The orthokeratology is a process that uses specially designed contact lenses to temporarily reshape outline of the cornea for reducing myopia. It is non-surgical procedure which offers various advantage of reduced risk in comparison to refractive surgery. The orthokeratology lenses is also named as corneal reshaping contact lenses or overnight contact lenses or overnight contact lenses for correcting of control myopia. They are prescribed for correcting refractive errors generally near-sightedness, astigmatism and hyperopia.
Market Dynamics- Orthokeratology Market
The orthokeratology market is anticipated to grow at CAGR of 6.59% during the forecast period of 2021-2027. The increasing prevalence of myopia is propelling growth orthokeratology market. The growing adoption of orthokeratology across the globe is also boosting growth of orthokeratology market. The increasing prevalence of myopia and high myopia is also refuelling growth of orthokeratology market. However, lack of training of practitioner is likely to hider the growth of global orthokeratology market.
COVID-19 Impact on Orthokeratology Market
The exclusive COVID-19 impact analysis report by axiom MRC provides a 3600 analysis of micro and macro-economic factors on the orthokeratology Market. In addition, complete analysis of changes on orthokeratology expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on Global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. The market is hampered by the COVID-19 the global pandemic situations as there is shutdown in many countries. The mismatch between demand and supply is also hindered the growth of orthokeratology market during the COVID-19 period.
Orthokeratology Market- Segmental Overview
The orthokeratology market is segmented into the lens type, application, distribution channel and geography.
Orthokeratology Market by Lens Type
The orthokeratology market is comprised of various lens type such as Flurosilicone acrylate, silicone acrylate, balafilcon and oprifocon A. The Flurosilicone acrylate is estimated to dominate the market in 2020. The Flurosilicone acrylate lenses are likely to have a refractive index between 1.420 and 1.460 whereas index has rarely been a factor in the choice of rigid lens material. However, manufacturers are starting to introduce lenses with higher refractive indices. The benefit of these higher index materials is the enhanced refractive effect the materials might have when used in aspheric multifocal designs.
Orthokeratology Market by Application
The various applications such as myopia, hyperopia, presbyopia and astigmatism are comprised in the orthokeratology market. The myopia is likely to dominate the market in 2020. The myopia is common vison condition in which one can see objects near to person clearly but objects farther away are blurry. It occurs when the shape of eye causes light rays to bend incorrectly. The near eye sightedness tends to run in families. The condition may develop gradually or rapidly. Treatment options may comprise glasses, contact lenses and surgery like Lasik.
Orthokeratology Market by Distribution Channel
The distribution channels such as hospital, optometry clinics and ophthalmology clinics are comprised in the orthokeratology market. The hospital is expected to dominate the market in 2020. The growing patient footfall is propelling growth of orthokeratology market. The growing number of multi-speciality hospitals is also boosting growth of orthokeratology market. The growing prevalence of myopia is also refuelling growth of orthokeratology market.
Orthokeratology Market by Geography
The orthokeratology market is studied for key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. The North America is estimated to dominate the market in 2020. The growing development of healthcare infrastructure is propelling growth of orthokeratology market. The growing adoption of orthokeratology is also boosting growth of orthokeratology market. The rising focus on early diagnosis is propelling growth of orthokeratology market.
Key Players in Orthokeratology Market
The key competitors of the market are Autek China, Alpha Corporation, Bausch And Lomb Inc., Euclid Systems, E & E Optics, Essilor International S.A., Gp Specialists, Paragon Vision Sciences, Procornea and Taiwan Macro Vision Corporation among others.
Key Developments in Orthokeratology Market
May 2021: The Euclid Systems announced the launch of oversight orthokeratology lens Euclid Max. Used in children and adult patient with progressive myopia but specially in children. Ortho-K contact lenses gently reshape the cornea to manage myopia while patient sleeps.
May 2021: Johnson and Johnson announced that the FDA approved Acuvue ortho-K lenses which are designed to help manage myopia.
April 2021: The CooperVision acquired No. 7 contact lenses and joins the recent acquisitions of GP Specialist and Blanchard contact lenses. Furthermore, the company partnered with Essilor for creating a 50-50 joint venture in the acquisition of SightGlass. SightGlass develops spectacle lenses for reducing myopia progression in children.