Orthokeratology Lens Market Sees Promising Growth with Rising Demand for Non-Surgical Vision Treatment

VANCOUVER, BC, CANADA, June 3, 2024 /EINPresswire.com/ -- The global orthokeratology lens market has exhibited significant growth, reaching USD 642.80 million in 2022 and is projected to continue its upward trajectory with a steady revenue CAGR of 6.4% during the forecast period. This growth is primarily attributed to the rising prevalence of refractive errors such as myopia, hyperopia, and astigmatism among the global population, especially among children and the elderly.

Orthokeratology lenses, also known as ortho-k lenses, have gained popularity as a surgery-free method to correct myopia, offering a non-invasive alternative to traditional vision treatments like glasses, contact lenses, LASIK, or PRK. These lenses are designed to reshape the cornea during sleep, providing clear vision during the day.

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One of the key drivers of market growth is the increasing awareness and adoption of non-surgical vision treatments, with ortho-k lenses offering multiple advantages over traditional methods. These lenses reduce myopia progression, offer convenience for individuals who dislike daytime eyewear, and minimize the risk of dry eyes associated with regular contact lens wear.

Additionally, the market has benefited from growing government support and initiatives aimed at increasing eye health coverage and raising awareness about the treatment of eye disorders. Companies like Menicon Co., Ltd. and CooperVision have launched comprehensive treatment plans and marketing campaigns to address myopia control and management, driving market growth further.

Technological advancements in orthokeratology lens technology, particularly the integration of artificial intelligence (AI) and machine learning (ML), have revolutionized the field of ophthalmology. AI and ML technologies enhance the accuracy of ortho-k lens fitting, provide personalized lens therapy, and contribute to the development of algorithms for improved precision in vision shaping treatment.

Despite the promising growth prospects, the market faces certain restraints, including the high cost of ortho-k lenses, time-consuming fitting processes, and associated risks such as microbial keratitis infection. These factors pose challenges to market expansion, leading some consumers to opt for alternative treatment options like medications or surgical methods.

The market is segmented based on age group, with children accounting for the largest revenue share in 2022 due to the rising prevalence of myopia among young populations. Clinical studies and awareness programs focused on myopia management in children have contributed to market growth in this segment.

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Furthermore, the myopia segment dominates the market in terms of application, driven by the increasing prevalence of myopia globally. Orthokeratology lens providers are introducing innovative technologies to address and prevent myopia, driving segment growth.

Overnight orthokeratology lenses represent the largest segment by product type, owing to their high adoption rate and effectiveness in reshaping the cornea. These lenses are particularly suitable for individuals who experience discomfort with conventional contact lenses, contributing to their widespread adoption.

Orthokeratology Lens Top Companies and Competitive Landscape

The global Orthokeratology Lens market is consolidated, with few key players accounting for majority of market revenue. Major players are deploying various strategies, entering into mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective Orthokeratology Lens solutions.

Bausch + Lomb

Johnson & Johnson Vision

CooperVision

Art Optical Contact Lens, Inc.

Brighten Optix

CE GP Specialists

Alpha Corporation Inc.

Euclid Vision Corporation

Menicon Co., Ltd.

Wave LLC

IGEL Sdn Bhd

Essilor Contacts

MiracLens L.L.C.

TruForm Optics Inc.

Orthokeratology Lens Latest Industry Updates

On 27 June 2023, Euclid Vision Corporation, a global leader in advanced orthokeratology (Ortho-K) lenses and proactive myopia management initiatives declared collaboration with ABB Optical Group as a licensed manufacturer and distributor of the Euclid’s Ortho-K lenses.

On 28 July 2021, Visioneering Technologies, Inc. (VTI) announced the partnership with orthokeratology company Innovatus Technology Pty Ltd to address myopia management and to add more products to the VTI portfolio.

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Orthokeratology Lens Market Segment Analysis

For the purpose of this report, Emergen Research has segmented global Orthokeratology Lens market on the basis of Product Type, Age Group, Lens Material, Application, End-Use, and region:

Product Type Outlook (Revenue, USD Million; 2019-2032)

Overnight Orthokeratology Lens

Daytime Orthokeratology Lens

Age Group Outlook (Revenue, USD Million; 2019-2032)

Children

Adults

Lens Material Outlook (Revenue, USD Million; 2019-2032)

Silicon Acrylate

Fluorosilicone Acrylate

Fluorocarbon Acrylate

Others

Application Outlook (Revenue, USD Million; 2019-2032)

Myopia

Hyperopia

Presbyopia

Hypermetropia

Astigmatism

End-Use Outlook (Revenue, USD Million; 2019-2032)

Hospitals

Optometry Clinics

Ophthalmology Clinics

Others

Regional Outlook (Revenue, USD Million; 2019-2032)

North America

U.S.

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Spain

Benelux

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

UAE

South Africa

Turkey

Rest of MEA

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