Global Keratoconus Treatment Market - 2023-2030

Global Keratoconus Treatment Market - 2023-2030

The global Keratoconus Treatment market reached US$ 0.5 billion in 2022 and is expected to reach US$ 0.6 billion by 2030, exhibiting a CAGR of 3.9% during the forecast period (2023-2030).

Keratoconus is an eyesight condition that transpires when the commonly round cornea becomes thin and uneven (cone) shaped, preventing the light penetrating the eye from being concentrated accurately on the retina and causing contortion of vision. Usually, keratoconus appears in both eyes and affects the central cornea with the peak of the cone just under the visual axis. Roughly 50 to 200 of every 100,000 individuals are afflicted with keratoconus.

The growing cases of eye-related problems, increasing research initiatives, market developments such as collaborations, product approvals, and other; research activities, and technological advancements among other factors are expected to boost the global Keratoconus Treatment market growth in the forecast period.

Dynamics

Increasing Market Developments Drive the Growth of the Keratoconus Treatment Market.

Increasing market developments are expected to boost the global keratoconus treatment market growth in the forecast period. For instance, in August 2022, Glaukos, ophthalmic medical technology, and pharmaceutical corporation that concentrated on novel treatments for the therapy of corneal disorders, glaucoma, and retinal disorders constituted a strategic licensing contract with iVeena Delivery Systems, a privately held, clinical-stage ophthalmology corporation designing non-surgical, non-invasive, pharmacologic innovations giving Glaukos a sole global consent to design and commercialize IVMED-80 for the therapy of keratoconus.

Moreover, in July 2023, Bausch + Lomb, an eye health products corporation acquired the Blink over-the-counter (OTC) line of eye drops from Johnson & Johnson Vision, a subsidiary of Johnson & Johnson for the decided cost of USD 106.5 million. This most current acquisition adds to the corporation’s affirmation to persist in increasing customer comfort with OTC eye care developments.

The Increasing initiatives to support the keratoconus treatment are Expected to Present the Global Keratoconus Treatment Market With Growth Opportunities.

The increasing initiatives to support the keratoconus treatment are expected to present the global keratoconus treatment market with prospective growth opportunities in the forthcoming years. For instance, the global Keratoconus Education Initiative provides you with everything you need to know to treat keratoconus in your practice including, the Keratoconus eResource- a comprehensive guide to the modern Management of Keratoconus, webinar on identifying and managing keratoconus in clinical practice.

The Lack of Awareness is Estimated to Hamper the Global Keratoconus Treatment Market During the Forecast Period.

The lack of awareness is estimated expected to hamper the global keratoconus treatment market growth. For instance, numerous eye-related issues grow very gradually and are induced because of negligence. Some of these concerns are tiniest, while some require certain therapies that are costly. In thoroughly evolving regions, a considerable number of individuals do not have sufficient money to opt for therapy for these conditions. Again, a majority of them have an insufficient understanding regarding such conditions that, additionally advance the harshness.

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Segment Analysis

The global keratoconus treatment market is segmented based on type, treatment type, end-users, and region.

The Surgical Treatment Type Segment of Keratoconus Treatment is Estimated to Dominate the Global Keratoconus Treatment Market.

The surgical treatment type segment of the keratoconus treatment is expected to hold around 27.8% of the global market share owing to the increasing research activities. For instance, in January 2023, Glaukos, ophthalmic medical technology, and pharmaceutical corporation that concentrated on novel treatments for the therapy of corneal disorders, glaucoma, and retinal disorders declared the positive outcomes for a forthcoming, multi-center clinical investigation devised to assess the safeness of the surgical exchange approach for travoprost intraocular implant in individuals who had already obtained a travoprost intraocular implant in the Phase 2b clinical trial, also called the exchange trial.

