Market Research Future (MRFR) has published a cooked research report on the “Global Corneal Cross-linking Devices Market” that contains the information from 2018 to 2030.
The global Corneal Cross-linking devices market is attributed to register a CAGR of 13.86% during the forecast period and is projected to hit USD 419.62 million by 2030.
Corneal Cross-linking (CXL) is a minimally invasive procedure that is used to slow the progression of corneal ectasias such as keratoconus and post-LASIK ectasia. It utilizes ultraviolet light and eye drops to fortify the collagen fibers in the cornea. Patients with keratoconus, a condition in which the cornea thins and weakens, are candidates for the procedure. The growth of the CXL devices market is attributed to the increasing incidence and prevalence of keratoconus disorders, improving healthcare infrastructure, and increasing product development and launches. However, lack of awareness regarding keratoconus disorders and Side effects associated with treatment is anticipated to hamper the market growth.
The global CXL devices market has been divided based on type, method, application, and end user.
The market, based on type, has been segregated into standard corneal cross-linking, corneal cross-linking plus, accelerated cross-linking.
Based on method, the CXL devices market has been divided into epithelium-off method and epithelium-on method.
On the basis of application, the market is segmented into keratoconus, pellucid marginal, degeneration, refractive surgery ectasia, and others.
Based on end user the CXL devices market has been divided into hospitals, eye clinics, and ambulatory surgical centers.
Corneal Cross-linking Devices Market Key Players
MRFR recognizes the following companies as the key players in the global corneal Cross-linking Devices Market— Glaukos Corporation (US), EMAGine AG (Switzerland), Peschke GmbH (Switzerland), IROMED GROUP Srl (Italy), iVIS Technologies (Italy), and AJL Ophthalmic S.A. (Spain).
The global Corneal Cross-linking Devices Market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe CXL comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The corneal Cross-linking Devices Market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World corneal Cross-linking Devices Market comprises of Middle East, Africa, and Latin America.
The North Americais expected to dominate with the largest market share due to factors attributed to the incidence and prevalence of keratoconus disorders are the rising geriatric population and the presence of a large number of market players in the region. Increasing incidence and prevalence of corneal cross-linking will also drive the demand for various treatment options anticipated to foster the growth of the market in this region.
Europe held a significant share in the global CXL devices market. Owing to the growing cases of keratoconus in developed countries increase the demand for the CXL devices market in Europe. Additionally, increasing prevalence and subsequent increase in the prevalence of keratoconus, advancements in medical technology, and increasing demand for CXL devices are driving the market growth in Europe.
Asia-Pacific is expected to be the fastest-growing market in preclinical CRO, owing to the growing prevalence of cases of eye disorders is driving the market growth in the Asia-Pacific region. Moreover, companies are entering into strategic initiatives to develop and commercialize new treatment options for patients further fueling the market in the Asia-Pacific region.
The Rest of the World accounted for the lowest market share in the CXLdevices market. This is attributed to less availability of funds and limited medical facilities in the region. With the increasing strategic initiatives by private and public firms, the growth rate is expected to rise in the next few years.
Key Findings of the Study