Innovation in Contact Lenses - Coursework Example

Innovation in Contact Lenses Introduction Contact lenses are direct glass lenses that are placed on the cornea to increase the visual acuity and correct various vision challenges. As compared to other forms of vision lenses, contact lenses are less embraced in other parts of the country due to lack of adequate information on their benefits or existence. Currently, 5% of the world population uses contact lenses for various purposes, with the majority residing in the United States and other developed countries. The contact lens market has however witnessed significant changes and is currently estimated to be over $6.1 million with the United States market contributing over $2 billion (Thakur & Gaikwad, 2014). Contact lenses are used for different reasons including aesthetics, cosmetics and medical reasons that explains its adoption in different sectors of the economy. The development of contact lenses began in 1801 and the market has witnessed significant changes and growth over the years. This Essays will provide a description of the development and growth of contact lenses in the cosmetic and medical market (Guzman-Aranguez, Colligris & Pintor, 2013). History of contact lenses Innovation in contact lenses is considered to have a long and rich historical background and is attributed to a number of 17th and 18th century world scholars. However, the idea of a contact lens was conceived by 15th century even though it took several centuries for this idea to be conceptualized and accepted within the society. Leonardo da Vinci is recognized as the pioneer mind in the development of contact lenses as we have come to know it today. In 1508, Vinci proposed several approaches that could be used to neutralize the cornea by developing lenses, which are in contact with the fluid (Guzman-Aranguez, Colligris & Pintor, 2013). Based on the this description, Vinci was highlighting how an innovation could be developed to become what we know today as the contact lens though he used a common language to bring his idea out. A century after Vinci made this description, Rene Descartes; a philosopher also described the power of a glass tube that has certain volume of water, an explanation which also reflected the idea of a contact lens in the same manner as Vinci (Guzman-Aranguez, Colligris & Pintor, 2013). This product provided significant comfort to its users and this lead to an increase in its demand in different parts of the world as compared to the lenses that came before it. The food and drug agency of the United States also approved the soft contact lens in 1971, becoming the first contact lens product to be recognized with the FDA in the country (Toor, 2014). innovations and discoveries on the contact lens has not stopped as different companies continue to develop more advanced and market friendly products. Based on the trend that has been set by pioneer contact lenses discoveries, the area is yet to reach its full potential within the global market. The introduction of new products and the increased demand for new version of contact lenses will increase the business opportunities for existing and emerging businesses in different economies. Literature review What is innovation? Innovation is the development of an idea, a device or a concept and pursuing the same for commercial purposes such as a full-fledged profit driven business. Innovation can lead to the development of a new product, redefinition of an existing product or the fusion of two products to create one superior tool. The drive behind innovation has been the need to eliminate the challenges facing products already in the market. Contact lens was introduced to eliminate the challenges associated with other glass lenses, which were cumbersome and injurious to the eyes. The first person to describe a contact lens was Sir John Herschel, an Englishman who believed that transparent animal jelly could be placed on human eye as a remedy for irregular astigmatism. John also believed that the mould and design of the cornea could be taken and simulated in a transparent media to produce a lens with the same or more power as the cornea of the eye (Thakur & Gaikwad, 2014). With this strong background in contact lenses, three independent scientists working in different labs adopted this principle to develop the first contact lenses. The first contact lens business was therefore initiated in 1880 by the three scientists who independently developed the contact lenses as a way of correcting any abnormalities in the eye of the patients. August Muller, a German also developed a contact lens to enable him correct his eye myopia and develop a better and more refined vision. These first modern lenses were crude and designed poorly, but provided a background for the development of an emerging product in the global market. These lenses were made of glass bubbles and ground-polished glass and were meant to cover the entire eye in order to improve the power of the cornea. Despite the poor and raw design of these contact lenses, the fact that they improved the visual acuity of the patient presented significant motivation to refine the technology and roll it out in large scale to meet the needs of different markets. The first contact lenses were introduced