It occurs due to weakening of outer layer of eye (cornea or sclera) by an inflammatory or degenerative condition.
It is an ectasia and outpouching of the pseudocornea ( the scar formed from organised exudates and fibrous tissue covered with epithelium over the iris) which results after total sloughing of cornea in sloughening corneal ulcer with iris plastered behind; the pseudocornea, being too weak to resist the IOP protrudes forward with the uveal tissue.
It results due to ectasia of weak scar tissue formed at the limbus, following healing of a perforating injury or a peripheral corneal ulcer.
As the name implies, it is the bulge of weak sclera lined by ciliary body, which occurs about 2–3 mm away from the limbus.
On the equator of the eye (region circumferencing the largest diameter orthogonal to the visual axis).