Keratoconus Treatment Market: Information by Keratoconus Type (Corneal Hydrops, Forme Fruste Keratoconus, Posterior Keratoconus, Keratoglobus, Pellucid Marginal Degeneration), Treatment Type (Lenses, Surgery, Corneal Cross-Linking), End User (Eye Clinics, Hospitals), and Region(Americas, Europe, Asia-Pacific, and Middle East & Africa)—Forecast till 2027

Keratoconus treatment Market Forecast:

The keratoconus treatment market was valued at USD 358.55 million in 2019 and is expected to register a CAGR of 4.72% during the forecast period of 2020 to 2027.

Market Overview:

Keratoconus is a progressive eye condition in which the cornea, usually round and small, appears cone-like. Keratoconus frequently has to do with light overexposure, constant eye rubbing, improperly fitting contact lenses, and chronic eye irritation. Keratoconus care depends on the seriousness of the disease and how easily the condition progresses.

The keratoconus treatment market is mainly driven by the increasing incidence of keratoconus disorders, increasing ultraviolet and sun exposure, and favorable government funding research and prevention programs of ophthalmic disorders. According to the American Journal of Ophthalmology, around 50-200 of every 100,000 people are afflicted with keratoconus. In addition, ultraviolet is regarded as one of the main causes for the development of keratoconus because of its oxidative damage. Thus, a higher prevalence of keratoconus has been identified in Saudi Arabia, Iran, New Zealand, Israel, and some Pacific Islands due to the high ultraviolet exposure.

COVID-19 Analysis:

COVID-19 has negatively impacted the global economy, shrinking it to up to 1% in 2020. As per the United Nations, the COVID-19 pandemic adversely affected the FDI flows. Manufacturing, local business, and investment have been badly affected by far-reaching social and economic repercussions. The COVID-19 crisis is primarily a public health threat.However, it is also a rising global threat. Itis a major cause of recession in some countries as well as a warning for a declining global annual growth rate to below 2.5%, which is often considered as the recessionary threshold for the world economy.Furthermore,the COVID-19 pandemic impacted the keratoconus treatment market and its financial capability. It also affected the ability of many companies to access capital, which severely impacted their short-term and long-term liquidity. For instance, the revenue of Bausch Health, best known for its contact lenses and branded generic drugs, had declined by more than 35% in 2020 due to COVID-19. The company estimated that a recession that persists through late Q3 or early Q4 2020 could reduce the company’s revenues by 15% from USD 8.6 billion in 2019 to USD 7.3 billion in 2020.

Market Dynamics:

Market Drivers

• Increasing incidence and prevalence of the keratoconus disorders

There has been an increase in cases with keratoconus disorder globally. The rising incidence and prevalence of keratoconus disorders also increase the demand for various treatment options such as lenses, surgeries, and corneal cross-linking. According to the American Journal of Ophthalmology, around 50-200 of every 100,000 people are afflicted with keratoconus. In the US, a study found a prevalence of 54.5 per 100,000 people. In addition, approximately 3 million people are affected by this disease worldwide. Thus, increasing keratoconus cases drive the use of different treatment methods such as intacs and corneal transplants, which drive the growth of this market.

• Increasing ultraviolet and sun exposure


• Favorable government funding

Market Restraints

• Lack of awareness

Many eye-related problems develop very slowly and are caused due to carelessness. Some of these problems are minor, while some need special treatments, which are expensive. In developing regions, a large number of people do not have enough capital to avail treatment for these diseases. Also, many of them have insufficient knowledge about such diseases, which increases the severity. As per the National Keratoconus Foundation, keratoconus occurs in about 1 out of every 2,000 people among the general population. It has been found that due to a lack of awareness and misdiagnosis, people become blind for a lifetime. It is reported that keratoconus is not considered a serious eye disease. Hence, there is less awareness among the public despite their noisome symptoms and complications. The lack of knowledge leading to the loss in timely management of keratoconus treatments is likely to hamper the market growth.

• Side-effects of keratoconus treatment

Market Opportunities

• Emerging markets of keratoconus treatment

Keratoconus has become a health problem across the globe that affects the quality of life. It is reported that generally, 50–200 of every 100,000 people are afflicted with keratoconus. In addition, keratoconus has greater disease progression in certain non-Asian ethnicities and Asians, particularly Indians, Pakistanis, Middle Easterners, and Polynesians, compared with the white population. Moreover, rising healthcare infrastructure in emerging countries further provides significant growth opportunities for the market. For instance, in Saudi Arabia, the number of keratoplasties performed for keratoconus patients has risen melodramatically. In 1983, keratoconus was the fourth-leading cause of keratoplasty, and 7.6% of keratoplasties surgeries were performed.By 2016, it was the leading cause of disease, and 48.2% of keratoplasties surgeries were performed. Thus, emerging markets of keratoconus treatment provide lucrative growth opportunities to the market players.

Keratoconus Treatment Market Share (%), by Keratoconus Type, 2019

Source: MRFR Analysis

Value Chain Analysis / Technology Analysis / Regulatory Implications

The value chain analysis for the keratoconus treatment industry comprises four major components, starting with the research & product development, followed by the manufacturing of the products, distribution, and ends with marketing & sales.The key market players focuson expanding the product portfolios through innovations in their current portfolio and acquisitions. For instance, in January 2019, SynergEyes (US)announced the launch of the SimplifEyes 1Day daily disposable lens.

Segment Overview

The keratoconus treatment market has been divided based on keratoconus type, treatment type, and end user.

By Keratoconus Type

• Corneal hydrops

Corneal hydrops is a type of advanced keratoconus characterized by the sudden inception of severe corneal opacification because of edema. The edema occurs from a spontaneous break in the Descemet's membrane because of the weakened cornea, leading to a painful low in visual acuity. Corneal hydrops management includes hypertonic sodium chloride to prevent epithelial edema and cycloplegia for comfort.

• Forme fruste keratoconus

Forme fruste keratoconus can be defined as a cornea with no abnormal findings byPlacido-based corneal topography and slit-lamp examinations and with the fellow eye of clinical keratoconus.

• Posterior keratoconus

Posterior keratoconus is a non-progressive corneal and rare. This type of disease is also known as keratoconus posticus. It is characterized by the thinning of the posterior cornea without ectasia of the anterior cornea. It represents corneal opacity and is generally considered a developmental abnormality.However, it can also be acquired after ocular trauma.

• Keratoglobus

Keratoglobus is a type of rare non-inflammatory corneal thinning disorder that is characterized by generalized thinning and globular ectasis (protrusion) of the cornea. The non-inflammatory corneal ectasias are a group of disorders characterized by corneal thinning, protrusion, and scarring.

• Pellucid marginal degeneration

Pellucid marginal corneal degeneration is a non-inflammatory bilateral corneal ectasia, most frequently include the inferior peripheral cornea in a crescentic pattern.

• Others

Others include nipple cone, oval cone, globus cone, and others. A nipple cone is a small, isolated area of bulging at the center of the cornea.

By Treatment Type

• Corneal Cross-linking

This procedure, also known as corneal collagen cross-linking or CXL, strengthens corneal tissue to halt bulging of the eye's surface in keratoconus. There are two versions of corneal cross-linking: epithelium-off and epithelium-on.

• Lenses

Patient vision depends on the severity of keratoconus. Mild to moderate keratoconus can be treated with contact lenses or eyeglasses. There are many types of lenses, such as custom soft contact lenses, gas permeable contact lenses, piggyback contact lenses, and hybrid contact lenses, which are used to treat keratoconus.

• Surgery

Surgery is performed in case of extreme thinning of the patient's cornea, corneal scarring, poor vision with the strongest prescription lenses, or an inability to wear any type of contact lenses. Depending on the location of the bulging cone and the severity of your condition, surgical options include penetrating keratoplasty and deep anterior lamellar keratoplasty (DALK).

• Other

Others include topography-guided photorefractive keratectomy (PRK), conductive keratoplasty, excimer laser, and superficial keratectomy (SK).

By End User

• Eye Clinics

Eye clinics are a prime place where most advanced eye procedures are conducted. The ophthalmologist suggests the right treatment consultation to the patients on the basis of the disease condition.

• Hospitals

A hospital is a health care institution providing patients specialized eye treatment with advanced medical equipment. Hospitals offer several types of surgical eye treatments, such as penetrating keratoplasty and deep anterior lamellar keratoplasty, and corneal collagen cross-linking. The availability of high proficient medical staff and advanced technological treatment facilities increase the patient flow in hospitals.

• Others

Others include academic institutes and medical research centers. These are providing advanced treatment options for keratoconus disorders.

Keratoconus TreatmentMarket Share (%), by Region, 2019

Source: MRFR Analysis

Regional Analysis:

The Keratoconus Treatment market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and Middle East & Africa.