in early 19th century but were not accepted due to the perception of the people and lack of adequate technological advances to support their application (Guzman-Aranguez, Colligris & Pintor, 2013). However, 1930 witnessed significant changes and innovation to the contact lenses and these activities defined this innovation to what we know today as the modern contact lens. Different people had significant contributions to the development and innovations in contact lens from the 30s and this section will provide a brief overview of their contributions. William Feinbloom was a pioneer in optometry and contributed to the development and growth in contact lenses while working in buffalo, New York (Thakur & Gaikwad, 2014). In one of his consultations with a client, William realized that he had no technological abilities to help a client who was suffering from severe eye damage. This lead to the idea of developing the tinkered spectacles which could be mounted on the telescopes as a way of rehabilitating and recovering the visions of those affected by impending blindness. His pioneer contributions in the development of telescopes and low vision microscopes formed the basis for future research in contact lenses and other forms of optics (Guzman-Aranguez, Colligris & Pintor, 2013). By the 40s, different labs across the world were already manufacturing contact lenses for different markets but the demand was dismal due to lack of knowledge and information on the benefits of the devices. This was a significant progress that would push more innovators and businesspeople to adopt the large-scale product of contact lenses to meet the needs of the market (Thakur & Gaikwad, 2014). Most contact lens manufacturers in the United States during the early 20th century used polymethyl methacrylate (PMMA) to make the glasses, a material that was not gas permeable. Despite the early stage of the innovation, contact lenses could be worn for over 16 hours a day without a feeling of fatigue or accumulation of tears around the cornea. Most of these contact lenses were hydrophobic and this contributed to the discomfort that most user would feel especially if worn for a long period. However, 1959 witnessed a major discovery that revolutionized the business of contact lenses in different parts of the world. In this year, the first hydrophilic contact lens was discovered and was made using the hydrogel soft contact lens material (Toor, 2014). Types of innovation Innovation is driven by different desires across the globe and this has led to the development of different categories of innovation. Different types of innovation have been described which depends on the nature of the product or service introduced through the innovation process. Product innovation is the development of processes which are aimed at creating new products and introducing them into the market to meet the various needs of the market. This is the most commonly used type of innovation by various businesses as it seek to meet the needs of the end users. For example, contact lens falls under the product innovation type as it was driven by the need to address visual issues in patients (Thakur & Gaikwad, 2014). Process innovation is the second type of innovation and is characterised by the use of various processes to introduce new products or services into the market. For example, products used in relief setting are developed impromptu and aimed at meeting various needs created by the relief situation. Process innovation has led to the development and efficiency within the relief sector for humanitarian purposes. Position innovation is the third type of innovation and is aimed at repositioning the perceptions of the market towards existing products and processes. For example, the development of Levi-Strauss jeans was aimed at meeting the needs of casual workers, but was later re-innovated to meet the needs of youths and elite men in the society. Paradigm innovation is the final category of innovation and is concerned with the development of products aimed at improving the mental perception of the society. This form of innovation is also common within the humanitarian and health sector where products and services are developed to meet specific needs created by time (Papas et al, 2010) The development of silicon hydrogel technology has also increased the oxygen permeability of the eye and contributed to acceptability of the product in the market. However, Papas et al (2010) indicate that the presence of clinicians within the market is critical to improve the success of using contact lens products in different markets across the globe. Contact lens market, just as other industries are reliant on the response and feedback from the clients who provide an accurate and honest review of the products. Papas et al (2007) indicate that the role of clinicians in the contact lens market goes beyond the design or even sale of the product but into advising the client on how best to use it. What type of innovation contact lenses are? Contact lenses falls within the product innovation type as it was developed to address a particular situation in the market and to improve the performance of an organisation. Innovators in contact lenses were eye physicians who were driven by the desire to eliminate the challenges