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Ophthalmic market enjoys favorable trend, attracts investors
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BARCELONA — The future looks bright for the ophthalmic industry, which currently enjoys a very favorable trend, according to one speaker at the Ophthalmology Futures European Forum.
The ophthalmology market attracts investors, according to Brian Scullion, managing director and partner at William Blair & Company, the global investment banking and wealth management firm that acted as sell-side advisor to Synergetics in its sale to Valeant.
Brian Scullian
“It does because it is a growing market, where the number of procedures is steadily increasing due to the aging of the population, to the rising income in countries outside the U.S. and Europe, and to the constant development of new, sophisticated technologies. In addition to the rising procedure value, we have also seen patients ‘go out of pocket’ for premium care,” he said.
With 99% of surgeries performed in outpatient settings, the ophthalmology market is “discrete and manageable,” he said. “Outpatient settings enable ophthalmologists to be in control of purchase decisions. Patients know service differentiators and costs, and actively research available options. Surgery is infrequently deferred, as patients pursue treatment as soon as they identify needs.”
These favorable factors are leading investors to devote a greater portion of their capital funds into ophthalmology, which spurs innovation. In 2014, Scullion said, investments almost doubled up to $4 billion. – by Michela Cimberle
Disclosure: Scullion reports he is Managing Director and Partner at William Blair & Company.