Top institutions have repeatedly chased their investment and product income doubles.

During the summer vacation, Mr. Liu from Chongqing took back the corner membrane shaping mirror and sent a circle of friends: the first supporting film film shaping mirror, the daughter felt that the world was much clearer.

What surprised him was that parents of children in the circle of friends in the circle of friends left messages and communicated with corneal shaping mirrors. Earlier, Mr. Liu thought it was just an unpopular product until the doctor suggested that the 11 -year -old daughter matched and found that it was so popular among the surrounding children.

Indeed, under the increasingly important trend of myopia prevention and control, as one of the three main force prevention and control methods, corneal shaping mirrors are growing rapidly, and domestic brands have also accelerated their volume. At the size of tens of billions of markets, the pace of product innovation and commercialization are accelerating.

Product heat sales, surge in income, corneal shaping mirror high heat

Just in the past summer vacation, the optical clinic of the ophthalmology institution ushered in the traditional peak period, and the corneal shaping mirror became the "top flow" product.

"It takes a long time from testing and lens to wear to wear; patients need time to learn, wear and care, and the holiday time is relatively abundant. · Kuang Yi, deputy dean of Chongqing Eye Ophthalmology Hospital, told the arterial network that this summer, patients with an internal corneal shaping mirror of the hospital increased by 20%compared with last year, and some of them were excluded because of the failure of the eye. The comparison of corneal shaping mirrors in the number of mirrors increased by 10%last year.

In fact, the corneal shaping mirror has previously shown a rapid growth trend, and corporate revenue data is an important evidence.

The Pinoto corneal shaping mirror of Aibo Medical has continued to volume since it has been approved in 2019 to maintain high -speed growth. In the first half of 2022, the operating income of Pinotong corneal shaping mirror was 75.93 million yuan, an increase of 71.7%year -on -year; much higher than the company's overall income of 32.33%; in 2021 and 2020, the product revenue realized 159.5%and 479.6, respectively. %Of high growth.

In 2021 and 2020, Opaconia's Dream Drimpylum Cordon Shapeing Mirror achieved revenue of 670 million yuan and 522 million yuan, respectively, an increase of 28.5%and 19.2%year -on -year; in the first half of 2022, revenue was 346 million yuan, a year -on -year increase of 3.8%. The growth of the epidemic has slowed down.

In 2022, the corneal shaping mirror of the domestic market adds new products: the vision of the cornea shaping mirror is listed, and the corneal shaping mirror products of Tiantong Medical and Mili Kang were approved. At present, the approved products have increased to 14 species.

The corneal shaping mirror products that have been approved by NMPA, source of data: NMPA official website

From the perspective of the summer vacation mirror peak feedback from medical institutions, in the second half of the year, the scale of corneal shaping mirror income is expected to further grow.

With the continuous approval of the product and the rise in the end of the end, the market penetration of the corneal shaping mirror has continued to expand in recent years. According to Haitong Securities Research Report, the penetration rate of corneal shaping mirrors in my country is about 1.6%. This data has increased significantly from less than 1%a few years ago.

The new product continues to develop, differentiated from the four directions

Although the penetration rate has risen, many research institutions have pointed out that compared with the penetration rate of 5%-10%of neighboring countries in Europe and the United States, my country's corneal shaping mirrors still have huge space.

As a result, a group of enterprises have deployed corneal shaping mirrors to develop or have to upgrade existing products; especially domestic brands are catching up.

Rich products means that doctors and patients have more choices, and also means that companies face more intense competition. Differential positioning has become the basic principle of product development. On the whole, each enterprise mainly focuses on the scope of application, design, and materials.

Some companies' corneal shaping mirrors products are developed and upgraded or product layout, information source: public report

The first is the expansion of the scope of the degree.

At present, the launching cornea shaping mirror is mainly applicable to myopia within -4.00D, and a few can reach -5.00D; before the scope of the number of increased expansion of the Pinotong cornea shaping mirror of Aibo Medical, only Opangshi Shi Shi Shi Shi Shi Shi The dream-wear-wearing corneal shaping mirror is suitable for myopia within -6.00D.

In June 2022, the application of the scope of the applied expansion of the medical increase in the medical treatment was approved. According to the medical device registration information of the State Drug Administration, this product is expanded from previous applications to -1.00D ~ -4.00D: within -4.00D ~ -6.00D, the scattered glory does The wearers who do not exceed 1.50D in the counter -rules can temporarily correct the vision to a certain extent.

The scope of expanding the degree means that covering more patients is to enhance product competitiveness for enterprises; for the industry, it helps to increase the penetration rate.

In terms of design, the design is improved on the premise of personalization and comfort.

The reason why the corneal shaping mirror can achieve shaping effect is because the lens is specially designed; the design method determines the lens correction effect and wearing comfort.

"Although the corneal shaping mirror is customized according to the patient's eye check parameters, in practice, the individual patients have different experience in the comfort of the product. Some products of the same brand feel comfortable and some feedback. It is related to the individual differences of patients and the degree of myopia. "Kuang Yi said.

