Core Insights - The price of OK lenses in Beijing has significantly decreased, with some families reporting costs dropping from over 10,000 yuan to around 4,900 yuan, marking a nearly 50% reduction [2][3] - The price drop is influenced by a procurement policy in Hebei that has created a price gap, prompting Beijing's market to follow suit [4][6] - The average price reduction for OK lenses across various hospitals and clinics in Beijing is approximately 50%, with some brands seeing discounts between 40% to 60% [3][4] Price Dynamics - The price of OK lenses has entered the "thousand yuan era," with many parents noticing substantial reductions in costs [2][3] - Discounts on related care products have also been observed, with prices for cleaning solutions dropping by 10% to 20% [4] - The collective impact of these price changes has led to increased consumer interest and consultations for OK lenses [4][6] Market Trends - The penetration rate of OK lenses in China is currently at 1.8%, with projections suggesting it could rise to 3.2% by 2025 and 10.66% by 2030 [5] - The rise of defocus glasses is challenging the dominance of OK lenses, with major companies reporting stagnation or declines in their OK lens revenues [6][7] - Companies are responding to market pressures by innovating and diversifying their product offerings, such as introducing daily disposable OK lenses and new defocus lens technologies [6][7] Consumer Behavior - The reduction in prices has made OK lenses more accessible to average families, leading to a shift in consumer preferences towards these products [5][6] - Parents are increasingly considering defocus glasses as an alternative to OK lenses, especially for children who may find the maintenance of OK lenses cumbersome [5][6] - The decision-making process for families now involves weighing the benefits of clearer vision against the practicalities of care and comfort [7][8]

Summary of the Conference Call Records Industry Overview: Ophthalmic Consumables Key Points on Cataract Surgery Market - **Cataract Surgery Volume Recovery**: In the first five months of 2025, cataract surgeries showed signs of recovery, with some hospitals experiencing a growth of 20%-25% and a slight increase in unit prices compared to 2024. The overall performance for the first half of 2025 is expected to be strong, with stable outpatient volumes and average transaction prices anticipated for the year [1][3] - **Seasonal Trends**: Cataract surgeries have two peak periods annually: from the sixth day after the Spring Festival to the end of the lunar March, and from September to late November. The low seasons occur around the Dragon Boat Festival and from late November onwards [4] - **DIP/DRG Pricing Standards**: The current DIP (Diagnosis-Related Group) and DRG pricing standards differ significantly from previous project reimbursement systems, allowing for more flexibility based on hospital levels. For instance, reimbursement for intraocular lenses in tertiary hospitals can reach 1,800 yuan, with total reimbursements up to 5,000 yuan [5][6] Market Dynamics of Intraocular Lenses - **Market Distribution**: The intraocular lens market is characterized by a normal distribution, with low-end products accounting for 20%-25%, high-end products for about 20%, and the remainder consisting of bifocal and other types. Cost control policies may lead to an increase in low-end products, while the choice of trifocal lenses will depend on pricing compliance with DIP standards [6][8] - **Low Penetration Rate**: China's cataract surgery penetration rate is lower than that of Europe and the US, attributed to limited insurance coverage, inadequate third-party payment systems, and a lack of public awareness regarding eye health. The average age for surgery is nine years later than the average onset age of the disease, indicating significant room for growth [7][9] Market Size and Future Projections - **Surgery Volume Growth**: The number of cataract surgeries in China has been gradually increasing, with projections of 430 million surgeries in 2023 and an expected 470-475 million in 2024. The target for 2025 is set at 490 million surgeries [2][10] - **Market Demand for Contact Lenses**: The demand for orthokeratology lenses is expected to grow by approximately 10% in 2025, with a total shipment of around 150 million lenses in the first five months of the year [16] Competitive Landscape - **Coexistence of Products**: Orthokeratology lenses and defocus glasses are expected to coexist in the market, catering to different consumer needs. While orthokeratology lenses are the most effective tool for myopia control, defocus glasses are gaining market share due to safety concerns among parents [19][20] Regulatory and Policy Implications - **Government Initiatives**: The government has established initiatives to improve cataract surgery penetration rates, but challenges remain due to limited insurance coverage and public awareness. It is anticipated that with increasing demand from the elderly population and ongoing policy support, penetration rates may gradually improve [9][18] Inventory and Pricing Dynamics - **Inventory Levels**: The inventory ratio for intraocular lenses is approximately 1:8, meaning for every 100 surgeries, 800 lenses are kept in stock. In contrast, orthokeratology lenses are ordered on a per-need basis, with no significant inventory maintained [22] - **Price and Margin Differences**: The pricing and profit margins for intraocular lenses and orthokeratology lenses in overseas markets are generally higher than in China, although domestic production costs are lower due to reduced R&D and intellectual property costs [23][24]