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Recently,Global High-End Optical Ophthalmic Diagnosis and Treatment Equipment BrandIntalight——Intalight (Henan) Technology Co., Ltd.("Intalight" or "Intalight Medical Imaging")Completed by Haitong Kaiyuan as the lead investorOver 100 Million Yuan in Series D Financing, and the funds raised will be mainly used forIncrease R&D investment, expand product lines, and accelerate overseas market layout。
Within a year, IntalightCompleted multiple rounds of financing, with a total financing amount exceeding 400 million yuan, including domestic top-tier financial investment institutions such as Guoshou Equity, Qianhai Ark, ChenDe Capital, Shenzhen Venture Capital, CICC Fusion, Lingang Blue Bay, etc., as well asInvestors from Two Major Ophthalmic Industry Players: Aier Healthcare and Huaxia Eye。
▲Source: PharmCube Data
# Layout Ophthalmology OCTIn terms of ophthalmic OCT products, Intalight achieved in 2019Globally launched the 200,000-speed commercial swept-source OCT, andWorld's First Commercial Aircraft Equipped with AI Layering Technology。In 2020,Global Launch16.2mm Super Depth Imaging Product，Refreshes the Record for Maximum Imaging Depth in Commercial OCT. 2021,World's First 130° Ultra-Widefield OCTA，Breaks the Limit of the Largest Single Scan Range for Commercial OCT, broadening the clinical indications.In 2022,Global Launch of New Product "Intalight Full-Eye OCT", perfectly integrating five cutting-edge functions into one device: full-eye axial visualization biometry, anterior segment OCT, posterior segment OCT, anterior segment OCTA, and posterior segment OCTA.UsHERs in a New Era of Full-Eye OCT。In 2023,Globally launched the latest generation 150° ultra-wide angle OCTA product, pushing the OCT technology to a new height.Intalight Continuously Expands the Application Boundaries of Swept-Source OCT,From the Fundus to the Refractive and Optometric FieldsIn 2023, a revolutionary product was successively launched with an eye axis detection rate of over 99% for cataract patients.New Full-Eye Swept-Source Biometry Technology and Fast Scleral Lens Fitting Solution Based on Swept-Source OCT, These two major new technologies have already been showcased at large-scale exhibitions in China, drawing attention from the industry.In the Chinese market,Intalight's Full-Eye OCT Cumulative Sales Break 300 Units, Over 100 Units Installed in Benchmark Hospitals Nationwide, More Than 80% of the Equipment Becomes the Main Model, and has maintained a steady growth momentum.According to the public data from Chinese hospitals, its OCT product holds a leading market share and overall winning bid price among similar brands.Currently,Intalight's Full-Eye OCT Installed in 13 Top Ophthalmic Centers in Europe and the US。In addition, the Intalight Full-Eye OCT has been installed in renowned ophthalmic institutions in the Asia-Pacific region such as Tan Tock Seng Hospital in Singapore and Natasha Eye Center in India, and will soon be introduced to more prestigious hospitals.At the beginning of 2024,Intalight's Full-Eye OCT Listed in Global Renowned Medical Technology Magazine Medtech Outlook2023 Global Best Fundus Imaging Equipment Brand(Top Retinal Imaging Solutions Provider 2023), represents the global ophthalmic academic community's high recognition of DREAM OCT, once again demonstrating its extensive influence in overseas markets.
# Ophthalmology OCT Market SizeAccording to data from the Lasker Foundation in the United States, OCT imaging technology is used more than 30 million times annually in ophthalmic surgeries, approximately once per second. Moving forward, throughout...The globe undergoes approximately 40 million OCT eye examinations each year.。Global Ophthalmology OCT Market SizeIt is expected to grow at a compound annual growth rate of 15.41% from 2022 to 2030., expectedReach 1.9703 billion US dollars in 2029.
▲Global Ophthalmology OCT Market Sales Size and Growth Trend ForecastData Source:grand view researchAccording to the estimation in the White Paper on Innovation in China's Cardiovascular Medical Device Industry,By 2025, China's OCT Has 25 Times Growth Space。According to statistics, in 2022, the market size of ophthalmic OCT in China was 800 million yuan;In 2023, the market size of ophthalmic OCT in China was 1.1 billion yuan, with a compound annual growth rate exceeding 37%., and is expected to grow to 2.2 billion yuan by 2028. OCT with the OCT-A module will be the mainstream of future market upgrades.