Americas:

The Americas is likely to command the largest market share due to a well-developed healthcare sector, well-developed medical facilities, and ongoing technological advancements in the US. Additionally, a high number of cataract surgeries, mergers & acquisitions, and product launches in this region. As per the American Journal of Ophthalmology, around 50-200 of every 100,000 people are afflicted with keratoconus. In the US, a study found the prevalence of keratoconus in 54.5 per 100,000 people.

Europe:

Europe held a substantial share of the keratoconus treatment market. This can be attributed to the increasing support from the government, the well-developed medical industry in the region, and the growing cases of keratoconus. Availability of advanced diagnostic and therapeutic options is also playing an important role in the growth of this market.

Asia-Pacific:

Asia-Pacific is estimated to be the fastest-growing regional market due to the high merger and acquisition activities and product approvals in the region. For instance, In January 2018, Hoya Corporation opened an R&D center for cataract intraocular lenses in Singapore.

Middle East & Africa:

The keratoconus treatment market in Middle East & Africa is expected to witness steady growth during the review period. In the Middle East, the adoption rate of newer diagnostic instruments was high in South Africa, the UAE, and Saudi Arabia. With the increasing strategic initiatives by private and public firms and organizations, the growth rate is expected to rise in the next few years.

Competitive Landscape

The keratoconus treatment market is growing steadily due to the increasing incidences of keratoconus disorders. Increasing ultraviolet and sun exposure are also expected to drive the growth of the market. However, lack of awareness and side effects of keratoconus treatment are expected to hamper the growth of the market during the forecast period. Key players focus on merger and acquisition strategies that help them increase their revenue and product portfolio. For instance, in April 2018, Seed Co Limited acquired the optical manufacturer Contact Lens Precision Laboratories (CLPL), which owns UltraVision and Kerasoft brands. CLPL produces specialty and custom contact lenses and sells to more than 40 countries globally.

List of Key Companies Covered in this report:

1. HOYA Vision Care Company (Japan) 2. Menicon Co., Ltd. (Japan) 3. Cooper Companies, Inc. (US) 4. Bausch Health (Canada) 5. SynergEyes (US) 6. Carl Zeiss Meditec AG (Germany) 7. Contamac (UK) 8. SEED Co., Ltd (Japan) 9. Novartis AG (Switzerland) 10. Johnson & Johnson Services, Inc. (US)

Recent Developments

•  In December 2020, SynergEyes (US) announced the launch of the new, improved RxConnect Portal. The portal has been upgraded and updated to make the use of RxConnect easier than ever for SynergEyes customers.


•  In April 2019, Novartis (Switzerland) announced the completion of the spin-off of its eyecare unit Alcon into a standalone entity after a strategic review concluded that spinning off the business would be consistent with Novartis' strategy of focusing as a medicines company.


•  In September 2020, ZEISS Vision Care US, a subsidiary of Carl Zeiss Meditec AG (Germany), recently announced the launch of the ZEISS UVClean technology, an optometry-specific UV-C disinfecting device designed especially for eyecare professionals and developed in conjunction with Voxelight, LLC. ZEISS UVClean is now available for pre-ordering on a first-come-first-serve basis to eye care professionals in the US and Canada.

Report Overview:

The study covers the existing short-term and long-term market effects, helping decision-makers to draught short-term and long-term plans for businesses by region. The report covers major regions in the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The report analyzes market drivers, restraints, opportunities, challenges, Porter's five forces, value chain, and impact of COVID-19 on the market.

Scope of the Report & Segmentation

Keratoconus treatment Market, by Keratoconus Type

• Corneal Hydrops


• Forme Fruste Keratoconus Posterior Keratoconus


• Keratoglobus


• Pellucid Marginal Degeneration


• Others

Keratoconus treatment Market, by Treatment Type

• Corneal Cross-Linking


• Lenses




• Soft Contact Lenses


• Gas Permeable Contact Lenses


• Scleral and Semi-Scleral Lenses


• Piggybacking Contact Lenses


• Hybrid Contact Lenses


• Prosthetic Lenses


• Others




• Surgery




• Corneal Transplant


• Intacs


• Others




• Others

Keratoconus treatment Market, by End User

• Eye Clinics


• Hospitals


• Others

Keratoconus treatment Market, by Region

• Americas




• North America




• US


• Canada


• Latin America






• Europe




• Western Europe




• Germany


• France


• UK


• Italy


• Spain


• Rest of Western Europe




• Eastern Europe




• Asia-Pacific




• China


• India


• Japan


• South Korea


• Australia


• Rest of Asia-Pacific




• Middle East & Africa




• Middle East


• Africa