Orthokeratology Market Estimated to Reach US$ 97.8 Million by 2022

Orthokeratology Market

Market Overview:

The global Orthokeratology Market is estimated to be valued at US$ 37.6 Million In 2017 and is expected to reach US$ 97.8 million by 2022, exhibiting a CAGR of 7.0% during the forecast period from 2018 to 2026. Orthokeratology refers to the use of gas permeable contact lenses to temporarily reshape the cornea in order to improve vision. The advantages of orthokeratology include the non-invasive nature of the procedure, reversible effects, and reduced dependence on glasses or conventional contact lenses. With the increasing prevalence of vision defects and the desire for a non-surgical alternative, the demand for orthokeratology products is expected to witness significant growth in the coming years.

Market Key Trends:
One key trend in the Orthokeratology Market is the growing adoption of orthokeratology for myopia control. Myopia, or nearsightedness, is a common vision problem that causes objects in the distance to appear blurred. Orthokeratology lenses have been proven to effectively slow down the progression of myopia in children and adolescents. This trend is driven by the increasing awareness among parents and eye care professionals about the long-term risks associated with progressive myopia, such as high myopia and related eye conditions. As a result, the demand for orthokeratology lenses as a means of myopia control is expected to witness significant growth during the forecast period.

Please note that the given data for key players (Autek China, Alpha Corporation, Bausch and Lomb Inc., Euclid Systems, E & E Optics, Essilor International S.A., GP Specialists, Paragon Vision Sciences, Procornea, and Taiwan Macro Vision Corporation) should not be included in the
Segment Analysis:

The Orthokeratology market can be segmented based on product type, end-user, and region. By product type, it can be classified into spherical lenses, toric lenses, and multifocal lenses. By end-user, it can be categorized into hospitals, optical stores, and online channels.

Among the different product types, spherical lenses dominate the Orthokeratology market. This is due to their high effectiveness in correcting myopia and astigmatism. Spherical lenses offer a wider range of correction options and are more commonly prescribed by eye care professionals. Additionally, they are relatively more affordable compared to toric and multifocal lenses. As a result, the demand for spherical lenses outweighs the demand for other product types, leading to their dominance in the market.

Key Takeaways:

The global Orthokeratology market is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period. This growth can be attributed to multiple factors. Firstly, there is a significant rise in the prevalence of myopia worldwide, especially among children and young adults. This has led to an increased demand for effective and non-surgical treatment options like Orthokeratology. Additionally, advancements in lens designs and materials have improved the safety and efficacy of Orthokeratology, further driving its adoption.

In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the Orthokeratology market. This can be attributed to the high prevalence of myopia in countries like China, Japan, and South Korea. Moreover, increasing awareness about the benefits of Orthokeratology and the presence of a large consumer base contribute to the growth of the market in this region. North America and Europe also hold significant market shares due to the rising incidence of myopia and the adoption of advanced eye care technologies.

Key players operating in the Orthokeratology market include Autek China, Alpha Corporation, Bausch and Lomb Inc., Euclid Systems, E & E Optics, Essilor International S.A., GP Specialists, Paragon Vision Sciences, Procornea, and Taiwan Macro Vision Corporation. These key players focus on product innovation, strategic collaborations, and geographic expansion to strengthen their market positions. The market is highly competitive, with a strong emphasis on research and development to introduce new and advanced Orthokeratology products.

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