NEW YORK, Dec. 22, 2022 (GLOBE NEWSWIRE) -- While medical devices have seen incredible advancements over the last 100 years, ocular drug delivery systems have seen minimal progress; the standard eye dropper used today has gone largely unchanged in the last century. Eyenovia, Inc. (NASDAQ: EYEN), a pre-commercial ophthalmic technology company developing a pipeline of late-stage microdose array print (MAP™) therapeutics, is developing one of the first microdosing systems that aims to improve the overall patient experience and streamline practice flow by facilitating digital delivery of eye medications.
The investigational delivery device is currently only used in clinical study settings and has shown promise in delivering cleaner and more efficient ocular drug delivery. "The proprietary Eyenovia device takes a novel approach to administering eye medication via microdosing and does it in a way that should improve the patient experience," said Michael Rowe, CEO of Eyenovia. "Traditional eye droppers are cumbersome, inaccurate, and prone to contamination. Even when handled with care, there's still a significant likelihood that medication patients are paying for gets wasted due to missing drops."
The device is uniquely designed with no protruding parts and a recessed nozzle to not touch patients' eyes, reducing the likelihood of infection. Eyenovia also expects a more gentle dosing experience to create a fundamental paradigm shift in eye care.
Eye drop innovation has stagnated, in part due to changing medical device regulations that complicate patient access to innovative devices. Safety takes precedence in the medical device industry; however, as digital innovation leaps ahead of bureaucratic regulatory bodies, regulators are challenged to keep pace with the cutting-edge new products that push the boundaries of technology.
While the world of healthcare looked significantly different 100 years ago, similar paradigm shifts in medical technology through innovations like pacemakers, cochlear implants, 3-D printed body parts, and artificial hearts revolutionized their respective industries, greatly improving quality of life and patient care. With a market share valued at roughly €100 billion in Europe, medical devices make up 7.5% of healthcare expenditure in most publicly funded healthcare systems, and the American ecosystem is taking notice.
As American private venture capital makes inroads into the digital health market, the total capital investment in medical devices has increased by a factor of five, which portends a promising future for improved patient care. Medical technology device advancement is only expected to increase over the next five years, and Eyenovia is one of those industry leaders in championing innovation.
"We're proud to be innovating in this space where we have the potential to make lives easier for millions of Americans and people worldwide suffering from chronic eye conditions," adds Rowe.
For more information, visit eyenovia.com.