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Olympus Medical Device Company Intelligence Report
Espicom Business Intelligence Ltd, Nov 2007, Pages: 52
Olympus Corporation, headquartered in Tokyo, Japan, develops and manufactures products based on optical and electronic technology for the consumer, scientific, healthcare and industrial markets. The company’s medical devices cover endoscopy, minimally-invasive surgery and biomaterials. Olympus currently operates within five divisions; Medical Systems, Imaging Systems, Life Science, Information & Communication and Other, which includes its biomaterials operations.
The main focus of this profile is Olympus Medical Systems, Olympus’ largest operating division, accounting for 29% of the company’s total turnover in fiscal 2007. The division is a leading manufacturer of gastrointestinal and surgical endoscopes, endotherapy products, endoscopic ultrasound systems and related products. Products are organised within two areas; gastrointestinal endoscopes and minimally-invasive products, with the latter mainly comprising surgical endoscopy products and endotherapy devices.
Gastrointestinal endoscopes are Olympus Medical Systems’ largest product area, accounting for 69% of its total revenue in fiscal 2007. The company is the global market leader for these products, claiming to hold over 70% of the global market. This product line includes endoscopic video imaging systems, fibrescope systems, bronchoendoscopes, endoscopic ultrasound systems, ultrasound probes, ultrasound-guided needle puncture systems, cleaning, disinfecting and sterilisation systems, medical treatment peripherals and ancillary products. Olympus has made several key product introductions in this area over the past year, including endoscopes designed to enhance image quality and enable the visualisation of smaller details. It has also launched its Endo Capsule capsule endoscope in the US, making it only the second such product available in this market.
Sales of minimally-invasive products represent 31% of Olympus Medical Systems’ revenue. This product line includes endoscopy products for a range of surgery applications, as well as endotherapy products, treatment equipment and endoscopic surgery apparatus. A new area for the minimally-invasive business is dental products. The company began selling colour measurement equipment for dental clinics and dental implant manufacturers in November 2006. Olympus plans to continue to expand its involvement in the dental equipment market by developing new products based on its optical and image processing technologies.
In terms of geographic region, the international market is Olympus Medical Systems’ major source of revenue, with 77% of its sales coming from outside of Japan in 2007. Olympus Medical Systems manufactures most of its medical products in Japan, but also has manufacturing bases in Germany through Olympus Winter & Ibe and Celon AG, and in the UK through Olympus KeyMed.
In addition to Olympus Medical Systems, Olympus had operated its Olympus Biomaterial Corporation (OBM) subsidiary since October 2004 to specialise in biomaterials and tissue engineering. In April 2007, Olympus merged OBM into a new joint venture with Terumo, called Olympus Terumo Biomaterials Corporation. This new company also includes Terumo’s collagen business and aims to develop new products in the fields of orthopaedics, dentistry, oral surgery, plastic surgery and dermatology, based on the convergence of both companies’ technologies. The sales target for the biomaterials operations is ¥5 billion within three years from its establishment.
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