Global Orthokeratology Contact Lens Market is Anticipated to Value Over US$ 66 Million by 2026 End

  • 18 Jun 2019

The global orthokeratology contact lens market is forecasted to value over US$ 66 million by the end of 2026 and expanding at a CAGR of over 7% during the forecast period, 2019 to 2026.
Orthokeratology contact lens is commonly known as Corneal Reshaping, Vision shaping treatment,  Ortho-K and corneal refractive therapy. Orthokeratology is an alternative approach to fix refractive errors. It uses a custom-designed inflexible lens to adjust the curvature of the cornea for the time being or temporarily. Modern Orthokeratology utilizes reversal geometry designs and breathable inflexible lens material to permit more effective and faster corneal reshaping. Modern Orthokeratology differs from traditional Orthokeratology. Traditional Orthokeratology revolves around a series of gradually straightening concentric curves neighbouring central base curve which is apt in adjusting with the central cornea whereas modern Orthokeratology reversal geometry designs to permit more effective corneal reshaping. 
The global orthokeratology market is divided into four segments. The segments are hyperopia, presbyopia and astigmatism. Myopia controls the majority of the market. According to WHO, refractive error and visual impairments can affect more than 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 for 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. The increasing growth of online campaign regarding the importance of orthokeratology lenses for the treatment of myopia is fuelling the growth of the market.


 Factors like lack of training of wearers and practitioners, presence of microbial keratitis, imprudent fitting procedures and failure of following routine follow-ups can restraint the growth of the market. Also fitting of the orthokeratology lenses requires expertise and is a time-consuming process, hence such things hinder the prospect of the market.
The market is dominated by developed economies like North America and Europe region due to high per capita healthcare expenditure. North America accounts for a major share in the global market due to high adoption among end-user segment. The US dominated the global market and it is a major shareholder. Europe is the second major shareholder in the 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 the World is the 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 Restraints: 
●    Lack of training of wearers and practitioners
●    Presence of microbial keratitis
●    Imprudent fitting procedures

Orthokeratology Contact Lens Segmentation:
By Lens Type

●    Overnight Ortho-K
●    Daytime Ortho-K

By End Users
●    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 Orthokeratology Contact Lens Market by lens market, 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  

 

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