Global orthokeratology market is estimated to witness high growth, owing : Increasing prevalence of myopia and other eye disorders
Global orthokeratology market is estimated to be valued at USD 420.4 Mn in 2024, exhibiting a CAGR of 5.1% over the forecast period (2024-2031). Growing popularity of orthokeratology as a non-invasive vision correction solution and rising prevalence of myopia across global population can drive the market growth.
Market Dynamics:
Global orthokeratology market growth is primarily driven by rising prevalence of myopia across both developed and developing nations. According to recent studies, nearly 50% of the global population is expected to be near-sighted by 2050. Moreover, increasing product commercialization through innovative designs and materials encourages more optometrists to recommend orthokeratology for myopia control. Several market players have introduced proprietary orthokeratology lens designs with enhanced comfort and personalized correction capabilities. This ongoing product can drive the market growth during the forecast period.
Market Driver: Increasing prevalence of myopia and other eye disorders
Rising prevalence of myopia and other eye disorders can drive the market growth. According to the World Health Organization, around 2.7 billion people globally are estimated to be affected by myopia by 2050. Rising number of eye disorders can be attributed to increased time spent on digital devices, lack of outdoor activities and environmental factors. Orthokeratology utilizes specialized contact lenses to reform the shape of the cornea and temporarily reduce myopia progression. This drive-in demand for non-invasive corrective solutions has propelled the adoption of orthokeratology among patients and clinicians. Manufacturers are launching innovative orthokeratology products targeting different age groups and refractive errors, further, driving the market growth.
Market Driver: Advancements in orthokeratology lens design and materials
Significant advancements have been made in orthokeratology lens design, materials and ophthalmic technology. Lens manufacturers are developing advanced multifocal and customized lenses tailored to individual patient needs. Use of novel biomaterials such as silicone hydrogel reduces lens dehydration, improves comfort and extends daily wear duration. Digitally designed lenses offer precise correction with minimal dependence on manual skills. Integration of smart lens technology enables remote monitoring of treatment progress and personalized care. Accelerated approval pathways by regulatory bodies for innovative orthokeratology products will boost greater R&D investments. These advancements enhance the efficacy, safety and affordability of orthokeratology.
Market Restraint: High cost of treatment and lack of insurance coverage
The initial cost of orthokeratology examination, custom lenses and follow-up care is significantly higher compared to corrective eyewear. Standard replacement cycles also increases the recurring expenses. Moreover, orthokeratology treatment costs are typically not covered by insurance in most regions. The high out-of-pocket expenses can hamper the market growth, limiting access for people from low and middle-income groups. Manufacturers focus on developed markets with favorable reimbursement systems, while many developing countries remain untapped. High costs also contribute to low patient compliance as regular lens replacement is important to maintain efficacy. Concerted efforts are needed to make orthokeratology more affordable and financially viable through innovative pricing models.
Market Restraint: Risks associated with overnight corneal reshaping
While orthokeratology is generally safe, adverse events relating to overnight corneal reshaping can potentially deter its adoption. Rare risks include infective keratitis, sterile corneal infiltrates, corneal edema and vision abnormalities. Young people require careful clinical assessment before treatment due to higher risk of complications during sleep. Compliance issues like improper lens handling, unhygienic solutions and extended usage beyond recommended hours can further increase safety risks. Moreover, long-term effects of overnight lens wear continue to be studied. Highlighting complications in marketing collaterals may create negative perception among potential patients and limit market growth. Constant innovation is needed to develop safer lens materials and further mitigate risks.
Market Opportunity: Emerging economies with large myopic populations
Emerging economies such as China, India and Southeast Asian countries offer a substantial growth opportunity due to their massive population strata affected by myopia and compound annual GDP growth rates. In China alone, around 500 million people are expected to be myopic by 2050. These regions lack extensive utilization of vision correction methods including orthokeratology currently. Manufacturers can gain market share by lowering costs through local manufacturing, pricing innovations and partnerships with regional players. Favorable government policies supporting vision care can also drive the market growth. Rising disposable incomes, growing middle class, technological advancements, and greater awareness on preventive eyecare can boost orthokeratology adoption across Asia Pacific.
Market Opportunity: Combination with digital applications
Integration of orthokeratology with digital applications has significant potential to augment adherence, efficacy and experience. Areas such as customized e-commerce platforms for Tele-ortho examinations, smart devices for remote monitoring, artificial intelligence for personalized treatment, augmented reality-based lenses, 3D printers for mass customization and integrated EHR can witness growth. On-demand care through telehealth portals circumvents logistic challenges and improves access in remote areas. Data-driven insights from AI and virtual reality technologies will optimize outcomes. Investment in digital capabilities helps differentiate product offerings, strengthen customer relationships and gain competitive edge. Leveraging collaborative opportunities in digital therapeutics can drive the market growth.
Link: https://www.coherentmarketinsights.com/market-insight/orthokeratology-market-2193
Key Developments
- In May 2023, Menicon Co. Ltd. introduced its “Menicon Z Night” orthokeratology lenses in China. These lenses are already popular in Southeast Asia, Australia, and Europe.
- In January 2023, CooperVision Specialty EyeCare launched Visavy, a pioneering digital fitting tool, at the 2023 Global Specialty Lens Symposium (GSLS). Pronounced Vee-SAH-vee, this tool utilizes topography-guided algorithms to assist in the design and selection of Paragon CRT orthokeratology contact lenses through a user-friendly web-based fitting program, enhancing myopia control.
- In October 2022, Johnson & Johnson Vision, a leader in eye health and part of Johnson & Johnson MedTech, received Health Canada approval for ACUVUE Abiliti Overnight Therapeutic Lenses for myopia management. These ortho-k lenses are designed to reshape the cornea overnight for myopia control. This approval follows the September 2021 approval of ACUVUE Abiliti 1-Day Soft Therapeutic Lenses.
- In September 2021, Scotlens partnered with Avizor to launch ‘Nocturnal by Scotlens,’ a premium unboxing experience for ortho-K night lenses, aiming to boost public awareness and excitement about this eye care innovation. While ortho-K lenses have significant potential, their marketing has lagged behind that of laser surgery and fashionable eyewear.
Key Players: Bausch + Lomb, Johnson & Johnson Vision, CooperVision, GP Specialists, Paragon Vision Sciences, Alpha Corporation, Euclid Systems Corporation, Procornea, Art Optical Contact Lens, Inc., Brighten Optix, Menicon, E&E Optics, Autek China, Precilens, AOK Group, Gelflex, Essilor International S.A., TFOS Orthokeratology
