Pentax 2011 Annual Report Download - page 47

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Fiscal 2011 Business Overview and Results Outlook for Fiscal 2012
Fiscal 2011 Business Overview and Results
The global economy remained overcast in 2010. Yet, it was
against this backdrop that the global market for intraocular
lenses (IOL) in the surgical treatment of cataracts grew 7% to
8% in size. In terms of the number of these cataract
procedures, growth among major markets was approximately
3% in the U.S., 1% in Japan, 2% in Western Europe and 6% in
China. Among emerging markets, India in particular exhibited
exceptional growth. Longer term, the dollar value of this global
market for cataract procedures is projected to grow from an
estimated US$2.2 billion in 2010, to US$3.3 billion in 2015.
Currently the majority of IOL surgically implanted to replace the
eye’s clouded crystalline lens and restore vision are standard,
aspheric single-focus lenses. But there is also a growing market
for premium IOL, with a variety of corrective functions, that an
increasing number of patients concerned with their quality of life
are willing to pay for. Such premium, micro-incision IOL and
toric IOL for correcting astigmatism, multi-focal IOL, and even a
special IOL Hoya is developing for correcting presbyopia. This
premium segment, involving not only the developed markets but
the wealthier patients from China, India and other emerging
markets, is where much of the market growth is expected to
concentrate over the next five years.
Hoya is the fastest growing IOL company globally, particularly
in the micro-incision IOL and enhanced monofocal segments. It
is also the first company in the world to package soft
hydrophobic IOL, lathe-cut to precision*, in a novel pre-loaded
surgical insertion system. Together, this package delivers safe
and efficient procedures for surgeons, while minimizing the incision size and surgically induced
astigmatism. Combining such superior products with agile marketing, Hoya’s market share of
IOL increased in practically every region of the world; from Japan, the U.S. and Europe, to Asia.
Moreover, the Company waged a very successful brand awareness campaign involving
presentations at medical congresses in the U.S. and reports published in various medical
j
ournals, among other tactics.
The fiscal year in review was also the year in which Hoya’s IOL business truly began to
globalize. In the U.S., the single largest IOL market in the world, a business Hoya launched in
2009 with the iSert™ preloaded IOL system performed exceedingly well. No more than two
years after establishment, this embryonic business captured 4% to 5% of the market share
where the three other key competitors controlled the remaining 93%. This was an exceptionally
good start. Currently, the Company has three major IOL products in the U.S. undergoing clinical
Intraocular Lenses (IOL)
IOL Global Market size
iSert™ pre-loaded IOL delivery
system