Vision Correction Market

The growing vision crisis needs a solution for greater – Myopia correction (physician limited), Hyperopia (no treatment options available), Astigmatism (limited product options), & Presbyopia (no treatment procedures).

  • Clearly defined unmet clinical need
  • Existing solutions have major clinical deficiencies
  • Epidemic in young people in developed countries caused by extensive screen use
  • For surgeons, existing surgical procedures are not easy procedures to perform
  • For patients, all current surgical options permanently affect or remove ocular tissue – inability to return to pre-surgery!

The global vision correction market size is $20B (eyeglasses, contact lenses, LASIK, and refractive implants with surgical device sales revenue in excess of $2B.  Worldwide there are over 1 billion affected patients.

The effects are evident in Europe with a growing prevalence of myopic patients.

In comparison, the same prevalent trend is seen in the US with a higher incidence in China.

Rapidly Expanding Myopia Market of 3+ Diopters in 10- to 18-year -olds from 1980 to 2019

75% of 10- to 18-year-olds in China require high refractive error (>3 diopter) vision correction. This growing trend is consistent in Europe and the United States.   Smartphone and tablet usage is taking a toll on the vision of the younger generation.

The Unmet Need in Vision Correction

In general, global myopic patient population is growing >30% annually.

In China, the myopic patient population is growing 75% annually with over 65 million current myopic patients with

4+ million patients annually who seek surgical refractive procedures not being treated due to clinical, product, or physician issues.