Overview

Orthokeratology Contact Lens Market Overview

The global orthokeratology contact lens market is forecasted to value over US$ 66 million by the end of 2027 and expanding at a CAGR of over 7% during the forecast period, 2020 to 2027.

Orthokeratology contact lens (also known as Ortho-K, OK, corneal reshaping, corneal refractive therapy, and vision shaping treatment) is an alternative method to correct refractive errors using custom-designed rigid lenses to temporarily modify the curvature of the cornea. Modern Ortho-K technology uses breathable rigid lens material and reverses geometry designs to allow faster and more effective corneal reshaping. Contrasting to the traditional Ortho-K designs, which use a series of progressively flattening concentric curves surrounding a central base curve fitting in alignment with the central cornea, the modern reverse geometry designs for myopia correction are characterized by a central base curve, that is, fitted significantly flatter relative to the central corneal curvature and one or more surrounding steeper secondary or “reverse” curves that enable a smooth transitioning from the flat-fitting base curve to the alignment-fitting landing curve. Currently, the most common clinical application of Ortho-K is for the reduction of myopia through corneal flattening.

According to WHO, refractory error and visual impairments can affect more 200 million people around the world. Refractive errors and visual impairments have huge impact personal well being of the general population and created a huge demand for effective treatment techniques. Rising prevalence of refractory errors among the general population boosted the demand of Orthokeratology techniques. Further, the rapid evolution of technical expertise reduced the risk factors of microbial keratitis and improved the efficiency of the process. Along with this, Orthokeratology has proven effective over the traditional method in controlling myopia progression. Further, increasing per capita healthcare expenditure of the general population has increased the adoption of orthokeratology procedures and led to the robust growth of the market. It is further supported by increasing healthcare expenditure and reimbursement policies by government bodies led to predominated growth during the forecast period.

Market is dominated by developed economies like North America and Europe region due to high per capita healthcare expenditure. North America accounts major share in the global market due to high adoption among end-user segment. The US dominated global market and it is a major shareholder. Europe is second major shareholder in global market and it is driven by well-established healthcare policies and reimbursement policies. The Asia Pacific is the third major shareholder and is expected to gain traction during the forecast period. In the late phase of the forecast period, Asia Pacific is expected to hold the second position in the global market due to increasing adoption. Latin America is a fast growing region and expected to remain the same throughout the forecast period due to increasing prevalence. Rest of World is second fast-growing region in the global market due to increasing prevalence.

Orthokeratology Contact Lens market players include Euclid Systems, Bausch & Lomb, Precision Technologies, HORUS S.n.C. di Risoldi & C, Scotlens and others

Orthokeratology Contact Lens Market

Orthokeratology Contact Lens Market Segmentation

By Lens Type

+ Overnight Ortho-K

+ Daytime Ortho-K

By End User

+ Vision Care Centres

+ Ophthalmic Clinics

+ Hospitals

By Region

+ North America

+ Latin America

+ Europe

+ Asia Pacific

+ Rest of the World

Competitive Landscape:
• Tier 1 players- established companies in the market with a major market share
• Tier 2 players
• Emerging players which are growing rapidly
• New Entrants

FutureWise Key Takeaways
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth

Objectives of the Study:

• To provide with an exhaustive analysis on the global Market by Lens Type, by End-User, and by Region

• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies