Ophthalmic Devices Market Forecast 2015-2025

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Ophthalmic Devices Market Forecast 2015-2025

Prospects for Leading Companies in Vision Care, Surgical, Diagnostic and Monitoring Devices

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Contents

1.1 Global Ophthalmic Devices Market Overview 1.2 Why You Should Buy This Report 1.3 How This Report Delivers 1.4 Key Questions Answered by This Analytical Report 1.5 Who is This Report For? 1.6 Methodology 1.7 Frequently Asked Questions (FAQs) 1.8 Associated Reports 1.9 About visiongain

2.1 The Eye: An Overview of Its Structure and Function 2.2 The Global Burden of Eye Disease 2.3 The Diagnosis and Surgical Treatment for Eye Diseases

2.3.1 Refractive Errors (Myopia, Hyperopia or Astigmatism) 2.3.1.1 LASIK Eye Surgery (Laser In-Situ Keratomileusis) 2.3.1.2 Phakic Intraocular Surgery 2.3.1.3 Photorefractive Keratectomy (PRK) 2.3.1.4 Conductive Keratoplasty (CK) 2.3.1.5 Refractive Lens Exchange (RLE)

2.3.2 Cataracts 2.3.2.1 Phacoemulsification and Intraocular Lenses 2.3.2.2 Microincision Cataract Surgery (MICS)

2.3.3 Glaucoma 2.3.3.1 Diagnosis of Glaucoma 2.3.3.2 Glaucoma Surgical Treatment

2.3.4 Age-Related Macular Degeneration (AMD) 2.3.4.1 Dry (non-exudative) AMD

2.3.4.1.1 Treatment for Dry AMD 2.3.4.2 Wet (exudative) AMD 2.3.4.3 Surgical Treatment of Wet AMD

2.3.4.3.1 Photodynamic Therapy 2.3.4.3.2 Laser Photocoagulation 2.3.4.3.3 Radtiotherapy – Oraya Therapy 2.3.4.3.4 Newer Types of Surgery 2.3.4.3.5 Wet AMD: Poor Outcomes with Surgical Procedures

1. Report Overview

2. Introduction to the Ophthalmic Devices Market

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Contents

2.3.5 Diabetic Retinopathy (DR) 2.3.5.1 Diagnosis of Diabetic Retinopathy 2.3.5.2 Treatment of Diabetic Retinopathy

2.3.6 Dry Eye Syndrome (DES) 2.3.6.1 Treatment of DES

2.3.6.1.1 Punctal Occlusion 2.3.6.1.2 Salivary Gland Autotransplantation 2.3.6.1.3 Tarsorrphaphy

2.4 Ophthalmic Devices 2.4.1 What are Ophthalmic Devices? 2.4.2 Devices: Classification

2.4.2.1 The US Medical Devices Classification System 2.4.2.2 The EU Medical Devices Classification System 2.4.2.3 The Japanese Medical Devices Classification System

2.4.3 Regulation of Ophthalmic Devices 2.4.3.1 The US Approval and Regulation System 2.4.3.2 The EU Approval and Regulation System 2.4.3.3 The Japanese Approval ad Regulation System

2.5 Ophthalmic Devices: Market Segmentation 2.5.1 The Monitoring and Diagnostics Ophthalmic Devices Market

2.5.1.1 General Eye Health 2.5.1.2 Refractive Monitoring and Diagnostic Devices 2.5.1.3 Glaucoma Monitoring and Diagnostic Devices

2.5.2 The Surgical Ophthalmic Devices Market 2.5.2.1 Cataract Surgery Devices 2.5.2.2 Glaucoma Surgery Devices 2.5.2.3 Refractive Error Surgery Devices 2.5.2.4 Vitreoretinal Surgery Devices

2.5.3 The Vision Care Devices Market

3.1 The Medical Devices Market Overview 3.1.1 The Global Medical Devices Market, 2015-2025

3.2 The Ophthalmic Devices Market by Submarket, 2014 3.3 The Ophthalmic Devices Market, 2015-2025

3. The Global Ophthalmic Devices Market, 2015-2025

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Contents

4.1 The Ophthalmic Vision Care Devices Market Overview 4.2 The Ophthalmic Vision Care Devices Market, 2015-2025

4.2.1 The Ophthalmic Vision Care Devices Market by Segment 4.2.1.1 The Ophthalmic Vision Care Devices Market by Segment, 2014 4.2.1.2 The Ophthalmic Vision Care Devices Market by Segment, 2015-2025

