Myopia and extreme myopia are becoming increasingly common around the world. Myopia is a major public health concern, and excessive myopia is the main cause of visual impairment globally. According to the National Centre for Biotechnology Information (NCBI) 2016 study, approximately half of the urban population in East Asia suffered from myopia, with the prevalence among students hovering around 90%.Furthermore, the development of visual difficulties from myopia occurs earlier than that of other causes of blindness, such as cataract, and hence its impact on quality of life is recognised earlier.
The global orthokeratology market was worth US$ 37.6 million in 2017 and is predicted to grow at a 7.0% CAGR between 2018 and 2026.
Major Players in the Orthokeratology Industry:
1. Alpha Corporation: Established in 2005. Japanese headquarters are in Tokyo. Owner of a Tokyo, Japan-based tutoring company. Through its private centres, which offer individual one-on-one teaching by qualified tutors, the organisation offers home tutoring services. A non-binding letter of intent to acquire a commercial stage regenerative medicine company was signed by Alpha Healthcare Acquisition Corp. III, a special purpose acquisition company run by Mr. Rajiv Shukla, today.
2. Bausch and Lomb Inc: Built in 1852. Head office in the United States. One of the biggest providers of vision care in the United States is Bausch & Lomb. Prior to being spun off to become a public company in 2022, the company was a subsidiary of parent company Bausch Health. It operates in three divisions: ophthalmic medicines, surgery, and vision care. The products that make up vision care include contact lenses, which B&L controls 10% of, and ocular health items like Biotrue and Lumify.
3. Euclid Systems: Established in 2010. Developer of a shopping analytics software with headquarters in the United States that tracks consumer behaviour in their physical stores. According to the company's website, the platform tracks how customers move through a store, how long they stay, and how frequently they return, giving brands in retail, banks, quick service restaurants, airports, and shopping malls the ability to help them optimise marketing, operations, and staffing in their physical locations. Euclid Vision Corp., a pioneer in the creation and distribution of specialist scleral contact lenses, is happy to announce the purchase of Visionary Optics, a leader in advanced orthokeratology and proactive myopia control efforts.
4. Essilor International S.A.: Established in 1848. Headquarters in France's Charenton-le-Pont. Leading producers of high-end eyewear, including sunglasses and frames, are combined under the name EssilorLuxottica. Both businesses control more than 15% of the fragmented worldwide eyeglass industry, making them much larger than the next-largest competitor in their respective industries. With roughly 37% of sales in Europe, 46% in North America, and the remainder split between Asia and Latin America, the corporation has a substantial global footprint.
5. GP Specialists: Created in 2003. United States headquarters. San Diego-based provider of myopia management solutions. The business alters corneal designs by providing single vision, keratoconus, toric, and ortho-k rgp lenses. The well-known distributor and maker of customised orthokeratology contact lenses, C&E GP Specialists, Inc., has been bought by CooperVision. The move strengthens CooperVision's Specialty EyeCare division's leadership in combating myopia's rising prevalence and severity.
6. Paragon Vision Sciences: Built in 1976. United States headquarters. Manufacturer of specialised contact lenses made from polymer and oxygen-permeable materials. The business provides no-cost examinations for people of all ages who need non-surgical contact lenses to treat myopia and corneal refractive therapy (CRT).
7. Procornea: Built in 1975. Headquarters in the Netherlands, at Eerbeek. Soft contact lenses are made and sold by manufacturers. Customers can improve their vision with the help of the firm's rigid gas permeable (RGP) contact lens manufacturing and distribution expertise. The company also offers a selection of soft contact lenses. CooperVision said in 2021 that it will purchase No7 Contact Lenses, a company that creates and manufactures speciality contact lenses sold largely in the UK.
*Definition: Orthokeratology, or ortho-k, is the use of specially designed and fitted contact lenses to temporarily reshape the cornea to improve vision.
