Market Opportunity

The Presbyopic market potential for the LRG solution is significant as presbyopia affects virtually everyone in the latter decades of life. The macro market for utilization of the LRG solution is all persons aged 35-49, which is currently 64 million people in the United States alone.

Each year, approximately seven percent of eligible persons opt for a refractive surgical solution to correct myopia (nearsightedness) and/or hyperopia (farsightedness). Using this percentage as a corollary for LRG’s presbyopia treatment, the company estimates an overall domestic market opportunity of 4.1 million procedures annually, generating $8.4 billion in gross industry revenue based upon a cost of $1,000 per procedure.

Americans annually spend $629 million on over-the-counter readers and $9.05 billion on bifocal spectacles and contact lenses. This totals $9.7 billion in readily identifiable U.S. annual spending that is directly attributable to managing presbyopia. LRG’s treatment would be a “fee for service” opportunity similar to most refractive procedures today.

LRG’s share of the JV revenue will be derived from IP license fees, software license fees, and apparatus license fees (“click fees”) as well as consumable items per procedure. Additional revenue can be generated through additional strategic alliances.