GVR Report cover Orthokeratology Lens Market Size, Share & Trends Report

Orthokeratology Lens Market Size, Share & Trends Analysis Report By Product Type (Day-time, Overnight Ortho-K Lenses), By Distribution Channel (Hospitals, Optometry Clinics), By Indication, And Segment Forecasts, 2022 - 2030

  • Report ID: GVR-4-68039-953-5
  • Number of Pages: 130
  • Format: Electronic (PDF)
  • Historical Range: 2017 - 2020
  • Industry: Healthcare

Report Overview

The global orthokeratology lens market size was estimated at USD 611.58 million in 2021 and is estimated to expand at a compound annual growth rate (CAGR) of 6.5% during the forecast period. Advances, such as the introduction of advanced overnight ortho-K-lens, combined with increasing FDA approval are augmented to fuel the growth of orthokeratology lenses. An increase in the elderly population base along with a rise in the use of digital screening leading to eye disorders will subsequently fuel the demand for orthokeratology lenses during the forecast period. The COVID-19 pandemic disrupted the operations and financial liquidity of market players in various fields including the ophthalmic industry.

Germany orthokeratology lens market size, by indication, 2020 - 2030 (USD Million)

The elective ophthalmic procedures were also affected by COVID-19 as surgical procedures including ophthalmology and health checkups were also reduced owing to COVID-19 restrictions. Furthermore, the supply chain of orthokeratology lenses was also interrupted during the COVID-19, owing to strict lockdown and other restrictions globally, creating an adverse impact on the market growth in 2020. The development of novel orthokeratology lenses, advanced technologies, and the availability of online platforms for eye testing to diagnose refractive errors are predicted to foster market growth.

In addition, the young generation prefers the trendy look and has different eyewear based on the occasion. Consumers demand newer designs and technologies, which forces companies to consistently focus on R&D to develop innovative products. An increasing number of awareness programs in developing economies for eye disease diagnosis is estimated to boost the demand for orthokeratology lenses during the forecast period. Vision correction in kids has resulted in better academic performance, which, in turn, results in higher demand for overnight ortho-K-lens.

Orthokeratology lenses are safe, specifically among children, owing to their easy usage. The capability to improve patients’ visualization and quality of life with the use of orthokeratology is one of the most stimulating developments in the ophthalmic industry. With advancements in diagnostic technology and lens materials, orthokeratology is a possible alternative to invasive surgery. In addition, companies working in the market are expanding their output product capacities including orthokeratology lenses to resolve various corneal disorders including myopia and astigmatism.

Product Type Insights

Based on product types, the global market has been further classified into overnight ortho-K-lens and day-time ortho-K-lens. The overnight ortho-K-lenses product type segment dominated the global market and accounted for the maximum share of more than 94%.00 of the overall revenue in 2021. This growth was attributed to the high adoption rates and effectiveness of overnight ortho-K-lens. Overnight ortho-K-lens significantly reduce any discomfort patients may have experienced while using conventional contact lenses. Overnight ortho-K-lens can bring ease of use to those who dislike wearing contact lenses or glasses during the day or contribute and participate in sports.

Thus, various advantages associated with overnight ortho-K-lens are projected to augment the segment growth. Increasing FDA approvals of orthokeratology lenses for the treatment of refractive disorders along with lens design advancements are projected to fuel the market growth. For instance, in May 2021, the U.S. FDA approved the first ortho-k lens for the treatment of myopia. The daytime ortho-K-lens segment held a substantial market share in 2021. As daytime ortho-K-lens are not considered the most comfortable lenses and are normally worn at night. If an individual wears daytime ortho-K-lens, they might have symptoms of dry eye. Thus, side effects associated with these lenses may hamper the market progression.

Indication Insights

On the basis of indications, the global market is segmented into myopia, presbyopia, hypermetropia, astigmatism, and others. Myopia segment held around 40% market share in 2021. The rising prevalence of myopia is projected to favor the orthokeratology lenses market in the study period. For instance, according to the Investigative Ophthalmology and Visual Science journal around 1.9 billion people, i.e., nearly 27% of the world’s population were suffering from myopia. Myopia can incur significant ocular-related morbidity and substantial healthcare costs. The incidence of myopia is expected to grow even further during the forecast period. Myopia will be one of the leading cause of permanent blindness globally during the forecast period.

Orthokeratology lenses are majorly preferred among children, as the prevalence of myopia is greater in children. Orthokeratology lens helps in slowing down the myopia progression, specifically among youngsters, augmenting the segment growth. As per the WHO, the percentage of people suffering from myopia is expected to reach 52% by 2050. The astigmatism segment held a considerable market share in 2021. The increasing prevalence of astigmatism is anticipated to surge the demand for orthokeratology lenses. According to The American Optometric Association, in astigmatism, people prefer corrective eyeglasses to improve their vision rather than surgery. Moreover, each year, 1 in every 3 persons in the U.S. is suffering from astigmatism, which is expected to increase in the near future.

