PUNE, India, July 11, 2019 /PRNewswire/ -- Myopia is one of the major reasons of visual impairment and vision loss across the world, affecting people of varied age groups. Myopia increases the risk of serious disorders namely myopic macular degeneration, glaucoma, retinal detachment and cataract which is one of the causes of visual impairment and blindness across many countries. In the recent past, many regions have shown a substantial rise in the incidences of myopia. High prevalence rates have been reported across United States, Israel, China, Europe, Australia, and other Asian countries. For instance, myopic macular degeneration (MMD) is the main reason of permanent monocular blindness in Japan and there are new cases of blindness in Shanghai that have been reported. A recent survey projected that myopia and high myopia is likely to affect 5 billion and 1 billion people, respectively, by the year 2050. This alarming data signifies the urgent need on controlling myopia. Over the years, a number of treatments have been implemented with an aim to suppress myopia, out of which, orthokeratology lens has proven to be one of the most effective procedure with least repercussions. OrthoK lenses flatten the cornea overnight while the patient is asleep, thus helps in minimizing the refractive error. This ability to control myopia is expected to boost the global orthokeratology lens market.
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Although a large number of patients are uninformed regarding the benefits of ortho-k lens, the situation is gradually changing. To combat this lack of awareness, eye specialists have started encouraging parents to consider ortho-K for myopia control over the past few years. As ortho-k has the ability to slow down myopia, it offers a solution to the impending disorder ensuring a healthier lifestyle, which is expected to further augment the global orthokeratology lens market.
The detailed research study provides qualitative and quantitative analysis of orthokeratology lens market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Orthokeratology lens Market Share in 2018, By Region
Key Findings of the Report:
In terms of revenue, global orthokeratology lens market is expected to reach US$ 2304.19 million by 2027 owing to several advantages over other alternatives for temporary vision correction.
Among the various applications, myopia holds the largest market share in 2018 and is expected to grow at a CAGR of 11.6% over the forecast period which is highest among other applications. This is due to the surge in the prevalence rates of vision impairment across different regions of the world amplifying across all age groups.
Asia Pacific region is expected to witness the highest CAGR over the forecast period owing to high occurrences across its countries including Japan and China. World Health Organization report specifies that about 600 million people in China, nearly half the population, have myopia. Four out of ten primary school students and seven out of ten senior high school or college students, are suffering from this epidemic. In August 2018, China rolled out a scheme jointly issued by the National Health Commission, the Ministry of Education, and six other departments. This scheme aims to reduce myopia rate among junior and senior high school students below 60 percent and 70 percent respectively, for six-year-olds at around 3 percent by 2030, and to reduce incidences among primary school students below 38 percent.
Some of the players operating in the orthokeratology lens market are Alpha Corporation, Bausch & Lomb Incorporated or its affiliates, Brighten Optix, Contex, E&E Optics, EUCLID, GP Specialists, Lucid Korea, Menicon, Paragon, and Procornea amongst others.
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Orthokeratology Lens Market:
- By Application
- By Point of Dispensation
- Eye Care Shops
- By Geography
- North America
- Rest of North America
- The UK
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- Asia Pacific
- New Zealand
- South Korea
- Southeast Asia
- Rest of South Asia
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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