Orthokeratology Lens Market Forecasts to 2028 – Global Analysis By Indication (Hypermetropia, Myopia, Presbyopia, Astigmatism), Product Type (Overnight Ortho-K Lenses, Day-time Ortho-K Lenses), Material (Fluorosilicone Acrylate, Silicone Acrylate, Fluoroc

Orthokeratology Lens Market Forecasts to 2028 – Global Analysis By Indication (Hypermetropia, Myopia, Presbyopia, Astigmatism), Product Type (Overnight Ortho-K Lenses, Day-time Ortho-K Lenses), Material (Fluorosilicone Acrylate, Silicone Acrylate, Fluorocarbon Acrylate, Balafilcon, Oprifocon A), End User (Ophthalmology Clinics, Eye Care Shops, Hospitals, Optometry Clinics) and Geography

According to Stratistics MRC, the Global Orthokeratology Lens Market is accounted for $663.56 billion in 2022 and is expected to reach $1082.58 billion by 2028 growing at a CAGR of 8.5% during the forecast period. Orthokeratology lenses are used to treat refractive errors of the eye, such as myopia, hypermetropia, astigmatism, and presbyopia.

According to World Health Organization report specifies that about 600 million people in China, nearly half the population, have myopia. According to The American Optometric Association, in astigmatism, people prefer corrective eyeglasses to improve their vision rather than surgery. Moreover, each year, 1 in every 3 persons in the U.S. is suffering from astigmatism, which is expected to increase in the near future. According to a recent survey projected that myopia and high myopia is likely to affect 5 billion and 1 billion people, respectively, by the year 2050. This alarming data signifies the urgent need on controlling myopia.

Market Dynamics:

Driver:

Increasing technological advancements & rising myopia and astigmatism cases

The rise in technological and scientific advances, the massive increase in the launch of new therapeutic orthokeratology lenses, and the growing geriatric population are the major drivers driving market growth. As various new enhancements have been implemented and all of the major key players are expanding and improving their products, novel technological and scientific advancements in orthokeratology lenses will increase the market with the highest CAGR in the coming period. The emergence in various diseases and conditions such as myopia, presbyopia, and astigmatism is also sparking market growth. These lenses are commonly used to treat the above conditions without the use of lasers or surgery.

Restraint:

Availability of Various Alternatives

There are several alternatives on the market, such as multifocal contact lenses and atropine eye drops. MiSight lenses are the first FDA-approved contact lenses for attempting to prevent myopia progression in children. After already being worn during the day, the lenses are stripped away at night. Concentric rings in these lenses focus attention light such that it strikes this same retina in a different manner, trying to deceive the eye into not expanding too much.

Opportunity:

Increase in Cases of Myopia & High Myopia

Myopia and high myopia have become increasingly common on a global scale. Myopia is a major public health concern, and exaggerated myopia is the world's second leading cause of visual impairment. Myopia affects roughly half of the urban population and affects a large number of students. Furthermore, because myopia causes visual difficulties earlier than other causes of blindness such as cataracts, its repercussions on quality of life are evident earlier. The cost of eye diseases is approximated to be in the millions in various developed regions. Myopia prevention and control techniques are thus commonly demanded after on a global scale.

Threat:

High cost of orthokeratology lenses

The considerably large cost of orthokeratology lenses in comparison to conventional lenses, however, is expected to limit market growth. The equipment is expensive when compared to traditional technologies (glasses). The expense also varies by country, the weather procedure was performed in an urban or sparsely populated setting, and the type of practise in which it was performed. Fitting orthokeratology lenses takes more time and requires more expertise in the field than fitting regular contact lenses. Strict government regulators such as the FDA, as well as a lack of professional people and knowledge and experience in fitting Ortho-K lenses, have hampered market growth.

Covid-19 Impact

With both the increasing shutdown restrictions as well as social distancing norms caused by the COVID-19 outbreak around the world, demand for orthokeratology lenses has decreased across several regions of this market. Besides which, the distribution system of orthokeratology lenses was disrupted during COVID-19 due to strict lockdown and other global restrictions, negatively impacting market growth. The existence of social media platforms for eye testing to make diagnosis refractive errors, as well as the advancement of novel orthokeratology lenses and advanced technologies, are expected to drive market growth. As a result, the growth of the orthokeratology lens market has been significantly impacted by this pandemic.