Therefore, design with personalization and comfort is increasingly important.

For example, Aikangt's corneal shaping mirror products, compared to the current VST and CRT design, have a more novel and unique design, and strive to bring a better wear experience to patients. Wells designed a full -lens ring curved cornea shaping mirror, which can also correct myopia and variable astigmatism at the same time; and the design of the arc area with personalized positioning arc is improved to improve the permanent power and the comfort of the patient's wearing.

In terms of materials, autonomous materials continue to break through.

In the past, the corneal shaping mirror of the domestic market not only focused on imports, but also the materials of domestic brands also mainly relied on imports. In recent years, domestic brands have made breakthroughs in the autonomy of materials, and enhanced competitiveness from the source.

Hao Haishengke acquired Contamac in 2017. Contamac is one of the world's largest independent optical materials producers, providing raw materials for optical products such as artificial crystal and corneal mirrors in more than 70 countries and regions in the world. At present, Hao Haishengke uses the independently developed optical design system. Based on CONTAMAC high -transparent oxygen materials, the clinical trial has been completed and is registered and declared.

Aibo Medical also previously purchased Contamac materials. However, since 2017, it has started the research and development of independent materials and compared with outsourcing materials to comply with consistent evaluation standards. After the self -made materials were approved in 2020, Aibo Medical successively put it into production and gradually replaced the outsourcing materials. In August 2022, Aibo Medical said in the survey that the cornea -shaped mirror material has all been converted to its own.

Recently, Opacon also revealed during the investigation that the company's self -developed lenses have passed the full performance testing and biological evaluation of the National Drug Administration's testing center. At present, standardized production workshops are currently preparing. cost.

"For domestic brands, raw materials need to be self -sufficient as soon as possible." Lu Jing, the person in charge of Aikangte Medical Division, believes that design and craftsmanship must have domestic alternative thinking. At present, Aikangt's corneal shaping mirror products also use mainstream imported materials. At the same time, the R & D team has actively deployed raw materials research and development, and has formed good progress.

After the product is put into the market, the service capacity will also be one of the dimensions of differentiated competition between enterprises.

Corneal shaping mirrors have complicated and time -consuming steps, testing the service efficiency of the terminal agency.

In Lu Jing's view, corneal shaping mirror manufacturers not only provide products to medical institutions, but also output services. For example, to create digital tools, improve the efficiency of allocation, establish a training system, and help medical institutional training for talent training. At the same time, strive to provide a wealth of solutions for medical institutions through diversified product matrix.

"At present, the penetration rate of corneal shaping mirrors in the provincial capital -level cities is relatively high. In the next step, if the market sinks, manufacturers need to have the service capabilities of the sinking market." Lu Jing said that in the future The qualifications are relaxed. Once an independent vision outpatient or optical center also has verification qualifications, the diversification of the format also requires manufacturers to establish professional teams to cooperate with dealers to serve the terminal institutions. "There is no doubt that service capabilities will become one of the competitiveness of manufacturers to expand their market share."

Favorite capital, top institutions have invested multiple times

In the field of corneal shaping mirrors, two listed companies of Opangshi and Aibo Medical have been running out; Hao Haisheng's products are about to be approved to be listed.

The first -level market, investment institutions' attention to the upstream of ophthalmology is also optimistic about corneal shaping mirrors; Sequoia China, Qiming Venture Capital and other institutions, and even continuously invest in the same company.

Among the several rounds of financing that Aikite was established so far, he has received Charba Investment, Sequoia China, Temasek, Qingchi Capital, Sanzheng Health Investment, Songhe Capital, Honghui Fund, Yuansheng Venture Capital, Fosheng, Heng, Heng The favor and investment of Qinjin Investment. The company focuses on a full set of solutions for eye vision innovation equipment, layout a number of product lines such as hard mirrors, soft mirrors, ophthalmic diagnostic equipment, nursing solution, and innovative materials.

In the eyes of investors, eyesight is a cross -border field with both medical and consumer attributes. In recent years, consumption upgrade demand is strong. The high technical threshold has led to relatively insufficient supply, which limits the market penetration rate of strong demand products such as corneal shaping mirrors. The domestic emerging brand with solid technology and intuitive markets has potential to become a vital army that meets market demand and even drives market demand.

In 2020, Le Mingwang completed hundreds of millions of yuan C financing led by Gao Yingchuang to invest in hundreds of millions of yuan in Series C. In the previous two rounds of financing, Qiming Venture Capital was continuously obtained in the two rounds of financing. Leading and joint investment.

With key materials as the core, innovative and upgraded in various ophthalmological high -value consumables, forming a rich product portfolio -related artificial crystal -shaped body, as well as diverse product matrices including corneal shaping mirrors, ICL and other products. Important reasons for top institutions.

The continuous blessing of star institutions has laid a solid foundation for the material breakthroughs of the domestic brand cornea shaping mirrors, product development and commercialization, but also one of the industries with high growth.