Furthermore, the increasing initiatives in the surgical treatment type also contribute to segment growth. For instance, in April 2023, Michael W. Belin, MD, CMO of CXL Ophthalmics, Inc., a clinical-stage corporation designing a minimally invasive keratoconus therapy, is expected to provide the Plenary Session at the first International Keratoconus Academy (IKA) Symposium. The meeting is expected to get joint optometrists, ophthalmologists, and industry professionals curious about the administration and therapy of keratoconus.

Ggeographical Penetration

North America is estimated to hold Approximately 38.3% of the Market Share by 2030, Owing to Market Developments in this Region.

Owing to the increasing market developments in the North American region, it is estimated to dominate the global market holding around 38.3% of the market by 2030. For instance, For instance, in November 2022, CooperVision added SynergEyes to its CooperVision professional eye care industry segment, intensifying its promise to promote the usage of professional contact lenses in North America and almost the globe. The mixed lens approaches and trademarks presented by the Carlsbad, California-based corporation cover the therapy of uneven cornea, presbyopia, and astigmatism.

Furthermore, the increasing research activities on keratoconus also contribute to the regional market growth in the forecast period. For instance, the investigators at the North Texas Eye Research Institute recognized, separated, and characterized tear EVs (tEVs) in keratoconus patients and discovered that they have a different phenotype corresponding to their healthy counterparts. In the investigation, 10 healthy subjects and nine keratoconus-diagnosed individuals were analyzed. Men with eye disorders were also discovered to have more elevated total counts of tEVs than females.

Competitive Landscape

The major global players in the keratoconus treatment market include Sandoz International GmbH, HOYA, Menicon Co., Ltd., The Cooper Companies, Inc., Bausch Health Companies Inc., SynergEyes, Carl Zeiss Meditec AG, Contamac, SEED Co., Ltd, Novartis AG, and Johnson & Johnson Services, Inc., among others.

COVID-19 Impact Analysis

Russia-Ukraine Conflict Analysis

The Russia-Ukraine conflict is assumed to have had a moderate impact on the global keratoconus treatment market, as during the 3 months of full-scale warfare, Russians sabotaged over 600 infirmaries and massacred at least 12 medics. Access to health care is majorly affected because of security considerations, limited mobility, damaged supply chains, and mass population eviction. Also, the lack of primary market players in this region. In addition to it, the significance of the import and export of fundamental materials are expected to slightly impact the global Keratoconus Treatment market growth in the forecast period.

By Type
• Corneal Hydrops
• Forme Fruste Keratoconus
• Posterior Keratoconus
• Keratoglobus
• Pellucid Marginal Degeneration

By Treatment Type
• Lenses
• Therapies
• Surgery
• Others

By End-Users
• Hospitals
• Homecare
• Specialty Clinics
• Others

By Region
• North America
U.S.
Canada
Mexico
• Europe
Germany
U.K.
France
Spain
Italy
Rest of Europe
• South America
Brazil
Argentina
Rest of South America
• Asia-Pacific
China
India
Japan
Australia
Rest of Asia-Pacific
• Middle East and Africa

Key Developments
• In May 2023, Menicon Co., Ltd. declared that Itabashi Medical (Dalian) Co., Ltd., a Chinese affiliate, launched ""ROSE K"" in China in April 2023. A hard contact lens for keratoconus individuals is called ROSE K.
• In September 2022, CXL Ophthalmics, Inc., a clinical-stage corporation designing a minimally-invasive treatment for keratoconus, declared positive outcomes of the EpiSmart cross-linking Phase 2 study for keratoconus in Cornea.
• In September 2022, CXL Ophthalmics, Inc., a clinical-stage corporation designing a minimally-invasive treatment for keratoconus, secured a $32 million Series A funding round led by AXA IM Alts through its Global Health Private Equity approach plus a syndicate of individual investors, including leading cornea specialists.

Why Purchase the Report?
• To visualize the global keratoconus treatment market segmentation based on type, treatment type, end-users, and region and understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous keratoconus treatment market-level data points with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available in excel consisting of key products of all the major players.

The global keratoconus treatment market report would provide approximately 53 tables, 54 figures, and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies