Keratoconus Treatment Market Size, Share & Trends Analysis Report By Type (Nipple Cone Keratoconus, Oval Cone Keratoconus, Forme Fruste Keratoconus, Keratoglobus Keratoconus, Others), By Treatment Type (Corneal Cross - linking, Lenses, Others), By End User (Hospitals, Eye Clinics, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2024-2032

Keratoconus Treatment Market Size & Trends

The global keratoconus treatment market size was valued at USD 548.54 million in 2023 and is expected to reach from USD 566.91 million in 2024 to USD 818.77 million in 2032, growing at a CAGR of 4.7% over the forecast period (2024-2032).

Highlights

• The oval cone keratoconus segment is the highest contributor to the market by type, accounting for 43.67% of the market share in 2023.
• The contact lenses segment is the highest contributor to the market by treatment type, holding over 54.59% of the market share in 2023.
• The eye clinic segment is the highest contributor to the market by end users, representing over 52.72% of the market share in 2023.
• Asia-Pacific is the most significant revenue contributor by region. 

Keratoconus is a progressive eye disease that thins the cornea and transforms it into a dome or cone-like shape. Keratoconus causes vision changes that cannot be corrected with eyeglasses. Keratoconus is characterized by nearsightedness, sensitivity to light, blurred vision, and irregular astigmatism. Treatment for keratoconus disorder highly depends on the severity of the condition and the rate of its progression. Treatment options for mild to moderate keratoconus include contact lenses and eyeglasses. As more individuals are diagnosed with keratoconus, the international market for keratoconus treatments is expanding at a breakneck pace. There is a high likelihood that an increase in sun and ultraviolet radiation exposure will contribute to the expansion of this industry. 

Keratoconus Treatment Market Growth Factor

Increasing ultraviolet and sun exposure

Keratoconus is thought to be caused partly by ultraviolet light because of the oxidative damage it causes. This is demonstrated by the fact that it is widespread in places with a lot of heat and sunshine. It is hypothesized that exposure to UV light will result in an abnormally high production of reactive oxygen species within the cornea and that individuals affected by keratoconus cannot process these additional reactive oxygen species, ultimately resulting in oxidative stress, cytotoxicity, and a reduction in corneal thickness. Saudi Arabia, Iran, New Zealand, Israel, and certain Pacific Islands have been found to have a higher prevalence of the eye condition known as keratoconus because of the high levels of ultraviolet radiation. Therefore, increasing ultraviolet and sun exposure are also resulting in the development of keratoconus, which positively impacts the demand for treatment for keratoconus and also provides companies with encouragement for the development of new therapeutics and other advanced treatment methods.

Market Restraint

Insufficient consciousness

Many issues affecting the eyes develop gradually and are brought on by carelessness. Most of these issues are unimportant, but a few require specialized care, which can be pricey. In countries that are still underdeveloped, a significant percentage of people do not have sufficient financial resources to obtain treatment for these disorders. Additionally, many individuals have a limited understanding of such disorders, contributing to the severity of the conditions.

According to the National Keratoconus Foundation, Keratoconus affects approximately one person out of every two thousand persons in the general population. It has been discovered that in the long term, people become blind due to a lack of awareness, which might lead to a misdiagnosis. According to some reports, keratoconus is not regarded as a hazardous eye condition. There is less awareness among the general population despite the bothersome symptoms and problems associated with these conditions because of this. The market expansion will probably be hampered by the need for more awareness regarding ocular keratoconus therapies, leading to a time management loss.

Keratoconus Treatment Market Opportunities

Emerging markets of keratoconus treatment

Keratoconus has emerged as a significant public health issue that has an impact on people's lives all over the world. It is estimated that between fifty and two hundred out of every one hundred thousand persons suffer from keratoconus. A wide variety of therapy options available on the market can adequately control keratoconus illness. Patients are increasingly turning to various contact lenses, including soft contact lenses, piggybacking contact lenses, hybrid contact lenses, and others, for treating keratoconus. In addition, treatments for keratoconus, such as Intacs and corneal transplants, have made significant headway in the market in recent years.

