Dublin, March 21, 2024 (GLOBE NEWSWIRE) -- The "Global Orthokeratology Lens Market Analysis & Forecast to 2024-2034" report has been added to ResearchAndMarkets.com's offering.
The global orthokeratology lens market size was estimated to be USD 2.54 billion in 2023 and is expected to reach at USD 5.87 billion by 2034 with a CAGR of 7.92% during the forecast period 2024-2034. The surge in introduction of advanced overnight ortho-K-lens, rising FDA approval, growing elderly population, increasing use of digital screening leading to eye disorders, surge in R&D to develop innovative products, rising focus on the development of novel orthokeratology lenses, growing technological advancements, increasing availability of online platforms for conducting eye tests to diagnose refractive errors, surge in number of awareness programs for eye disease diagnosis, rising advancements in diagnostic technology & lens materials, and growing introduction of new products are some of the key factors boosting the market growth. 
The growing introduction of new products is predicted to boost the market growth during the forecast period. Orthokeratology, often referred to as Ortho-K or Corneal Refractive Therapy (CRT), is a non-surgical method for correcting refractive errors. It achieves this by altering the curvature of the cornea through the use of custom-designed rigid lenses. While orthokeratology is most commonly employed for myopia reduction, the increasing focus on myopia management initiatives is driving the growth of the orthokeratology field. For instance, in October 2022, Johnson & Johnson has introduced a new daily disposable contact lens called Acuvue Oasys Max 1-Day. This lens is specifically designed to offer all-day comfort and visual clarity for individuals who frequently use digital devices. It is anticipated to be available in the market by the fall of 2022, offering options in both spherical and multifocal parameters.
By product, overnight ortho-K-lenses was the highest revenue-grossing segment in the global orthokeratology lens market in 2023 owing to the increasing adoption rates & effectiveness of overnight ortho-K-lens, rising lens design advancements, and growing FDA approvals of orthokeratology lenses for the treatment of refractive disorders. For instance, in September 2022, Johnson & Johnson Vision, a prominent figure in the field of eye health and a division of Johnson & Johnson MedTech, has disclosed that the FDA has approved an expanded range of ACUVUE Abiliti Overnight Therapeutic Lenses for Myopia Management. This range is now extended to cover up to 6.00 diopters, offering a more comprehensive solution for myopia management. Additionally, daytime ortho-K-lens is predicted to grow at fastest CAGR during the forecast period owing to the rising efforts for the development of novel lens products and surge in R&D activities.
By indication, myopia was the highest revenue-grossing segment in the global orthokeratology lens market in 2023 owing to the rising prevalence of myopia leading cause of permanent blindness, surge in number of children suffering from myopia, and growing initiatives by key market players. For instance, in January 2022, Euclid Systems Corporation has partnered with the Global Specialty Lens Symposium to promote myopia awareness and to educate eye care providers (ECPs) about advanced orthokeratology lenses and proactive myopia management. Additionally, astigmatism is predicted to grow at fastest CAGR during the forecast period owing to the growing prevalence of astigmatism and increasing focus on the development of innovative orthokeratology lenses.
By distribution channel, hospitals was the highest revenue-grossing segment in the global orthokeratology lens market in 2023 owing to the rising investments in orthokeratology lenses in hospitals, surge in incidence of eye-related disorders such as cataracts & glaucoma, growing adoption of orthokeratology lenses in hospitals owing to advanced treatment facilities, and increasing mergers & acquisitions within market players. For instance, in June 2022, Cooper Vision has revealed its acquisition of EnsEyes, a company that supplies orthokeratology and scleral contact lenses in the Nordic region of Europe. As part of this acquisition, EnsEyes will become integrated into the Cooper Vision eyecare organization. Additionally, ophthalmic clinics is predicted to grow at fastest CAGR during the forecast period owing to the surge in number of patients developing vision loss, growing number of ophthalmologists is estimated to result in an increased demand for ophthalmic clinics, improved access to advanced ophthalmology-related technologies in ophthalmic clinics is expanding, numerous hospitals are establishing integrated ophthalmic centers to address a variety of refractive disorders.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing advancements in orthokeratology lenses, growing introduction of overnight ortho-K lenses along with enhanced flexibility & a wider range of options, growing prevalence of ocular disorders such as presbyopia & myopia, surge in launch of innovative products. For instance, in June 2023, Bausch + Lomb has introduced their disposable Bausch + Lomb INFUSE Multifocal Silicone Hydrogel Contact Lenses in the United States. These lenses are designed to provide reduced dryness, all-day comfort, and clear vision for contact lens wearers. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the growing healthcare expenditure, rising awareness related to eye disorders, surge in geriatric population, increasing adoption of orthokeratology lenses, growing number of ophthalmic clinics & hospitals, and rising introduction of advanced products. For instance, in May 2023, Menicon Co. Ltd. has announced the launch of the orthokeratology lens Menicon Z Night in China.
Analysis and Projections of the Orthokeratology Lens Market by Product (2023-2034, Revenue in USD Billion)
- Overnight Ortho-K Lenses
- Day-time Ortho-K Lenses
Analysis and Projections of the Orthokeratology Lens Market by Indication (2023-2034, Revenue in USD Billion)
- Hypermetropia
- Myopia
- Astigmatism
- Presbyopia
Analysis and Projections of the Orthokeratology Lens Market by Distribution Channel (2023-2034, Revenue in USD Billion)
- Ophthalmology Clinics
- Hospitals
- Optometry Clinics
- Others
Analysis and Projections of the Orthokeratology Lens Market by Region (2023-2034, Revenue in USD Billion)
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Companies Mentioned
- Johnson & Johnson Vision Care Inc.
- Euclid Systems Corp.
- CooperVision
- Brighten Optix Co.
- GP Specialists
- MiracLens L.L.C.
- Alpha Corporation (Menicon Group)
- Bausch & Lomb Inc.
- Art Optical Contact Lens Inc.
- TruForm Optics Inc.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 200 |
| Forecast Period | 2023-2034 |
| Estimated Market Value (USD) in 2023 | $2.54 Billion |
| Forecasted Market Value (USD) by 2034 | $5.87 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/36ujfv
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