4.2.1.2.1 The Daily Disposable Contact Lens Market, 2015-2025 4.2.1.2.2 The Other Contact Lenses Market, 2015-2025

4.3 The Leading National Vision Care Market Forecast, 2015-2025 4.3.1 The Leading National Vision Care Markets, 2014 4.3.2 The Leading National Vision Care Market Forecast, 2015-2025

4.3.2.1 The US Vision Care Market Forecast, 2015-2025 4.3.2.2 The EU Vision Care Market Forecast, 2015-2025 4.3.2.3 The Chinese Vision Care Market Forecast, 2015-2025 4.3.2.4 The Japanese Vision Care Market Forecast, 2015-2025 4.3.2.5 The Russian Vision Care Market Forecast, 2015-2025 4.3.2.6 The Brazilian Vision Care Market Forecast, 2015-2025 4.3.2.7 The Indian Vision Care Market Forecast, 2015-2025 4.3.2.8 The South Korean Vision Care Market Forecast, 2015-2025 4.3.2.9 The Mexican Vision Care Market Forecast, 2015-2025 4.3.2.10 The Rest of the World Vision Care Market Forecast, 2015-2025

4.4 Contact Lenses on the Market 4.5 The Contact Lens Market: New Product Development and Product Pipeline

4.5.1 1-DAY ACUVUE MOIST Multifocal Lenses (Johnson & Johnson Vision Care) 4.5.2 Biotrue ONEday Contact Lenses (Bausch and Lomb (Valeant)) 4.5.3 1-DAY ACUVUE DEFINE with LACERON Technology (Johnson & Johnson Vision Care) 4.5.4 Google Smart Lenses in Cooperation with Novartis 4.5.5 Sensimed (Triggerfish)

4.6 SWOT Analysis of the Vision Care Market, 2015-2025 4.6.1 Strengths

4.6.1.1 Increasing Adoption of Disposable Contact Lenses 4.6.1.2 Contact Lenses for Non-Ocular Disorders 4.6.1.3 Linked to Changes in Consumer Spending

4.6.2 Weaknesses 4.6.2.1 High Entry Barriers for New Entry Manufacturers 4.6.2.2 Fast Downward Pricing Pressure

4.6.3 Opportunities

4. The Ophthalmic Vision Care Devices Market, 2015-2025

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Contents

4.6.3.1Growing Affluent Population in Developing Economies 4.6.3.2 Increasing Access to Diagnostic Equipment 4.6.3.3 Sales of Cosmetic and Coloured Lenses 4.6.3.4 Ageing Population

4.6.4 Threats 4.6.4.1 Growing Demand for LASIK Surgery

5.1 The Ophthalmic Diagnostics and Monitoring Devices Market Overview 5.2 The Ophthalmic Diagnostics and Monitoring Devices Market, 2014 5.3 The Ophthalmic Diagnostics and Monitoring Devices Market Forecast by Segment, 2015-2025

5.3.1 The Autorefractor/Keratometer Market Froecast, 2015-2025 5.3.2 The Fundus Camera Market Forecast, 2015-2025 5.3.3 The Slit Lamp Market Forecast, 2015-2025 5.3.4 The OCT Machine Market Forecast, 2015-2025

5.3.4.1 Ophthalmic OCT Machine Products 5.3.5 The Other Ophthalmic Diagnostics and Monitoring Devices Market Forecast, 2015-2025

5.4 SWOT Analysis of the Ophthalmic Diagnostics and Monitoring Devices Market, 2015-2025 5.4.1 Strengths

5.4.1.1 Continuing Developing of Improved Technologies 5.4.1.2 Stable Future Revenue Through Lack of Pricing Pressure

5.4.2 Weaknesses 5.4.2.1 Shortage of Ophthalmic Device Providers

5.4.3 Opportunities 5.4.3.1 Ageing Population 5.4.3.2 Increasing Demand for Advanced Optical Coherence Tomography Machines 5.4.3.3 Increasing Demand for Advanced Ophthalmic Diagnostics

