Keratoconus Treatment Market Introduction

Keratoconus is considered to be a progressive eye disorder in which the cornea, which is normally round in shape, thins, and starts bulging into a cone-like shape. This cone shape causes the light entering the eye to deflect on its way to the light-sensitive retina, thereby resulting into distorted vision. Weakening of corneal tissue which results into keratoconus can be because of enzymes imbalance within the cornea. This imbalance results in making the cornea more susceptible to oxidative damage from compounds known as free radicals, which causes it to weaken and bulge forward. Keratoconus also is related to overexposure to the sun’s ultraviolet rays, excessive rubbing of eyes, a history of contact lenses which are poorly fitted, and chronic eye irritation. Treatment for keratoconus disorder depends on the severity of condition and how rapidly the progression of the condition takes place. Mild to moderate keratoconus can be treated with contact lenses or eyeglasses. In some people suffering with keratoconus, wearing contact lenses becomes difficult or cornea becomes scarred. In these cases, surgery might be necessary.

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Global Keratoconus Treatment Market: Competitive Landscape

Major players operating in the keratoconus treatment market are investing in R&D to develop effective solutions for keratoconus. Furthermore, rise in a number of approvals by the FDA for various new drugs and treatments for keratoconus, bolsters the growth of the keratoconus treatment market. For instance, in February 2019, Bausch + Lomb received 510(k) clearance for use of the Tangible Hydra-PEG Custom Contact Lens Coating Technology on several of its Boston Gas Permeable Lens Materials and Zenlens Family of Scleral Lenses. With this coating technology, eye care professionals have the opportunity to enhance contact lens customization for their patients using these Bausch + Lomb lens offerings. 

In December 2016, Bausch + Lomb, a leading global eye health company, announced that its Specialty Vision Products business launched the Zenlens diagnostic lenses in a new 28 lens set format. Adding to the classic Zenlens 24 lens Dx format, which features six lenses in two diameters (16 mm and 17 mm) and two separate designs (prolate & oblate), the new 28 lens set adds four diagnostic lenses with toric peripheral curves.

Alcon

On June 29, 2018, Novartis announced its intention to seek shareholder approval for the spin-off of its Alcon Business, following the complete legal and structural separation of Alcon into a standalone company. Alcon has an array of eye care offerings in the industry with products organized into two businesses: Surgical and Vision Care. The vision care segment offers a broad range of daily disposable, reusable, and color-enhancing contact lenses; and a comprehensive portfolio of ocular health products. These include products for dry eye, contact lens care and ocular allergies, as well as ocular vitamins and redness relievers.

Bausch & Lomb Incorporated

Bausch + Lomb, a division of Bausch Health Companies Inc. is solely dedicated to protecting and enhancing the gift of sight for millions of people around the world. The company is one of the well-known and prestigious health care brands in the world. It offers a diverse and high quality range of eye health products, including contact lenses and lens care products, pharmaceuticals, intraocular lenses, and other eye surgery products. The company markets three broad categories of products: Vision Care, Pharmaceuticals, Cataract, and Vitreoretinal Surgery. Contact lens offerings under the vision care segment span the entire spectrum of wearing modalities. The cataract and vitreoretinal surgery segments offer a full suite of products including intraocular lenses and delivery systems. The pharmaceuticals segment offers products to treat a wide range of eye conditions including glaucoma, eye allergies, conjunctivitis, dry eye, and retinal diseases.

Other key players operating in the in the global keratoconus treatment market include CIBA VISION, CooperVision, HOYA VISION CARE, Menicon Co., Ltd., Johnson & Johnson Vision, SynergEyes Inc., Visionary Optics, and X-Cel Specialty Contacts. These players have adopted strategies such as agreements, partnerships, new product development, and collaborations to gain competitive advantage in the global keratoconus treatment market.

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Global Keratoconus Treatment Market: Dynamics

Increase in Prevalence of Keratoconus

Increasing prevalence of the keratoconus disorder, is the reason responsible for boosting the keratoconus treatment market. According to National Keratoconus Foundation, in 2014, a study by American Journal of Ophthalmology found 218 newly diagnosed cases of keratoconus in the Netherlands. It  determined the annual incidence (new cases) to be 1 in every 7,500 individuals.

Ultraviolet Radiations and Sun Exposure

According to a study titled “Epidemiology of Keratoconus Worldwide” by the Open Opthalmology Journal, ultraviolet radiation is regarded as one of the main causes for the development of keratoconus because of its oxidative damage. This can be illustrated by its high prevalence of keratoconus in hot and sunny areas. Higher prevalence of keratoconus has been identified in Saudi Arabia, Iran, New Zealand, Israel, and some Pacific Islands. One of the explanations for this can be high exposure to the sun and UV rays. Thus, ultraviolet radiations and sun exposure are likely to cause keratoconus disorder, thereby boosting the keratoconus treatment market.

Global Keratoconus Treatment Market: Segmentation

Based on type, the global keratoconus treatment market can be divided into:

  • Forme Fruste Keratoconus
  • Corneal Hydrops
  • Keratoglobus
  • Pellucid Marginal Degeneration
  • Posterior Keratoconus
  • Others

In terms of diagnosis, the global keratoconus treatment market can be classified into:

  • Computerized Corneal Mapping
  • Keratometry
  • Slit-Lamp Examination
  • Refraction Test
  • Others

Based on treatment, the global keratoconus treatment market can be categorized into:

  • Lenses
    • Eyeglasses or Soft Contact Lenses
    • Hard Contact Lenses
    • Piggyback Lenses
    • Hybrid Lenses
    • Scleral Lenses
    • Others
  • Surgery
    • Corneal Inserts
    • Cornea Transplant
    • Others
  • Collagen Cross-linking
  • Others

In terms of end user, the global keratoconus treatment market can be divided into:

  • Eye Hospitals & Clinics
  • Medical Research Centers
  • Academic Institutes
  • Others

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Keratoconus Treatment Market

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