The orthokeratology lens market has witnessed significant growth over the past few years owing to the rising prevalence of myopia. Orthokeratology lenses are gas-permeable contact lenses worn overnight to temporarily reshape the cornea and reduce myopia. Key advantages of orthokeratology lenses include eliminating the need for prescription glasses or contact lenses during waking hours and slowing down the progression of myopia in children. The growing cases of nearsightedness globally have boosted the demand for alternative treatments such as orthokeratology.
The global orthokeratology market size is estimated to be valued at US$ 280 million in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024-2029.
Key Takeaways
Key players operating in the orthokeratology market are Johnson & Johnson Vision, Euclid Systems, E&E Optics, and Lucid Korea.
The rising prevalence of myopia in developing countries presents significant orthokeratology market opportunities in the offers lucrative opportunities owing to the large myopic population in countries like China and India.
Key players are expanding globally through acquisitions and partnerships to cater to the growing demand. For instance, in 2021, Euclid launched Clarity Night&Day in Europe and Australia to provide an all-day myopia control solution.
Market Drivers
Increasing prevalence of myopia is a major growth driver for the orthokeratology market. The global prevalence of myopia has increased from 22.9% in 1975 to 30% in 2000 and is expected to affect nearly 50% of the world's population by 2050.
Market Restraints
High costs of orthokeratology procedures compared to prescription glasses or contact lenses may limit the market growth to some extent. Lack of awareness about orthokeratology treatment in developing regions also poses a challenge.
Segment Analysis
The Orthokeratology market can be segmented based on type and application. In terms of type, the reverse geometry segment dominates the market as it is more comfortable for users and provides faster visual gains compared to other types. It makes up around 65% of the total market. Another major segment is bipolar segment which holds a share of 20% due to its advantages like corrective fitting for low to moderate myopia.
In terms of application, the myopia segment holds the largest share of 75% in the total orthokeratology market. Rising cases of myopia among young population globally is driving the growth of this segment. The hyperopia segment is the second largest and accounts for 15% share. It is expected to witness robust growth during the forecast period due to increasing acceptance of orthokeratology for correction of hyperopia.
Global Analysis
Geographically, the Asia Pacific region dominates the global orthokeratology market and is expected to grow at the highest CAGR during the forecast period. Countries like China, Japan and South Korea have high prevalence of myopia among young population which is supporting the market growth in the region. North America holds the second largest share and will continue to grow steadily throughout the forecast period. Factors such as availability of advanced devices, growing research on orthokeratology applications and rising healthcare expenditure are pushing the market growth in the region. Europe occupies a respectable market position owing to increasing vision correction procedures and availability of favorable health insurance schemes in the region.
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