Next Generation Contact Lenses and Visual Prostheses Market, 2019-2030
For more than five decades, contact lenses have primarily been used to correct vision-related disorders. The existence of several unmet needs in the field of ophthalmology, recent technological advances and the availability of new biomaterials, have substantially expanded the range of potential application areas for contact lenses. It is estimated that close to 2.4 million eye injuries occur every year in the US. In order to cater to this demand, a myriad of therapeutic contact lenses have been developed specifically for treating / protecting the eye. The efficient delivery of drugs / other therapeutic substances to the eye is also deemed to be an area for improvement. It is presently characterized by low bioavailability and limited exposure time to pharmacological interventions; for instance, in the case of eye drops, 95% of the active therapeutic ingredient is assumed to be lost / wasted post dose administration. A variety of drug-eluting contact lenses have been / are being developed to address the aforementioned challenges. The potential of contact lenses is being explored for diagnosis and disease monitoring purposes as well. Diabetes and glaucoma are key clinical conditions for which contact lenses are being developed to assess and track various disease related parameters. In fact, 10 contact lenses have already been approved for purposes other than vision correction; recent examples include CUSTOMFLEX® ARTIFICIALIRIS (aniridia, 2018) and EYEMATE® (glaucoma, 2017).
On the other hand, according to the National Eye Institute, nearly 1.3 million people are blind, while 2.9 million individuals have poor vision, in the US. It is estimated that the number of cases for blindness and poor vision are likely to reach 2.2 million and 5 million, respectively, by 2030, in the same region. Visual prosthetics, such as bionic eyes, represent the next generation of solutions for vision restoration. Their unique mechanism of action leverages electrical pulses to stimulate optic nerves and bypass damaged segments of region in the eye. Pharmaceutical companies and academic institutions have already invested a significant amount of capital in the development and commercialization of the abovementioned products. 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. In the coming years, the market is anticipated to grow at a significant pace as more novel solutions clear clinical evaluation and get commercialized.
SCOPE OF THE REPORT
The “Next Generation Contact Lenses and Visual Prostheses Market, 2019-2030” report features an extensive study of the current market landscape of therapeutic contact lenses, drug-eluting contact lenses, diagnostic / monitoring contact lenses and visual prostheses. The study lays emphasis on the novel products and technologies that are being developed for the treatment of ocular disorders, which generally cause severe visual impairment or blindness. Amongst other elements, the report includes:
A detailed review of the 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, target indication(s), type of product, type of organization (industry or non-industry) and location of company headquarters.
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®.
Brief profiles of the novel technologies that are being developed to expand the functionality of contact lenses; each profile features an overview of the technology, along with details on its working mechanism, information on application areas, type of products, key benefits, technical specifications and important details related to the developer company.
An in-depth analysis of the various patents granted / filed related to next generation contact lenses and visual prostheses since 2013, 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.
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.
A study of prevalent and emerging trends, and the popularity of next generation contact lenses and visual prostheses, as observed on the social media platform, Twitter. The analysis takes into consideration the tweets posted on the platform, between 2013 and 2018 (till mid-October).
A 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.
One of the key objectives of the report was to determine the existing market size and develop estimates of future growth opportunities for next generation contact lenses and visual prostheses. 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). In order to account for future uncertainties and to add robustness to our model, we have provided three market forecast scenarios, namely the conservative, base and optimistic scenarios, which represent different tracks of the industry’s evolution.
The opinions and insights presented in this study were also influenced by discussions conducted with several stakeholders in this domain. The report features detailed transcripts of interviews held with Mark E Byrne (Co-Founder and Chief Technical Officer, OcuMedic), Michal Shavit (Head of Sales and Marketing, EyeYon Medical and Praful Doshi (Founder, Chief Executive Officer and Chief Technical Officer, Leo Lens Technology).
All actual figures have been sourced and analyzed from publicly available information forums and primary research discussions. Financial figures mentioned in this report are in USD, unless otherwise specified.
1. Over 35 novel types of contact lenses are either marketed or are being developed for therapeutic (including bandage contact lenses), drug delivery and diagnostic / monitoring applications. In addition, more than 15 visual prostheses (bionic eyes) are either commercialized or under development for restoring vision. Further, lens developers claim to be developing technologies to expand the functionality of soft contact lenses that are already available in the market in order to explore new areas of application.
2. 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. A similar distribution of industry and non-industry players is seen within the visual prostheses market as well. Prominent examples of industry players focused on developing bionic eyes include (in alphabetical order, no selection criteria) Bionic Vision Technologies, Nano Retina, Nanovision Biosciences and Second Sight.
3. Close to 7,500 patents pertaining to next generation contact lenses and visual prostheses have been filed / granted till October 2018. Of these, 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.
4. Multiple partnerships and collaborations have also been established between various stakeholders in the given time period. 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.
5. Several prominent scientists (over 100) have made significant contributions in advancing the clinical development efforts, and therefore, have emerged as key opinion leaders in this field. 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.
6. Over 2,300 tweets posted in the past few years (January 2013-October 2018) on the social media platform, Twitter, depicts the rising popularity of next generation contact lenses and visual prostheses. Owing to a rise in prevalence of eye disorders and injuries, the market for novel ophthalmic solutions, including contact lenses and visual prostheses, is expected to grow at a rate of close to 20% in the coming years.
7. 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 data presented in this report has been gathered via secondary and primary research. For all our projects, we conduct interviews with experts in the area (academia, industry, medical practice and other associations) to solicit their opinions on emerging trends in the market. This is primarily useful for us to draw out our own opinion on how the market will evolve across different regions and technology segments. Where possible, the available data has been checked for accuracy from multiple sources of information.
The secondary sources of information include
News releases from company websites
Government policy documents
Industry analysts’ views
While the focus has been on forecasting the market till 2030, the report also provides our independent view on various emerging trends in the industry. This opinion is solely based on our knowledge, research and understanding of the relevant market, gathered from various secondary and primary sources of information.
Chapter 2 is an executive summary of the insights captured in our research. The summary offers a high-level view on the likely evolution of next generation contact lenses and visual prostheses market in the short term, mid term and long term.
Chapter 3 provides a general introduction to next generation ophthalmic lenses, highlighting the general concept of contact lenses along with the different types / classes of such products, along with their respective application areas. Further, it provides an overview of visual prostheses, describing the architecture and applications of such products. It also features a brief discussion on key therapeutic areas and the future of contact lenses.
Chapter 4 features a list of novel contact lenses that are developed / being developed for -therapeutic, drug delivery and diagnosis / monitoring purposes by both industry and non-industry players. It includes a list of visual prostheses that are either marketed or being developed by various companies. The chapter includes a detailed analysis of the aforementioned products based on various parameters, such as status of development, type of developer organization, location of headquarters (of the developer), target indication and type of product.
Chapter 5 highlights the key promotional strategies that are being implemented by the developers of marketed products, including ChromaGen™, CUSTOMFLEX® ARTIFICIALIRIS, EYEMATE®, Hyper-CL™, Implantable Miniature Telescope and SENSIMED Triggerfish®. The promotional aspects covered in the chapter include details that are provided on the product website (covering key messages for patients and healthcare professionals), patient support offerings and informative downloadable content.
Chapter 6 features brief profiles of novel technologies being developed by various industry, as well as non-industry players. Each profile presents an overview of the developer, key features of the technology, details on its working mechanism, and information on the area of application, type of product and advantages offered by the technology.
Chapter 7 provides an in-depth patent analysis, presenting an overview on the filed / granted patents related to next generation contact lenses and visual prostheses. For this analysis, we looked at the patents that have been published by various players since 2013. The analysis highlights the key information and trends associated with these patents, including patent type (granted patents, patent applications and others), patent publication year, regional distribution, CPC classification, emerging areas and leading industry / non-industry players. The chapter also includes a patent benchmarking and valuation analysis.
Chapter 8 features an analysis and discussion of the various collaborations and partnerships that have been inked amongst the players in this domain. It includes a brief description on the various types of partnership models (including product development agreements, product commercialization agreements, R&D agreements, service alliance and acquisitions) that have been adopted by stakeholders in this domain. The analysis highlights the prevailing trends with respect to the type of partnership, type of organization, and focus area in terms of product application and target indication. Furthermore, the chapter includes a world map representation of all the deals inked in this field, highlighting both intercontinental and intracontinental partnership activity.
Chapter 9 provides insights on the popularity of next generation contact lenses and visual prostheses on the social media platform, Twitter. For this analysis, we have analyzed tweets posted on the platform in the period between January 2013 and mid-October 2018. The chapter showcases the most frequently mentioned keywords / phrases and a bubble analysis of the most prolific and most influential authors, related to next generation contact lenses and visual prostheses, on Twitter.
Chapter 10 provides an analysis of KOLs in the field of next generation contact lenses and visual prostheses. It features a comprehensive list of principal investigators / study directors of different clinical trials, along with the information related to the affiliated research institutes. The chapter features a schematic representation on a world map, highlighting the geographical locations of eminent scientists / researchers who are engaged in clinical research in this domain. It also presents a comparative analysis, highlighting those KOLs who have relatively more experience in this domain. The credibility and (relative) level of expertise of different KOLs defined by other analysts / industry experts were compared to the results obtained using a proprietary scoring criteria, which was based on number of publications, number of citations, number of clinical trials, number of affiliations and extent of network.
Chapter 11 presents a comprehensive market forecast analysis, highlighting the future potential of next generation contact lenses and visual prostheses, till the year 2030. We have provided inputs on the likely opportunity on the basis of type of product (contact lenses and visual prostheses, purpose of development of contact lenses (therapeutic, drug delivery and diagnostic / monitoring), various target indications (glaucoma, diabetes, AMD, retinitis pigmentosa and others) and different regions (North America, EU5 and Asia-Pacific).
Chapter 12 summarizes the entire report. It presents a list of key takeaways and offers our independent opinion on the current market scenario. Further, it captures the evolutionary trends that are likely to determine the future of this segment of the industry.
Chapter 13 is a collection of interview transcripts of the discussions held with key stakeholders in the industry. In this chapter, we have presented the details of interviews held with Mark E. Byrne (Co-Founder and Chief Technical Officer, OcuMedic), Michal Shavit (Head of Sales and Marketing, EyeYon Medical) and Praful Doshi (Founder, Chief Executive Officer and Chief Technical Officer, Leo Lens Technology).
Chapter 14 is an appendix, which provides tabulated data and numbers for all the figures included in the report.
Chapter 15 is an appendix, which contains the list of companies and organizations that have been mentioned in the report.
LIST OF COMPANIES / LIST OF COMPANIES AND ORGANIZATIONS
The following companies and organizations have been mentioned in the report.
1. [W] Eye Clinic
2. Aachen University Hospital
3. Abbott Medical Optics
5. Alden Optical
6. Alfred Hospital
8. Applied Genetic Technologies
9. Assaf Harofeh Medical Center
10. Associated Eye Care
11. Bascom Palmer Eye Institute
12. Baylor College of Medicine
13. Bionic Sight
14. Bionic Vision Technologies
15. Bionics Institute
16. Boston Children’s Hospital
17. California Institute of Technology
18. China Pharmaceutical University
19. ChromaGen Vision
20. Civil Aviation University of China
21. Cleveland Clinic
22. Clinic Saint Jean
23. Cornea Consultants of Texas
24. Dry Eye Center of Northeastern Pennsylvania
25. Duke University School of Medicine
26. Emory University
27. Eye Associates of New Mexico
28. Eye Care of San Diego
29. Eye Clinic Wittenbergplatz
30. Eye Physicians of Long Beach
31. Eye Specialty Group
32. EyeGate Pharma
33. EyePrint Prosthetics
34. EyeYon Medical
35. Fortis Memorial Research Institute
36. Fred Hutchinson Cancer Research Center
37. Ghent University
39. Grey Innovation
40. Harvard Medical School
41. Hospital Dresden-Friedrichstadt
44. Implandata Ophthalmic Products
45. Institute of Ocular Microsurgery
47. Johannes Gutenberg University Mainz
48. Johns Hopkins Wilmer Eye Institute
49. Johnson & Johnson
50. K N Toosi University of Technology
51. Karlsruhe Municipal Hospital
52. King's College Hospital
53. Kish Healthcare Biotechnologies
54. Klinikum rechts der Isar
55. Knappschaftsklinikum Saar
56. Korea Advanced Institute of Science and Technology
57. Korea Institute of Science and Technology
58. Kyungpook National University
59. Leo Lens
60. LG Innotek
61. Loma Linda University Medical Center
62. Massachusetts Eye and Ear Infirmary
63. Massachusetts Institute of Technology
64. Mayo Clinic
65. Medella Health
66. Mercy Clinic Eye Specialists
67. Mid Atlantic Retina
69. Minnesota Eye Consultants
70. Monash University
71. Moorfields Eye Hospital
72. Nano Retina
73. Nanovision Biosciences
74. Nanyang Technological University
75. Nara Institute of Science and Technology
76. National Vision Research Institute
77. New York Eye and Ear Infirmary
80. Northwestern University
84. Orange County Retina
85. Oregon State University
86. Osaka University
87. PHI BioMed
88. Pixium Vision
89. Pohang University of Science and Technology
90. Poitiers University Hospital
91. Poznan University of Medical Sciences
92. Purdue University
93. Queen's University Belfast
94. Quinze-Vingts National Ophthalmology Hospital
95. Rabin Medical Center
96. Retina Consultants of Hawaii
97. Retina Foundation of the Southwest
98. Retina Implant
99. Retinal Consultants of Arizona
100. Royal Victorian Eye and Ear Hospital
101. Sanglah General Hospital
102. Sarasota Retina Institute
103. Second Sight
105. Semmelweis University
107. Seoul National University
108. Sight Sciences
110. Southeast University
111. St Paul's Eye Hospital
112. Stony Brook University Hospital
113. Swiss Federal Institute of Technology
114. The University of Hong Kong
115. Transitions Optical
116. Tufts University School of Medicine
117. Udayana University
118. Uka Tarsadia University
119. Ulsan National Institute of Science and Technology
120. UltraVision CLPL
121. University Hospital of Würzburg
122. University Health Network
123. University Hospital Center of Bordeaux
124. University Hospital Leipzig
125. University Hospital Tuebingen
126. University Hospital Zurich
127. University Medical Center Hamburg-Eppendorf
128. University Medical Center Schleswig-Holstein
129. University of Bern
130. University of Birmingham
131. University of California
132. University of Cologne
133. University of Colorado
134. University of Florida
135. University of Houston
136. University of Illinois
137. University of Liverpool
138. University of Maryland
139. University of Melbourne
140. University of Michigan Kellogg Eye Center
141. University of Minnesota
142. University of North Carolina
143. University of Oxford
144. University of Pittsburgh Medical Center
145. University of Sydney
146. University of Texas
147. University of Washington
148. University of Waterloo
149. Verily Life Sciences
151. VisionCare Ophthalmic Technologies
152. Wenzhou Medical College
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