Distribution Channel Insights

Based on distribution channels, the market is segmented into hospitals, ophthalmic clinics, optometry clinics, and others. The hospitals segment accounted for the largest share of around 24% in 2021. Investments in orthokeratology lenses are gradually growing in hospitals owing to the rising incidence of eye-related disorders, such as cataracts and glaucoma, which is boosting the market growth. Increasing adoption of orthokeratology lenses in hospitals owing to advanced treatment facilities is estimated to fuel the hospitals' segment growth. However, usage rates of orthokeratology lenses may vary across hospitals across the globe, which may impede market growth. The ophthalmic clinics segment witnessed a significant CAGR during the forecast period.

Global orthokeratology lens market share, by distribution channel, 2021 (%)

Ophthalmic clinics are specifically favored by individuals owing to their low costs to patients. The rising number of patients developing vision loss is predicted to boost the demand for ophthalmic clinics. The rising number of ophthalmologists in developing economies is estimated to result in an increased demand for ophthalmic clinics, thereby favoring the segment growth. Moreover, rising accessibility to advanced ophthalmology-associated technologies in ophthalmic clinics in several untapped economies is expected to contribute to segment growth. Increasing competition in ophthalmic clinics is anticipated to fuel the demand for orthokeratology lens over the forecast period. Furthermore, various hospitals are introducing combined ophthalmic centers for several refractive disorders, which is expected to boost the segment growth.

Regional Insights

North America dominated the market in 2021 and accounted for more than 37.5% of the global revenue. Recent progressions in orthokeratology lenses, the launch of overnight ortho-K-lenses coupled with flexibility and choices are some of the factors expected to fuel the market growth. Increasing cases of visual impairment along with the rising adoption of orthokeratology lenses across the U.S. and Canada is estimated to create wide growth opportunities across the U.S. In addition, the local presence of major market players in the U.S., such as CooperVision, Johnson & Johnson Vision, and Bausch & Lomb Inc., is projected to likely enhance the regional growth. The Europe region accounted for the second-highest revenue share and is expected to register a significant CAGR during the forecast period.

The increasing prevalence of ocular disorders, such as myopia and presbyopia, is projected to boost the adoption of orthokeratology lenses among healthcare professionals. Technological advancements along with the increasing number of products receiving CE approval are estimated to foster regional growth. Asia Pacific is predicted to grow at a significant CAGR over the forecast period. Rising healthcare expenditure along with increasing awareness related to eye disorders is anticipated to foster market growth. The growing geriatric population base and increasing adoption of orthokeratology lenses within India and China is anticipated to spur the market. Furthermore, the increasing number of ophthalmic clinics and hospitals within countries of Asia is estimated to accelerate the demand for orthokeratology lenses over the forecast period.

Key Companies & Market Share Insights

Key companies operating in orthokeratology lens are focusing on product launch, mergers & acquisitions, partnerships & collaboration, product approval, and others to expand their global reach. The market is highly competitive as key players are involved in extensive R&D to produce efficient and cost-effective orthokeratology lenses. For instance, in May 2021, Johnson & Johnson Vision received FDA approval for its first orthokeratology lens for the management of myopia. In May 2021, CooperVision’s procornea dreamlite orthokeratology lenses received CE approval for slowing the myopia progression among young adults and children. Some of the key players operating in the global orthokeratology lens market are:

  • Bausch & Lomb Inc.

  • Euclid Systems Corp.

  • CooperVision

  • Johnson & Johnson Vision Care, Inc.

  • Alpha Corporation (Menicon Group)

  • Brighten Optix, Co.

  • GP Specialists

  • TruForm Optics, Inc.

  • Art Optical Contact Lens, Inc.

  • MiracLens L.L.C.

Orthokeratology Lens Market Report Scope

Report Attribute

Details

Market size value in 2022

USD 650.78 million

Revenue forecast in 2030

USD 1.08 billion

Growth rate

CAGR of 6.59% from 2022 to 2030

Base year for estimation

2021

Historical period

2017 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD million/billion and CAGR from 2022 to 2030

Report coverage

Revenue forecast, company share, competitive landscape, growth factors & trends

Segments covered

Product type, indication, distributionchannel,region

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

U.S.; Canada; U.K.; Germany; France; Italy; Spain; Japan; China; India; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE

Key companies profiled

Bausch & Lomb Inc.; Euclid Systems Corp.; CooperVision; Johnson & Johnson Vision Care, Inc.; Alpha Corporation (Menicon Group); Brighten Optix, Co.; GP Specialists; TruForm Optics, Inc.; Art Optical Contact Lens, Inc.; MiracLens L.L.C.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional, and segment scope

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Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global orthokeratology lens market report based on product type, indication, distribution channel, and region:

  • Product Type Outlook (Revenue, USD Million, 2017 - 2030)

    • Day-time Ortho-K Lenses

    • Overnight Ortho-K Lenses

  • Indication Outlook (Revenue, USD Million, 2017 - 2030)

    • Myopia

    • Presbyopia

    • Hypermetropia

    • Astigmatism

  • Distribution Channel Outlook (Revenue, USD Million, 2017 - 2030)

    • Hospitals

    • Optometry Clinics

    • Ophthalmology Clinics

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2030)

    • North America

      • U.S.

      • Canada

    • Europe

      • Germany

      • U.K.

      • France

      • Italy

      • Spain

    • Asia Pacific

      • Japan

      • China

      • India

      • Australia

    • Latin America

      • Brazil

      • Mexico

      • Argentina

    • MEA

      • South Africa

      • Saudi Arabia

      • UAE

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