Pune, India, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The global orthokeratology lens market size is projected to make remarkable progress owing to the rising healthcare infrastructure across the world, finds Fortune Business Insights™ in its report, titled “Orthokeratology Lens Market, 2021-2028”.
Orthokeratology is a non-surgical procedure which is used to rectify the refractive errors by re-shaping the curvature of the cornea in order to improve the object visibility. Over the years, there have been significant investments in the healthcare facilities by the governments of several developed and developing nations, which are projected to augment the growth of this market during the forecast period. Further, the rising prevalence of myopia around the world is one of the major reasons fuelling the growth of this market. For instance, as per the data released by the Investigative Ophthalmology & Visual Science, the prevalence of myopia and high myopia around the world is 28.3 percent and 4.0 percent respectively.
However, the relatively high cost of orthokeratology lens as compared to the conventional lenses is projected to impede the growth of this market.
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Highlights/Summary:
The report provides a bird’s eye-view analysis of the industry trends and outlook, as well as supplies a meticulous study of all market segments. In addition, the report contains an in-depth assessment of the market drivers and challenges and also offers an exhaustive evaluation of the regional dynamics and competitive landscape of the market.
COVID-19 Impact:
With the increasing lockdown restrictions and social distancing norms due to the COVID-19 outbreak across the world, there has been a decreasing demand for orthokeratology lens in several regions of this market. Thus, this pandemic has hugely affected the growth of orthokeratology lens market.
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Market Segmentation:
On the basis of product, this market is classified into overnight ortho-k lenses and daytime ortho-k lenses. Based on end-user, the market is divided into hospitals, ophthalmology clinics, vision care centers, and others. By applications, the market is categorized into myopia, hypermetropia, astigmatism, and presbyopia. In terms of geography, the market is clubbed into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
Drivers/Restraints:
Rising Usage of Laptops and Computers Worldwide to Fuel the Market
Over the years, there has been a significant growth in the usage of laptops and computers for different purposes by the majority of the world population. This has resulted in the surging demand for orthokeratology lens across the world, which is anticipated to bolster the growth of this market.
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Regional Insights:
Increasing Prevalence of Refractive Errors to Boost the North America Market Growth
North America region is projected to dominate in the orthokeratology lens market share on account of the increasing prevalence of refractive errors and rising awareness about the usage of ortho-k lenses in this region.
Europe is anticipated to grow speedily in this market owing to the wide availability of ophthalmologists and rising prevalence of myopia in this region.
Asia Pacific region is projected to grow at a decent pace in this market due to the increasing healthcare expenditure and growing number of aging population in this region.
Competitive Landscape:
Increasing Production Capabilities to Boost Competition
The prominent companies in the orthokeratology lens market are focusing on increasing the production capabilities of these lenses due to their high demand from the healthcare industry. This has resulted in the increasing competition among key companies which will help them to widen their business operations and broaden their business horizons.
Industry Development:
January 2019: Contamac launched Optimum Infinite, a gas permeable contact lens material with a higher combination of oxygen permeability and flexural modulus.
List of Key Players Covered in the Orthokeratology Lens Market Report:
Euclid Systems Corporation, Precision Technology Services & Cardinal Contact Lens Inc., GP Specialists, Essilor, Alpha Corporation, CooperVision, Bausch & Lomb Incorporated, Paragon Vision Sciences, Brighten Optix.Co, Contamac.
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