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Corneal Cross Linking Devices Market

ID: MRFR/HC/9436-CR
166 Pages
Kinjoll Dey
September 2022

Corneal Cross linking Devices Market Research Report Information by Type (Standard Corneal Cross-Linking, Corneal Cross-Linking Plus, and Accelerated Cross-Linking), Method (Epithelium-off Method and Epithelium-on Method), Application (Keratoconus, Pellucid Marginal Degeneration, Refractive Surgery Ectasia, and Others), End User (Hospitals, Eye Clinics, and Ambulatory Surgical Centers) and Region (North America, Europe, Asia-Pacific, and Rest of the World)—Forecast till 2035

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Corneal Cross Linking Devices Market Summary

As per Market Research Future Analysis, the Corneal Cross Linking Devices Market was valued at USD 0.15 Billion in 2023 and is projected to grow to USD 0.45 Billion by 2032, with a CAGR of 13.25% from 2024 to 2032. The market is driven by the rising incidence of keratoconus and advancements in healthcare infrastructure. However, growth is hindered by a lack of awareness and potential side effects associated with treatments. The COVID-19 pandemic disrupted supply chains and production, but recovery was noted in 2021 as restrictions eased. The market is characterized by ongoing product development and launches, indicating a robust pipeline for future growth.

Key Market Trends & Highlights

Key trends influencing the Corneal Cross Linking Devices Market include increasing prevalence of keratoconus and advancements in treatment methods.

  • The global prevalence of keratoconus is approximately 1.38 per 1000 population, driving demand for CXL devices.
  • The market is expected to see significant product launches, with several CXL devices in clinical trials.
  • The epithelium-on method is gaining traction due to reduced postoperative discomfort and lower infection risks.

Market Size & Forecast

2023 Market Size USD 0.15 Billion
2024 Market Size USD 0.17 Billion
2032 Market Size USD 0.45 Billion

Major Players

Glaukos Corporation (US), EMAGine AG (Switzerland), Peschke GmbH (Switzerland), IROMED GROUP Srl (Italy), iVIS Technologies (Italy), AJL Ophthalmic S.A. (Spain)

Corneal Cross Linking Devices Market Drivers

Market Growth Projections

The Global Corneal Cross Linking Devices Market Industry is projected to experience substantial growth in the coming years. With a current valuation of 0.17 USD Billion in 2024, the market is anticipated to expand significantly, reaching an estimated 0.65 USD Billion by 2035. This growth trajectory indicates a compound annual growth rate of 13.02% from 2025 to 2035. Factors contributing to this growth include increasing prevalence of keratoconus, technological advancements, and rising awareness among patients and healthcare providers. The market's expansion reflects a broader trend towards improved eye care and treatment options.

Rising Geriatric Population

The global increase in the geriatric population correlates with a higher prevalence of eye disorders, thereby influencing the Global Corneal Cross Linking Devices Market Industry. Older adults are more susceptible to conditions like keratoconus, necessitating effective treatment options. As the population aged 65 and above continues to grow, the demand for corneal cross linking devices is expected to rise. This demographic shift is likely to drive market growth, with projections indicating a market size of 0.65 USD Billion by 2035. The aging population underscores the need for innovative solutions to address age-related eye conditions.

Growing Awareness and Education

Increased awareness and educational initiatives regarding corneal diseases and their treatments significantly impact the Global Corneal Cross Linking Devices Market Industry. Healthcare organizations and advocacy groups are actively promoting knowledge about keratoconus and the benefits of corneal cross linking. This heightened awareness leads to early diagnosis and treatment, which is crucial for effective management of the condition. As a result, more patients are likely to seek out these procedures, contributing to market growth. The industry is expected to see a valuation of 0.17 USD Billion in 2024, with a potential increase as educational efforts continue to expand.

Regulatory Support and Approvals

Supportive regulatory frameworks and timely approvals for corneal cross linking devices play a crucial role in the Global Corneal Cross Linking Devices Market Industry. Regulatory bodies are increasingly recognizing the importance of these devices in treating keratoconus and other corneal disorders. Streamlined approval processes facilitate quicker market entry for new technologies, encouraging manufacturers to innovate. This regulatory environment fosters competition and enhances patient access to advanced treatment options. As a result, the market is poised for growth, with expectations of reaching 0.65 USD Billion by 2035.

Increasing Prevalence of Keratoconus

The rising incidence of keratoconus globally drives demand for corneal cross linking devices. Keratoconus, a progressive eye disease, affects approximately 1 in 2,000 individuals, leading to significant visual impairment. As awareness of this condition grows, more patients seek treatment options, thereby propelling the Global Corneal Cross Linking Devices Market Industry. In 2024, the market is valued at 0.17 USD Billion, reflecting the urgent need for effective interventions. The increasing prevalence of keratoconus is expected to contribute to a compound annual growth rate of 13.02% from 2025 to 2035, potentially reaching 0.65 USD Billion by 2035.

