Next Generation Contact Lenses and Visual Prostheses Market Projected to Grow at an Annualized Rate of 20%, predicts Roots Analysis

Roots Analysis has announced the addition of “Next Generation Contact Lenses and Visual Prostheses Market, 2019-2030” report to its list of offerings. 

Natasha Thakur, the principal analyst, stated, “Advancements in the domain of ophthalmology continue to expand the range of potential application areas for contact lenses. Presently, over 55 novel ophthalmic products have been developed or are being developed for the treatment of various ophthalmological disorders, diagnosis / monitoring of diseases and for restoring vision in the blind. The ongoing efforts to innovate in this domain are evident from the fact that more than 7,500 patents have been granted / filed since 2013.”

The report presents opinions on several key aspects of the market. Among other elements, it includes: 

• A detailed assessment of the current market landscape of novel ophthalmic products, highlighting the different categories of contact lenses and visual prostheses (bionic eye technologies) developed / being developed by various players across the world. It features information on the purpose of development (therapeutic, drug delivery, and diagnosis / monitoring), current development status (marketed or under development), target indication(s), type of product (bandage contact lenses, contact lenses or implants), type of organization (industry or non-industry) and location of company headquarters. The market landscape is characterized by the presence of both industry and non-industry players. Most of the industry players are focused on developing therapeutic contact lenses, whereas majority of the academic groups are engaged in the development of smart contact lenses for diagnostic / monitoring purposes. Examples of companies with marketed products include (in alphabetical order, no selection criteria) Alcon, Bausch & Lomb, ChromaGen Vision, EyeYon Medical, HumanOptics, Implandata Ophthalmic Products, Johnson & Johnson Vision Care, OPHTEC, SENSIMED and VisionCare Ophthalmic Technologies.
• An analysis of the key promotional strategies that have been adopted by the developers of marketed products, namely ChromaGen™, CUSTOMFLEX® ARTIFICIALIRIS, EYEMATE®, Hyper-CL™, Implantable Miniature Telescope and SENSIMED Triggerfish®.
• An in-depth analysis of close to 7,500 patents that were granted / filed related to next generation contact lenses and visual prostheses during 2013 to October 2018, highlighting the prevalent and emerging related to the innovation in this domain. The analysis takes into consideration the type of patent, regional applicability, CPC classification, emerging focus areas, leading industry / non-industry players (in terms of the number of patents filed / granted), and patent valuation. It is worth mentioning that, of the total, 64% patents have been filed / granted in the US.  The top patent assignees include (in decreasing order of number of patents filed / granted) Novartis, Massachusetts General Hospital, Allergan, University of California, Google, Massachusetts Institute of Technology, University of Colorado, and University of Illinois Ophthalmology.
• An analysis of the partnerships that have been established in this domain, covering R&D agreements, product development agreements, product commercialization agreements, service alliance and acquisitions; the analysis is based on multiple parameters, such as the type of agreement, type of organization, and focus area in terms of product application and target indication. It is worth noting that, product development agreements were the most popular type of deals inked in this domain, representing 46% of the total number of collaborations. Examples of product development agreements inked in the last two years include the collaborations between the University of Texas and Seoul National University, University of Liverpool and Moorfields Eye Hospital, St Paul's Eye Hospital and UltraVision CLPL, and Oregon State University and Civil Aviation University of China.
• An analysis on the emerging trends and the growing popularity of next generation contact lenses and visual prostheses, as observed on the social media platform, Twitter. Over 2,300 tweets have been posted between 2013 and 2018 (till mid-October). 
• A detailed list of key opinion leaders (KOLs) in this domain, featuring a 2X2 analysis to assess the relative experience of certain individuals, who were shortlisted based on their contributions (in terms of involvement in various clinical studies) to this field. It includes a schematic world map representation, highlighting the geographical locations of eminent scientists / researchers engaged in this domain. In addition, it presents an analysis assessing the credibility and (relative) level of expertise of different KOLs based on number of publications, number of citations, number of clinical trials, number of affiliations and extent of professional network. Examples of top hospitals, research institutes and universities that were found to be actively involved in two or more than two clinical trials related to next generation contact lenses and visual prostheses include (in the decreasing order of their participation in clinical trials) Harbor-UCLA Medical Center, Rabin Medical Center, Clinic Saint Jean, Eye Physicians of Long Beach and Quinze-Vingts National Ophthalmology Hospital.
• A robust market forecast analysis, highlighting the current value and future potential of next generation contact lenses and visual prostheses market. Based on parameters, such as the target patient population, price of the lenses and the likely adoption rates, we have provided an informed estimate on the likely evolution of the market over the period 2019-2030. The report also features a detailed segmentation of the present and anticipated future opportunity based on [A] type of product (contact lenses and visual prostheses) [B] purpose of development of contact lenses (therapeutic, drug delivery and diagnosis / monitoring) [C] key disease indications (glaucoma, diabetes, AMD, retinitis pigmentosa and others) and [D] geography (North America, EU5 and Asia-Pacific). Therapeutic contract lenses represent 80% of approved novel ophthalmic lenses; we expect such products to dominate the overall contact lenses market in the near future as well. At the same time, contact lenses being developed for drug delivery and diagnostics are likely to grow at relatively higher CAGR between 2019 to 2030. The present and upcoming opportunities for novel ophthalmic products are spread across diverse therapeutic areas. As more products receive approval, glaucoma is anticipated to drive the maximum revenues from sales of next generation contact lenses and / or visual prostheses, followed by diabetes and AMD, in 2030.

The report features inputs from a number of eminent industry stakeholders. Thakur remarked, “Most of the experts we spoke to agreed that the conventional methods of administering drugs into the eye are less efficient as only 5% of topically administered drugs are able to penetrate the cornea. On the other hand, drug-eluting contact lenses have been shown to be more efficient as compared to conventional methods of drug delivery to the eye, leading to a lower number of side effects.” The report features detailed transcripts of discussions held with the following experts:

• Michal Shavit (Head of Sales and Marketing, EyeYon Medical) 
• Mark E. Byrne (Co-Founder and Chief Technical Officer, OcuMedic) 
• Praful Doshi (Founder, Chief Executive Officer and Chief Technical Officer, Leo Lens Technology) 

The research also includes brief technology profiles of the following players:

• EyePrint Prosthetics
• University of Washington 
• Leo Lens Technology
• Baylor College of Medicine 
• iBIONICS

For additional details, please visit 
https://www.rootsanalysis.com/reports/view_document/next-generation-contact-lenses-and-visual-prostheses-market-2019-2030/244.html or email sales@rootsanalysis.com

Contact:
Gaurav Chaudhary
+1 (415) 800 3415
+44 (122) 391 1091
gaurav.chaudhary@rootsanalysis.com