The global orthokeratology lens market is projected to expand at a robust CAGR during the forecast period, between 2021 and 2028. Orthokeratology or Orthro K refers to the treatment of near sightedness also known as myopia or any other eye related issue. The vision problem is usually corrected by eye glasses or lenses; However, orthokeratology allows the patients to correct vision problems without the use of conventional glasses. It’s a surgery-free method of correcting myopia that allows people to leave their glasses and not wear contact lenses all the time. This treatment involves wearing specially designed and fitted contact lenses to temporarily reshape the cornea to improve vision and treat vision issues without any surgery or laser treatment. It is an efficient way of slowing down myopia, especially among children.
Market Trends, Drivers, Restraints, and Opportunities:
- Increasing prevalence of eye issues such as myopia and presbyopia is estimated to fuel the market growth substantially.
- Rising usage of electronic devices such as laptops and televisions have resulted in people of every age group suffer from eye issues, either myopia or hypermetropia. This, in turn, has resulted in the increase in demand for orthokeratology lenses.
- High cost of orthokeratology treatment in comparison to conventional eye glasses and lenses can inhibit the growth of the market.
- Lower disposable income and the poor infrastructure for ophthalmic or healthcare clinics in low- and middle-income countries can restrain the market growth.
- Technological advancements in the medical field can serve as an opportunity for the market.
Scope of the report:
The report on the orthokeratology lens market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.
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Attributes
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Details
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Report Title
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Global Orthokeratology Lens Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast
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Base Year
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2020
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Historic Data
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2018 & 2019
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Forecast Period
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2021–2028
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Segmentation
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Materials (Fluorocarbon Acrylate, Fluoro Silicone Acrylate, and Silicon Acrylate), Applications (Myopia, Presbyopia, Hyperopia, and Astigmatism), End-users (Hospitals, Ophthalmology Clinics, and Others)
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Regional Scope
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Asia Pacific, North America, Europe, Latin America, and Middle East & Africa
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Report Coverage
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Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast
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Orthokeratology Lens Market Segment Insights:
Fluoro silicone acrylate is projected to hold a significant market share
Based on materials, the orthokeratology lens market can be segmented into fluorocarbon acrylate, fluoro silicone acrylate, and silicon acrylate. The fluoro silicone acrylate segment is projected to hold significant market share during the forecast period. Silicone is extremely flexible that makes it a preferred choice for contact lenses. Moreover, fluoro acrylate has a high refractive index has pushed the manufacturers to make fluoro silicone acrylate lenses due to the combined benefit.
Myopia segment held a substantial market share in 2020
On the basis of applications, the orthokeratology market can be divided into myopia, presbyopia, hyperopia, and astigmatism. The myopia segment constituted for a considerable market share in 2020, and is anticipated to grow at a robust growth in the recent years due to the rising prevalence of short sightedness issues among people of all age groups. Other eye issues such as astigmatism and presbyopia are more common with middle aged or older people; however, myopia affects people in all age groups. Thus, the demand for orthokeratology lenses is comparatively more for the treatment of myopia.
Ophthalmic clinics segment to grow at a rapid pace during the forecast period
Based on end-users, the orthokeratology lens market can be segregated into ophthalmic clinics, hospitals, and others. The ophthalmic clinics segment is anticipated to expand at a significant growth rate during the forecast period. Rising preference for clinics for orthokeratology treatments is driving the segment growth. Rising presence of optical clinics is spurring the segment growth. The opticians aid the patients to fit their lenses and to correct their optical issues without any surgery.
North America to dominate the market
In terms of regions, the global orthokeratology lens market can be fragmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. North America is estimated to dominate the market due to the increasing number of geriatric patients in the region and increasing preference for correcting optical issues without the use of surgery or conventional glasses. The market in Asia Pacific is anticipated to exhibit a high CAGR during the forecast period due to increasing population, the availability of healthcare facilities, and increased expenditures on healthcare, which drives the market growth in the region.
Segments
By Materials
- Fluorocarbon Acrylate
- Fluoro Silicone Acrylate
- Silicon Acrylate
By Applications
- Myopia
- Presbyopia
- Hyperopia
- Astigmatism
By End-users
- Hospitals
- Ophthalmology Clinics
- Others
By Regions
- North America
- Europe
- Latin America
- Asia Pacific
- Middle East & Africa
By Key Players
- Contamax
- Alcon Inc.
- Brighten Optix
- Visioneering Technologies; Inc.
- Euclid Systems Corporation
- Procornea
- Menicon Co Ltd.
- CE GP Specialists
- Cooper Vision
- Bausch & Lomb Incorporated
Competitive Landscape
The key players of the orthokeratology lens market include Contamax; Alcon Inc.; Brighten Optix; Visioneering Technologies; Inc.; Euclid Systems Corporation; Procornea; Menicon Co Ltd.; CE GP Specialists; Cooper Vision; and Bausch & Lomb Incorporated. These players engage in mergers & acquisitions, collaborations, agreements, and partnerships to increase their market share.
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