Refractive procedures could possibly be affected by risky financial local weather
Key takeaways:
- Affected person pay procedures are more likely to be impacted by a risky financial local weather.
- Progressive, in-demand know-how may insulate ophthalmic segments from an unpredictable market.
PARK CITY, Utah — Segments that embody affected person pay or elective procedures are more likely to be impacted by a risky financial market, in accordance with a speaker at Eyecelerator.
Kirsten Harmon Ingenito, MBA, CEO of Market Scope, gave an replace on the ophthalmic market. She mentioned the way in which monetary markets have responded to current authorities coverage modifications. Whereas the general ophthalmic market was price $48.8 billion in 2024, and there’s potential that some segments may see development sooner or later, Ingenito mentioned some components of ophthalmology may battle in an unsure economic system.
Picture: Alex Younger
“The 2 particular segments I wish to take a look at are refractive surgical procedure and IOLs as a result of there’s the affected person pay or elective part,” she mentioned. “These are those which might be more than likely to be affected by a risky financial local weather.”
Ingenito mentioned two main unsure market climates additionally had an affect on refractive surgical procedure: the 2008 recession and the COVID-19 pandemic. She defined that the demand for refractive surgical procedure first began to see a decline late in 2007 earlier than taking an enormous hit in 2008. There was not a lot restoration within the refractive market till about 2017, and it was impacted shortly afterward by the COVID-19 shutdowns.
“The years that we have been up above common have been marked by financial optimism, a booming housing market and low unemployment,” she mentioned. “These are all issues that have an effect on that 18-to-40-year-old demographic fairly considerably.”
For presbyopia-correcting IOLs, Ingenito mentioned she didn’t observe the identical decline famous in refractive surgical procedure. Sufferers on this section could possibly be extra insulated from financial volatility, she mentioned, and new merchandise additionally got here to market proper on the time of the financial downturn, like ReSTOR (Alcon) and Tecnis (Jonson & Johnson) earlier than the 2008 recession in addition to PanOptix (Alcon) and Vivity (Alcon) earlier than the COVID-19 pandemic.
“What that tells me is, though we’re taking place a bit of bit when it comes to [presbyopia-correcting] penetration, the opposite sorts of fashions stepping into are gaining some momentum,” Ingenito mentioned. “This market has loads of pull from the know-how that’s being launched, which provides me loads of optimism with all of you right here speaking about your new know-how and what that may do for the market.”
Sources/Disclosures
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Ingenito KH. Ophthalmic market view: The occasions they’re a-changin’. Introduced at: Eyecelerator; Could 2, 2025; Park Metropolis, Utah.
Disclosures:
Ingenito studies being CEO of Market Scope.