▲Market Size and Growth Trend Forecast of China Ophthalmic OCT (Unit: Billion Yuan)Data source: National and provincial procurement websitesIt should be noted that from 2020 to 2022, due to the impact of the pandemic, the industry's growth rate slowed down, but the demand was not suppressed, only delayed. The demand in recent years will be released in 2023. According to incomplete statistics,Number of Ophthalmic OCT Products Winning Bids and Listed in Q1 2023Increased by 40% year-over-year, basically returning to the pre-epidemic level (2019). According to this estimate, the sales revenue of ophthalmic OCT products in 2023 will reach over 1.1 billion yuan, basically recovering to the 2019 level.# Ophthalmology OCT Competitive LandscapeIn the field of ophthalmic OCT,China has long been monopolized by imported brands.Before 2020, imported brands such as Zeiss, Heidelberg, Optovue, and Topcon occupied more than 90% of the market share, with Zeiss and Heidelberg being the most prominent.Low localization rate, huge space for domestic substitution。In recent years,A group of domestically produced innovative companies have been successively established and entered the market, bringing significant opportunities to the OCT market for ophthalmology produced in China.Among them, the OCT products of Big Vision Medical, Motic Medical, Intalight, Tupai Medical, Weiren Medical, and Zhuding Medical have obtained certification from the National Medical Products Administration (NMPA), entering the commercialization stage. With the rapid growth of demand for ophthalmic OCT products in China, the sales scale of the ophthalmic OCT market continues to expand. In 2022, among the OCT devices listed on the public hospital procurement platforms (National Procurement Network and various provincial procurement networks), a total of 485 units were awarded. Among them, 209 units were Chinese brands, 258 units were imported brands, and the remaining 18 units were untraceable. Among the 467 traceable ophthalmic OCT products,The proportion of domestically produced products has reached 45%., already approaching half,The Trend of Domestic Substitution is Obvious。
▲Market Share of OCT Devices Produced in China in 2022Data source: National and provincial procurement websitesAmong them, Tupai Medical stood out. In August 2021, Tupai Medical obtained registration certificates for two products: "BM-400K" and "YG-100K" (also known as Beiming and Yaoguang). In 2022, during its first full sales year, Tupai Medical achieved a leading position in the industry with 79 public hospital bids, capturing a 17% market share. From January to April 2023, the hospital-end sales of Tupai Medical's ophthalmic OCT products reached nearly 100 million yuan, with a year-on-year sales growth exceeding 150%, reshaping the competitive landscape in this field.Previously,Chinese-made medical devices often trade at lower prices for higher sales volumes. However, in the niche field of ophthalmic equipment, we are seeing a different new trend.Taking Tupa Medical as an example, its pioneering "400,000 scans per second speed" and "panoramic anterior and posterior segment integrated imaging" have led a revolutionary transformation in the ophthalmic OCT industry, establishing its high-end brand positioning.In 2022, the average winning bid price for OCT devices listed on public hospital procurement platforms (National Procurement Network and various provincial procurement networks) was approximately RMB 1.34 million per unit. However, the average winning bid price for Tupa Medical's Beiming and Yaoguang series OCT devices was about RMB 1.65 million per unit, significantly higher than the industry average. Specifically, the average winning bid price for each model of the "Beiming" series exceeded RMB 2.5 million per unit, making it one of the highest-priced ophthalmic OCT products sold globally. From this perspective, in the niche field of ophthalmic OCT, companies like Tupa Medical have developed...High-end domestically produced products are achieving "competitive substitution" in terms of performance, price, brand, and market share compared to similar imported products.。# Ophthalmology OCT Market Stock and IncrementOphthalmology OCT Market SizeByStock ReplacementAndNew PurchaseComposed of two parts.In terms of stock replacementBased on the analysis of current data, we speculate that its stock replacement market mainly focuses on tertiary hospitals and some secondary hospitals. According to the 2021 Statistical Bulletin on the Development of China's Health and Wellness Industry, as of 2022, the number of tertiary hospitals in China reached 3,275, almost all of which are equipped with ophthalmic OCT devices. Based on this estimation, the average number of OCT devices per hospital is about 1.5. Among these tertiary hospitals, there are approximately 200 ophthalmic specialty/teaching hospitals, each with an average of about 5 OCT devices. From this calculation,The total number of OCT devices equipped in tertiary hospitals in China is estimated to be around 6,000.。As of 2022, the number of secondary hospitals in China reached 10,848 (source as above), and ophthalmology is one of the departments that secondary public hospitals must establish. Among them, about one-third of public secondary hospitals are equipped with OCT devices, which is approximately 3,500 hospitals, with an average of 1 OCT device per hospital. Based on this calculation,The total number of OCT devices equipped in secondary hospitals in China is estimated to be around 3,500.。