Global Keratoconus Treatment Market, By Keratoconus Type (Corneal Hydrops, Forme Fruste Keratoconus, Posterior Keratoconus, Keratoglobus, Pellucid Marginal Degeneration), Treatment (Lenses, Therapies, Surgery, Others), Route of Administration (Oral, Topical, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy) – Industry Trends and Forecast to 2030.
Keratoconus Treatment Market Analysis and Size
Increasing cases of eyes disorders boosts the keratoconus treatment market. Overexposure to UV-rays from the sun and also the enzyme imbalance in the cornea that increases the risk of emerging eyes disorders boost up the keratoconus treatment market growth. As per the American Journal of Ophthalmology, about 50-200 of every 100,000 people are affected with keratoconus. Major market players operating in the keratoconus treatment market are hugely investing in R&D to develop efficient solutions for keratoconus.
Data Bridge Market Research analyses a growth rate in the keratoconus treatment market in the forecast period 2023-2030. The expected CAGR of keratoconus treatment market is tend to be around 4.2% in the mentioned forecast period. The market is valued at USD 280.36 million in 2022, and it would grow upto USD 389.64 million by 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Keratoconus Treatment Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Keratoconus Type (Corneal Hydrops, Forme Fruste Keratoconus, Posterior Keratoconus, Keratoglobus, Pellucid Marginal Degeneration), Treatment (Lenses, Therapies, Surgery, Others), Route of Administration (Oral, Topical, Parenteral, Others), End-Users (Hospitals, Homecare, Specialty Clinics, Others), Distribution Channel (Hospital Pharmacy, Online Pharmacy, Retail Pharmacy)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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Sandoz International GmbH (Germany), HOYA (Japan), Menicon Co., Ltd. (Japan), The Cooper Companies, Inc. (U.S.), Bausch Health Companies Inc. (Canada), SynergEyes (U.S.), Carl Zeiss Meditec AG (Germany), Contamac (U.K.), SEED Co., Ltd (Japan), Novartis AG (Switzerland), Johnson & Johnson Services, Inc. (U.S.)
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Market Opportunities
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Market Definition
Keratoconus is a progressive type of eye disease that causes thinning of cornea and alters the cornea into dome or cone like shape. Keratoconus also changes the vision that cannot be corrected with the eye-glasses. The symptoms of keratoconus include nearsightedness, light sensitivity, blurred vision, and irregular astigmatism. Treatment for keratoconus disorder highly depends on the severity of condition and how rapidly the progression of the condition takes place. Mild to moderate keratoconus can be widely treated with contact lenses or eyeglasses.
Global Keratoconus Treatment Market Dynamics
Drivers
- Increasing Incidence of Keratoconus Disorder
There has been a rise in cases with keratoconus disorder worldwide. The increasing occurrence and incidence of keratoconus disorders also surge the demand for various treatment options such as lenses, surgeries, and corneal cross-linking. According to the American Journal of Ophthalmology records, about 50-200 of every 100,000 people are suffering from keratoconus. In the U.S., around 54.5 per 100,000 people were affected with this disease. In addition to this, around 3 million people are affected by this disease globally. Therefore, rising keratoconus cases boost the use of different treatment methods such as intacs and corneal transplants, boosting market growth.
- Rising Ultraviolet Radiations and Sun Exposure
As per the study titled “Epidemiology of Keratoconus Worldwide” by the Open Opthalmology Journal, ultraviolet radiation is considered as one of the primary causes for the development of keratoconus due to its oxidative damage. This can be demonstrated by its high occurrence of keratoconus in hot and sunny areas. Higher incidence of keratoconus has been witnessed in Saudi Arabia, Iran, New Zealand, Israel, and some Pacific Islands. This is due to the high exposure to the sun and UV rays. Therefore, ultraviolet radiations and sun exposure are most likely to cause keratoconus disorder, thus boosting the keratoconus treatment market.
