Carl Zeiss Meditec AG Deep Dive Q&A | US Market Strategy: Refractive & Cataract Innovations

Carl Zeiss Meditec AG Deep Dive: Q&AQ&A with Carl Zeiss Meditec AG’s Head of Investor Relations, Sebastian FrericksUS Refractive Market Performance and Competitive LandscapeHas refractive competition increased in 2024, particularly from J&J’s ELITA or Staar Surgical?- J&J’s ELITA: While J&J has entered some markets with their ELITA system, it has yet to gain significant traction in major markets like the US and China due to regulatory hurdles and limited product features. Notably, the system lacks approval for its SILK procedure, which is positioned as a competitor to ZEISS’s SMILE therapy.- Staar Surgical: The overlap between ZEISS’s laser-based refractive solutions and Staar Surgical’s ICL (implantable collamer lens) business is minimal. ICLs cater to niche cases, such as high myopia corrections, where laser-based therapies have limitations. ZEISS maintains a competitive edge in broader applications due to its extensive track record and safety profile, with over 10 million SMILE procedures performed globally.- Strategic Positioning: ZEISS is poised to strengthen its competitive edge with the upcoming rollout of the VisuMax 800, a more advanced platform designed to enhance procedure speed, precision, and patient outcomes. How is your US refractive business performing amid reports of soft demand?- Market Trends: The US market has faced a decline in refractive procedure volumes in 2024 due to high interest rates and reduced consumer spending capacity. Unlike Europe or Asia, a large proportion (approximately 65%) of US refractive procedures are financed, making the market particularly sensitive to macroeconomic conditions.- Outlook: Despite the challenges, the US refractive market holds significant potential. The market size remains underdeveloped relative to historical highs, with 700,000-800,000 annual procedures, far below its peak. ZEISS’s technology, particularly the minimally invasive SMILE therapy, is well-positioned to capitalize on market recovery as economic conditions improve and consumer confidence returns.What’s your outlook for US equipment sales recovery after Q3 order trends?Stabilization: US equipment sales began stabilizing in Q3 FY24, with improving order entries and a book-to-bill ratio above 1 in the months preceding fiscal year-end. Early trends in FY25 continue to show positive momentum.Growth Drivers: ZEISS is optimistic about growth in FY25, driven by the anticipated FDA approval of the VisuMax 800 platform in mid-2025. The new platform is expected to attract significant demand from clinics aiming to upgrade their technology and enhance patient offerings.What feedback are you getting on the ZEISS cataract workflow?- Market Reception: The ZEISS cataract workflow continues to be well-received, offering a comprehensive and integrated solution for cataract treatment. Feedback highlights the value of combining diagnostic imaging, surgical planning, and premium IOLs (intraocular lenses) within a single platform.ConclusionSebastian Frericks highlights Carl Zeiss Meditec AG’s resilience amidst market challenges, emphasizing the company’s strategic initiatives and leadership in innovation. With advanced products like the VisuMax 800 and comprehensive cataract workflows, ZEISS is well-positioned for recovery and long-term growth in the US market. ▶️ Other videos:Elevator Pitch: https://seat11a.com/investor-relations-elevator-pitch/Company Presentation: https://seat11a.com/investor-relations-company-presentation/Deep Dive Presentation: https://seat11a.com/investor-relations-deep-dive/Financial Results Presentation: https://seat11a.com/investor-relations-financial-results/ESG Presentation: https://seat11a.com/investor-relations-esg/===============================T&CThis publication is for informational purposes only and does not constitute investment advice. Using this website, you agree to our terms and conditions outlined on www.seat11a.com/legal and www.seat11a.com/imprint.