Orthokeratology Market Five Years Forecast Skeleton With Key Companies Autek China, Alpha Corporation, Bausch and Lomb Inc., Euclid Systems, E & E Optics, Essilor International

The global orthokeratology market size was valued at US$ 37.6 million in 2017, and is expected to witness a CAGR of 7.0% over the forecast period (2018 – 2026).

The prevalence of myopia and high myopia is increasing worldwide at a significant rate. Myopia is a major public health concern and high myopia is ranked second, as the leading cause of visual impairment worldwide. According to the National Center for Biotechnology Information (NCBI) 2016 report, in East Asia, nearly 50% of urban population suffered from myopia and the prevalence among students was around 90%.

Moreover, onset of visual complications from myopia occurs earlier than other causes of blindness such as cataract and thus its impact on quality of life is also observed earlier. According to the Eye Contact Lens journal 2018 study, the economic burden of eye diseases in the U.S. is around US$ 139 billion, with nearly US$ 16 billion spent on myopia correction alone. Therefore, methods for preventing myopia and controlling its progression have high demand across the globe.

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Moreover, prolong usage of laptops, smartphones, and tablets is causing digital eye strain leading to permanent eye damage among kids and young population. Young people whose nearsightedness is progressively increasing are the most suitable candidates for orthokeratology. All these factors are collectively increasing the demand for ortho-K eventually driving the orthokeratology market growth.

Orthokeratology Market - Regional Insights

On the basis of region, the global orthokeratology market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Europe is expected to generate a significant revenue share in global orthokeratology market in 2026, owing to increasing burden of short-sightedness among the regional population. According to a study published by Ulster University in 2015, rate of short-sightedness in the U.K. has doubled over the past 50 years, as children no longer spend enough time outdoors. Moreover, around 23% of teens suffer from myopia in the country.

Rapid increase of childhood myopia in Asia population is the major factor propelling demand for orthokeratology in the region. According to the Lancet Journal 2012 data, high myopia affects nearly 20% of secondary school children in East Asia and is associated with sight-threatening irreversible pathologies. According to a 2016, study published by National Center for Biotechnology Information (NCBI), the prevalence of myopia is highest in East Asia, as 50% myopic people live in Japan, China, Singapore and the Republic of Korea.

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This release was published on openPR.