Opportunities
- Increasing Product Launches and Developments
Increasing number of approvals by the FDA for numerous new drugs and treatments for keratoconus boosts the growth of the keratoconus treatment market. For instance, Bausch + Lomb received 510(k) clearance for the Tangible Hydra-PEG Custom Contact Lens Coating Technology on Boston Gas Permeable Lens Materials and Zenlens Family of Scleral Lenses in February 2019. With this coating technology, several eye care practitioners have the opportunity to improve contact lens customization for their patients using these Bausch + Lomb lens offerings. Furthermore, Bausch + Lomb announced that its Specialty Vision Products business launched the Zenlens diagnostic lenses in a new 28 lens set format in December 2016. Adding to it, the new 28 lens set adds four diagnostic lenses with toric peripheral curves. Therefore, all these advancements provide lucrative growth opportunities to the market players.
- Growing Treatment Options for Keratoconus Patients
The current treatment option, which includes cornea cross-linking, intrastromal corneal ring segments, and other combined treatments, provides the corneal clinicians a variety of treatment options for the visual rehabilitation of keratoconus patients. In patients with mild issue, eyeglasses or soft contact lenses are preferred. But as the disease evolves and the cornea thins and becomes irregular in shape, and in that case, glasses and regular soft contact lens no longer offers accurate vision correction. Some other treatment options include corneal collagen custom soft contact lenses, cross-linking or CXL, gas permeable contact lenses. Thus, this factor boosts the market growth.
Restraints/Challenges
- Lack of Awareness
Numerous eye-related problems develop very slowly and are caused because of carelessness. Some of these problems are minimal, while some need special treatments that are expensive. In highly developing regions, a large number of people do not have enough expenditure to avail treatment for these diseases. Furthermore, many of them have inadequate knowledge about such diseases that, further increases the severity. According to the National Keratoconus Foundation, keratoconus occurs in around 1 out of every 2,000 people among the general population. Keratoconus is not very common and thus there is less awareness among the public in spite of their noisome symptoms and complications. The lack of knowledge which leads to the loss in timely management of keratoconus treatments hamper the market growth.
This keratoconus treatment market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the keratoconus treatment market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Global Keratoconus Treatment Market
COVID-19 left a major impact on the market growth. Manufacturing, local business, and investment have been severely affected by social and economic factors. The COVID-19 pandemic impacted the keratoconus treatment market and its financial capability. It also affected the capability of several companies to evaluate capital, which severely impacted their short-term and long-term liquidity. For instance, the revenue of Bausch Health had declined by more than 35% in 2020 because of COVID-19. But, in the post pandemic era, the recession has been waived off, and the companies are splurging on the product launches and increased developments that boost market growth.
Global Keratoconus Treatment Market Scope
The keratoconus treatment market is segmented on the basis of keratoconus type, treatment, route of administration, end-users and distribution channel. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Keratoconus Type
- Corneal Hydrops
- Forme Fruste Keratoconus
- Posterior Keratoconus
- Keratoglobus
- Pellucid Marginal Degeneration
Treatment
- Lenses
- Therapies
- Surgery
- Others
Route of Administration
- Oral
- Topical
- Parenteral
- Others
End User
- Hospitals
- Homecare
- Specialty Clinics
- Others
Distribution Channel
- Hospital Pharmacy
- Online Pharmacy
- Retail Pharmacy
Keratoconus Treatment Market Regional Analysis/Insights
The keratoconus treatment market is analyzed and market size insights and trends are provided by keratoconus type, treatment, route of administration, end-users and distribution channel as referenced above.
The major countries covered in the keratoconus treatment market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America has been witnessing a positive growth for keratoconus treatment market throughout the forecasted period because of the focus of major market players on novel technology or formulation of existing drugs. The increased awareness and advancement in technology is also further boosting the market growth.
Asia-Pacific dominates the market because of the high incidence cases of ocular disorders and number of generic drugs and also due to high merger and acquisition activities and product approvals in the region. For instance, Hoya Corporation launched an R&D center for cataract intraocular lenses in Singapore in January 2018.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Keratoconus Treatment Market Share Analysis
The keratoconus treatment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to keratoconus treatment market
Key players operating in the keratoconus treatment market include:
- Sandoz International GmbH (Germany)
- HOYA (Japan)
- Menicon Co., Ltd. (Japan)
- The Cooper Companies, Inc. (U.S.)
- Bausch Health Companies Inc. (Canada)
- SynergEyes (U.S.)
- Carl Zeiss Meditec AG (Germany)
- Contamac (U.K.)
- SEED Co., Ltd (Japan)
- Novartis AG (Switzerland)
- Johnson & Johnson Services, Inc. (U.S.)
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