Ophthalmic med tech market hit harder than pharmaceuticals during pandemic
The ophthalmic pharmaceutical market has been less affected than the technology and device market during the ongoing COVID-19 pandemic, but all sectors are down, according to a leading industry expert in an Eyecelerator LiveStream presentation.
“There’s no doubt there’s a difference across the sectors, but I think if you look at the industry as a whole, elective procedures have turned down. Ophthalmology requires devices or med tech use for these procedures, and that’s been seen across the board. There’s definitely been a more significant impact on the devices side,” Jag Dosanjh, Allergan senior vice president, specialty therapeutics, said during the presentation.
In the first of a series of LiveStream events hosted by Eyecelerator, four ophthalmic industry leaders discussed the effect of the pandemic on the ophthalmic market. David Endicott, Alcon CEO; Warren Foust, Johnson & Johnson Vision worldwide president, surgical division; Jim Mazzo, Zeiss global president, ophthalmic devices; and Dosanjh participated in the inaugural livestream, which was moderated by Eric D. Donnenfeld, MD, and Gil Kliman, MD.
The pharmaceutical market has been stable. Patients have had steady access to their ophthalmic medications, whether for glaucoma or dry eye or as over-the-counter therapies, despite a trend of patients stockpiling 90-day supplies of their medications in late March, Dosanjh said.
As countries and states begin to reopen, the med tech market should begin to recover, he said.
“We’re trying to make sure patients have access to the right things. We’ve deployed all of our savings programs for their medications so patients can get them at zero cost in a commercial area. We’re trying to do these things to ease access to medications, and that’s the biggest focus we’ve had over the first few weeks,” Dosanjh said. – by Robert Linnehan
Reference:
Rethinking ophthalmology post-COVID-19: Business opportunities, challenges, and impact on innovation. Presented at: Eyecelerator LiveStream; April 15, 2020 (virtual meeting).
Disclosure: Dosanjh reports he is Allergan senior vice president, specialty therapeutics.