by The global Orthokeratology Market is estimated to be valued at US$ 37.6 million in 2023 and is expected to exhibit a CAGR of 7.0% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Orthokeratology, also known as ortho-k, is a non-surgical procedure that uses specially designed contact lenses to temporarily reshape the curvature of the cornea to reduce or eliminate myopia (nearsightedness) or astigmatism. These lenses are worn overnight and removed during the day, providing clear vision without the need for glasses or daytime contact lens wear. The advantages of orthokeratology include improved vision during the day, reduced dependency on glasses or contact lenses, and slow progression of myopia in children. With the rising prevalence of myopia across the globe, the demand for orthokeratology is expected to increase significantly.
Market Key Trends:
One key trend in the orthokeratology market is the increasing adoption of ortho-k lenses in the pediatric population. Myopia is becoming increasingly prevalent in children, and orthokeratology offers a non-invasive and reversible solution to slow down the progression of myopia. The use of ortho-k lenses in children has shown promising results in reducing the rate of myopia progression, providing clear vision during the day, and reducing the risk of developing ocular complications associated with high levels of myopia. This trend is expected to drive the growth of the orthokeratology market, especially in regions with a high prevalence of myopia in children.
Segment Analysis:
The orthokeratology market can be segmented on the basis of product type, end users, and region.
In terms of product type, the dominant segment in the orthokeratology market is ortho-K lenses. These lenses are designed to reshape the cornea while the patient sleeps, temporarily correcting myopia. The demand for ortho-K lenses is increasing due to their ability to provide clear vision without the use of glasses or contact lenses during the day. Additionally, they are a non-surgical alternative to refractive surgeries such as LASIK. The ortho-K lenses segment is expected to dominate the market throughout the forecast period.
Key Takeaways:
The Global Orthokeratology Market Size is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period from 2023 to 2030. This growth can be attributed to increasing cases of myopia worldwide. Factors such as changing lifestyle, excessive screen time, and genetic predisposition are leading to a higher prevalence of myopia, especially among children and young adults.
Regionally, Asia Pacific is anticipated to be the fastest-growing and dominating region in the orthokeratology market. This can be attributed to the high prevalence of myopia in countries like China and South Korea. Additionally, the increasing adoption of ortho-K lenses as a convenient and non-invasive method for myopia correction is driving the market growth in this region.
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 players contribute significantly to the market by offering a wide range of orthokeratology products and services, engaging in research and development activities, and expanding their market presence through strategic collaborations and partnerships. The strong presence of key players ensures healthy competition in the orthokeratology market, encouraging product innovation and driving market growth.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