facing eye patients in different parts of the globe. However, profit making institutions supported their research with an aim of launching the product into the market and improving overall performance. Opticians and ophthalmologists have had different views towards the different trade names of contact lenses in the market majorly due to the impact it has on the consumers and the market as a whole. As a result, most businesses have proposed a change of name from contact lenses to ocular wave front tomography to demonstrate its ability to correct the off-axis aberrations. This will increase the application of contact lenses to include peripheral visions and in diagnostic imaging of the retina of patients (Papas et al. 2010). McCarthy (2014) discusses the growth and expansion of the contact lens market in the face of the high number of sector employees and the expectations for the future. Based on a study conducted by the national eye care workforce, there exists an adequate supply of doctors within this industry, which is adequate for the next 20 years. The study also revealed that the demand for eye care and specifically contact lenses is expected to increase over the next 20 years. This presents significant business opportunities to companies that have the adequate resources and capabilities to meet the needs and preferences of the target market. The contact lens market will thus increase to over $20.1 billion in 2018 and this will results into an increase in the level of research and development spending (Thakur & Gaikwad, 2014). High allocations to research and development will allow for the introduction of new technologies and ways of improving contact lenses to meet the varying needs of the market. However, McCarthy (2014) indicates that contact lenses will continue to dominate the market and grow to control approximately $14.4 billion of the entire market by 2018. The development of new rigid and hybrid technologies will also increase the presence of contact lenses within the market. This segment is also expected to increase its market control by 2018 to $196 million (Thakur & Gaikwad, 2014). Impact of contact lenses In Steiner, (2014), the contribution of contact lenses in the revenue of eye care products is discussed in the face of emerging competition in the optometry industry. The adoption of consumer needs and the development of high technology products will lead to an increase in demand for these products and this will contribute towards the overall growth in eye products revenue in the world (Guzman-Aranguez, Colligris & Pintor, 2013). According to a report released by vision watch in 2013, 16% of the total United States population wear contact glasses while over 21% of the total eye care patients are using contact lenses to improve their vision. This demonstrates that the market of contact lenses has witnessed a significant growth as compared to its performance in the last century (Steiner, 2014). Ten years ago, only 17% of the total United States population used contact lenses while less than 15% of eye care patients understood its benefit in improving their vision. The impressive performance of contact lenses has made it a significant contributor to the ECP revenue in most economies across the world. This has not been purely attributed to the high demand for contact lenses but rather due to the high expenditure that eye care patients on contact lenses. For example, during the early 80s, contact lens patients were forced to use over $60 on lenses annually, a value that pushed its contribution to the ECP revenue much higher (Steiner, 2014). Today, the annual purchases of contact lens patients has increased to over $106, a demonstration of the accelerating demand for the products and their prices within the market. Changes in consumer behaviours have contributed immensely to the growth of revenue from contact lenses in developed economies such as the United States and the United Kingdom. According to Axelrod (2014), the contact lens growth has outpaced the market over the last few years and this has been attributed to the growth in innovations (Thakur & Gaikwad, 2014). However, Axelrod (2014) indicates that not all opticians and eye care professionals have noticed the market gap of contact lenses and explored it. This has left the few industry players to enjoy the high demand, high product price and the performance of the industry. Though eye glass industry has also witnessed significant growth, Axelrod (2014) attributes the impressive performance of the contact lens sector to high innovation and introduction of market responsive products. The value of contact lens revenue has also outpaced that of other eye care products within the last few years according to the study results released by eye vision (Steiner, 2014). Types of contact lenses Different types of contact lenses exist in the market today and their performance and quality influence the market share controlled by the product producers. However, adapting to contact lenses presented a significant challenge to most users, and this affected long-term adoption of such lenses. This complication was brought about by the fact that the lenses were not gas or even water permeable and therefore increased the discomfort of the users. Tear interchange occurred