[2021] Orthokeratology Market Size Is Projected to Reach US$ 68 Million at a CAGR of 7.0% By 2026 – Coherent Market Insights
SEATTLE, April 12, 2021, (PHARMIWEB) — Global Orthokeratology Market
Orthokeratology (Ortho-k) is a process that uses specially designed contact lenses to temporarily reshape the cornea in order to reduce the intensity of a condition, called myopia (nearsightedness). It is a non-surgical procedure, which offers reduced risks, in comparison to refractive surgeries. Ortho-k lenses are also termed as corneal reshaping contact lenses or overnight contact lenses, which help correct or control myopia.
These lenses are prescribed to correct refractive errors primarily nearsightedness, astigmatism, and hyperopia. In some cases, ortho-k is also used to correct presbyopia and to slow the progression of childhood myopia. According to a study published by the American Academy of Optometry 2015, use of orthokeratology lenses led to a consistent reduction in myopia progression of around 45% for a period of two-year and 30% over five years, in terms of axial length.
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The global orthokeratology market size was valued at US$ 37.6 million in 2017, and is expected to witness a magnificent CAGR of 7.0% during the forecast period (2018-2026).
Increasing prevalence of myopia worldwide to bolster the global market growth
The prevalence of myopia and high myopia is increasing worldwide at a significant rate. Myopia is a major public health concern and high myopia is ranked second, as the leading cause of visual impairment worldwide. According to the National Center for Biotechnology Information (NCBI) 2016 report, in East Asia, nearly 50% of urban population suffered from myopia and the prevalence among students was around 90%.
Moreover, onset of visual complications from myopia occurs earlier than other causes of blindness such as cataract and thus its impact on quality of life is also observed earlier. According to the Eye Contact Lens journal 2018 study, the economic burden of eye diseases in the U.S. is around US$ 139 billion, with nearly US$ 16 billion spent on myopia correction alone. Therefore, methods for preventing myopia and controlling its progression have high demand across the globe.
Moreover, prolonged usage of laptops, smartphones, and tablets is causing digital eye strain leading to permanent eye damage among kids and young population. Young people whose nearsightedness is progressively increasing are the most suitable candidates for orthokeratology. All these factors are collectively increasing the demand for ortho-K eventually driving the global orthokeratology market growth.
Global Orthokeratology Market Restraints
According to the NCBI 2016 report, factors such as onset of microbial keratitis, lack of training of practitioners and wearers, poor compliance to lens care regimens, improper fitting procedures, and lost to routine follow-ups can decrease the adoption of orthokeratology.
Fitting orthokeratology lenses is a more time-consuming process and requires more expertise than fitting regular contact lenses. Ortho-K lens requires a series of office visits and potentially multiple sets of lenses. Therefore, it increases the overall treatment costs, which can be a significant factor limiting the orthokeratology market growth.
Moreover, the cost of ortho-k, including follow-up care can vary significantly depending on the type and degree of refractive error and duration of myopia correction. In 2016, Ortho-k prices in the U.S. ranged from US$ 1,000 to US$ 2,000 (for both eyes). This cost can increase up to US$ 4,000 based on the difficulty of cases. Furthermore, orthokeratology is not covered completely by vision care insurance plans.
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Global Orthokeratology Market – Regional Insights
Europe is expected to generate a significant revenue share in the global orthokeratology market by the year 2026, owing to the burgeoning prevalence of short-sightedness across the region. According to a study published by Ulster University in 2015, rate of short-sightedness in the U.K. has doubled over the past 50 years, as children no longer spend enough time outdoors. Moreover, around 23% of teens suffer from myopia in the country.
Rapid increase of childhood myopia among the Asian population is a major factor propelling the demand for orthokeratology in the region. According to the Lancet Journal 2012 data, high myopia affects nearly 20% of secondary school children in East Asia and is associated with sight-threatening irreversible pathologies. In a 2016 study published by the National Center for Biotechnology Information (NCBI), the prevalence rate of myopia is highest in East Asia, as around 50% myopic people are found in Japan, China, Singapore and the Republic of Korea.
Global Orthokeratology Market – Competitive Backdrop
The well-known players operating in the global orthokeratology market include Autek China, Alpha Corporation, Bausch and Lomb Inc., Euclid Systems, E & E Optics, Essilor International S.A., GP Specialists, Paragon Vision Sciences, Procornea, and Taiwan Macro Vision Corporation.
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Table of Contents
- Research Objective and Assumption
- Research Objectives
- Assumptions
- Abbreviations
- Market Overview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Lens Type
- Market Snippet, By Application
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Impact Analysis
- Market Trends
- Key Developments
- Technological Advancements
- Pricing Analysis
- Epidemiology Analysis
- Market Dynamics
- Global Orthokeratology Market, By Lens Type, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Fluorosilicone Acrylate
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Silicone Acrylate
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Balafilcon
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Oprifocon A
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Introduction
- Global Orthokeratology Market, By Application, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Myopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Hyperopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Presbyopia
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Astigmatism
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Introduction
- Global Orthokeratology Market, By Distribution Channel, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, 2017 – 2026
- Segment Trends
- Hospitals
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Optometry Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Ophthalmology Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
- Introduction
- Global Orthokeratology Market, By Region, 2016 – 2026, (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2018 and 2026 (%)
- Y-o-Y Growth Analysis, By Region, 2016 – 2026
- Regional Trends
- North America
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- U.S.
- Canada
- Europe
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- U.K.
- Germany
- Italy
- France
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- China
- Japan
- India
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- Africa
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- Northern Africa
- Central Africa
- South Africa
- Middle East
- Market Size and Forecast, By Lens Type, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Application, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Distribution Channel, 2016 – 2026, (US$ Million)
- Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
- GCC Countries
- Israel
- Rest of Middle East
- Introduction
- Competitive Landscape
- Heat Map Analysis
- Company Profiles
- Company Overview
- Product Portfolio
- Financial Performance
- Recent Highlights
- Strategies
- Analyst Views
- Section
- References
- Research Methodology
- About us and Sales Contact
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