Orthokeratology Market Is Estimated To Witness High Growth Owing To Increasing Demand for Non-Invasive Vision Correction Techniques.

Pharmaceuticals
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The global 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 vision correction technique that uses specially designed gas permeable contact lenses to temporarily reshape the curvature of the cornea to improve vision. The main advantage of orthokeratology is that it provides clear vision without the need for eyeglasses or daytime contact lenses. This makes it an attractive option for individuals who engage in sports or have active lifestyles. Moreover, ortho-K can also slow down the progression of myopia in children, reducing the risk of developing high myopia and related eye conditions.

Market key trends:
A key trend driving the growth of the Orthokeratology Market is the increasing demand for non-invasive vision correction techniques. Many individuals are seeking alternatives to conventional eyeglasses and contact lenses, as they can be cumbersome and uncomfortable. Orthokeratology provides a convenient and safe solution, offering clear vision without the need for surgery or daily lens wear. Additionally, advancements in technology have led to the development of more effective orthokeratology lenses, further driving the market growth.

Overall, the orthokeratology market is expected to witness high growth due to the increasing demand for non-invasive vision correction techniques. The market players in this industry 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.

PEST Analysis:

Political: The political factors influencing the orthokeratology market include government regulations and policies related to healthcare and medical devices. For example, changes in regulations regarding the approval and marketing of orthokeratology products may impact the growth of the market.

Economic: The economic factors affecting the orthokeratology market include the overall economic growth and disposable income of consumers. As the global economy continues to grow, more people are likely to have the financial capacity to afford orthokeratology treatment, which can drive market growth.

Social: The social factors influencing the orthokeratology market include the awareness and acceptance of orthokeratology as a viable option for vision correction. As more people become aware of the benefits of orthokeratology and its non-invasive nature, the demand for such treatments is likely to increase.

Technological: The technological factors affecting the orthokeratology market include advancements in lens manufacturing and design. With the introduction of advanced materials and technologies, such as computer-aided design and computer-aided manufacturing (CAD/CAM), orthokeratology lenses are becoming more precise and comfortable for patients.

Key Takeaways:

Market Size: The global orthokeratology market is expected to witness high growth, exhibiting a compound annual growth rate (CAGR) of 7.0% over the forecast period (2018-2026). This growth can be attributed to increasing awareness among consumers about orthokeratology as a non-invasive vision correction option and the rising disposable income in developing countries.

Regional Analysis: Asia Pacific is the fastest-growing and dominating region in the orthokeratology market. The region's growth can be attributed to the increasing prevalence of myopia among the population, especially in countries like China and India. Additionally, advancements in technology and a large consumer base in the region are driving the market growth.

Key Players: 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 companies are focusing on product innovation and strategic partnerships to strengthen their market position and cater to the growing demand for orthokeratology products.