5.4.4 Threats 5.4.4.1 Increasing Cost of Healthcare

5. The Ophthalmic Diagnostics and Monitoring Devices Market,

2015-2025

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Contents

6.1 The Ophthalmic Surgical Devices Market Overview 6.1.1 The Surgical Ophthalmic Devices Market, 2014

6.2 The Surgical Ophthalmic Devices Market Forecast, 2015-2025 6.2.1 The Intraocular Lenses Market Forecast, 2015-2025

6.2.1.1 Intraocular Lens Products 6.2.1.2 Intraocular Lens Product Pipeline

6.2.1.2.1 The Light Adjustable Lens (Calhoun) 6.2.1.2.2 LiquiLens IOL (Vision Solution Technologies) 6.2.1.2.3 Smart IOL (Medennium) 6.2.1.2.4 NuLens Accommodating IOL (NuLens) 6.2.1.2.5 The FluidVision Lens (PowerVision)

6.2.2 The Ophthalmic Laser Market Forecast, 2015-2025 6.2.2.1 Laser System Products

6.2.2.1.1 Refractive Lasers 6.2.2.1.1.1 STAR S4 IR Excimer Laser (Abbott Medical Optics) 6.2.2.1.1.2 iFS Advanced Femtosecond Laser (About Medical Optics) 6.2.2.1.1.3 WaveLight Allergretto Wave Eye-Q Laser (Alcon (Novartis)) 6.2.2.1.1.4 WaveLight Refractive Suit (Alcon (Novartis)) 6.2.2.1.1.5 NIDEK Advanced Vision Excimer Laser System NAVEX Quest ) (Nidek) 6.2.2.1.1.6 TECHNOLAS TENEO 317 Laser (Bausch and Lomb (Valeant)) 6.2.2.1.1.7 TECHNOLAS TENEO 217P Laser (Bausch and Lomb (Valeant))

6.2.2.1.2 Cataract Lasers 6.2.2.1.2.1 The LenSx Laser (Alcon (Novartis)) 6.2.2.1.2.2 LENSAR Laser System (LENSAR) 6.2.2.1.2.3 Catalys Precision Laser System (Abbott Medical Optics) 6.2.2.1.2.4 VICTUS Femtosecond Laser Platform (Bausch and Lomb (Valeant))

6.2.2.1.3 Lumenis Vision (InSight) 6.2.3 The Phacoemulsification Devices Market Forecast, 2015-2025 6.2.4 The Ophthalmic Visoelastic Devices Market Forecast, 2015-2025 6.2.5 The Other Surgical Ophthalmic Devices Market Forecast, 2015-2025 6.2.6 Ophthalmic Drug Delivery Devices

6.2.6.1 Recent Approvals 6.2.6.1.1 Retisert fluocinolone acetonide (Bausch and Lomb (Valeant)) 6.2.6.1.2 Ozurdex dexamethasone (Allergan)

6. The Ophthalmic Surgical Devices Market Forecast, 2015-2025

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Contents

6.2.6.1.3 Illuvien fluocinolone acetonide (Alimera Sciences) 6.2.6.2 Novel Ocular Drug Delivery Platform Pipeline

6.2.6.2.1 ECT Platform (Neurotech Pharamceuticals) 6.2.6.2.2 Hydrogel Technology Products (Ocular Therapeutix) 6.2.6.2.3 ProDex (Taiwan Liposome Company)

6.2.6.3 Microinvasive Glaucoma Surgery (MIGS) 6.2.6.3.1 Trabectome (NeoMedix Corporation) 6.2.6.3.2 EX-PRESS Glaucoma Filtration Devices (Alcon (Novartis)) 6.2.6.3.3 iStent (Glaukos)

6.2.6.4 Stents in the Glaucoma Pipeline 6.2.6.4.1 CyPass Micro-Stent (Transcend Medical) 6.2.6.4.2 Hydrus (Ivantis) 6.2.6.4.3 XEN Gel Stent (Aquesys)

6.3 SWOT Analysis of the Ophthalmic Surgical Devices Market, 2015-2025 6.3.1 Strengths

6.3.1.1 Highest Growing Submarket 6.3.1.2 Fast Development of IOL Technology 6.3.1.3 Increasingly Sophisticated Laser Surgery

