United States Keratoconus Treatment Market Research Report to 2032
ID: MRFR/HC/11791-US | 100 Pages | Author: MRFR Research Team| December 2023
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ID: MRFR/HC/11791-US | 100 Pages | Author: MRFR Research Team| December 2023
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US Keratoconus Treatment Market Highlighted Trends & Dynamics
In 2019, the United States dominated the keratoconus treatment market, holding the largest share of approximately 37.34%, amounting to a market size of USD 133.88 million. This significant share was mainly due to the presence of well-established medical facilities and continuous technological advancements in the country. The Americas led the way in the keratoconus treatment market in 2019 and are expected to maintain their dominance. This is because of a high number of cataract surgeries, mergers and acquisitions, and product launches in this region. The growing occurrence of keratoconus disorders also contributes to the demand for various treatment options, such as lenses, surgery, and corneal cross-linking. According to the American Journal of Ophthalmology, an estimated 50-200 out of every 100,000 people suffer from keratoconus. In the US, a study found a prevalence of 54.5 per 100,000 people.The market in the Americas is set to grow further, propelled by product launches. For instance, in December 2019, Johnson & Johnson Services, Inc. introduced the Tecnis Toric II 1-Piece Intraocular Lens (IOL) in the US. This product launch played a crucial role in enhancing the company's position in the keratoconus treatment market. Additionally, mergers and acquisitions are expected to drive market growth in the foreseeable future. In March 2019, Alcon, a subsidiary of Novartis AG, acquired PowerVision, Inc. based in the US. This strategic acquisition strengthened Alcon's portfolio of fluid-based accommodating intraocular lens products, contributing to overall market growth during the projected period.
The high prevalence of keratoconus disorders in the US, coupled with advanced medical facilities and continuous technological advancements, has positioned the country as a major player in the global market. The Americas, particularly the US, are anticipated to maintain their dominance in the keratoconus treatment market, driven by factors such as a significant number of cataract surgeries, frequent mergers and acquisitions, and continuous product launches. The demand for various treatment options for keratoconus, including lenses, surgery, and corneal cross-linking, is on the rise.
The growth of the market is further supported by recent product launches. A notable example is Johnson & Johnson Services, Inc.'s introduction of the Tecnis Toric II 1-Piece Intraocular Lens (IOL) in the US in December 2019. This strategic move not only expanded the company's product offerings but also strengthened its foothold in the competitive keratoconus treatment market. Moreover, mergers and acquisitions play a pivotal role in driving market growth. The acquisition of PowerVision, Inc. by Alcon in March 2019 exemplifies this trend. As a subsidiary of Novartis AG, Alcon's strategic acquisition bolstered its portfolio of fluid-based accommodating intraocular lens products, contributing to the overall expansion of the keratoconus treatment market.
In conclusion, the US, with its well-developed medical facilities and continuous technological advancements, holds a substantial share in the keratoconus treatment market. The Americas, driven by factors such as cataract surgeries, mergers and acquisitions, and product launches, are expected to maintain their leadership in the market. The increasing prevalence of keratoconus disorders and the adoption of various treatment options contribute to the overall growth of the market in the region. Recent product launches and strategic acquisitions further propel the expansion of the keratoconus treatment market, promising a positive outlook for the foreseeable future.
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