Orthokeratology lens market players and analysis by material, application, end user and region- forecast till 2030. The global orthokeratology lens market is estimated to grab the highest market share while increasing the market size at a growth rate of 7.8% during the forecast period, 2022-2030. According to the analysis provided by the Market Research Future, the global market is also set to attain the highest valuation of USD 3.97 Billion.
Night vision therapy, refractive corneal treatment, and ortho-k are other names for orthokeratology glasses. Refractive errors are treated non-surgically by altering the cornea's curvature to improve object vision. This surgery is used to temporarily correct myopia, hyperopia, and other eye conditions. Globally, the prevalence of refractive defects has grown over the past 20 years, which has sped up the growth of ophthalmology. It is expected that the low cost of laser eye surgery (LASIK) will spur market growth. However, market growth should be constrained by the availability of alternative treatments and the risk associated with orthokeratology lenses.
According to the report, an enhanced internet campaign is assisting in raising public knowledge of the myopia treatment using orthokeratology lens lenses, which is fueling demand for orthokeratology lens lenses.
Major Players
Some of the leading players driving the growth of the global orthokeratology lens market include Bausch Lomb Incorporated, Menicon Co., Ltd, CooperVision, CE GP Specialists, Procornea, Euclid Systems Corporation, Visioneering Technologies, Inc. (VTI), Brighten Optix, Alcon, Inc., and CONTAMAC. Key players focusing on the expansion plans to widen product penetration in diverse markets is one of the strategic factors expected to create opportunities in the global orthokeratology lens market. Increased mergers and acquisitions around the global, led by key market participants are expected to drive the progress of the global orthokeratology lens market.
Market Segmentation
The global orthokeratology lens market is segmented by material, application, and end-user.
The material is segmented into fluoro silicone acrylate, silicone acrylate, and fluorocarbon acrylate.
Based on the application, the global orthokeratology lens market has been segmented into myopia and hyperopia.
The end-user segment is broadly bifurcated into end-user-based hospitals and eye clinics.
Regional Insights
The Americas are expected to own most of the global orthokeratology lens market. Growth in North and South America can be attributed to the increased geriatric population and increased ophthalmic disorders, leading to a greater need for diagnosis and treatment.
The Asia Pacific region is expected to represent the second-largest market share during the forecast period. Factors fostering the market growth in this region are the increase in the number of visually impaired patients, the availability of advanced treatment facilities, rising healthcare costs, the introduction of new market therapies, and the presence of infrastructure of high-quality health. According to the Asian Development Bank, Asia's aging population is expected to reach almost 923 million people by 2050.
It is estimated that Europe is experiencing the fastest growth in the world market due to the increasing number of eye diseases and government initiatives each year.
Due to considerations such restricted access and problems with accessibility in health facilities, the orthokeratology lens market in the Middle East and Africa is predicted to develop at the slowest rate.
Industry Updates
The first contact lens indicated to slow the progression of myopia in children aged 8 to 12 years approved by the FDA, according to an FDA press release. The MiSight (CooperVision) contact lens is a soft disposable lens that is limited to single-use and should not be worn overnight, according to the company statement.
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