Orthokeratology Lens Market by Product (Daytime and Overnight Ortho- K Lens), by Material (Silicone, Fluorosilicone, and Fluorocarbon Acrylate), by Application (Myopia and Hyperopia, Presbyopia, and Astigmatism), and by End-user (Hospitals, Vision Care Centers, Ophthalmic Clinics, and Others) – Global Opportunity Analysis and Industry Forecast 2022-2030

Market Definition:

The global Orthokeratology Lens Market size was valued at USD 534.61 million in 2021 and is predicted to reach USD 973.19 million by 2030 with a CAGR of 6.88% from 2022-2030. Orthokeratology, also known as Ortho-K or Corneal Refractive Therapy (CRT) is a non-surgical treatment to correct refractive errors by modifying the curvature of the cornea using custom-designed rigid lens.

Most commonly, orthokeratology are used in myopia reduction, hence, the rising uptake of myopia management efforts is boosting the expansion of the orthokeratology specialty. Moreover, advances such as novel overnight ortho-K-lens, along with growing FDA approvals are few factors augmenting the growth. Currently, this market is a niche, yet represents high avenues in the overall contact lens market.

Market Dynamics and Trends

The demand for orthokeratology lens market is driven by growing awareness of advanced ortho-K lens, such as Vision Shaping Treatment and Corneal Refractive Therapy, and the increasing burden of patients with refractive errors. For instance, according to the report of Investigative Ophthalmology & Visual Science published in 2021, Myopia affected nearly 30% of the world population in 2020 and this number is expected to reach 50% by 2050.

Furthermore, prolonged usage of smartphones and laptops leads to eye damage in children and young people and they are more prone to eye problems such as myopia, asthenopia, astigmatism, and blurred vision. According to the American Optometric Association, people affected by astigmatism prefer corrective eyeglasses to improve their vision instead of surgery. In addition, each year, 1 in every 3 persons in the U.S. suffers from astigmatism, thereby creating a large patient pool.

However, high preferences toward alternative treatment options like medication & surgery and the high cost associated with ophthalmic equipment hamper the market progression. Conversely, increasing online campaigns related to myopia treatment in order to raise awareness among the population creates ample growth opportunities during the forecast period. For instance, in August 2021, CooperVision launched an awareness campaign to encourage parents to protect their children’s eye health. The campaign also supported eye care practitioners to develop a range of tools for myopia management and further guide parents in their children’s treatment.

Market Segmentations and Scope of the Study

The orthokeratology lens market share is analyzed on the basis of product, material, application, end-use, and geography. Based on product, the market is categorized into daytime and overnight Ortho-K lens. Based on the material, the industry is classified into silicone, fluorosilicone, and fluorocarbon acrylate. Based on application, the market is segmented into myopia and hyperopia, presbyopia, and astigmatism.

Based on end-users, it is divided into hospitals, vision care centers, ophthalmic clinics, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising of North America, Europe, Asia-Pacific, and ROW.

Geographical Analysis

North America holds the largest revenue share in the global orthokeratology lens market. Factors boosting revenue generation include continuous progression in orthokeratology with the launch of innovative products with higher flexibility, rising cases of visual impairment, and strategies undertaken by major players. For instance, in April 2021, Johnson & Johnson Vision collaborated with Menicon to combine its expertise with the scale, science & capabilities of J&J Vision to address the growing cases of myopia in children. Under the collaboration, Menicon would develop therapeutic contact lens while J&J Vision would focus on expanding the availability of new products.

On the contrary, Asia Pacific is expected to show exponential growth in this market during the forecast period due to the increase in the adoption of advanced products, such as SEED and ProCornea, along with the rise in the geriatric population in this region. Moreover, a rise in awareness related to eye disorders and the expansion of major players & launches by them in this region is anticipated to boost the market progression. For instance, in December 2020, a subsidiary of Menicon, Alpha Corporation, established ALPHA (WUXI) Co., Ltd., a local Chinese Subsidiary to expand the production volume and business of orthokeratology lens in China.

Competitive Landscape

The orthokeratology lens market is moderately fragmented with the presence of key players such as GP Specialists, Euclid Systems Corporation, CooperVision, Inc., Alpha Corporation (Menicon Group), TruForm Optics, Inc., Brighten Optix, Co., Menicon Co., Ltd., Johnson & Johnson (Johnson & Johnson Vision), and CONTAMAC. Key players are involved in adopting various initiatives such as product launches & business expansion to maintain their footprint in the market.

For instance, in May 2021, Euclid Systems launched an overnight orthokeratology lens Euclid MAX in the U.S.  These are designed to be used by children and adults with progressive myopia. These products gently reshape the cornea to manage myopia while the patient is asleep. Also, in May 2021, Johnson & Johnson Vision received the FDA approval for its ACUVUE Abiliti overnight orthokeratology contact lens to help manage myopia.

KEY BENEFITS

• The orthokeratology lens market report provides a quantitative analysis of the current market and the estimations of the same, throughout 2022-2030 that assists in identifying the prevailing market opportunities to capitalize on.

• The study comprises a deep dive analysis of the current and future orthokeratology lens market trends, depicting the prevalent investment pockets in the market.

• The information related to key drivers, restraints and opportunities and their impact on the orthokeratology lens industry is provided in the report.

• The competitive analysis of the market players along with their market share in the orthokeratology lens market.

• The SWOT analysis and Porters Five Forces model is elaborated in the study.

• Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.

ORTHOKERATOLOGY LENS MARKET KEY SEGMENTS

By Product

• Daytime Ortho-K Lens

• Overnight Ortho-K Lens

By Material

• Silicone Acrylate

• Fluorosilicone Acrylate 

• Fluorocarbon Acrylate

By Application

• Myopia

• Hyperopia

• Presbyopia

• Astigmatism 

By End-user

• Hospitals

• Vision Care Centers

• Ophthalmic Clinics

• Others

By Geography

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

  • Italy

  • Spain

  • Rest of Europe

• Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Australia

  • Rest of Asia-Pacific

• RoW

  • UAE

  • Saudi Arabia

  • South Africa

  • Brazil

  • Remaining Countries

REPORT SCOPE AND SEGMENTATION:

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