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【华创医药】爱博医疗深度研究报告:眼科器械领域创新先驱,“医疗+消费”双驱动

Core Viewpoint - Aibo Medical is a leading innovator in the ophthalmic device sector, focusing on intraocular lenses, orthokeratology lenses, and contact lenses, with a stable revenue contribution of approximately 90% from these core products [3]. Group 1: Intraocular Lenses - Aibo Medical is recognized as a domestic leader in intraocular lenses, with a comprehensive product system and strong performance in national procurement [4]. - The company has introduced the first domestic toric intraocular lens for astigmatism correction and the first dual-focus intraocular lens, which is the only product meeting the "vision improvement" criteria in national procurement, enjoying a 20% premium [4]. - The company is advancing clinical projects for trifocal lenses and EDoF technology, which enhances imaging quality, with EDoF lenses already sold in Europe and progressing in domestic registration [4]. Group 2: Orthokeratology Lenses - The global prevalence of myopia among children and adolescents is rising, and orthokeratology lenses are effective in correcting or delaying myopia progression [5]. - Since 2018, orthokeratology lenses have been included in the "Myopia Prevention and Control Guidelines," accelerating the commercialization of this sector in China [5]. - Aibo Medical's orthokeratology lenses incorporate advanced design technologies and lead the industry in key performance indicators such as oxygen permeability and wettability [5]. Group 3: Contact Lenses - Aibo Medical's contact lens technology is robust, leveraging core technologies from its established ophthalmic medical devices [6]. - The company has expanded its contact lens business through acquisitions, enhancing production capacity and retail channels [6]. - Future strategies include targeting the high-end market with self-developed silicone hydrogel contact lenses and expanding into the consumer market with soft contact lenses [6].