Orthokeratology Lens Market: Industry Demand, Analysis and Future Trends 2030

[sara James]

The global Orthokeratology Lens Market size is expected to reach USD 1.08 billion by 2030, registering a CAGR of 6.5% during the forecast years, as per a new study by Grand View Research. Increasing efforts by key manufacturers in the market to launch new products and get regulatory approvals is the key factor driving the market growth. In addition, the ever-growing burden of patients with refractive errors is also majorly contributing to the growth of the market. For instance, according to a recent study published by The International Myopia Institute in 2022, an estimated 30% of the world’s population is myopic and by 2050, almost 50% of the population will be myopic. The outbreak of the COVID-19 pandemic had a negative impact on the market.

The drop in sales of orthokeratology was due to reduced patient visits to the hospitals and clinics to comply with the restrictions and guidelines laid down by the governments to curb the spread of the virus. Moreover, the country-wise lockdowns resulted in the disruption of demand and supply chain, which negatively impacted the market growth. However, with the outbreak of the pandemic, a major shift has been observed where a large number of people are now more prone to develop refractive errors. The shift toward online school and a large number of companies opting for work-from-home is expected to increase the overall screen time of individuals, thereby contributing to the rise in refractive errors. Thus, it can be anticipated that over the forecast years, the market will undergo significant growth.

Related Press Release@ Orthokeratology Lens Market Report

Orthokeratology Lens Market Report Highlights

• Based on product type, the overnight ortho-K lenses dominated the market in terms of revenue in 2021 due to easy product availability and higher adoption rate
• Based on indications, the myopia segment held the highest market share in 2021 owing to the higher prevalence of this refractive error and the easy availability of ortho-K lenses for this indication
• The ophthalmology clinics' distribution channel segment accounted for the highest revenue share in 2021 due to the preference of patients to visit the ophthalmologists in the clinics and purchase the recommended lenses directly
• The COVID-19 pandemic had a slightly negative impact due to the reduction in patient visits to hospitals and clinics