Market Overview:
The myopia control lenses market comprises of multifocal contact lenses, extended depth of focus lenses, and bifocal contact lenses that are used to slow the progression of myopia in children. These lenses are designed to control eye focusing to minimize the elongation of the eyeball and slow the progression of nearsightedness. The growing prevalence of myopia among children and young adults and the need to control its progression effectively are driving the demand for myopia control lenses.

Market Dynamics:
One of the major drivers expected to boost the myopia control lenses market growth over the forecast period is the rising prevalence of myopia. According to a report by the World Health Organization, nearly half the world's population is expected to be nearsighted by 2050 due to increased usage of digital devices. Additionally, growing awareness regarding risks associated with high myopia such as glaucoma and retinal detachment is also expected to fuel the market growth during the forecast period. However, high cost associated with myopia control lenses as compared to conventional lenses and compliance issues with continuous lens wear may hamper market growth.

Key Takeaways:

The global Myopia Control Lenses Market Size is expected to witness high growth, exhibiting a CAGR of 17% over the forecast period, due to increasing prevalence of myopia. The market size is projected to reach US$ 1.26 billion by 2023 from US$ 0.75 billion in 2018.

Read More: https://www.feedsfloor.com/industrial/myopia-control-lenses-market-estimated-witness-high-growth-owing-rising-prevalence-0