As of 2021, the number of private ophthalmic hospitals in China reached 1,005 (2022 data not yet published), with an annual growth rate of over 15%. Most private hospitals are equipped with OCT devices, with an average of approximately 1 to 2 OCT devices per hospital (not publicly tendered, making statistical collection challenging).According to this calculation, the total number of OCT devices equipped in China's private hospitals is approximately 1,000.。Other medical institutions such as primary hospitals (community hospitals), physical examination centers, and optometry centers have a lower popularity of OCT devices, making the total volume difficult to calculate. Based on the above statistics and estimates,The current stock of OCT devices in China's ophthalmology market is around 10,500 units.Based on the average 8-year service life of OCT equipment, it is conservatively estimated that the current existing stock can steadily contribute to a replacement quantity of 1,300 units per year. Considering factors such as technological innovation, this stock replacement volume is expected to reach 1,500 units per year.The incremental market for ophthalmic OCT is equally promising.. At present, the market with the most explicit incremental demand comes fromTwo Directions: Represented by public secondary hospitals and private ophthalmic hospitalsTraditional Medical Needs, as well as represented by the medical examination center and optometry centerEmerging Medical Needs. According to the requirements, secondary public hospitals in China must be equipped with ophthalmology departments, andOCT, as the gold standard for ophthalmic diagnosis, is an inevitable trend to achieve full popularity in secondary hospitals.。It is expected that in the next 10 years,Public Secondary Hospitals to Add 6,000 to 7,000 Ophthalmic OCT Purchase RequirementsThe continuous increase in the number of private ophthalmic hospitals will inevitably lead to a growing demand for OCT equipment. It is estimated that in the next 10 years,Private Hospitals to Add 1,000 to 2,000 Ophthalmic OCT Purchase Requirements. According to the above statistics, eyeThe total market increment for Intalight OCT in the next decade is approximately 7,000 to 9,000 units., with an average annual increase of 700 to 900 units.Combining the replacement of existing stock with the incremental market, it is estimated that,By 2028, the annual sales volume of ophthalmic OCT devices in China will reach 2,000 to 2,400 units, with terminal sales reaching 2 to 2.4 billion yuan per year.。
Intalight (Henan) Technology Co., Ltd. (referred to as "Intalight") was founded in Silicon Valley, USA in 2014. In 2015, with the support of national industrial policies, the company headquarters moved to China.Currently, there are three major R&D centers in Silicon Valley, Shanghai, and Luoyang.The company is a national high-tech enterprise and simultaneously possesses a world-class R&D team with over 20 years of Silicon Valley engineering experience, semiconductor optics, and high-end medical device development expertise.Since its establishment, Intalight has continuously innovated and explored, constantly expanding its own capability boundaries. Now, the company isFrom an ophthalmic imaging company to a full-platform enterprise covering the fields of ophthalmic diagnosis and treatmentBased on the new growth phase of the enterprise, Intalight has carried out a brand upgrade,From the brand name "Intalight" to the new brand name "Intalight赛炜", demonstrating its confidence and ambition to gradually advance towards becoming a global high-end ophthalmic platform enterprise.Since its establishment, the company has always focused on innovation in the ophthalmology field, bringing more disruptive products to the industry through continuous technological iteration, as follows:● In 2019, Intalight launchedThe First Self-Developed Swept-Source OCT, filling the gap in China-produced high-end ophthalmic medical devices;● In 2020, Intalight launched the built-in anterior-posterior segment switching and 6mm ultra-depth OCT;● In 2021, launched the 16.2mm ultra-depth and 130° super wide-angle OCT;● In 2022, launchedWorld's FirstFull-eye Axial Visualization Biometry, anterior segment OCT, posterior segment OCT, anterior segment OCTA, posterior segment OCTA, five cutting-edge functions integrated into oneIntalight Full-Eye OCT, ushering in a new era of full-eye OCT;● In 2023, Intalight launched the 150-degree ultra-wide angle blood flow OCT, setting a new industry standard in the OCT field with a larger range, deeper imaging, and faster speed.Currently, the company has multiple technologically advanced products under development, covering the fields of ophthalmic diagnosis and treatment. Product registrations in the United States and Europe are also being advanced simultaneously, striving to establish a Chinese representative team for high-end global ophthalmic medical devices.As of the date of this report, the company's financing history is as follows:
As of the date of this report, the following are some of the company's patents:
