|Market Size in 2022||Market Forecast in 2030||CAGR (in %)||Base Year|
|USD 3010 million||USD 7350 million||9.01%||2022|
Orthokeratology Lens Market
The global orthokeratology lens market size was evaluated at $3010 million in 2022 and is slated to hit $7350 million by the end of 2030 with a CAGR of nearly 9.01% between 2023 and 2030.
Orthokeratology lens is a particular kind of gas-permeable lens that is designed for individuals belonging to all ages. Furthermore, these products are worn by patients in the daytime, thereby helping the latter avoid wearing contact lenses or spectacles in the daytime. For the record, a large number of clinical studies have demonstrated that wearing an orthokeratology lens is one of the key ways for decelerating myopia progression in children. Moreover, these products are also referred to as daytime ortho-k lenses by a few healthcare experts across the globe.
Rise in the frequency of refractive errors can boost the growth of the market globally
Surging cases of refractive errors including hyperopia, myopia, and astigmatism witnessed among people across the globe will benefit the growth of the global orthokeratology lens market. Rising awareness about the advantages of the product among the subjects will steer the global market trends. Furthermore, the rising preference for non-surgical methods for correcting visions will scale up the demand for orthokeratology lenses in the coming years. Massive requirements for reducing the need for wearing spectacles as well as contact lenses during the daytime can protrude the expansion of the market globally. Apart from this, a surge in product approvals and new product launches along with technological breakthroughs will proliferate the growth of the global market in the upcoming years. For instance, in the first quarter of 2022, Johnson & Johnson Care, Inc., a U.S.-based pharmaceutical firm, introduced ACUVUE ABILITI. The move is aimed at addressing growing cases of orthokeratology myopia in countries such as Hong Kong.
Lack of reimbursement policies can disrupt the global industry expansion over forecasting timeline
Lack of compensation policies for orthokeratology therapy and huge prices of fitting and post-fitting orthokeratology lenses will put brakes on the global orthokeratology lens market expansion. Apart from this, side-effects associated with the use of the product including eye itching, glare, dry eyes, and distorted vision have resulted in a reduction in the use of the product, thereby curtailing the global market demand.
Increase in the aging population prone to eye disorders can open new growth avenues for the global market
A rise in the geriatric populace and an increment in digital screening resulting in vision or ocular disorders are likely to escalate the demand for orthokeratology lenses. This, in turn, will open new growth avenues for the global orthokeratology lens market in the coming years. Furthermore, the firms are trying to expand their product portfolios for resolving corneal disorders such as astigmatism and myopia. This will further enlarge the scope of the demand for orthokeratology lenses in the coming years.
Stringent legislation related to product usage in treating eye ailments can be a challenging task for the global industry expansion by 2030
Strict laws governing the use of product in treating ocular disorders will create huge challenges in the path of growth of the global orthokeratology lens industry.
The global orthokeratology lens market is sectored into type, age group, application, and region.
In type terms, the global orthokeratology lens market is segregated into overnight lens and daytime lens segments. Furthermore, the overnight lens segment, which acquired approximately 37% of the global market revenue in 2022, is anticipated to register the highest growth rate in the coming eight years. The growth of the segment during the projected timeline will be credited to a large-scale use of overnight lens by the populace globally as there is no need for wearing contact lenses or eyeglasses during the daytime as overnight lens offers comfort to the wearer.
Based on the age group, the global orthokeratology lens industry is sectored into children and adults segments. Moreover, the children segment, which accumulated the largest share of the global industry in 2022, is anticipated to lead the segmental surge in the next couple of years. The expansion of the segment in the upcoming years can be owing to a rise in the frequency of refractive errors, myopia, and astigmatism in children. Reportedly, a rise in the number of clinical studies exhibiting the advantages of orthokeratology lenses in putting brakes on myopia progression in children at the initial phase will increase their use in children, thereby steering the segmental expansion.
Based on the application, the orthokeratology lens market across the globe is divided into astigmatism, myopia, and others segments. Furthermore, the myopia segment, which acquired a huge share of the global market in 2022, is slated to record the fastest growth in the years ahead. The segmental expansion over the assessment timeframe can be ascribed to a rise in the occurrence of myopia in aging population and children. Furthermore, growing patient inclination towards non-invasive surgical methods over refractive ones is few of the major drivers of the segmental surge.
|Report Attributes||Report Details|
|Report Name||Orthokeratology Lens Market|
|Market Size in 2022||USD 3010 Million|
|Market Forecast in 2030||USD 7350 Million|
|Growth Rate||CAGR of 9.01%|
|Number of Pages||231|
|Key Companies Covered||Bausch & Lomb Inc., Johnson & Johnson Vision Care Inc., Brighten Optix, Co., GP Specialists, Orthokeratolo, MiracLens L.L.C., Art Optical Contact Lens Inc., TruForm Optics Inc., Alpha Corporation (Menicon Group), CooperVision, Euclid Systems Corp., and others.|
|Segments Covered||By Type, By Application, By Age Group, and By Region|
|Regions Covered||North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)|
|Historical Year||2017 to 2021|
|Forecast Year||2023 - 2030|
|Customization Scope||Avail customized purchase options to meet your exact research needs. Request For Customization|
Asia-Pacific to maintain its global market leadership over the prognosis period
Asia-Pacific, which accumulated nearly two-thirds of the global orthokeratology lens market revenue share in 2022, is predicted to lead the regional landscape in the ensuing years. Additionally, the regional market expansion over the upcoming years can be due to the large-scale use of these products in countries such as Japan, India, and China along with surging awareness about these products in these countries. Favorable government policies over product use and growing consciousness among people about the benefits offered by the product will drive regional market trends.
North American orthokeratology lens industry is set to register the highest CAGR in the upcoming years owing to an increase in the business strategy of mergers & acquisitions adopted by the key players in the industry in countries such as the U.S. Apart from this, easy raw material availability along with presence of key manufacturers and vendors in the region will expand the scope of the industry demand in the region.
The global orthokeratology lens market profiles key players such as:
By Age Group
Orthokeratology lens is a particular kind of gas-permeable lens that is designed for individuals belonging to all ages.
The global orthokeratology lens market growth can be owing to the massive requirement for reducing the need for wearing spectacles as well as contact lenses during the daytime.
According to a study, the global orthokeratology lens industry size was $3010 million in 2022 and is projected to reach $7350 million by the end of 2030.
The global orthokeratology lens market is anticipated to record a CAGR of nearly 9.01% from 2023 to 2030.
The North American orthokeratology lens industry is set to register the fastest CAGR over the forecasting timeline subject to an increase in the business strategy of mergers & acquisitions adopted by the key players in the industry in countries such as the U.S. Apart from this, easy raw material availability along with presence of key manufacturers and vendors in the region will expand the scope of the industry demand in the region.
The global orthokeratology lens market is led by players such as Bausch & Lomb Inc., Johnson & Johnson Vision Care, Inc., Brighten Optix, Co., GP Specialists, Orthokeratolo, MiracLens L.L.C., Art Optical Contact Lens, Inc., TruForm Optics, Inc., Alpha Corporation (Menicon Group), CooperVision, and Euclid Systems Corp.
The orthokeratology lens market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.