Advances in eye health are poised to transform millions of lives and unlock new growth opportunities for investors in the coming decades. As the global population ages and vision loss rises sharply, innovation in detection, treatment, and prevention will be critical.
While ageing is one of the key factors affecting vision quality, others include lifestyle, genetics, medical conditions, and environmental factors. Most people tend to associate visual conditions with myopia (i.e. near-sightedness), presbyopia (i.e. age-related long-sightedness), and eye strain. However, there is a wide range of other eye conditions and diseases – such as cataracts and dry-eye syndrome – that can significantly impact an individual’s daily life.
The prevalence of these conditions is projected to rise sharply in the coming decades, making vision loss an increasingly urgent public health challenge.
Global outlook on vision loss and eye health
In terms of the global geographical distribution of vision impairment, low- and middle-income countries are home to the vast majority of the people with the health condition. For instance, some studies have revealed that as high as 90% of visually challenged individuals live outside high-income economies. In 2020, East Asia, Southeast Asia, and South Asia together represented almost 65% of global cases. Sub-Saharan Africa, the Middle East and North Africa, and South America are expected to see the fastest growth in the coming decades.
India and China together accounted for nearly 50% of the world’s total burden of blindness and vision impairment in 2020. However, the number of inhabitants in both countries represents only 37% of the global population. Given the scale of the challenge, India and China have introduced measures to reduce avoidable visual impairment and blindness. Beyond the human impact, vision loss also carries a substantial economic cost, both globally and locally, making it not only a public health issue but also an economic one.
The economic cost of poor eye health
According to the Lancet Global Health Commission on Global Eye Health, the global cost of visual impairment was estimated at around USD 3 trillion in 2010, rising to USD 3.6 trillion by 2020 — more than the combined GDP of South Korea and Spain.
The economic impact extends beyond direct medical expenses to include indirect costs from absenteeism and productivity losses. Health coverage for eye care varies widely, with routine check-ups and corrective lenses often excluded from basic insurance in many countries. This reflects differences in population needs, resources, political and social context, and the maturity of national health systems. Addressing these disparities will require not only policy changes but also innovations that make diagnosis and treatment more effective, affordable, and accessible.
Latest advances in eye health technology
Scientific and technological advancements have opened a broad range of clinical and research opportunities in the field of ophthalmology. They have also revolutionised how eye conditions are detected, diagnosed, and treated, leading to improved patient outcomes.
Driven by relentless research output, which has been increasing over the past few decades, the global eye-care industry continues to evolve, bringing forth potentially revolutionary treatments that could enhance vision, improve accuracy, and reduce recovery times.
As research progresses, gene therapy holds the promise of curing more eye diseases, giving hope to millions worldwide. These breakthroughs are not only improving patient outcomes but also creating new markets for medical devices, diagnostics, pharmaceuticals, and consumer health products, positioning the eye-care sector as a compelling long-term growth story.
What this means for investors
The eye-care sector offers exposure to a highly specialised market focused on improving human health. It spans small pure-play firms, private companies, academic research institutions, major corporations, hospitals, and clinics.
Opportunities in our ‘Extended Longevity’ theme range from eyewear retail and advanced eye technologies – such as implantable lenses, diagnostic tools, and surgical equipment – to large biopharma companies with diversified pipelines that include, but are not limited to, ophthalmic medicines and therapies.
With demographic shifts and technological breakthroughs converging, the next decade could mark a turning point in how the world prevents, diagnoses, and treats vision loss, and how investors participate in that transformation.