The global keratoconus treatment market has been assessed as a progressing market and is expected to grow at a CAGR of 4.1% and attain USD 427.5 Million by the end of 2023, proclaims Market Research Future (MRFR) in a minutely analyzed research report. Advancement in diagnostics and treatment options along with rising prevalence of keratoconus is the primary driver of the market growth. The government in various countries have endeavored towards raising awareness regarding the disease and provide various aids to patients suffering from keratoconus which boosts the growth of the market.
Moreover, the market players are pouring in money for the development of novel therapies for the disease which has been a plus for the market growth. Moreover, the rise in a number of approvals by the FDA for various new drugs and treatments bolsters the growth of the Keratoconus Treatment Market Growth.
Competitive Landscape
The notable players operating in the global Keratoconus Treatment Market include Bausch & Lomb Incorporated (US), CooperVision (US), Johnson & Johnson Vision Care, Inc. (US), Novartis AG (Switzerland), SAFILENS S.R.L. (Italy), CIBA VISION (US), HOYA Vision Care (Singapore), Menicon Co., Ltd. (Japan), Optik Seis (Indonesia), and others.
Segmentation
The global keratoconus treatment market has been segmented based on type, diagnosis, treatment, and end users.
By type, the market has been segmented into forme fruste keratoconus, corneal hydrops, keratoglobus, pellucid marginal degeneration, posterior keratoconus, and others.
By diagnosis, the market has been segmented into computerized corneal mapping, keratometry, slit-lamp examination, refraction test, and others. The Slit-lamp examination segment has been further segmented into tonometry, vision testing, and others.
By treatment, the market has been segmented into Lenses, Surgery, and others. Lenses segment is further segmented into eyeglasses or soft contact lenses, hard contact lenses, piggyback lenses, hybrid lenses, scleral lenses, and others. Surgery segment is further segmented into corneal inserts, cornea transplant, and others. Collagen cross-linking is still in the research process, and more study is required to implement this treatment option.
By end users, the market has been segmented into eye hospitals & clinics, medical research centers, academic institutes, and others.
Regional Analysis
The global Keratoconus Treatment market spans across the regions of the Americas, Europe, Asia Pacific, and the Middle East and Africa. The Americas dominate the global keratoconus treatment market, led by the US. Advances in technology and rapid adoption of new treatments and therapies support the growth of the market in the region. Europe follows the Americas closely and is driven by substantial investment in R&D for the development of new products. Germany is the key contributor to the Europe market. Asia Pacific is poised to emerge as the fastest growing market for the treatment of keratoconus owing to increasing awareness of the disease and high expenditure on healthcare in the region, China being the key contributor to the growth of the market. The Middle East & Africa market is expected to have limited growth over the forecast period, although the Middle Eastern countries are expected to grow significantly.
Industry Updates
In August 2018, the FDA approved the first medication to treat keratoconus, which is a rare eye disease. An Italian company can sell the drug named Oxervate in the US and has also been approved by the European Medicines Agency.
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