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Vistakon Medical Device Company Intelligence Report
Espicom Business Intelligence Ltd, April 2011, Pages: 14
Vistakon is focused on investing in innovation, building the Acuvue brand and fortifying its position as the worldwide leader in vision care. The company's growth strategy is to capitalise on the global contact lens market's huge potential.
Vistakon believes it has strong competitive advantages in the global contact lens market. These include its proprietary manufacturing platforms, which enable it to produce high volumes of lenses; its R&D organisation, which it believes has the highest level of investment in the industry; and the strong market recognition of its Acuvue brand.
As contact lenses are non-reimburseable medical devices, purchase decisions are influenced by the consumer and eye care professionals, so brand recognition is very important. The company therefore has a dual marketing approach for both the professional and the consumer. For professionals, the Johnson & Johnson Vision Care Institute is central to its approach. This training and education centre operates on the same principles as J&J's Ethicon Endo-Surgery Institute and has expanded overseas to include sister institutes in 13 cities around the globe. The institute has trained more than 50,000 eye care professionals worldwide.
In addition to its current strong position, the company believes it will see continued improvements in its business performance through growth in the contact lens market due to increased demand for products and the current under-penetration of contact lenses in both the developed and developing world. In order to achieve growth in the entire global market, the company has a strategy of developing products to suit regional needs, for example, its 1-Day Acuvue Define lenses for women in the Asia Pacific region.
Vistakon believes the BRIC countries (Brazil, Russia, India and China) offer a significant opportunity for the company and it is specifically targeting the 14-44 age group. In Russia, Vistakon believes it is already the leading supplier of disposable contact lenses and was named the best contact lens manufacturer by the Moscow Optical Exhibtion in 2010. In China, where Vistakon claimed the leadership position in the top three cities in 2009 and plans an aggressive expansion into the top 20 cities, the company estimates the contact lens market will increase to US$1 billion in the next five years.
This company report provides
Overview
- Key contact information
- Introduction to the company and its current activities
- Summary of its financial performance
- Who are the company's major competitors?
- Key recent events in an “at a glance” format
Financial Review
- Current year and annual financial data, including revenue breakdowns by product area and geographic region (if available)
- Table providing in-depth five-year financial analysis
- Employee data, including breakdown by company division and geographic location
Strategic Focus
- Investigates the company's aims and its areas of focus
Products
- Core product areas, key brands, product approvals and launches
- Research and Development
- How much has been invested in R&D?
- Where is the research based?
- What alliances and agreements does the company have and with whom?
Manufacturing and Distribution
Identifying the company's manufacturing locations
Sales and marketing facilities
Agreements
- With whom has the company reached agreements and what do they involve?
- Key contracts awarded
Litigation
Key Corporate Events
Product samples
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