France, Spain, Italy, China, Japan, South Korea, India, Malaysia, Singapore, Thailand, Indonesia, Australia, New Zealand, GCC, South Africa, Israel

Key Companies Profiled Aerie Pharmaceuticals; Santen Pharmaceutical; Sun Pharma Advanced Research Company Limited; Bausch + Lomb; D Western Therapeutics Institute; Novartis; AbbVie; Eyenovia; Orasis Pharmaceuticals; IVERIC Bio
Customization Available Upon Request

Key Segments Profiled in the Age Related Vision Dysfunction Market Industry Survey

Age Related Vision Dysfunction Market by Dysfunction Type:

  • Cataract
  • AMD
  • Glaucoma
  • Presbyopia

Age-Related Vision Dysfunction Market by Drug:

  • Rocklatan
  • Eybelis Ophthalmic Solution
  • Xelpros
  • Rhopressa
  • Vyzulta
  • Glanatec
  • Simbrinza
  • Tapcom/DE-111
  • Azarga/Azorga
  • Combigan
  • Lucentis
  • Eylea
  • Beovu

Age-Related Vision Dysfunction Market by Region:

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa (MEA)

Frequently Asked Questions

What is the anticipated growth of the age related vision dysfunction market until 2033?

FMI projects the global age-related vision dysfunction market to expand at a 3.7% value CAGR by 2033

What is the estimated market value of Age Related Vision Dysfunction market expected in 2023?

The global Age Related Vision Dysfunction market is estimated at a market value of USD 90 Billion

What is the estimated market value of Age Related Vision Dysfunction market expected in 2033?

The global Age Related Vision Dysfunction market is expected to garner a market value of USD 130 Billion

Which region is forecast to be the most lucrative for Age Related Vision Dysfunction market growth?

As per Future Market Insights, Asia Pacific is expected to grow at a CAGR of 3.5% in the assessment period 2023 to 2033.

Which are some prominent automotive axle manufacturers?

Aerie Pharmaceuticals, Santen Pharmaceutical, Sun Pharma Advanced Research Company Limited, Bausch + Lomb, D Western Therapeutics Institute, Novartis, AbbVie, Eyenovia, Orasis Pharmaceuticals and IVERIC Bio are some prominent Age Related Vision Dysfunction manufacturers

What is the expected market share of North America in the Age Related Vision Dysfunction market?

As per Future Market Insights, North America is expected to grow at a CAGR of 3.6% in the assessment period 2023 to 2033.

What is the expected market share of Europe for Age Related Vision Dysfunction?

As per Future Market Insights, Europe is expected to grow at a CAGR of 3.3% in the assessment period 2023 to 2033.

Which dysfunction type is expected to hold the largest market share for Age Related Vision Dysfunction in the forecast period 2023 to 2033?

The glaucoma segment is expected to hold the largest market share for Age Related Vision Dysfunction in the forecast period 2023-2033

Table of Content
  • 1. Executive Summary
  • 2. Market Overview
  • 3. Market Background
  • 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
  • 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Dysfunction Type
    • 5.1. Cataract
    • 5.2. AMD
    • 5.3. Glaucoma
    • 5.4. Presbyopia
  • 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Drug
    • 6.1. Rocklatan
    • 6.2. Eybelis Ophthalmic Solution
    • 6.3. Xelpros
    • 6.4. Rhopressa
    • 6.5. Vyzulta
    • 6.6. Glanatec
    • 6.7. Simbrinza
    • 6.8. Tapcom/DE-111
    • 6.9. Azarga/Azorga
    • 6.10. Combigan
    • 6.11. Lucentis
    • 6.12. Eylea
  • 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
    • 7.1. North America
    • 7.2. Latin America
    • 7.3. Europe
    • 7.4. Asia Pacific
    • 7.5. Middle East & Africa (MEA)
  • 8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
  • 13. Key Countries Market Analysis
  • 14. Market Structure Analysis
  • 15. Competition Analysis
    • 15.1. Aerie Pharmaceuticals
    • 15.2. Santen Pharmaceutical
    • 15.3. Sun Pharma Advanced Research Company Limited
    • 15.4. Bausch + Lomb
    • 15.5. Novartis
    • 15.6. AbbVie
    • 15.7. Eyenovia
    • 15.8. Orasis Pharmaceuticals
    • 15.9. IVERIC Bio
  • 16. Assumptions & Acronyms Used
  • 17. Research Methodology
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