whenever the wearer blinked and this increased the level of discomfort and affected its adoption in the market. Despite the challenges associated with PMMA, it was popular during the 50s because it is free from any toxic chemicals. It is made of an inert material, which makes it appropriate and preferred contact lens for non-regular use by patients who are suffering from eye challenges (Benoit, 2014). The development of silicon hydrogel technology has also increased the oxygen permeability of the eye and contributed to acceptability of the product in the market. However, Papas et al (2010) indicate that the presence of clinicians within the market is critical to improve the success of using contact lens products in different markets across the globe. Contact lens market, just like other industries are reliant on the response and feedback from the clients who provide an accurate and honest review of the products. Papas et al (2007) indicate that the role of clinicians in the contact lens market goes beyond the design or even sale of the product but into advising the client on how best to use it. To address the challenges associated with the PMMA lenses, soft lenses were introduced with stronger and more efficient water absorbency abilities. As a result, soft lenses are more comfortable as compared to the hard lenses such as the PMMA that were used during the 50s and wearers have a high adaptability as compared to the hard lenses (Benoit, 2014). However, the bag of water phenomena in soft contact lenses during the optimization of images when using these lenses, thus affecting the accuracy and visual acuity of the users. Individuals with difficult multifocal correction find soft lenses preferable as compared to hard PMMI lenses despite the negative implication of the water effect on the resolution of the image and view. Other special challenges associated with soft lenses include the hydrogel construction and the high fluid content, which affects the concentration of the users. The presence of water provides an environment for microbial growth and this increases instances such as bacterial infection among soft contact lens users (Schaeffer, 2013). Contact lens complications Despite the impressive performance of contact lenses in the market, consumers have experienced significant complications according to Benoit (2014). The process of nurse wearing exposes patients to a number of injuries unless a professional eye care is employed. A number of factors have been cited to increase the complications associated with wearing a contact lens without the help of an eye care professional. These include issues associated with dryness discomfort and toxicity reaction, which contact lens professionals wear. Such complication has led to the demand for more eye care nurses within the contact lens industry, further pushing the cost of the products higher. Nurses have a number of options that they can employ to eliminate the challenge of complication as described by Benoit (2014). Gas permeable lenses have been preferred to other dry lenses due to the few complications that they cause and this has pushed up the demand for the permeable lenses. The accumulation of bio burden is also a common challenge associated with the use of contact lenses in eye patients. This has led to the need for a daily disposal of the contact lenses, a development that favours the manufacturers as compared to the user. Patients have been forced to increase their purchases in order to dispose their contact lenses daily as opposed to after certain duration of time (Schaeffer, 2013). Competition in contact lens industry Just like in other market industries, the contact lens industry has witnessed significant competition and the adoption of approaches aimed at improving the performance of various companies. Though competition in this industry has been silent, dominant companies have adopted a number of approaches, which has prevented the entry of new players and the growth of small-scale industry participants. In Hungary, for example, the competition office fined a number of contact lens industry players for failure to comply with the competition laws established in the country. For example, Cooper Vision was fined a significant amount of money for adopting anti-competitive behaviours, which are against market ethics (Schaeffer, 2013). To remain relevant, competition has pushed major industry players to embrace acquisition and mergers as a way of reaching out to new markets in the globe. Though consolidation has slowed down in the recent past, major mergers and acquisitions were witnessed in the past and this demonstrated that the market has high stakes. For example, CIBA vision acquired the Wesley Jessen vision as a way of entering into the United States market and increasing the presence of its contact lens products in the market (Eisenberg, 2000). Cooper Vision also acquired Biocompatible as a way of entering new markets and increasing its level of market control. Such acquisition and merger trends that the industry has witnessed in the past demonstrate that the contact lens market is growing and witnessing significant changes (Schaeffer, 2013). Mergers and acquisition has significant impact on the fate of the contact lens patients and practitioners in the lens care