Hyperopia Market Expected to Climb Moderately at a 1.0% CAGR During the Study Period [2018-2030], Analyses DelveInsight

LAS VEGAS, Aug. 2, 2021 /PRNewswire/ -- DelveInsight's "Hyperopia (Farsightedness) Market" report provides a thorough comprehension of the Hyperopia historical and forecasted epidemiology and the Hyperopia market trends in the 7MM [the United States, EU5 (Germany, Spain, Italy, France, and United Kingdom) and Japan]. The Hyperopia market report also proffers an analysis of the current Hyperopia treatment algorithm/practice, market drivers, market barriers, and unmet medical needs. 

Some of the necessary takeaways from the Hyperopia Market Research Report  

• The current Hyperopia therapeutic landscape in the 7MM is driven by eyeglasses, prescription lenses, and surgeries. The competitive pharmaceutical landscape for Hyperopia is not too crowded. A very few companies have inclined their attention towards this area. 
• Companies such as Nevakar, and others, are trying to develop novel products to improve the Hyperopia treatment outlook. A subsidiary of Nevakar known as Vyluma is working on NVK033, a new topical eye drop for hyperopia.
• The United States Food and Drug Administration (US FDA) approved NIDEK's EC-5000 Excimer Laser for use in LASIK to treat hyperopia and hyperopic astigmatism in 2006.
• In 2018, the US FDA cleared Acuvue Oasys Contact Lenses, the first contact lens that immediately darkens the lens when subjected to bright light.
• The Hyperopia market might expand due to rising Hyperopia prevalence, and the patients suffering from this disease currently do not have any pharmacological options, which opens up an additional window of opportunities for new drugs. However, the market growth might be hampered because of delayed or undiagnosed Hyperopia. Also, currently, there is no precedence of approval in Hyperopia. In the past, few companies have tried to evaluate the potential of their product in this space but were unsuccessful.
• Eyeglasses and lenses presently dominate the Hyperopia market; but, with the introduction of topical eye drops or other pharmacological alternatives in the future, the treatment and market outlook for hyperopia may change. The development of NVK033, which might be the first-ever treatment option for Hyperopia, is a significant step forward for the ophthalmic community. The development of a portfolio of products that address conditions with the enormous unmet need throughout the world can improve existing management of conditions and make a difference in patients' quality of life.

For further information on Market Impact by Therapies, visit: Hyperopia Drugs Market Analysis 

Hyperopia, also known as farsightedness, is a refractive defect in which distant objects are usually seen more clearly, but closer objects appear to be blurred. When the eyeball is shorter than normal or has a cornea too flat, hyperopia occurs. As a consequence, light rays focus behind the retina, and vision blurs.

DelveInsight estimates that the total Hyperopia prevalent cases were 87,668,351 cases in the 7MM in 2020. The United States accounted for nearly 18% of the total 7MM cases in the same year.

The Hyperopia Market Analysis Report provides historical as well as forecasted epidemiological analysis segmented into: 

• Total Hyperopia Prevalent Cases 
• Total Diagnosed Cases of Hyperopia 
• Gender-specific Diagnosed Cases of Hyperopia
• Age-Specific Diagnosed Cases of Hyperopia
• Severity-Specific Diagnosed Cases of Hyperopia
• Treated cases of Hyperopia 

Get a complete epidemiological segmentation breakdown @ Hyperopia Epidemiological Analysis 

Hyperopia Treatment Market 

In the Hyperopia treatment scenario, eyeglasses or contact lenses are the most widely used options for correcting the disease. In other cases, people may go for refractive surgery. The most commonly used surgeries are laser-assisted in situ keratomileuses (LASIK), laser-assisted subepithelial keratectomy (LASEK), photorefractive keratectomy (PRK), conductive Keratoplasty (CK), phakic Intraocular Lens (IoLs), and refractive lens exchange (RLE).

RLE and LASIK are safe and efficacious for Hyperopia when performed on the right patient population. Since each procedure has potential benefits and drawbacks, explicit informed consent is required regardless of the procedure chosen. 

Nevakar recently transferred its ophthalmic portfolio to Vyluma, a new subsidiary. Vyluma is potentially developing the first treatment for hyperopia, known as NVK033. This product is in the early stages of development (Clinical Proof of Principle). A topical eye drop temporarily improves the ability to see up close while preserving distant vision and decreasing hyperopia symptoms. Looking at the progression of their phases, it is anticipated that NVK033 will be a potential treatment option for Hyperopic patients if and when approved. 

It is assessed that the Hyperopia pipeline is not robust. This is due to the lack of interest of pharmaceutical companies, lack of awareness about Hyperopia concerning other refractive errors, or lack of pathophysiology research. There is hardly any drug in the late stage of development, and the ones in the emerging pipeline are either lens or surgical options. It is an untapped market in terms of the unavailability of pharmaceutical products, which also means that the likelihood of success of a key business investing in this field would increase dramatically due to a less competitive environment. 

Analyst's view- 

According to the estimates, the United States had the largest Hyperopia market size, owing to the higher patient pool and higher treatment cost, followed by Japan and Germany. The Hyperopia market is currently dominated by eyeglasses, contact lenses, and refractive surgical procedures. The competitive pharmaceutical landscape of Hyperopia is not robust. Hardly any corporation has turned its attention towards Hyperopia to develop novel pharmaceutical options. In the past, few organizations have tried to assess the potential of their product in this field but have not achieved much success. Unlike Presbyopia and Myopia, there is a lack of pharmaceutical options for correcting Hyperopia because, in vision research and the clinical literature, Hyperopia has been overshadowed by Myopia. Nevertheless, the entry of Nevakar's early-stage asset could be a game-changer in the field of refractive errors if and when approved. The current unmet need for safe and efficient long-term treatment provides an excellent potential for advancing new therapies.

Scope of the Hyperopia Market Insight Report  

• Geography Covered: The United States, EU5 (Germany, France, Italy, Spain, and the United Kingdom), and Japan. 
• Study Period: 3-year historical and 10-year forecasted analysis (2018-2030).
• Hyperopia Markets Segmentation: By Geographies and By Hyperopia Therapies (Historical and Forecasted, Current and Upcoming) 
• Dominant Market Companies are investigating its candidates for Hyperopia: Nevakar, and several others. 
• Analysis: Comparative and conjoint analysis of emerging therapies. 
• Case Studies
• KOL's Views
• Analyst's View

Request for a Webex demo of the report @ Hyperopia Therapeutics Market

Table of Contents 

Browse full report with detailed TOC with charts, figures, tables @ Hyperopia Diagnostics Market Report

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SOURCE DelveInsight Business Research, LLP