The Orthokeratology Lens Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Orthokeratology Lens Global Market Report 2024, The orthokeratology lens market size has grown strongly in recent years. It will grow from $2.36 billion in 2023 to $2.56 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to myopia management, advancements in lens materials, demand for non-surgical vision correction, increased lifestyle convenience, pediatric vision correction.
The orthokeratology lens market size is expected to see strong growth in the next few years. It will grow to $3.34 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing myopia prevalence, customization and personalization, rising healthcare awareness, global expansion of orthokeratology services, rising disposable income. Major trends in the forecast period include technological innovations, integration with digital health platforms, collaboration with eye care professionals, advanced material technologies, smart and innovative designs.
The rising incidence of eye-related disorders is expected to propel the growth of the orthokeratology lens market going forward. Eye disorders, also known as eye conditions or ophthalmic conditions, refer to a wide range of medical issues and abnormalities that affect the eyes and their associated structures. Orthokeratology (Ortho-K) lenses are primarily used to correct refractive errors, such as myopia (nearsightedness), and to provide temporary vision correction without the need for eyeglasses or daytime contact lenses. For instance, in December 2022, according to the Centers for Disease Control and Prevention, a US-based government agency, about 20.5 million Americans over the age of 40, or 17.2% of the population, have at least one cataract. By 2028, it is estimated that 30 million individuals will have cataracts. Therefore, the rising incidence of eye-related disorders is driving the growth of the orthokeratology lens market.
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The orthokeratology lens market covered in this report is segmented –
1) By Product Type: Day-time Ortho-K Lenses, Overnight Ortho-K Lenses
2) By Lens Material: Silicone Acrylate, Fluorosilicone Acrylate, Fluorocarbon Acrylate
3) By Indication: Myopia, Presbyopia, Hypermetropia, Astigmatism
4) By Distribution Channel: Hospitals, Optometry Clinics, Ophthalmology Clinics, Other Distribution Channels
Major companies operating in the orthokeratology lens market are developing innovative products such as Menicon Z Night to increase their profitability in the market. Menicon Z Night is a particular kind of orthokeratology lens, a form of contact lens made to alter the cornea’s shape and lessen refractive problems such as myopia, hyperopia, and astigmatism. For instance, in May 2023, Menicon Co. Ltd., a Japan-based eyewear company launched an orthokeratology lens named Menicon Z Night. It is applied to short-term corneal reshaping and vision improvement. The lens is worn at night to treat myopia and/or astigmatism, and after one week of use, it effectively reduces myopia and gives steady vision. It is typically well-tolerated and the lens is fitted with the use of computer software to ensure a high first-fit success rate.
The orthokeratology lens market report table of contents includes:
1. Executive Summary
2. Orthokeratology Lens Market Characteristics
3. Orthokeratology Lens Market Trends And Strategies
4. Orthokeratology Lens Market – Macro Economic Scenario
5. Global Orthokeratology Lens Market Size and Growth
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26. South America Orthokeratology Lens Market
27. Brazil Orthokeratology Lens Market
28. Middle East Orthokeratology Lens Market
29. Africa Orthokeratology Lens Market
30. Orthokeratology Lens Market Competitive Landscape And Company Profiles
Top Major Players:
- Essilor International
- Johnson & Johnson Vision Care Inc
- Alcon Inc
- Bausch & Lomb Inc
- CooperVision Inc
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