Carl Zeiss Meditec is one of the largest medical technology companies in the world and it operates in two segments: ophthalmic devices, or OPT, and microsurgery, or MCS.
Favorable industrywide trends, such as the aging population, an increasing prevalence of myopia, and a growing access to advanced healthcare across the globe, will act as tailwinds for Zeiss.
Bears
The US represents Zeiss’ second-largest market and the company’s limited portfolio of intraocular lenses and a weak presence in the surgical space in the region is further threatened by its competitors.
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Carl Zeiss Meditec is one of the largest medical technology companies in the world and it operates in two segments: Ophthalmic devices and Microsurgery. OPT, which made up 75% of sales in 2022, includes refractive lasers, surgical ophthalmic devices, equipment for ophthalmic diagnostics, as well as a portfolio of intraocular lenses and disposable medical instruments. With a low-teens share of the market, Zeiss is the second-largest player in the space. MCS is composed of implants, surgical instruments, and visualization devices used during neurosurgery, spine surgery, and otolaryngology surgery. With over 60% market share, Zeiss is the clear leader in the microsurgery space.