The survey released by the National Health and Health Commission shows that in 2020, the overall myopia rate in my country is as high Correction has become a major health issue that has widespread concern and urgently needed to solve.

Haitong Securities Research Report pointed out that referring to the specific indicators of myopia prevention and control in 2030, combined with the developed Japanese market that develops a more mature Japanese market, assuming the penetration rate is 10%, the domestic corneal shaping mirror is expected to reach 68.41 billion at the end of 2030 Yuan. The recommended replacement cycle of the corneal shaping mirror is one year. In reality, the products with better care can be extended to one and a half years. After the expiration, it must be fully checked according to the situation.

"Among the patients wearing corneal shaping mirrors, they have taken the initiative to abandon wearing less. Some patients in our hospital have been worn for 5 years." Kuang Yi mentioned that most of the patients gave up wearing Inappropriate, or be promoted to high -level learning busy, there is no time to care for products.

In addition, corneal shaping mirrors require special care products, including nursing solution, protein products, etc., which cost thousands of yuan per year, which will also be attached to the scale of the lens market.

On the whole, the market space of the corneal shaping mirror is huge and will be in a stable growth.

The hard mirror is popular, the soft mirror is here again

This summer vacation is not just a corneal shaping mirror more popular. In the field of myopia prevention and control, another hidden lenses products are "born in the sky."

In July 2022, Misight soft water contact mirror under Kubo Optical was listed in mainland China. Misight is the first and only soft contact mirror that is currently approved by the FDA for initial wearing children 8-12 years old. After being approved by the FDA in 2019, 2020 is listed in the United States. In 2021, Misight was approved by NMPA.

According to NMPA registration information, Misight is suitable for initial wearing age 8-12 years old, refractive to -0.75d ~ -4.00D and scattered lights not greater than 0.75d. Essence

In other words, this "daily throw" soft contact lenses can be used for control of children's myopia growth; its special features are that the product uses a concentric double -focus design, and some optical districts can focus on the retina, forming myopia, and formation of myopia. Leave the scorch, to delay the long change of the patient's eye axis.

The previous research results released by Kubukuke show that Misight's forward-looking multi-center random dual-blind clinical trials have been enrolled in Asia, North America and Europe. Misight controls the effects of adolescent myopia during three years in comparison of single -focus daytime soft mirrors.

Taking the relative change of the average alphabration (the spherical mirror of the dungeon) as the efficacy indicator, Misight delays 59%of the development effect of myopia; with the axis axis growth of the relative differences as the efficacy indicator, its myopia control effect reaches 52%.

At the same time, the double focus design contact mirror has high acceptance among children's patients, and has no significant impact on its daily life such as school activities, reading, outdoor sports, and computer use. In addition, there were no significant eye adverse reactions during the follow -up.

Although there is currently no study that Misight is directly compared with the corneal shaping mirror, it is also used as a "prescription" contact lens that delay myopia, and there will be competition points.

Compared with the corneal shaping mirror, Misight's biggest advantage is "soft". In terms of intuitive, it is no different from ordinary contact lenses. For children, psychological acceptance will be higher and wearing adaptation faster.

However, although MISIGHT has handed over many research data, there are still limitations. In order to further observe the long -term safety and effectiveness of the product in the Chinese population, Kubo Optics needs to conduct a clinical follow -up study of the Chinese population after listing, and compare it with the routine soft hydrophilic mirror of the listing. The data can be used to evaluate. The evaluation content of the follow -up research includes but is not limited to the patient's visual experience, adverse events, stability of refractiveness after stopping, changes in the length of the eye shaft after three years, etc. At the same time, it is necessary to pay attention to infective keratitis during wearing The situation occurred.

At the same time, according to the registration requirements of NMPA, MISIGHT also needs to be checked by the ophthalmologist with an ophthalmology of an intermediate titles or above the medical institution and regularly conduct a review.

Comparison of corneal shaping mirror and Misight product characteristics

Source of data: NMPA, "Society of Stomatoscopy Mirror Examination Process (2021)" and public reports

Compared with the above figure, Misight and corneal shaping mirrors have their own advantages in terms of applicable range, nursing convenience, and expenses. On the whole, Misight undoubtedly provides a new choice for children's myopia prevention and control, but due to the short listing time and limited applicable people. For safety and effectiveness, it remains to be observed whether the products can be quickly popularized in the short term remains to be observed in the short term. , It is not necessarily impact on the cornea shaping mirror market.

In the long run, the corneal shaping mirror is still far away, especially domestic brands.

Once Misight was approved by FDA and was listed in the United States, the next market was aimed at China soon, which once again verified the value of multinational ophthalmologists to the Chinese market. At the same time, in the past two years, imported corneal shaping mirrors such as Meilikang have entered the country.

In the future, whether it is competition in the field of corneal shaping mirrors or competition with similar products, it will be more intense. Do domestic brands need to further enrich myopia prevention and control products on the basis of corneal shaping mirrors and seize the market as soon as possible? It is worth thinking.

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