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Orthokeratology, also known as corneal reshaping, is a procedure that uses specially designed contact lenses to temporarily reshape the cornea and correct myopia or near-sightedness. By using specialized contact lenses during overnight wear while sleeping, the corneal shape can be temporarily altered to modify refractive errors. Orthokeratology contact lenses aim to lessen a person’s dependence on corrective eyewear during waking hours by temporarily flattening the central cornea to correct distance vision. The lenses are usually worn during sleep to allow the cornea to reshape itself gradually. Major advantages of orthokeratology include myopia control, less degradation of vision compared to eyeglasses and contact lenses, and greater scope for sports and swimming without concerns regarding slipping or falling off of glasses.
The global Orthokeratology Market is estimated to be valued at US$ 71 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics
Growing awareness of orthokeratology as an effective alternative for controlling progression of myopia is a key driver for the market. According to the National Eye Institute, close to 50% of the world’s population is expected to become nearsighted by 2050. Hence, the demand for innovative options like orthokeratology for controlling myopia progression continues to surge. In addition, advantages such as improved peripheral vision, minimal disruption to lifestyle compared to traditional alternatives, and more aesthetic appearance than eyeglasses are boosting adoption of orthokeratology treatment worldwide. However, high cost of procedures and lack of insurance coverage in some regions continue to restrain rapid market growth to some extent.
Segment Analysis
The Orthokeratology market is dominated by the rigid gas permeable (RGP) lens segment which holds around 60% market share. RGP lenses are made of firm, durable materials that allow oxygen to pass through from the environment surrounding the cornea to nourish it. Their rigid and durable nature makes them a preferred solution for correcting vision and reducing hyperopia. The silicon hydrogel lens segment is expected to witness fastest growth during the forecast period due to benefits such as higher oxygen permeability, softness and comfort offered by these lenses.
PEST Analysis
Political: Regulations regarding medical device approvals are conducive for market growth of orthokeratology lenses. Various initiatives are being taken to increase availability and affordability of vision correction options.
Economic: Rising incomes and growing health awareness is driving demand for advanced vision correction technologies. The overall economic growth is positively impacting market opportunities.
Social: Growing adoption of orthokeratology among young adults and children for vision correction and myopia control is a key trend. Recommendations from eye care professionals are influential in purchase decisions.
Technological: Advancements in material science, lens design and customization capabilities are enhancing effectiveness and patient comfort levels. Digital technologies are enabling remote monitoring of lens wear and treatment.
Key Takeaways
The global Orthokeratology market is expected to witness high growth during the forecast period. The global Orthokeratology Market is estimated to be valued at US$ 71 Mn in 2023 and is expected to exhibit a CAGR of 9.5% over the forecast period 2024 to 2031.
North America region currently dominates due to presence of major players and high awareness levels. However, Asia Pacific region is expected to emerge as the fastest growing market led by large patient pool, improving access and rising affordability in countries like China and India.
Key players operating in the Orthokeratology market are 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. Autek China holds the largest market share owing to its early mover advantage and strong distribution network across Asia. Bausch and Lomb has a well-established global brand presence and is focusing on customized lens solutions.
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- Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