industry. For example, mergers and acquisition affect the availability of products in the market due to the need to restructure the operations of the acquired business unit. Discontinued and back-ordered issues arise when mergers and acquisitions occur in the industry and this increase the challenges experienced by contact lens customers. More consolidation in the contact lens market reduces the level of competition and result into the growth of a monopoly or oligopoly like market. Such a market situation result into an increase in the price of the products much to the ostentation of the customers and satisfaction of the industry participants (Benoit, 2014). Emerging trends in contact lenses Discoveries in contact lenses have not ceased as more innovations and improvements are currently being witnessed in optometry and other fronts of eye care. For example, ocular pharmacology presents an opportunity for using contact lenses for drug delivery in instances where treatment of eye complications is involved. Ophthalmic drug delivery has significant challenges and most pharmaceutical companies have explored several alternatives in eye care, including the use of contact lenses to delivery drugs. This approach is believed to increase the residence time of drugs on the surface of the eyes, thus improving the bioavailability of a given drug administered (Schaeffer, 2013). Opticians and ophthalmologists have had different views towards the different trade names of contact lenses in the market majorly due to the impact it has on the consumers and the market as a whole. As a result, most businesses have proposed a change of name from contact lenses to ocular wave front tomography to demonstrate its ability to correct the off-axis aberrations. This will increase the application of contact lenses to include peripheral visions and in diagnostic imaging of the retina of patients (Papas et al, 2010). McCarthy (2014) discusses the growth and expansion of the contact lens market in the face of the high number of sector employees and the expectations for the future. Based on a study conducted by the national eye care workforce, there exists an adequate supply of doctors within this industry which is adequate for the next 20 years. The first contact lenses were introduced in early 19th century but were not accepted due to the perception of the people and lack of adequate technological advances to support their application (Guzman-Aranguez, Colligris & Pintor, 2013). However, 1930 witnessed significant changes and innovation to the contact lenses and these activities defined this innovation to what we know today as the modern contact lens. Different people had significant contributions to the development and innovations in contact lens from the 30s and this section will provide a brief overview of their contributions. William Feinbloom was a pioneer in optometry and contributed to the development and growth in contact lenses while working in buffalo, New York (Thakur & Gaikwad, 2014). In one of his consultations with a client, William realized that he had no technological abilities to help a client who was suffering from severe eye damage. This lead to the idea of developing the tinkered spectacles which could be mounted on the telescopes as a way of rehabilitating and recovering the visions of those affected by impending blindness. His pioneer contributions in the development of telescopes and low vision microscopes formed the basis for future research in contact lenses and other forms of optics (Guzman-Aranguez, Colligris & Pintor, 2013). Conclusion Contact lenses have witnessed significant growth over the years since pioneer scientists in optometry introduced it several decades ago. Today, contact lens is a multibillion market, which contribute significantly to the development of various economies across the world. The industry has witnessed significant changes with the entry of new players, expansion of the products and development of more customer specific goods. In this paper, the contact lens industry has been discussed in relation to its contribution in the market and the eye care. References Benoit, D., 2014. 10 Ways to Avoid Contact Lens Complications, Review of Optometry, pp. 26-28. Eisenberg, J., 2000. Episode 2: Tomorrows Contact Lens Practice Can You Adapt? (Cover story), Review Of Optometry, 137, 2, p. 56. Guzman-Aranguez, A., Colligris, B. & Pintor, J., 2013. Contact lenses: promising devices for ocular drug delivery, Journal of Ocular Pharmacology and Therapeutics, 29, 2, pp. 189-199. McCarthy, C.E., 2014, Contact lens market expected to grow to $20.1 billion by 2018, Optometry Times, 6, 7, pp. 1-6. Papas, E., Wolffsohn, J. & Jones, L., 2010. Innovation in contact lenses: basic research and clinical science, journal of optometry, 3, 123-124. Schaeffer, J., 2013. Dry Eye: Getting Down to Business, Review of Optometry, 150, 4, pp. 28-33. Steiner, T., 2014. Making Contact Lenses = Greater Share of Practice Revenue, Vision Monday, p. 10. Thakur, D, & Gaikwad, U., 2014. Microbial contamination of soft contact lenses & accessories in asymptomatic contact lens users’, Indian Journal Of Medical Research, 140, 2, pp. 307-309. Toor, T., 2014. Competitive analysis of a contact lens market, Strategic Direction, 30, 7, pp. 34-37. Read More