Refractive surgery -Laser vision correction (LVC) and Phakic intraocular lens (IOL) implantation- is an easy surgical procedure with limited complication rates (during the operation) and with a significant impact on patient satisfaction. The most common form of LVC is the Laser assisted in situ keratomileusis (LASIK). However, demand for this business has decreased in recent years due to fears of post-surgery complications derived from keratoconus (KC).
Keratoconus is a progressive and degenerative pathology of the cornea, which is the optical element of the eye providing most of the optical power of the whole eye. The incidence of this condition is 1 per 375 in the general population (265 cases per 100,000). Many aspects of this pathology remain unknown, especially those concerning its aetiology. It can severely degrade vision and has no cure, although there are methods to prevent its progression when detected at an early stage.
We at Conrea have developed the first method to detect KC in the most incipient stages. The early detection of KC allows ophthalmologists to screen their patients prior to surgery, therefore reducing the number of complications, increasing patients satisfaction, and creating a new business in the market of refractive surgery worth more than €200M per year.
The main objective of the technical work performed during the phase 1 period was the analysis of the global laser refractive market, identifying important trends and key factors for future success. Our method of research consisted in conducting a thorough desktop research and a series of analyses, all of which will help us understand our potential market, who will be the final user of our solution and who else do we have to consider along the value chain.
