From Diagnosis to Treatment: A Deep Dive into the Keratoconus Market
From Diagnosis to Treatment: A Deep Dive into the Keratoconus Market
Blog Article
Keratoconus is a degenerative eye condition characterized by a gradual thinning and protrusion of the cornea. If left untreated, it can progress to cause significant visual impairment or blindness.
The keratoconus market is estimated to be valued at USD 307.6 Mn in 2024 and is expected to reach USD 424.3 Mn by 2031, growing at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.
Keratoconus Market is a non-inflammatory disorder causing the cornea to thin and change its shape from a dome into a more cone-like structure. The main symptoms include blurred or distorted vision, light sensitivity, and eye rubbing. Current treatment options include eyeglasses, contact lenses, collagen cross-linking, and in advanced cases corneal transplant. Due to the increasing prevalence of keratoconus and the rising need for minimally invasive procedures, companies are focusing on developing new keratoconus treatment solutions.
Key Takeaways
Key players operating in the keratoconus market are Avedro, KeraMed, Biotissue, Allergan, Novartis, and Bausch Health. These players are investing in research activities to develop advanced keratoconus treatments.
The growing keratoconus disease burden, coupled with increasing awareness about the condition, is fueling the demand for effective treatment options across the globe.
Technological advancements in keratoconus management, such as Intacs segments, Intracor, and corneal cross-linking, are helping address the unmet needs and enhancing treatment outcomes.
Market Trends
- Hybrid contact lenses that combine scleral lenses' vaulting with small-aperture rigid gas permeable lenses are emerging as viable options for managing keratoconus progression.
- The adoption of advanced cross-linking techniques like topography-guided customized corneal cross-linking is increasing due to better visual outcomes and safety profiles.
Market Opportunities
- Development of affordable and minimally invasive implants/ devices for keratoconus correction presents significant opportunities.
- Combination therapies leveraging the synergies between contact lenses, cross-linking and pharmaceutical agents hold promise.
Impact of COVID-19 on Keratoconus Market Growth
The COVID-19 pandemic has adversely impacted the growth of global keratoconus market. The imposition of lockdowns and social distancing measures significantly disrupted the supply chain and production facilities of key players. Furthermore, allocation of healthcare resources and budgets towards management of COVID cases led to postponing of non-emergency eye care procedures including keratoconus treatments. This negatively impacted the demand for keratoconus devices and drugs.
With easing of lockdowns and travel restrictions in 2021, the market is witnessing a steady recovery. However, backlogs and delayed treatments continue to restrict completemarket recovery. Rising preference for teleophthalmology and e-pharmacy platforms are supportingthe market growth. Developments in diagnostics, minimally invasive procedures and sophisticated devices are expanding treatment access. Growing awareness drives are encouraging early diagnosis. Favorable regulatory approvals for advanced therapies and drugs hold promise.
Geographical Regions with High Keratoconus Market Value
North America accounts for the dominant share of global keratoconus marketvalue backed by high diagnosed patientbase, availability of sophisticated treatments and favorable reimbursements. The United States represents the major revenue pocket given presence of key players, high affordability andgrowing adoption rates of advanced corneal surgeries andC3-R technologies. Europe is also a significant market supported byincreased awarenesscampaigns and universal healthcare access across major countries.
Fastest Growing Geographical Region for Keratoconus Market
Asia Pacific region is poised to be the fastest growing market for keratoconus over the forecast period. This can be majorly attributedto rapidly developing economies, rising healthcare investments, growing medical tourism and improving access to novel treatment sin developing countries such as India and China. In addition, increasingdiagnosis ofkeratoconusamongyoung population due to excessive use of digital devices and lack of protective wear pose significant growth opportunities. Favorable government policies are also encouraging adoption ofadvanced keratoconus management solutions in the region.
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About Author: Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)