Technological Advancements in Treatment

Innovations in corneal cross linking technology enhance treatment efficacy and safety, thereby boosting the Global Corneal Cross Linking Devices Market Industry. Newer devices utilize advanced techniques such as accelerated cross linking, which reduces treatment time and improves patient comfort. These advancements not only attract more healthcare providers but also encourage patients to opt for these procedures. As technology continues to evolve, the market is likely to expand, with a projected valuation of 0.65 USD Billion by 2035. The integration of artificial intelligence in treatment planning further indicates a promising future for the industry.

Key Companies in the Corneal Cross Linking Devices Market market include

Industry Developments

    • In November 2019, Glaukos Corporation acquired Avedro, Inc. (US) to support its new corneal health franchise. This acquisition brought together two highly complementary hybrid pharmaceutical and device organizations. In addition, Avedro's innovative bio-activated pharmaceutical solutions and R&D capabilities combined with Glaukos' global commercial scale for corneal cross-linking products.
    • In October 2019, A partnership between SERVImed Industrial S.p.A. (Italy), distributor of IROMED GROUP Srl and TECHLens (Poland) aimed to develop a combination product to treat keratoconus. The final product will combine IROMED GROUP Srl transepithelial Ribocross riboflavin formulation with the CXLens cross-linking system for corneal remodelling from TECLens. The market for CXL devices is benefiting as a result.

Future Outlook

Corneal Cross Linking Devices Market Future Outlook

The Corneal Cross Linking Devices Market is projected to grow at a 13.02% CAGR from 2024 to 2035, driven by technological advancements, increasing prevalence of keratoconus, and rising awareness of eye health.

New opportunities lie in:

  • Develop innovative, patient-friendly cross-linking devices to enhance user experience.
  • Expand distribution networks in emerging markets to capture untapped customer segments.
  • Invest in R&D for advanced cross-linking techniques to improve treatment efficacy.

By 2035, the market is expected to achieve substantial growth, reflecting advancements and increased demand.

Market Segmentation

Report Scope

Report Attribute/Metric Details
Market Size 2023 0.15 (USD Billion)
Market Size 2024 0.17 (USD Billion)
Market Size 2032 0.45 (USD Billion)
Compound Annual Growth Rate (CAGR) 13.25 % (2024 - 2032)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Base Year 2023
Market Forecast Period 2024 - 2032
Historical Data 2019 - 2023
Geographies Covered North America, Europe, Asia Pacific, and Rest of the World
Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled Glaukos Corporation (US), EMAGine AG (Switzerland), Peschke GmbH (Switzerland), IROMED GROUP Srl (Italy), iVIS Technologies (Italy), and AJL Ophthalmic S.A. (Spain)
Key Market Opportunities Increasing product development and launches
Key Market Drivers • Increasing incidence and prevalence of keratoconus disorders • Improving healthcare infrastructure

Market Highlights

Author
Kinjoll Dey
Research Analyst Level I

He is an extremely curious individual currently working in Healthcare and Medical Devices Domain. Kinjoll is comfortably versed in data centric research backed by healthcare educational background. He leverages extensive data mining and analytics tools such as Primary and Secondary Research, Statistical Analysis, Machine Learning, Data Modelling. His key role also involves Technical Sales Support, Client Interaction and Project management within the Healthcare team. Lastly, he showcases extensive affinity towards learning new skills and remain fascinated in implementing them.

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FAQs

How Big is the Corneal Cross linking Devices market?

The global corneal cross linking devices market is anticipated to reach USD 0.45 Billion at a CAGR of 13.25% by 2032

Who are the key players in the market of Corneal Cross linking Devices?

Glaukos Corporation (US), EMAGine AG (Switzerland), Peschke GmbH (Switzerland), IROMED GROUP Srl (Italy), iVIS Technologies (Italy), and AJL Ophthalmic S.A. (Spain) are the key players in the market of Corneal Cross linking Devices.

Which region is predicted to lead the market of Corneal Cross linking Devices?

North America is predicted to lead the market of Corneal Cross linking Devices.

What is the major market driver of Corneal Cross linking Devices?

Increasing prevalence of keratoconus disorders and Improving healthcare infrastructure are the major market driver of Corneal Cross linking Devices.

Which factors may limit the market growth of Corneal Cross linking Devices?

Lack of awareness regarding keratoconus disorders and Side effects associated with treatment are the factors may limit the market growth.

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