6.3.2 Weaknesses 6.3.2.1 Challenging Reimbursement Environment

6.3.3 Opportunities 6.3.3.1 Ageing Population 6.3.3.2 Rising Diabetes Epidemic 6.3.3.3 Large Pipeline of Products

6.3.4 Threats 6.3.4.1 Pharmaceuticals Compete as Therapies for Ocular Diseases

7.1 The Leading National Ophthalmic Devices Markets, 2014 7.2 The Leading National Ophthalmic Devices Markets, 2025

7.2.1 The US Ophthalmic Devices Market Forecast, 2015-2025 7.2.2 The European Ophthalmic Devices Market Forecast, 2015-2025

7.2.2.1 The European Ophthalmic Devices Market Forecast, 2015-2025 7.2.2.2 The German Ophthalmic Devices Market Forecast, 2015-2025 7.2.2.3 The French Ophthalmic Devices Market Forecast, 2015-2025 7.2.2.4 The Italian Ophthalmic Devices Market Forecast, 2015-2025

7. The Leading National Ophthalmic Devices Markets, 2015-2025

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Contents

7.2.2.5 The Spanish Ophthalmic Devices Market Forecast, 2015-2025 7.2.2.6 The UK Ophthalmic Devices Market Forecast, 2015-2025 7.2.2.7 The Rest of Europe Ophthalmic Devices Market Forecast, 2015-2025

7.2.3 The Japanese Ophthalmic Devices Market Forecast, 2015-2025 7.2.4 The Brazilian Ophthalmic Devices Market Forecast, 2015-2025 7.2.5 The Russian Ophthalmic Devices Market Forecast, 2015-2025 7.2.6 The Indian Ophthalmic Devices Market Forecast, 2015-2025 7.2.7 The Chinese Ophthalmic Devices Market Forecast, 2015-2025 7.2.8 The South Korean Ophthalmic Devices Market Forecast, 2015-2025 7.2.9 The Mexican Ophthalmic Devices Market Forecast, 2015-2025

8.1 Alcon (Acquired by Novartis) 8.1.1 Alcon Financial Performance, 2013-2014

8.1.1.1 Surgical Segment: Financial Performance, 2013-2014 8.1.1.2 Vision Care Segment: Financial Performance, 2013-2014

8.1.2 Product Line 8.1.2.1 Surgical Products

8.1.2.1.1 CENTURION Vision System 8.1.2.1.2 LenSx Laser 8.1.2.1.3 WaveLight Refractive Suite 8.1.2.1.4 WaveLight Allegretto Wave Eye-Q Laser 8.1.2.1.5 ACRYSOF IOLs 8.1.2.1.6 EX-PRESS Glaucoma Filtration Device 8.1.2.1.7 INFINITI Vision System

8.1.2.2 Vision Care Products 8.1.2.2.1 AIR OPTIX 8.1.2.2.2 FOCUS DAILIES 8.1.2.2.3 FreshLook Colour Lenses

8.1.3 Mergers and Acquisitions 8.1.3.1 Acquisition of Alcon 8.1.3.2 Acquisition of Endure Medical Systems 8.1.3.3 Acquisition of SensoMotoric Instruments GmbH (SMI) – Ophthalmic Division 8.1.3.4 Acquisition of LexSx Lasers 8.1.3.5 Job Losses 8.1.3.6 Acquisition of WaveTec Vision 8.1.3.7 Licensing of Google [X] Smart Lens Technology

8. The Leading Ophthalmic Devices Companies

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Contents

8.2 Abbott Medical Optics (AMO) 8.2.1 AMO Financial Performance, 2013-2014 8.2.2 AMO Product Portfolio 8.2.3 Mergers and Acquisitions

8.2.3.1 Abbotts Acquisition of Advanced Medical Optics 8.2.3.2 Acquisition of OptiMedica 8.2.3.3 Acquisition of VISX

8.3 Bausch and Lomb (B&L) (Acquired by Valeant) 8.3.1 Bausch and Lomb Financial Performance, 2013-2014 8.3.2 Product Line

8.3.2.1 Surgical Products 8.3.2.1.1 Vitreoretinal Products

8.3.2.1.1.1Retisert (fluocinolone acetonide intravitreal implant) 0.59g 8.3.2.1.2 Cataracts and Lens Products

8.3.2.1.2.1 enVista Intraocular Lens (IOL) 8.3.2.1.2.2 TRULIGN Toric IOL 8.3.2.1.2.3 Akreos Advanced Optics (AO) and MICS Lens 8.2.3.1.2.4 Crystalens AO Lens 8.3.2.1.2.5 SofPort AO Aspheric Lens

