While this factor will continue to play a pivotal role in growing adoption of Ortho-K lenses, Future Market Insights has discovered a few other factors that are likely to impact the growth of orthokeratology market in near future. In a recently released report, titled “Orthokeratology Market: Global Industry Analysis 2013-2021 and Opportunity Assessment, 2022–2028,” the performance of global market for orthokeratology is assessed for a 10-year period 2022-2028.
Increasing online efforts in patient education and awareness about Ortho-K, coupled with an intensifying rate of success of orthokeratology lenses in recent years, is expected to strengthen the prospects for the global orthokeratology market, over the next decade. The market is likely to witness a promising CAGR of 7.4%; Whereas, the global revenue is anticipated to reach beyond US$ 88 million by the end of 2028.
While increasing prevalence of myopia stands as a key factor impacting the market growth, several advantages of Ortho-K lenses over the conventional contact lenses have been recognized to be pushing adoption of orthokeratology among sports persons. A few restrictions arising in the case of LASIK surgery will also be reportedly responsible for growing inclination for Ortho-K. On the flipside, the adoption of orthokeratology lenses among the myopic patient is less than 0.5%, which is a major factor deterring the growth of the market. In few underdeveloped, patient are not able afford the high cost of ortho-k lenses and also the high fees of ophthalmologists and optometrists which will also deter the growth of market to some extent.
Orthokeratology Market Historical Analysis (2013-2021) Vs. Market Outlook (2022-2028)The global orthokeratology market value increased at around 6.9% CAGR from 2013 to 2021.
Orthokeratology (Ortho-K), an emerging treatment option for myopia, presbyopia, hyperopia, and astigmatism, is a non-invasive process and works on the principle of corneal replacement. At present, there are two FDA approved Ortho-K therapies: Corneal Refractive Therapy (CRT) and Vision Shaping Treatment (VST).
Patients availing these treatments need to wear the Ortho-K lenses for 6 to 8 hours at night during their sleep, and this reshapes their cornea to facilitate clear vision during the daytime.
Orthokeratology has been considered to facilitate the elimination of contact lens-related vision problems, providing patients with the freedom to experience an active lifestyle. While this factor will continue to play a pivotal role in the growing adoption of Ortho-K lenses.
Increasing online efforts in patient education and awareness about Ortho-K, coupled with an intensifying rate of success of orthokeratology lenses in recent years, is expected to strengthen the prospects for the global orthokeratology market, over the coming years.
While increasing prevalence of myopia stands as a key factor impacting market growth, several advantages of orthokeratology lenses over conventional contact lenses have been recognized to be pushing the adoption of orthokeratology devices among sportspersons.
The orthokeratology market is projected to expand at a CAGR of around 7.3% from 2022 to 2028.
Myopia Continues to Remain the Most Influencing Indication, Accounting for a Major Revenue ShareMyopia is expected to remain a key indication driving the demand for orthokeratology, worldwide. With over 70% share of the total market value estimated for 2028, myopia will also provide an extensive scope for innovation opportunities. Hyperopia, followed by astigmatism, will represent the next key indicative factor, which is anticipated to drive market growth over the forecast period.
Demand from Optometry Clinics Accounts for a Share that Equates More than Half of the Market ValueAmong all distribution channels, optometry clinics will reportedly continue to generate the maximum demand for Ortho-K, accounting for a share of more than 50% to the total market value through 2028. Ophthalmic clinics are expected to hold a decent revenue share throughout the assessment period, hospitals whereas are likely to emerge as the most opportunistic distribution channel.
MEA Still Struggles through Low Awareness LevelNorth America and Europe, which represent the key regional markets, will reportedly account for a collective value share of around 60% through 2028. Asia Pacific excluding China and Japan is slated for modest growth, whereas MEA will continue to witness sluggish growth rate owing to lower consumer awareness about relative availability and use of Ortho-K lenses.
Orthokeratology Market by Distribution Channel
- Optometry Clinics
- Ophthalmology Clinics
Orthokeratology Market by Region
- North America Orthokeratology Market
- Latin America Orthokeratology Market
- Europe Orthokeratology Market
- East Asia Orthokeratology Market
- South Asia & Pacific Orthokeratology Market
- Middle East & Africa (MEA) Orthokeratology Market