The Myopia segment is expected to be the largest during the forecast period

The Myopia segment is estimated to have a lucrative growth. Myopia raises the risk of serious disorders such as myopic retinal degeneration, glaucoma, retinal detachment, and cataract, which are among the leading causes of visual impairment and blindness in many countries. Many regions have seen a significant increase in the incidence of myopia in recent years. Across Asian countries, large population rates have been reported. Over the years, a variety of therapeutic interventions have really been implemented with the purpose of suppressing myopia, with orthokeratology lenses proving to be one of the greatest effective with the fewest side effects. OrthoK lenses straighten the cornea up overnight although the patient sleeps, reducing refractive error. The capability to regulate myopia is expected to drive the global orthokeratology lens market forward.

The ophthalmic clinics segment is expected to have the highest CAGR during the forecast period

The ophthalmic clinics segment is anticipated to witness the fastest CAGR growth during the forecast period. Hospital investment opportunities in orthokeratology lenses are steadily rising due to the rising occurrence of eye-related disorders such as cataracts and glaucoma, which would be driving market growth. The increased implementation of orthokeratology lenses in hospitals as a result of advanced treatment facilities is expected to drive hospital segment growth. However, the use of orthokeratology lenses may differ slightly across hospitals around the world, stifling market growth. During the forecast period, the ophthalmic clinics segment experienced a significant CAGR.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to high incidence across its countries. The increased incidence of ocular disorders also including myopia and presbyopia is expected to increase healthcare professionals' use of orthokeratology lenses. Technological advancements, as well as an increase in the number of products able to receive CE approval, are expected to boost regional growth. Rising healthcare expenditures, combined with increased awareness of eye disorders, are expected to drive market growth. The widening geriatric population base, as well as the growing penetration of orthokeratology lenses is expected to drive the market. Furthermore, the growing number of ophthalmic clinics and hospitals in Asian countries is anticipated to increase demand for orthokeratology lenses well over forecast period.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period. Recent advancements in orthokeratology lenses, the introduction of overnight ortho-K-lenses, as well as flexibility and choice, are expected to drive market growth. The rising number of cases of visual impairment, combined with the increasing use of orthokeratology lenses, is expected to generate significant growth opportunities. Furthermore, the neighbourhood involvement of key market players in is expected to boost regional growth.

Key players in the market

Some of the key players profiled in the Orthokeratology Lens Market include Johnson & Johnson, Euclid Systems Corporation, Cooper Companies Inc., Texas, Brighten Optix.Co, Art Optical Contact Lens, Inc., Contamac, Procornea, Visioneering Technologies, Inc, Bausch & Lomb Incorporated and Capricornia Contact Lens.

Key Developments:

In Sep 2022, Johnson & Johnson vision care, announced that ACUVUE Abiliti overnight therapeutic lenses expanded range upto 6.00 diopters got approved by United States Food and Drug Administration.

In Jun 2022, Cooper Vision announced its acquisition of EnsEyes, orthokeratology lenses and scleral contact lenses supplier in Nordic region of Europe. EnsEyes will work within eyecare group, Cooper Vision

In Apr 2022, Euclid Vision acquired Visionary Optics, contact lens developer and commercialising company.

In Oct 2021, Cooper Vision eyecare announced its launch of innovation mobile calculator application- paragon CRT to help eyecare professionals. It includes features that focus on fitting process simplification for prescribers of the CRT and Dual Axis CRT lenses.

In January 2019, Contamac introduced Optimum infinite high-oxygen gas permeable contact lenses with a strong mix of processability and elastic strength.

Indications Covered:
• Hypermetropia
• Myopia
• Presbyopia
• Astigmatism
• Other Indications

Product Types Covered:
• Overnight Ortho-K Lenses
• Day-time Ortho-K Lenses
• Other Product Types

Materials Covered:
• Fluorosilicone Acrylate
• Silicone Acrylate
• Fluorocarbon Acrylate
• Balafilcon
• Oprifocon A
• Other Materials

End Users Covered:
• Ophthalmology Clinics
• Eye Care Shops
• Hospitals
• Optometry Clinics
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements