Advances in Ophthalmology： Markets in the Treatment of Eye Disorders and Corrective Vision.pdf

Advances in Ophthalmology Rures adquireret umbraculi, etiam tremulus matrimonii libere senesceret app July 2009 Kalorama Information A division of MarketResearch.com 38 East 29th Street Sixth Floor New York, New York 10016 212.807 .2660 t 800.298.5603 t 212.807 .2676 f www.kaloramainformation.com ADVANCES IN OPHTHALMOLOGY MARKETS IN THE TREATMENT OF EYE DISORDERS AND CORRECTIVE VISION A KALORAMA INFORMATION MARKET INTELLIGENCE REPORT Advances in Ophthalmology has been prepared by Kalorama Information. We serve business and industrial clients worldwide with a complete line of information services and research publications. Kalorama Information Market Intelligence Reports are specifically designed to aid the action-oriented executive by providing a thorough presentation of essential data and concise analysis. Author: Mountaintop Medical Publication Date: July 2009 38 East 29th Street New York, New York 10016 (800) 298-5699 Outside the U.S. (212) 807-2657 FAX: (212) 807-2676 http:/www.KaloramaInformation.com E-MAIL: orderkaloramainformation.com COPYRIGHT © 2009 Kalorama Information a division of MarketResearch.com, Inc. Copyright © 2006 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. TABLE OF CONTENTS CHAPTER ONE: EXECUTIVE SUMMARY1 Overview1 Objectives, Scope, and Methodology.2 Summary Of Findings 5 Overview of Current Market Dynamics .5 Market Analysis and Forecasts7 CHAPTER TWO: INTRODUCTION AND OVERVIEW11 Overview11 History in Treating Eye Diseases.12 World Demographics14 Population by Gender 17 Aging Population18 Staggering World Facts20 CHAPTER THREE: ISSUES AND TRENDS IN THE OPHTHALMOLOGY INDUSTRY.23 Overview23 Resistance to Change24 The New Technological Revolution.26 Competition: Old vs New.26 Refractive Vision Correction RVC.27 Patient Reported Outcomes for Laser in situ Keratomileusis (LASIK) Surgery28 World Economy and Refractive Surgery29 Typical Refractive Demographic 2009.30 Major Eye Diseases.30 Regulation31 Governments Role as Overseer .31 Government Mandate: Safety MDDEA-II threats and care of eyesight; and MDDEA-III the eye examination. These programs involve the diagnosis, treatment and causes of the major eye disease and underscore the significance of MDDEA especially the elderly in their 70s and 80s, the most vulnerable age. The programs aim to help: prevent further deterioration, vision loss and blindness 4 Advances in Ophthalmology Copyright © 2009 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. contain complications from secondary medical conditions reduce the rate of increases in the number people threatened get the word out to world leaders and governments like 20/20 VISON sponsored by the World Health Organization WHO. A major segment of this report deals with competitive populations of key manufacturers/companies offering a wide-range of products, technologies and treatment services employed in refractive vision correction and management of eye diseases. Profiles of key manufactures are presented with in-depth descriptions with contact information status of business technology breakthroughs in ophthalmology discovery, research, product development, and clinical trials market status competitive standing within their product and market niches and latest business activities. The information represented in this report is a comprehensive analysis of the eye care market globally with a special focus on the United States and selected international sectors. The year ending December 31, 2008 was used as the base year with forecasts to the year 2013. Market statistics are given in U.S. dollars and in units where appropriate. Basis for the market analysis consists of key data, statistics; references, and information from a large data base of primary and secondary research sources documented in the report consisting of interviews, professional meetings; conferences; presentations; journals; consumer media radio, TV, magazines, newspapers; and Internet content involving more than 40,000 sources. Data were collected for global populations and medical providers who represent the key influences in the eye care market. The market analysis is comprised of two major sectors: refractive vision correction addressing myopia, hyperopia, presbyopia, and astigmatism and major eye diseases addressing cataracts, glaucoma, AMD, retinal disorders. Within the primary sectors the analysis includes the top RVC treatment modalities traditional and advanced laser systems; RVC lens implants, and alternative surgical implants and surgical intervention for each of the major diseases retinal laser surgery, photo dynamic therapy, pneumatic thermoplasticy, capsulectomy, and trabeculectomy. Competitive market shares are given for the key manufacturers of RVC treatment methodologies and for major devices and ophthalmic therapeutics employed in the management of eye diseases. Market shares are also given for Chapter One: Executive Summary 5 Copyright © 2009 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. the leading services providers optometrists/practitioners; eye care centers/clinics; specialty eye clinics/hospitals offering RVC procedures and/or treatment of eye diseases. SUMMARY OF FINDINGS Overview of Current Market Dynamics The general finding in this study reflects the same competitive dynamics in past years. Again, the market finds itself highly fragmented, competitively volatile, and ultra conservative. Drug companies still reign, and treatment modalities include mostly old technology pharmaceuticals, eye glasses, contact lenses, and lesser surgical intervention. Even as technologies cross competitive boundaries, players cannot ignore the size of the market and its potential business opportunities. There is virtually unlimited demand from people with vision problems in a global population of more than 6 billion. Considering that half of the people born with normal eyesight will need corrective vision at least glasses at some stage in their lives, there is an enormous pool of customers, which continues to renew with each birth. Fulfilling this demand for both traditional and advanced refractive corrective treatment protocols will propel the ophthalmology market to become one of the largest sectors in health care over the next ten years. The ophthalmology market is faced with enormous challenges dealing with restoration of impaired vision and impaired vision impacted by disease. While traditional methodologies to restore vision are readily available; treating disease-related vision problems presents a greater challenge, especially for people that depend on traditional methods. But, the most pressing of eye care needs is reaching less-privileged people in developing and underdeveloped countries. It is one of the most difficult socio-economic and health care challenges of this 21st Century. The major sectors in this report, refractive vision correction RVC and major eye diseases MEDs, share similar business challenges with respect to their technologies, market