Despite the Recession, Market Scope Expects Robust IOL Revenue Growth through 2014 Plus the Advent of Femtosecond Phaco

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Market Scope has announced publication of the 2009 editions of its three comprehensive reports on the cataract surgery industry. Despite the global recession, cataract surgery--arguably the safest, most frequently performed, and most effective surgery--is still increasing in number, albeit at a slower rate. But demand for presbyopia-correcting intraocular lenses (PC-IOLs) and other premium-priced IOLs has declined as cataract patients and prospective refractive lens exchange patients have tightened their belts and trimmed out-of-pocket expenses. Nonetheless, growth in the elderly population worldwide, greater access to advanced medical care in emerging economies, and a wealth of promising new technologies offer significant opportunities in the cataract surgery market in the years ahead.

Femtosecond lasers are arguably the most promising ophthalmic surgical technology since the surgical knife.

Although PC-IOLs have not achieved the market growth many had initially forecast, these lenses are here to stay and they have clearly raised the bar in expectations for excellent vision among cataract patients. Each year sees advances with newly launched products--the AcrySof IQ ReStor 3.0 multifocal lens from Alcon, the Tecnis Multifocal from AMO, and the Crystalens HD from Bausch & Lomb have gained US FDA regulatory approval since the summer of 2008.

Exciting new PC-IOL designs are also making their way through the development cycle in the US and elsewhere in the world--Market Scope features more than 20 projects in the company's' 2009 Comprehensive Report on the Global IOL Market. Aaren Scientific, Acuity, Carl Zeiss, Hoya, Lenstec, NuLens, PowerVision, Rayner, Tekia and Visiogen, among others, have PC-IOL projects in the works. Perhaps accommodating technologies show the greatest promise, with several innovative IOL designs offering the potential for significantly greater accommodative range than current models.

In the meantime, the demand for premium monofocal IOLs is growing briskly in the US and many other wealthy nations. These IOLs include aspheric optics to improve contrast sensitivity, toric optics to correct astigmatism, and/or blue- or violet-light filtering optics to protect the retina from damaging light exposure While PC-IOLs and premium monofocal IOLs still make up a fraction of the global IOL market in units, the collective revenue share of these more expensive lenses is far greater. We forecast a compounded rate of revenue growth of 8.3 percent through 2014 in the global IOL market, largely due to the impact of greater use of premium-priced PC-IOLs and premium monofocal IOLs on the average IOL price.

Ultrasonic phacoemulsification has been the standard of care in cataract removal for four decades, and the technology is in great part responsible for the safety and effectiveness of modern cataract surgery. While ultrasonic phaco is sure to continue its dominance in the near future, several companies are hard at work on a potentially paradigm-shifting alternative technology, a femtosecond cataract removal laser. These companies boast greater precision and safety with a femtosecond laser and the flexibility to also perform corneal procedures during cataract surgery. According to David Harmon, President of Market Scope, "Femtosecond lasers are arguably the most promising ophthalmic surgical technology since the surgical knife." We expect the first femtosecond cataract removal platforms to reach the US market in late 2010 or in 2011.

Demand for single-use surgical devices--viscoelastics, balanced salt solutions, disposable knives and instruments, etc.--is also expected to experience healthy compounded growth of 5.1 percent, spurred by the aging of the world's population, greater need for labor-saving devices in the wake of shortages of ophthalmologists and nurses, and increasing concerns over cross-contamination with reusable devices. The emerging economies of China, India, and Latin America will play a significant role in this growth.

Market Scope's three reports on the global cataract surgery market give this enormous global market unmatched visibility and transparency. Our reports include detailed descriptions and analyses of the epidemiology of cataracts; demographic trends; commercially available IOLs, cataract surgical equipment and other surgical devices; pipeline technologies; and companies that offer products in this diverse marketplace. In Market Scope's global reports, we use eight regional market categories to analyze data on procedure volume, units, prices, market share and revenues, and we forecast performance over the next five years. Underlying market drivers are also discussed.

For report descriptions and tables of contents, please follow these links:
2009 Comprehensive Report on the Global IOL Market
2009 Comprehensive Report on the Global Single-Use Surgical Device Market
2009 Comprehensive Report on the Global Cataract Surgical Equipment Market

Contact Dave Harmon for more information or to purchase these and/or other Market Scope reports. Visit online or call (314) 835-0600.

About Market Scope

Market Scope is recognized as the leading source for accurate and timely information on the ophthalmic industry. We have been conducting primary research, surveying ophthalmologists, and producing comprehensive reports on ophthalmic markets since 1996. Our data, analysis, and forecasts serve as starting points for many annual planning cycles, strategic plans, acquisition analyses, and return on investment decisions in the industry. In addition, our information is routinely included in annual reports, SEC filings, and investor presentations by leading ophthalmic companies.


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Dave Harmon
Market Scope, LLC
314.835.0600 ext. 112
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