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Summary of Key Points from the Expert Call on China's Ophthalmology Market Industry Overview - **Industry**: China's Ophthalmology Market - **Key Event**: Congress of Chinese Ophthalmological Society (CCOS) held in September 2025 Core Insights 1. **Market Dynamics**: The expert highlighted several key topics discussed during the CCOS, including the launch of new technologies and the current state of various ophthalmology segments [1][2][7] 2. **Business Pressure**: The ophthalmology segment faced significant pressure in Q3, with salary cuts and declining surgery volumes being major concerns among ophthalmologists [2][7] 3. **Refractive Surgery Trends**: - Surgery volume saw a decline in July and August after decent demand in June - Prices for refractive surgeries, particularly SMILE, are on a downward trend due to increased competition and new technology [2][10][20] 4. **Cataract Surgery**: - Q3 typically experiences low surgery volumes, exacerbated by hot weather and strict market screening controls by private hospitals [2][8] 5. **Optometry Demand**: Demand for optometry services was strong only during specific periods, such as the start of summer holidays and the new semester [2][9] Pricing and Competition 6. **Pricing Trends**: - The price of SMILE 3.0 has been reduced to RMB 9,800, while the price for SMILE 4.0 is set at RMB 16,800 but has not been firmly established in hospitals [7][10] - Public hospitals are expected to cut prices for OK lenses due to competition [20] 7. **High-End Intraocular Lenses (IOLs)**: - The market for high-end IOLs is limited, with concerns over the materials used in newer products [11][14] - Eyebright's EDOF IOL was recently approved, but its market potential remains uncertain [13] Industry Challenges 8. **Insurance Funding Control**: Tighter control over basic medical insurance (BMI) funding has been noted, with stricter requirements compared to the previous year [21] 9. **Hospital Closures**: Approximately 50% of eye hospitals have closed in recent years, with another 30% expected to close in the next three to five years [16] 10. **Competitive Landscape**: Large hospital chains are becoming more competitive, leveraging procurement advantages over smaller hospitals [17] Alcon's Acquisition of STAAR 11. **Acquisition Challenges**: Alcon's proposed acquisition of STAAR is viewed as challenging, with major shareholders expressing concerns over the low offering price [3][18] 12. **Potential Impact**: If successful, Alcon may enhance doctor training and marketing efforts for ICL, although it faces challenges in marketing compared to competitors like Carl Zeiss [19] Future Outlook 13. **Market Potential**: The potential launch of new SMILE equipment by domestic companies in 2026 could lead to significant price reductions through group purchasing organizations (GPOs) [22] 14. **Regulatory Risks**: The healthcare industry faces risks including unexpected price cuts from GPO programs, intensified competition, and stricter regulatory measures [24] This summary encapsulates the key points discussed during the expert call regarding the current state and future outlook of China's ophthalmology market, highlighting both opportunities and challenges within the industry.