by Orthokeratology is a nonsurgical technique that uses corrective lenses, known as orthokeratology lenses or ortho-k lenses, to temporarily reshape the cornea and reduce myopia (nearsightedness). These lenses are worn over the corneas at night while sleeping, and the controlled swelling they produce flattens the central cornea. During the day the cornea reassumes its original shape, resulting in improved vision without any lenses. This corrective technique offers convenience without the need for glasses or contact lenses during waking hours and is increasingly being adopted by young adults seeking nonsurgical vision correction.
The global Orthokeratology Market is estimated to be valued at US$ 64.74 Bn in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends fueling the growth of the orthokeratology market is the increasing popularity and adoption of orthokeratology among young adults and teenagers for the correction of mild to moderate myopia. These lenses are preferred over ordinary contact lenses or spectacles as they offer a convenient mode of vision correction without any optical aids required during waking hours. Additionally, orthokeratology is considered a more affordable alternative to laser eye surgery procedures among young consumers. As nearsightedness continues to rise among urbanized youth globally, the demand for non-invasive correction techniques like orthokeratology is expected to surge significantly.
SWOT Analysis
Strength: Orthokeratology helps improve vision without glasses or contact lenses. It is a non-surgical alternative to vision correction.
Weakness: Orthokeratology requires daily lens insertion and removal which can be inconvenient. There are also risks of infections if lenses are not handled properly.
Opportunity: Growing aging population suffering from presbyopia and myopia worldwide presents an opportunity. Increasing awareness about orthokeratology benefits also favors market growth.
Threats: Strong competition from refractive surgeries and glasses may hamper market revenue. Risks of infections and complications with orthokeratology use can challenge market demand.
Key Takeaways
The Global Orthokeratology Market Size is expected to witness high growth over the forecast period of 2023 to 2030. North America currently dominates the market owing to high awareness levels and easy availability of orthokeratology products in the region. The US contributes significantly to the large regional market share.
Key players operating in the orthokeratology market are The Cooper Companies Inc.,Euclid Systems Corporation,Menicon Co., Ltd.,GP Specialists, Inc.,TruForm Optics, Inc.,Art Optical Contact Lens, Inc.,MiracLens L.L.C.,Contex, Inc. These companies are focusing on new product launches and partnerships to strengthen their market position. For instance, Euclid Systems Corporation launched several orthokeratology lens designs to cater to varying vision conditions.
Asia Pacific is projected to witness the highest growth during the forecast period driven by growing middle class population specially in China and India opting for orthokeratology treatment. Rising healthcare infrastructure and increasing medical tourism are favoring regional market growth. Countries like China, Japan and South Korea are major revenue generators for the Asia Pacific orthokeratology market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
