Orthokeratology Lens Market

Market Overview:

The global orthokeratology lens market size reached US$ 730.6 Million in 2023. Looking forward, IMARC Group expects the market to reach US$ 1,418.5 Million by 2032, exhibiting a growth rate (CAGR) of 7.65% during 2024-2032. The growing number of online platforms for eye testing, rising prevalence of eye-related disorders, and the development of novel orthokeratology lenses represent some of the key factors driving the market.

Orthokeratology lenses are specially designed and fitted contact lenses that are used to temporarily reshape the cornea for enhancing vision. They rely on hydraulic forces to form a vault of fluid over the eye, allowing some parts of the cornea to take in more fluid and some parts to take in less for improving curvature issues. They are rigid and gas-permeable lenses that are highly durable to reshape the cornea while keeping the eyes healthy. They allow patients freedom from wearing eyeglasses all the time without any surgery. They also aid in slowing down progressive myopia in children while facilitating vision correction without corrective lenses among pilots, police officers, or athletes. As they assist in treating various eye disorders, such as astigmatism and hyperopia, the demand for orthokeratology lenses is rising across the globe.

Orthokeratology Lens Market Trends:

At present, the rising awareness among the masses about the benefits of using orthokeratology lenses represents one of the key factors supporting the growth of the market. Besides this, there is an increase in the number of online platforms for eye testing to diagnose refractive errors around the world. This, along with the development of novel orthokeratology lenses to offer painless and non-invasive treatments to patients, is propelling the growth of the market. In addition, governing agencies of various countries are organizing numerous awareness programs for eye disease diagnosis. They are also investing in healthcare infrastructure to provide advanced medical facilities, which is strengthening the growth of the market. Moreover, the increasing demand for orthokeratology lenses, as they are more comfortable compared to conventional contact lenses, is offering lucrative growth opportunities to industry investors. Apart from this, there is a rise in the demand for orthokeratology lenses due to the growing prevalence of eye-related disorders, such as cataracts and glaucoma, across the globe. This, coupled with the increasing number of ophthalmic clinics, is propelling the growth of the market. In line with this, various hospitals are introducing combined ophthalmic centers for several refractive disorders, which is positively influencing the market. Additionally, the escalating demand for orthokeratology lenses due to side effects of various vision correction surgeries, such as dry eye, itching, distorted vision, glare, and halos around light at night, is bolstering the growth of the market.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the global orthokeratology lens market report, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on product type, distribution channel, and application.

Product Type Insights:

• Day-Time Ortho-K-Lenses
• Overnight Ortho-K-Lenses
   

The report has provided a detailed breakup and analysis of the orthokeratology lens market based on the product type. This includes day-time ortho-k-lenses and overnight ortho-k-lenses. According to the report, overnight ortho-k-lenses represented the largest segment.

Distribution Channel Insights:

• Hospitals
• Ophthalmic Clinics
• Optometry Clinics
• Others
   

A detailed breakup and analysis of the orthokeratology lens market based on the distribution channel has also been provided in the report. This includes hospitals, ophthalmic clinics, optometry clinics, and others. According to the report, hospitals accounted for the largest market share.

Application Insights:

• Myopia
• Presbyopia
• Hypermetropia
• Astigmatism
   

A detailed breakup and analysis of the orthokeratology lens market based on the application channel has also been provided in the report. This includes myopia, presbyopia, hypermetropia, and astigmatism. According to the report, myopia accounted for the largest market share.

Regional Insights:

• North America
  • United States
  • Canada
• Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Others
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
• Latin America
  • Brazil
  • Mexico
  • Others
• Middle East and Africa
   

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, and others); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, North America was the largest market for orthokeratology lens. Some of the factors driving the North America orthokeratology lens market included the growing prevalence of ocular disorders, rising healthcare expenditure, increasing number of ophthalmic clinics, etc.

Competitive Landscape:

The report has also provided a comprehensive analysis of the competitive landscape in the global orthokeratology lens market. Competitive analysis such as market structure, market share by key players, player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided. Some of the companies covered include Alpha Corporation Inc. (Menicon Co. Ltd.), Art Optical Contact Lens Inc., Bausch & Lomb Incorporated, Brighten Optix.Co, Coopervision Inc. (The Cooper Companies Inc.), Euclid Vision Corporation, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Orthokeratology Lens Market Report Scope:

Key Questions Answered in This Report:

• How has the global orthokeratology lens market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global orthokeratology lens market?
• What is the impact of each driver, restraint, and opportunity on the global orthokeratology lens market?
• What are the key regional markets?
• Which countries represent the most attractive orthokeratology lens market?
• What is the breakup of the market based on the product type?
• Which is the most attractive product type in the orthokeratology lens market?
• What is the breakup of the market based on the distribution channel?
• Which is the most attractive distribution channel in the orthokeratology lens market?
• What is the breakup of the market based on the application?
• Which is the most attractive application in the orthokeratology lens market?
• What is the competitive structure of the global orthokeratology lens market?
• Who are the key players/companies in the global orthokeratology lens market?

Key Benefits for Stakeholders:

• IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the orthokeratology lens market from 2018-2032.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the global orthokeratology lens market.
• The study maps the leading, as well as the fastest-growing, regional markets. It further enables stakeholders to identify the key country-level markets within each region.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the orthokeratology lens industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.