8.3.2.1.3 Cataracts Surgery Products 8.3.2.1.3.1 Stellaris Vision Enhancement System 8.3.2.1.3.2 VICTUS Femtosecond Laser Platform

8.3.3 Mergers and Acquisitions 8.3.3.1 Acquisition of Laboratorio Pfortner Cornealent SACIF 8.3.3.2 Valeant Acquisition of Bausch and Lomb 8.3.3.3 Acquisition of Technolas Perform Vision GmbH 8.3.3.4 Acquisition of Eyeonics 8.3.3.5 Bausch and Lomb Price Fixing in China

8.4 Johnson and Johnson Vision Care 8.4.1 Johnson and Johnson Vision Care Financial Performance, 2014

8.4.1.1 Johnson and Johnson Vision Care Financial Performance, 2013-2014 8.4.2 Product Line 8.4.3 Expansion of Manufacturing Facilities 8.4.4 Fined for Price Fixing Contact Lenses in China

8.5 Nidek 8.5.1 Nidek Financial Performance, 2012-2013 8.5.2 Product Line

8.5.2.1 Surgical Systems 8.5.2.2 Intraocular Lenses

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Contents

8.5.2.3 Ophthalmic Lasers 8.5.2.4 Refractive Surgery Systems 8.5.2.5 Diagnostic Equipment

8.5.2.5.1 Retina and Glaucoma 8.5.2.5.2 Cornea and Cataract

8.6 Hoya Corporation 8.6.1 Hoya Financial Performance, 2013-2014

8.6.1.1 Hoya Financial Performance by Business Segment, 2014 8.6.2 IOL Product Line

8.7 STAAR Surgical (STAAR) 8.7.1 STAAR Surgical Financial Performance, 2012-2014 8.7.2 STAAR Revenue by Region, 2012-2014 8.7.3 STAAR Revenue by Segment, 2012-2014 8.7.4 Product Line

8.7.4.1 Intracollamer Lenses 8.7.4.2 Intraocular Lenses

8.8 Carl Zeiss AG Meditec 8.8.1 Carl Seizz Meditec Financial Performance, 2012-2014

8.8.1.1 Carl Zeiss Meditec Financial Performance by Business Segment, 2012-2014 8.8.1.2 Carl Zeiss Meditec Financial Performance by Region, 2014

8.8.2 Product Line 8.8.3 Mergers and Acquisitions

8.8.3.1 Acquisition of Aaren Scientific 8.8.3.2 Cooperation Agreement with Oraya Therapeutics Inc

8.9 TopCon 8.9.1 TopCon Financial Performance, 2012-2014

8.9.1.1 TopCon Financial Performance by Business Segment, 2014 8.9.2 Product Line

8.9.2.1 3D OCT-2000 Spectral Domain OCT 8.9.2.2 Other Major Products

8.9.3 Mergers and Acquisitions 8.9.3.1 Acquisition of Optimedica’s Retina and Glaucoma Business

8.10 Haag-Streit Holding AG 8.10.1 Product Line

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Contents

9.1 Porter’s Five Forces Analysis of the Ophthalmic Devices Market 9.1.1 Rivalry Among Competitors [High] 9.1.2 Threat of New Entrants [Medium] 9.1.3 Power of Suppliers [Low] 9.1.4 Power of Buyers [High] 9.1.5 Threat of Substitutes [High]

10.1 Ellie Bai, Press Relations Officer, Taiwan Liposome Company (Taiwan) 10.1.1 Future of the Ophthalmic Therapeutics Delivery Market 10.1.2 Technological Advancement in Ophthalmic Devices 10.1.3 The Payment Environment

10.2 Martina Iniotri, Ophthalmic Services Specialist, JINS Eyewear (Japan) 10.2.1 Changes in the Vision Care Market 10.2.2 The Shape of the Contact Lens Market

11.1 The World Ophthalmic Devices Market, 2014-2015 11.2 Leading Ophthalmic Devices Submarkets 11.3 World Ophthalmic Devices Market Forecast, 2015-2025 11.4 Leading Segments of the Ophthalmic Devices Submarkets

9. Qualitative Analysis of the Ophthalmic Devices Market, 2015-2025

10. Interviews

11. Conclusions

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Ophthalmic Devices Market Forecast 2015-2025: Future Prospects for Leading Companies in Vision Care, Surgical, Diagnostic & Monitoring Devices

