Worldwide Trends 2012 Single Use Contact Lens Market Current and Historical Trends of the Market • A contact lens, or simply contact, is a lens placed on the eye. • The purpose of this medical device is to correct a number of vision impairments, as well as for cosmetic or therapeutic use. • 2004- estimated 125 million people, roughly 2%, used contact lenses worldwide, including 28 to 38 million in the United States. • 2010- Worldwide contact lens market was estimated at $6.1 billion, while the U.S. soft lens market is estimated at $2.1 billion. • It is estimated that the global market will reach $11.7 billion by 2015. • As of 2010, the average age of contact lens wearers globally was 31 years old and two thirds of wearers were female. Current and Historical Trends of the Market • Currently, roughly 40 million Americans wear contact lenses • Subsequently a recent worldwide study indicated use of extended wear contact lenses that are worn continuously for several days remains low. • In a report published in Optometry and Vision Science,* researchers in Australia evaluated contact lens fittings performed in 39 countries over a 14-year period (1997 through 2010). The study data suggest use of extended wear (EW) lenses peaked in 2006, when approximately 12 percent of all contact lens fittings performed in the countries surveyed were for extended wear. • 2010- worldwide use of EW lenses accounted for just 7.8 percent of contact lens prescriptions, with usage being highest in Norway (27 percent). Approximately 10 percent of contact lenses worn in the United States in 2010 were extended wear lenses. Current and Historical Trends of the Market • People using extended wear contact lenses also purchase contact lens solutions, suggesting that many wearers might be removing their lenses occasionally and sleeping without them on rather than wearing them on a continuous basis for the lifetime of the lenses, which typically is 1-2 weeks or monthly. • 72 percent of extended wear lenses were silicone hydrogel contact lenses, which allow significantly more oxygen to reach the front surface of the eye than regular soft (hydrogel) lenses and therefore are considered by many eye care professionals to be safer for continuous wear. • Risk of eye infections remains significantly higher when contact lenses are worn overnight compared with when lenses are worn on a daily wear basis (removed before sleep), and that extended wear lenses are unlikely to gain mainstream use until “the already low risk of ocular complications (from EW) can be reduced to be equivalent to that of (daily wear).” Current and Historical Trends of the Market • This graph indicates the percentage of extended wear (EW) lenses based on prescriptions to eye patients. • This chart, along with the findings entailed in the previous study, emphasizes the growing need of single use disposable contact lenses. Top manufacturers in the single use contact lens market • Each major US contact lens manufacturers offers a daily disposable contact. • Johnson and Johnson- First mover of single use contact lens with the Acuvue 1-day • Ciba- second mover of single use contact lens with the Focus Dailies • Bausch & Lomb- third mover of single use contact lens with the Soflens One-Day. • In Europe and Asia, Daily Disposables are one of, if not the leading modality for contact lens wear, but in the US, daily disposables have captured only about 5% of the contact lens market. The primary reason is cost - to wear daily-disposable contact lenses full-time, you need about 360 pairs a year. • These lenses cost less on a unit basis than conventional lenses, but the total costs of use is roughly $600 to $700 per year for the average consumer through doctor office visits. • This means that many consumers will shift from purchasing contact lens devices from doctor’s offices to online purchases and various third party authorized retailers. Top manufacturers in the single use contact lens market • Key players in the disposable contact lens market: • Abbott Medical Optics, Inc. • Alcon Inc. • Bausch & Lomb • CIBA Vision Corporation • Contact Lens Portfolio • Lens Care Portfolio • CooperVision, Inc. • Vistakon (Johnson and Johnson) Top manufacturers in the single use contact lens market The chart displays the percent market share per single use contact lens manufacturer Single Use Contact Lens Market Innovations • March 2012- Vistakon, a division of Johnson & Johnson Vision Care, recently announced the U.S. launch of 1Day Acuvue Moist Contact Lenses for Astigmatism. • The new lens is a daily disposable soft toric contact lens made with Lacreon Technology. The technology embeds a water-holding ingredient in the lens surface to create a cushion of moisture, according to the company. • 1-Day Acuvue Moist for Astigmatism lenses also feature a special Blink Stabilized Design to help the lens stay aligned in front of the eye, providing consistently clear vision for patients with astigmatism. Innovations • April 2012-Avaira Toric contact lenses for astigmatism received Special 501(k) clearance from the Food and Drug Administration (FDA) and was re-launch in early May of 2012. • The FDA clearance follows last year’s recall of certain lots of Avaira Toric two-week silicone hydrogel contact lenses due to silicone oil residue found on some lenses. • Manufactured by CooperVision, the contact lenses feature Aquaform Comfort Science Technology that allows the lenses to stay moist and transmit high levels of oxygen. Innovation • The “Smart Contact Lens”- ability to monitor whole health through lens packed with circuits, sensors and wireless technology. • Slow release capabilities of medication for certain eye conditions • • Monitors the following• Cholesterol • sodium • potassium • glucose • Development of Glaucoma Though much conversation is available, the actual release of such “smart contact lens” is still in the making.