The Orthokeratology Market is estimated to be valued at US$ 37.6 million in 2017 and is expected to exhibit a CAGR of 7.0% over the forecast period 2018 - 2026, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Orthokeratology, also known as Ortho-k, is a non-invasive treatment for nearsightedness (myopia) that involves wearing specially designed gas permeable contact lenses overnight to reshape the cornea. The treatment provides temporary clear vision during the day without the need for glasses or contact lenses. Ortho-k is gaining popularity among individuals with mild to moderate myopia due to its ability to slow down myopia progression. The market is driven by the increasing prevalence of myopia across the globe and advancements in the design of Ortho-k lenses, making them more comfortable and effective.
Market Dynamics:
The two main drivers fueling the growth of the Orthokeratology Market are the increasing prevalence of myopia and technological advancements in Ortho-k lenses. With the rising use of electronic devices and the population's urbanization, myopia has become a global concern. This has led to a high demand for Ortho-k treatment to correct vision impairment. Furthermore, the introduction of advanced Ortho-k lenses with improved oxygen permeability, enhanced comfort, and better visual outcomes have boosted the adoption of Orthokeratology. Moreover, these lenses offer a safe and reversible alternative to surgical procedures like LASIK. These factors, along with the growing awareness and acceptance of Ortho-k, are expected to drive the market growth over the forecast period.
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SWOT Analysis:

Strengths: The orthokeratology market is expected to witness high growth with a CAGR of 7.0% over the forecast period. This can be attributed to the increasing prevalence of myopia and the growing demand for non-invasive vision correction methods. Furthermore, orthokeratology offers advantages such as improved visual acuity, reduced dependence on glasses or contact lenses, and potential myopia control in children.

Weaknesses: Despite the growth opportunities, the orthokeratology market also faces certain limitations. One weakness is the requirement for strict patient compliance, as the lenses need to be worn overnight. Additionally, orthokeratology may not be suitable for patients with certain eye conditions or those with irregular corneal shapes, limiting its applicability.

Opportunities: There are several opportunities for growth in the orthokeratology market. One opportunity lies in the expanding scope of applications, such as myopia control in children and the correction of presbyopia. Another opportunity is the untapped potential in emerging markets, where the awareness of orthokeratology is still relatively low but the prevalence of myopia is increasing.

Threats: Despite the promising prospects, the orthokeratology market also faces certain threats. One threat is the availability of alternative vision correction methods, such as LASIK surgery or refractive lenses, which may compete with orthokeratology. Another threat is the potential for adverse events or complications associated with the use of orthokeratology lenses, which may lead to safety concerns among patients and healthcare professionals.

Key Takeaways:

The global orthokeratology market is expected to witness high growth, exhibiting a CAGR of 7.0% over the forecast period. This growth is primarily driven by the increasing prevalence of myopia and the demand for non-invasive vision correction methods. In terms of regional analysis, Asia Pacific is expected to be the fastest-growing and dominating region in the orthokeratology market, largely due to the high prevalence of myopia in countries like China, South Korea, and Japan. Key players operating in the orthokeratology market include 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. These key players contribute to the market through their innovative products and strong distribution networks.

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