4.3.2.3 The Chinese Vision Care Market Forecast, 2015-2025 The Chinese Vision Care market is currently experiencing strong growth, but this is expected to

cool over the forecast period, resulting in annual growth dropping from 9.4% 2015-2016 to 7.0% in

2024-2025. The reasons for this slowdown are complex. Major coastal cities such as Beijing and

Shanghai have seen increased adoption of contact lenses in recent years, for both vision

correction and cosmetic reasons. The use in these cities is likely to continue to grow, but at a

slower rate as they approach saturation and as ophthalmic standards plateau. Smaller cities are

sighted by the Chinese government as where healthcare investment is focused, and this has the

potential to continue to drive growth. However, the Chinese economy is undergoing large-scale

changes and the ability of the heavily indebted local governments to deliver these expensive

healthcare reforms are in doubt.

Table 4.10 The Chinese Vision Care Market: Revenue ($bn), AGR (%), CAGR (%), 2014-2025

2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025China ($bn) 0.47 0.51 0.56 0.61 0.67 0.73 0.79 0.86 0.92 0.99 1.06 1.13AGR (%) 9.4 9.4 9.3 9.0 8.8 8.5 8.1 7.6 7.3 7.1 7.0CAGR (%) (2014-2020)CAGR (%)

9.1 7.48.3

2020-25

Figure 4.11 The Chinese Vision Care Market: Revenue ($bn), AGR (%), 2014-2025

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Source: visiongain 2015


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5.4.2 Weaknesses

5.4.2.1 Shortage of Ophthalmic Device Providers Currently there is a shortage of ophthalmic providers globally, and this is expected to worsen over

the forecast period as the population ages. This trend will affect both developed and undeveloped

markets; however the crisis may be more apparent in developing markets where the ratio of

ophthalmic device providers to patients is already so high. This will cause concern within the

ophthalmic monitoring and diagnostics market because despite an increase in demand for eye

check-ups, the supply of optometrists will not meet with demand. To ensure that the ophthalmic

monitoring and diagnostic market grows, it is vital that there are enough ophthalmic providers are

available to take advantage of new technologies. There is a limited scalability of ophthalmic health

care programs in countries such as India because of the lack of skilled ophthalmologists.

5.4.3 Opportunities

5.4.3.1 Ageing Population The over-65 age group is a pivotal demographic group in the ophthalmic diagnostic devices

industry because the majority of ophthalmic diseases, such as cataracts, AMD and glaucoma are

age-related. A large proportion of the products in the ophthalmic diagnostic tests are targeted at

the over-65s.

With reports estimating the global over 65 population to reach 1billion by 2030, the ageing

population globally provides a strong opportunity to expand revenue base in a number of

diagnostic device sectors. The UN estimates the global over-65 population to have tripled over the

last 50 years. It also estimates this number to increase by more than 50% in the next four decades

to reach 418m by 2050 in developed regions of the world. Moreover, the UN estimates that, in

developing countries, the over-65 population will reach 1.6bn by 2050, representing a third of the

total population in these countries. With such a rapidly expanding population of the elderly,

demand for ophthalmic devices is only expected to increase.

5.4.3.2 Increasing Demand for Advanced Optical Coherence Tomography

Machines There have been great technological developmental advances for optical coherence tomography

machines. The development of the next generation of SD OCTs has allowed much greater ability

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responsive to treatment with laser photocoagulation or other available therapies for diabetic

macular oedema should be treated with the Iluvien implant.

6.2.6.2 Novel Ocular Drug Delivery Platform Pipeline

6.2.6.2.1 ECT Platform (Neurotech Pharmaceuticals) Encapsulated Cell Technology (ECT) is a biotechnical implant system developed at Neurotech

Pharmaceuticals. ECT implants are capable of continuously producing recombinant

biotherapeutics for up to two years in the eye. The ECT platform is a formed from the NTC-200 cell

line, a naturally immortalised retinal pigmented epithelial cell line. Recombinant cell lines derived

from transfected NTC-200 cells can secrete different classes of biotherapeutics such as cytokines

and monoclonal antibodies. ECT devices are fabricated from medical-grade plastics and consist of

a semi-permeable polysulfone exterior capsule and internal scaffolding made of

polyethyleneteraphtalate yarn. The finished devices allow prolific cell growth and protein production

within the hollow capsule. The surgical procedure to insert the implant requires a single incision,

insertion, and suture-anchoring of the device.

