The orthokeratology lens market size was valued at USD 869.6 million in 2023 and is expected to be worth USD 990.6 million in 2024. The market is projected to reach USD 3,987.3 million by 2032, recording a CAGR of 19.0% during the forecast period.

Orthokeratology lens, also known as OK lens, is a specialized gas permeable contact lens made for eliminating various refractive errors by reshaping the patient’s cornea. This type of lens is suitable for all ages and can be worn overnight so that patients can avoid wearing spectacles or contact lenses during daytime. The growing prevalence of myopia, hyperopia, and other refractive errors will fuel the adoption of these lenses.

The COVID-19 pandemic had a negative impact on the market as the number of customers visiting optometrist clinics for regular checkups decreased considerably during this period.

Fortune Business Insights™ displays this information in a report titled, “Orthokeratology Lens Market, 2024-2032.”

Segmentation:

Overnight OK Lenses Gained Major Traction Due to Technological Advancements

Based on type, the market is segmented into overnight ortho-K lens and daytime ortho-K lens. The overnight ortho-K lens segment dominated the global orthokeratology lens market share in 2023 as the materials used for making these lenses are undergoing technological advancements.

Product Use to Rise in Children Due to Effectiveness in Curing Myopia

Based on age group, the market is divided into children and adults. The children segment is expected to dominate the market as these lenses are known to be effective in curing myopia in children.

Increasing Prevalence of Myopia to Fuel Product Adoption

Based on application, the market is split into myopia, astigmatism, and others. The myopia segment is expected to dominate the market owing to the rising incidence of this condition among the elderly and children.

Increasing Prescription of Ortho-K Lenses to Boost Patient Footfall at Optometrist Offices

Based on end-user, the market is segmented into optometrist offices, hospitals & ophthalmology clinics, and others. The optometrist offices segment is predicted to lead the market’s growth as an increasing number of optometrists are prescribing ortho-K lenses to their patients to combat a wide range of refractive errors.

With respect to region, the market covers North America, Europe, Asia Pacific, and the rest of the world.

Report Coverage:

The report has conducted a detailed study of the market and highlighted several critical areas, such as leading end-users, applications, and key market players. It has also focused on the latest market trends and the key industry developments. Apart from the aforementioned factors, the report has given information on many other factors that have helped the market grow.

Drivers and Restraints:

Increasing Incidence of Refractive Errors to Boost Product Adoption

The incidence of refractive errors, such as hyperopia, myopia, and astigmatism is rising among both adults and children across the world due to factors, such as increased screen time. This scenario has skyrocketed the demand for orthokeratology lenses due to the various benefits they offer, such as high convenience and minimal-to-no side effects.

However, orthokeratology lenses are quite costly, which can dissuade patients from buying them, thus stifling the orthokeratology lens market growth.

Regional Insights:

Asia Pacific Dominated Global Market Due to Rising Product Use to Combat Myopia

Asia Pacific dominated the global market in 2023 due to the increasing use of orthokeratology lenses in China and Japan to combat the increasing prevalence of myopia. Moreover, the awareness regarding the benefits of these lenses is also rising across the region, which will further boost the product’s use.

North America is predicted to record robust growth during the forecast period due to the rising number of mergers and acquisitions among market players to increase their geographical presence.

Competitive Landscape:

The Cooper Companies Inc. Dominates Market Due to Efforts to Expand Product Portfolio

The global market is highly consolidated as a few leading companies are leading its growth. The Cooper Companies Inc. is dominating this market as it is increasing its efforts to widen its product portfolio by launching new products. The new launches will help the company cater to the ever-growing global demand for orthokeratology lenses.

Notable Industry Development:

September 2022 – Johnson & Johnson Services Inc. obtained approval from the U.S. FDA for its ACUVUE Abiliti Overnight Therapeutic Lenses for an expanded range of up to 6.00 diopters, which was previously around 4.00 diopters.

LIST OF KEY COMPANIES PROFILED IN THE REPORT:

  • The Cooper Companies Inc. (U.S.)
  • Menicon Co., Ltd. (Japan)
  • Euclid Vision Corporation (U.S.)
  • Bausch & Lomb Incorporated (Canada)
  • Johnson & Johnson Services, Inc. (U.S.)
  • Brighten Optix.Co (China)
  • TruForm Optics Inc. (U.S.)
  • Art Optical Contact Lens, Inc. (U.S.)

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