PALM BEACH, Florida, July 19, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
The global Ophthalmology Devices market has been anticipated to witness a crucial demand over for the coming near years. According to ResearchMentor.us, the market is estimated to be valued at USD $50 Billion in 2017 and is predicted to extend up to USD 62.54 Billion by the end of 2023, with growing CAGR of 3.80% from 2018 to 2023. Factors contributing to the growth are primarily due to an increasing aging population, large pool of patients with eye diseases, changing demographics and geographical trends as well as increased focus on combination therapies of drugs and introduction of innovative devices. Advancements in technologies, high prevalence rates of refractive error, cataract, and glaucoma, increasing demand for the diagnostic procedures and low compliance with pharmaceuticals are what is expected to propel the devices market in the short and long term going forward. The increasing government initiatives to address visual impairment and increasing awareness regarding overall eye health in general are also believed to be contributing factors driving the growth of the industry. Active healthcare stocks in the markets include: Eyecarrot Innovations Corp (TSX-V:EYC) (OTC:EYCCF), STAAR Surgical Company (NASDAQ:STAA), EyeGate Pharmaceuticals, Inc. (NASDAQ:EYEG), Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSX:VRX), Allergan plc (NYSE:AGN).
Eyecarrot Innovations Corp (TSX-V:EYC.V) (OTCQB:EYCCF) BREAKING NEWS: Eyecarrot Innovations is pleased to announce it has secured a distribution deal with the leading Australasian Behavioral Optometric group ACBO ("The Australasian College of Behavioral Optometrists"). Eyecarrot recently attended the 8th International Congress of Behavioral Optometry in Sydney where the Binovi Platform was very well received. The company will now work with ACBO to follow through on its first shipment of 40 Binovi Touch units into the Australasian marketplace.
"ACBO has been the leading group of Behavioral Optometrists in Australasia for many decades now and is an incredibly well-run organization. Our Binovi Platform was incredibly well received in our recent trip to Sydney and we have prioritized shipment of units to that region later this summer. We are excited to be working with ACBO and the ability to extend our platform globally and expect to penetrate the Australasian market with hundreds of units". Commented CEO Adam Cegielski.
About The Australasian College of Behavioral Optometrists - The Australasian College of Behavioral Optometrists (ACBO) was founded in 1987, and provides Australian, New Zealand and Asian Optometrists with education and training in behavioral optometry. Its members have special interest in children's vision, patients with learning difficulties, traumatic brain injury, binocular vision dysfunction, as well as those wishing to enhance their visual skills. ACBO is the professional association for independent optometrists who wish to differentiate themselves by focusing on functional vision care, neurodevelopmental optometry and vision therapy. Read this and more news for Eyecarrot Innovations at: http://www.marketnewsupdates.com/news/eyc.html
In additional recent industry related eyecare developments from around the markets:
EyeGate Pharmaceuticals, Inc. (NASDAQ:EYEG), a clinical-stage, specialty pharmaceutical company with two proprietary platform technologies for treating diseases and disorders of the eye, in late June announced that it has addressed the final action item in the U.S. Food and Drug Administration's (FDA) review of its Investigational Device Exemption (IDE) for a second pilot study of the Company's Ocular Bandage Gel (OBG). EyeGate's product is a cross-linked thiolated carboxymethyl hyaluronic acid (CMHA-S) platform being developed for the acceleration of re-epithelialization of large corneal epithelial defects in patients having undergone photorefractive keratectomy (PRK). EyeGate is a clinical-stage specialty pharmaceutical company focused on developing and commercializing products using its two proprietary platform technologies for treating diseases and disorders of the eye.
Bausch + Lomb, a leading global eye health company and wholly owned subsidiary of Valeant Pharmaceuticals International, Inc. (NYSE:VRX) (TSX:VRX), this month announced that the U.S. Food and Drug Administration (FDA) has accepted the New Drug Application (NDA) for its sub-micron loteprednol etabonate ophthalmic gel, 0.38% with a Prescription Drug User Fee Act (PDUFA) action date of February 25, 2019. If approved, the product would be the lowest concentrated loteprednol ophthalmic corticosteroid indicated for the treatment of post-operative inflammation and pain following ocular surgery. "The sub-micron loteprednol etabonate ophthalmic gel, 0.38% will offer eye care professionals and their patients a lower concentration formulation with less frequent dosing compared to currently available formulations of loteprednol," said Tracy Valorie, senior vice president, U.S. Pharmaceuticals and Surgical, Bausch + Lomb.
Allergan plc (NYSE:AGN), a leading global pharmaceutical company, recently announced the launch of a new over-the-counter (OTC) artificial tear formulation, REFRESH® REPAIR Lubricant Eye Drops. The first and only artificial tear in the U.S. formulated with carboxymethylcellulose (CMC), hyaluronic acid (HA, an inactive ingredient), and osmoprotectants, REFRESH® REPAIR is the latest addition to the REFRESH® portfolio, the number one doctor-recommended brand of artificial tears. REFRESH® REPAIR tears are designed to repair and protect the eyes from the harmful effects of dry eye and improve clarity of vision.
STAAR Surgical Company (NASDAQ:STAA), a leading developer, manufacturer and marketer of implantable lenses and companion delivery systems for the eye, and Kobe Kanagawa Eye Clinic with locations in Tokyo and Osaka, recently announced they have entered into a multi-year Strategic Cooperation Agreement to provide STAAR's EVO Visian ICL™ lenses as a primary and premium option for patients seeking visual freedom from spectacles and contact lenses through refractive eye treatment. "We are very excited that our clinic has become a strategic partner with STAAR Surgical Company and expect to introduce the ICL to many more patients," said Dr. Junki Sawai, Chairman of Kobe Kanagawa Eye Clinic. "Our clinic has performed almost 500,000 refractive surgery procedures and has implanted the most ICL lenses in Japan for the past eight years in a row.
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