focus, and competitive agendas. Dramatic changes in the economics of health care are forcing a move towards more cost-effective treatment protocols and a philosophical change in the practice of medicine. This is apparent in the following initiatives towards improving eye care productivity and medical practices. combining functions, features, and treatment modalities; integrating technologies, pharmaceuticals, and other products/services; 6 Advances in Ophthalmology Copyright © 2009 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. increase in eye care “multi-task” practices; and, increased consolidation among eye doctor's; non-MD practitioners; vision care centers; and specialty eye clinicsmoving toward “total eye care organizations.” Competition in a total ophthalmology market is expected to be mostly friendly partnerships, collaborations, licensing arrangements, and consolidationsa normal business practice to thwart weakening market positions and to take advantage of competing yet compatible technologies. A crucial outcome in the changing dynamics of eye care involves availability of options and treatment protocols and impact on lifestyles of people challenged with vision problems. They finally have the opportunity to get rid of inconvenience of eyeglasses and/or contact lenses and to be relieved from the routines of eye care and its endless costs. There is also a glimmer of hope for thousands of legally blind people to regain some vision from developing technologies and vision aids. However, for the larger global population threatened with loss of vision and blindness caused by eye diseases like glaucoma, macular degeneration, and other retinal conditions for which “there is no cure,” they can only expect better management in slowing the progression of vision loss and possible blindness. Though the latest cutting-edge technology targeting these specific diseases will significantly improve management and treatment methods; it has also stimulated a plethora of basic research around the world. Finding a cure for any disease including eye diseases requires original discovery, but raises the question: will a competitively threatened ophthalmology industry, like pharmaceuticals, be a willing participant? Despite the potential problems, it is apparent from the findings that refractive vision correction modalities is a very vibrant and attractive business. Most of the revenue come from products with older technology eye glasses; contact lenses; laser systems; and other interventional surgical devices, and these products will hold this position. Eye diseases each have distinct competitive profiles. Cataract treatment including IOL/intra ocular lens replacement is mostly old technology, but the skills employed represent an important source of new revenues for ophthalmologists becoming trained surgeons for phakic there are not enough trained medical professionals to treat them. In many countries around the world, general practitioners are responsible for a large part of the eye care system. The following is a list of facts considered in developing the market analysis. Impact of new discoveries and advanced breakthrough technologies on existing treatment modalities excluding populations in dire need. Stagnant world economy resulting in widening gap between rich/develop countries and poor countries, limiting the most effective treatments not reimbursed by health insurance, favoring those having disposable funds. The cost of healthcare. Rapidly changing technology dynamics presenting a serious competitive threat to traditional treatment protocols RVC and eye disease. Consolidations are eminent with the threat of competition and demand for funding increasing. Collaboration, partnerships, and licensing and exclusive market rights present an interim strategy to invest in new discoveries without the risks of in-house start up research individual free interest payment plans; typical loan/fee programs with flexible payments; qualified procedure for flexible spending accounts, and private physicians financing patients. Most facilities providing eye care offer financial help or use various financial institutionslike Care Credit and Capital One HC Financing. Market statistics play a crucial role in the development of this analysis and the influence it has on competition, choices of treatment modality, technological trends, and impact on the future of RVC. For example: The estimated number of potential candidates and the dollar value of this market suggest demand for vision correction will remain flat, primarily due to lower physician fees and not due to procedures. Key statistics include: number of wearers of eye glasses physician fees exceed $2 billion per year. Market demand for phakic implantable lens led by AMO and STAAR Surgical and stimulated by Baby-Boomers is expected to grow. The increase in the number of trained doctors, market exposure of approved lens implants, and growth in international markets will provide a healthy opportunity. Chapter One: Executive Summary 9 Copyright © 2009 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. Table 1-1 Ophthalmology Market: Product and Service Revenues combined eye diseases and refractive, 2006-2013 Total Products1 Services Year Revenues (millions) % Growth Revenues (millions) % Growth Revenues (millions) % Growth 2006 $49,478 -$10,611-$38,867 - 2007 53,115 7.4%12,28115.7%40,834 5.1% 2008 56,498 6.413,74011.942,758 4.7 2009 59,959 6.115,20910.744,750 4.7 2010 63,455 5.816,6789.746,777 4.5 2011 66,991 5.618,1879.048,804 4.3 2012 70,637 5.419,7078.450,930 4.4 2013 74,351 5.321,2267.753,125 4.3 1. Includes equipment lasers, diagnostic equip, etc., devices IOLs, pharmaceuticals, etc. Source: Kalorama Information Copyright © 2009 Kalorama Information Reproduction without prior written permission, in any media now in existence or hereafter developed, in whole or in any part, is strictly prohibited. CHAPTER TWO Introduction and Overview OVERVIEW Ophthalmology is engaged in one of the most remarkable phases in recent history of this industrythe ultimate technological revolutionthat will continue to transform the composition and competitive dynamics of this market for decades, impacting players across all competitive boundaries. Though the outlook for new discoveries is exciting for the worlds populations facing loss of vision and blindness, it has also heightened anxiety among leading competitors. Those most affected are companies that will continue to support existing technology and treatment methodologies such as, traditional vision corrective options, ophthalmic therapeutics, lasers, and other alternatives. Explosive development in crucial areas, especially in the treatment of eye disease, is taking the market to the next generation of innovation and creativity by: inciting another level of competitive challenges stimulating market demand encouraging business opportunities for research and development and exploiting the advantages of competitive niches in a growing market. However, as technologies mature the market will be inundated with com