Compared with white populations, people of various non-Asian ethnicities and Asia, particularly Indians, Pakistanis, Middle Easterners, and Polynesians, have a more significant risk of developing keratoconus and a faster rate of disease progression. In addition, developing nations are seeing an improvement in their healthcare infrastructure. For instance, in Saudi Arabia, the frequency of keratoplasties in patients suffering from keratoconus has skyrocketed in recent years.

Regional Insights

The global keratoconus treatment market share is bifurcated into four regions: North America, Europe, Asia-Pacific, and LAMEA.

Asia-pacific dominates the global market

Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 5.7% during the forecast period. This is due to the region's high rate of product approvals and merger and acquisition activity. Several regional businesses use organic growth strategies to enhance their product portfolio and global market presence. In January 2018, Hoya Corporation established a cataract intraocular lens research and development center in Singapore. In January 2019, Hoya Corporation acquired two ophthalmic medical device manufacturers, Mid Labs (US) and Fritz Ruck (Germany). This acquisition strengthened the company's ophthalmology product portfolio.

North america: fastest growing region

North America is expected to grow at a CAGR of 4.1% during the forecast period. The availability of advanced medical facilities and ongoing technical breakthroughs in the US are the main causes of this high proportion. The Americas led the keratoconus therapy market in 2019 and most likely throughout the evaluation period. The high volume of cataract operations, mergers and acquisitions, and product introductions in this area can be blamed. The demand for different treatment alternatives, such as lenses, surgery, and corneal cross-linking, is also driven by the rising incidence and prevalence of keratoconus illnesses.

Europe maintained the second-largest position, with a share of approximately 26.95% of the global market for keratoconus treatments in 2019, due to the region's thriving medical sector and the rising number of keratoconus cases. Advanced diagnostic and treatment options are also significant factors in the expansion of this market. The illness is being effectively treated thanks to ongoing research by academic and medical research institutions. Similar to how product introductions will accelerate this market's growth.

The Middle East and Africa have had consistent expansion in the keratoconus treatment industry over the past few years. The Middle East nations, including South Africa, the UAE, and Saudi Arabia, have strong adoption rates for more modern diagnostic tools. The growth rate is anticipated to increase over the next several years due to increased strategic efforts by public and private businesses and organizations. Furthermore, a remarkable increase in keratoplasties for keratoconus patients has been seen in Saudi Arabia. Keratoconus was the fourth most common reason for keratoplasty in 1983, accounting for 7.6% of all procedures. It was the main disease-causing factor in 2016, and 48.2% of keratoplasties were carried out.

Segmental Analysis

Based on type

The global keratoconus treatment market is segmented into nipple cone keratoconus, oval cone keratoconus, forme fruste keratoconus, keratoglobus keratoconus, and others. Oval cone keratoconus accounted for the highest market share of 43.67% in 2023, primarily due to its higher prevalence and the availability of effective treatment options tailored to manage this condition.

Based on treatment type

The global market is segmented into corneal cross-linking, lenses, and others. Contact lenses accounted for the highest market share of over 54.59% in 2023, primarily due to their status as a first-line, non-invasive treatment option offering immediate vision correction and suitability for a broad range of keratoconus severity levels.

Based on by end-user

the global market is segmented into eye clinics, hospitals, and others. Eye clinics accounted for the highest market share of over 52.72% in 2023, primarily due to their specialized expertise, access to advanced diagnostic tools, and ability to provide personalized treatment plans for keratoconus patients.

Recent Developments

• August 2022- Glaukos and iVeena Delivery Systems entered into a strategic licensing agreement that grants Glaukos an exclusive global license to develop and commercialize IVMED-80 for the treatment of keratoconus, according to a press release.
• January 2023- Glaukos announced the positive results for a prospective, multi-center clinical trial designed to evaluate the safety of the surgical exchange procedure for travoprost intraocular implant in patients who had already received a travoprost intraocular implant in the Phase 2b clinical trial, also called the exchange trial.