Orthokeratology Lens Market Size, Share & Growth Report 2030

Report Description

Orthokeratology Lens Market Outlook

The South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens Market size was valued at USD 1,035.4 Million in 2020 and is projected to reach USD 2,698.4 Million by 2028, expanding at a CAGR of 12.9% during the forecast period 2021-2028. Orthokeratology, also known as Ortho-K, is a lens-compatible procedure that uses specially designed RGP (Rigid Gas Permeable) contact lenses to temporarily restore the eye's ability to focus on things.

Orthokeratology (Ortho-k) is a non-surgical treatment for myopia. Orthokeratology lenses, which were first worn in the 1940s after doctors discovered that glass contact lenses reshaped the cornea, are often cited as a more recent innovation. Development took several decades before it finally began in the 1990s. From advances in gas permeable lenses to computational corneal topography software, there have been many advancements, the technology has advanced significantly over the years.

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Orthokeratology Lens Market Dynamics

The growing prevalence of refractive errors around the world. With the increasing number of people suffering from refractive error conditions such as myopia, hyperopia, astigmatism, and presbyopia, the need for new treatment methods is also increasing. Myopia is the most common disease that affects many people around the world. According to the WHO, at least 2.2 billion people around the world have near or far visual impairment. The main causes of visual impairment and blindness are uncorrected refractive errors and cataracts. The Orthokeratology Lenses market growth is expected to increase over the forecast period.

Rising geriatric population across the globe. An increase in the geriatric population due to it being more prone to eye problems. The number of older people is expected to more than double again by 2050 and is expected to reach almost 2.1 billion. Worldwide, the number of people aged 80 and over is expected to triple between 2017 and 2050, from 137 million to 425 million. The growth and aging of the population are expected to increase the incidence of more people with visual impairment and drive the growth of the orthokeratology lens market.

With the increasing use of smartphones, laptops, and tablets by children and adults, the risk of eye damage is expected to drive the growth of contact lenses in children and adults to improve eyesight. The FDA has currently approved two brands of orthokeratological lenses. These are Corneal Refractive Therapy (CRT) lenses from Paragon Vision Sciences and Vision Shaping Treatment (VST) lenses from Bausch & Lomb.

The increasing demand for non-invasive medical imaging methods. Corneal topography is a non-invasive imaging method that maps the surface of the transparent front window of the eye (the cornea). Corneal topography is used to treat scar trauma (injury) or infection that causes corneal scarring. If the scan shows severe distortion, a special hard gas permeable (RGP) contact lens are sometimes helps correct vision. These factors are expected to drive the growth of the orthokeratology lens market.

However, the relatively high cost of orthokeratology lenses compared to conventional lenses is expected to limit the market growth. Compared with conventional technologies, the equipment is associated with high costs (glasses). The cost also varies by country, whether in an urban or rural setting, and the type of practice in which the procedure was performed. Fitting orthokeratology lenses is a time-consuming process and requires more experience than fitting normal contact lenses. Market growth has been hampered by strict regulatory agencies such as the FDA and a lack of professionals and expertise in fitting Ortho-K lenses.

Continuous technological advancements embedded in orthokeratology lens applications are rapidly increasing in developing countries such as China, Japan, Singapore, Malaysia, and others, creating a lucrative opportunity for the orthokeratology lens market in the future. Various low-cost treatments such as orthokeratology versus laser-assisted keratomileus in situ treatment (LASIK) are expected to drive market growth over the forecast period. Constant technological developments rooted in orthokeratology lens applications are increasing rapidly in the Asia-Pacific region.

Orthokeratology Lens Market Segment Insights

Product types Segment

Based on Product type, the South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens market are segmented into Overnight ortho-k and Daytime Ortho-K.

The Overnight ortho-k segment is anticipated to hold a substantial share of the market and is expected to grow at a substantial CAGR during the forecast period. The rising prevalence of Myopia is most common in East Asia, with China, Japan, the Republic of Korea, and Singapore, growing geriatric population, technological advancement.

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Material Segment

Based on material type, the South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens market are segmented into Silicone Acrylate, Fluorosilicone Acrylate, Fluorocarbon Acrylate, Oprifocon A, and Others.

The Fluorosilicone Acrylate segment is anticipated to hold a significant share of the market and is expected to grow at a substantial CAGR during the forecast period. Owing to oxygen permeability, lens stability, and surface wetting properties, it has greater lens flexure and a DKs value ranging from 40 to 100+ (med-high), the fluorosilicone acrylate rigid gas permeable (RGP) contact lens was improved using argon plasma, and it is used in an ortho-k lens for slowing myopia.

Application Segment Analysis

Based on applications, the South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens market is segmented into Myopia, Hypermetropia, Astigmatism, and Presbyopia.

The Myopia segment is expected to hold a significant share of the market due to of Orthokeratology is most often used to temporarily correct myopia (myopia). The growing burden of short-sightedness among the regional population, as well as the rapid increase in childhood myopia, are likely to aid the Orthokeratology Market's growth.

The Astigmatism segment is projected to grow, owing to growing eye surgery in SEA and Asia Pacific region, Astigmatism is more common in children from Spain and China. Astigmatism increases the likelihood of visual impairment in children.

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End User Segment

Based on end-user, the South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens market are segmented into hospitals, Ophthalmology Clinics, Vision Care Centers, and others.

The Ophthalmology Clinics segment is expected to hold a significant share of the market due to their customized treatment and specialized for Eye treatment. Owing to the surging number of private ophthalmology clinics driven by the growing demand for ortho-k lens and the absence of orthokeratology procedures and imaging systems in mid-scale and small hospitals is predictable to expand at a considerable CAGR during the forecast period.

The Vision Care Centers segment is projected to grow, owing to Shrink film is commonly used to bundle, collate, or overwrap products for unitization, display aesthetics, and/or tamper resistance, are anticipated to record substantial growth opportunities in the near future.

Regional Analysis

Based on regions, the South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens market are fragmented into SEA, and Asia Pacific (Excluding SEA). Asia Pacific accounted for a significant share of the market in 2020 and is anticipated to expand at a high CAGR in the forecast period of 2021 to 2028. Due to changes in the industry, such as the growing middle-class population, the ortho-k lens market in emerging economies such as China, Japan, South Korea, and India are expected to grow at a rapid pace during the forecast period. Myopia is one of the most common ocular disorders, and its prevalence has been steadily growing throughout the world, particularly in Asia Pacific.

The market in (SEA) South East Asia is predicted to hold a sizeable share of the market during the forecast period and expand at a considerable CAGR during the forecast period, owing to the growing adoption of the ortho-k lens in healthcare application, and local players providing high-quality solutions at reasonable prices and developing healthcare infrastructure. The most significant countries in the SEA are Singapore, Malaysia, and the Philippines, etc.

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Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Orthokeratology Lens Market.
• Historical, Current, and Projected Market Size in terms of Value.
• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
• Industry Drivers, Restraints, and Opportunities Covered in the Study
• Recent Industry Trends and Developments
• Competitive Landscape & Strategies of Key Players
• Neutral Perspective on South East Asia (SEA) and Asia Pacific (Excluding SEA) Orthokeratology Lens Market Performance