The Neurotech clinical pipeline is focused on a number of ophthalmic indications. The NT-503

(phase II) VEGF-antagonist program and NT-506 (preclinical) PDGF-antagonist program are

aimed at producing ECT implants that treat pathological angiogenesis (choroidal

neovascularization) within the retina, associated with the wet form of Age-Related Macular

Degeneration (wet AMD).

For orphan indications, the NT-501 (Renexus) ECT implant system generates the neurotrophic

cytokine CNTF for treating photoreceptor degeneration associated macular telangiectasia (MacTel)

and Glaucoma.

Figure 6.9 Neurotech: Encapsulated Cell Technology Pipeline, 2015 Product Preclinical Phase I Phase II Phase III Regulatory ApprovalNT-503 (Anti-VEGF - Wet AMD)NT-506 (Anti-PDGF/VEGF - Wet AMD)NT-501 (CNTF - MacTel)NT-501 (CNTF - Glaucoma)

Source: Neurotech company website; visiongain 2015

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7.2.6 The Indian Ophthalmic Devices Market Forecast, 2015-2025 Of the 39 million blind people in the world, it has been estimated almost 12 million are in India.

Nearly 80% of the blind in India can be cured and therefore the India is a region with huge

ophthalmic devices market potential. At the present time, the ophthalmic devices market in India is

rudimentary with much scope for development. Regulatory guidelines for the approval of medical

devices in India were non-existent prior to 2005 when the Indian government began the work of

establishing some regulatory frameworks for the medical devices industry. This move was taken in

response to the recognition of the importance of the fast-growing medical devices industry to the

Indian economy. However, the Indian ophthalmic devices market is still undeveloped and it is still

largely an untapped market. In 2012, one study found only 14000 ophthalmologists practice in

India and a mere 800 ophthalmologist’s graduate every year. Ophthalmologist to patient ratio is

approximately 1: 70000. The problems are exacerbated in rural India where the ophthalmologist to

patient ratio is even higher.

India’s central and state governments together spent approximately 1.3 percent of GDP on health

care per year, comparatively little when compared to other emerging economies. When private

health payments are included India spends 4.3% of GDP on healthcare. The government’s 12th

five-year plan proposes to increase health care spending to 1.6 percent of GDP, ignoring the

Planning Commission’s recommended health care spending rate of 2.5 percent of GDP.

Figure 7.16 The Russian Ophthalmic Devices Market: Revenue ($bn), AGR (%), 2014-2025

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8.5.2.5 Diagnostic Equipment

8.5.2.5.1 Retina and Glaucoma

• Optical Coherence Tomography RS-3000 Advance

• Optical Coherence Tomography RS-3000 Lite

• Optical Coherence Tomography Scan Duo

• Microperimeter MP-3

• Digital Ophthalmascope F-10

• Non-Mydriatic Auto Fundus Camera

• Slit Lamp SL-1800

8.5.2.5.2 Cornea and Cataract

• Echoscan US-4000

• Specular Microscope CEM-530

• Optical Biometer AL-Scan

8.6 Hoya Corporation Hoya Corporation, based in Japan, is a multinational company that manufactures optical products.

Hoya is active in the fields of Life Care and Information Technology providing eyeglasses, medical

endoscopic system, intraocular lenses, optical lenses as well as key components for the

semiconductor devices, LCD panels and HDDs. In our report, we have focused the analysis on

their Life Care business segment; however this also includes revenues from their eye glasses

which have not been included as a segment in our definition of the ophthalmic devices market.

This has become more significant in the last year as Hoya has taken over Canon Seiko’s eyewear

lens manufacturing business. In 2014, Hoya employed 36,605 people worldwide.

8.6.1 Hoya Financial Performance, 2013-2014 Hoya Corporation has reported that at the present time, the Life Care business is the major driver

of their growth. This has become more apparent as traditional industries such as the digital

cameras are becoming a mature market. All FY years reported by Hoya end on March 31.

Endoscopes are the largest segment of their medical business in terms of sales and contribute

more than 10% of revenue. Revenue grew to $3888million in 2014 from $3717million in 2013, an

AGR of 4.6%. However, during this period the Japanese Yen experienced depreciation of