Eye drop for vision: Eye drops could soon become a treatment for age-induced farsightedness

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  Quantumrun Foresight
• April 13, 2022

Insight summary

The emergence of corrective eye drops for presbyopia is reshaping the landscape of vision care, offering a non-invasive and potentially more affordable alternative to traditional glasses and surgery. This development is leading to new business opportunities, such as optometrists partnering with medicinal eye drop producers, and spurring the creation of competing products, even those that enable unique vision enhancements like infrared sight. The long-term implications of this trend include changes in consumer behavior, shifts in industry dynamics, updates to driving standards, and a more sustainable approach to vision correction.

Eye drop for vision context

Presbyopia is an eye problem that affects up to 80 percent of the world's older population, particularly from the age of 40 to 45 and above. While prescription glasses or contact lenses are the most common treatments for presbyopia, a new treatment using eye drops is coming closer to becoming a reality. Presbyopia is characterized by a slow decline in seeing and focusing on nearby objects.

Anatomically, it occurs when the lens in one or both eyes become stiff and inflexible. The non-surgical eye drops that are being developed to treat this condition are likely to be available in two types. The Miotic drops will support the contraction of the pupil to maintain focus on both near and far objects. The second eyedrop type will seek to soften the eye lens so it can regain its flexibility. 

By restoring lens flexibility in the eye, the effect could be people's eyes reverting to their function and condition of 10 years earlier. As a result, older people with presbyopia can maintain good eyesight for extended periods. In comparison, studies have revealed that Miotic eye drops will have short-term effects, lasting between 3 and 7 hours, while lens softening drops could last for up to 7 years. 

Disruptive impact

As of January 2022, clinical trials have shown that the use of these eye drops can improve patients' eyesight by up to three chart lines on a standard eye chart, a method the US Federal Drug Administration uses to grade eyesight studies. This improvement not only demonstrates the effectiveness of the eye drops but also suggests that they are safe to use. However, some market analysts believe that many people nearing the age of 40 may continue to prefer traditional glasses over this newer treatment, indicating that eye drops may not entirely replace other forms of treatments like surgery and eyeglasses.

The availability of corrective eye drops offers a convenient and possibly more affordable alternative to traditional methods of vision correction. If these eye drops become widely accepted to treat presbyopia, they could become one of the most cost-effective options for suitable candidates. This trend may lead to a shift in personal preferences and behaviors, with more people opting for a non-invasive solution to their vision problems. Yet, the preference for traditional glasses and the reluctance to adopt a new form of treatment may slow down the widespread acceptance of this method.

For companies in the eye care industry, this trend may lead to the development of new products and services, creating a competitive landscape that encourages further research and development. Governments and healthcare providers may need to consider regulations, safety standards, and public awareness campaigns to ensure that the eye drops are used responsibly and effectively. Additionally, insurance companies may need to evaluate coverage policies to include this new treatment option, reflecting the changing landscape of eye care solutions. 

Implications of eye drops for vision

Wider implications of eye drops for vision may include: 

• Spurring the development of competing eye drops that enhance vision, even doing so in different ways such as enabling people to see in infrared, leading to a diversified market of vision enhancement products.
• Optometrists forming partnerships with companies that produce medicinal eye drops to supplement lost revenue from glasses sales and lens replacements, fostering new business relationships and collaboration within the industry.
• Driving standards being updated to recognize drivers with presbyopia being treated using eye drops, and that recurring rounds of treatment may be needed over a set number of years, leading to changes in licensing regulations and requirements.
• A shift in consumer behavior towards non-invasive vision correction methods, leading to a decline in demand for traditional eyewear and surgical procedures, potentially affecting related industries and professions.
• The creation of new educational programs and training for eye care professionals to become proficient in prescribing and administering eye drops, leading to changes in the curriculum and continuous learning opportunities.
• A potential reduction in healthcare costs for vision correction, leading to more accessible and affordable eye care solutions for a broader segment of the population.
• The emergence of new marketing strategies and advertising campaigns focused on promoting eye drops as a preferred vision correction method, leading to shifts in consumer perception and brand positioning.
• Environmental implications due to reduced manufacturing and disposal of glasses and contact lenses, leading to decreased waste and a more sustainable approach to vision correction.

Questions to consider

• What niche use cases can you see for these eye drops can lenses and glasses cannot satisfy?
• How successful do you think Miotic eye drops will be given that they will need to be used a couple of times daily?