ICARES MEDICUS has made significant strides in its European market expansion, achieving an 8% market share in Spain’s intraocular lens (IOL) segment, with high-end products commanding a 15% share. General Manager Chen, Ping-Chun said on the 26th that in addition to subsidiaries already established in Germany and France with distribution and sales networks in place, Northern and Western Europe will be the next focus of development. With the synergies from its acquisition of MBI gradually materializing, the company aims to achieve widespread growth and more than double its revenue within the next three to five years.
Chen noted that the global IOL market is shifting toward high-margin products. The penetration of toric IOLs for astigmatism correction is expected to rise from around 10% today to 25–30%, while advanced IOLs (extended depth-of-focus and trifocal lenses) are projected to grow from the current 20–25% to 40%, potentially reaching 50% by 2030.
High-end and toric IOLs are priced two to three times higher than monofocal lenses. ICARES MEDICUS offers a comprehensive product line covering monofocal, extended depth-of-focus, and trifocal IOLs, with toric options across all series. The portfolio also includes both one-piece and preloaded designs, comprising at least 16 series in total. This completeness in high-margin products is expected to drive future revenue growth.
The earlier acquisition of MBI not only established a U.S. manufacturing base but also brought a well-recognized brand and a global distribution network into ICARES MEDICUS, creating complementary synergies in both products and channels. Chen explained that MBI had built a meaningful market share in several countries. After two years of organizational, R&D, and marketing integration, the benefits are beginning to take shape.
In July, ICARES MEDICUS obtained EU MDR certification for its monofocal IOL, becoming the second Taiwanese and roughly the tenth global company to earn this certification, which validates the product’s reliability and regulatory compliance. This milestone will significantly enhance competitiveness and physician confidence in the European market. MDR certifications for its high-end IOLs (extended depth-of-focus and trifocal) are currently under review.
Chen emphasized that ICARES MEDICUS is transitioning from an R&D-focused phase into a new stage driven by sales and revenue growth. In Spain, the company holds an overall 8% share of the IOL market and 15% in high-end products, while in Saudi Arabia, its market share reaches as high as 25%.
Over the past two years, the company has established subsidiaries in Germany and France and is building robust distribution and dealer networks. With a solid foothold in Spain, Europe remains its primary battleground, with Northern and Western Europe—including Poland, the Czech Republic, and Switzerland—identified as the next expansion priorities. The company will pursue “organic growth,” entering markets one by one to accumulate momentum that will drive explosive group-wide growth over the next 3–5 years.
For the first half of this year, ICARES MEDICUS posted revenue of NT$345 million, up more than 50% year-on-year, primarily due to the consolidation of MBI and ACME TOOLING. However, net profit after tax fell to NT$30.3 million, with earnings per share of NT$0.71, mainly due to increased clinical trial expenses. The company is advancing multiple new product clinical studies in Europe and China, incurring significant costs. Additionally, holding large U.S. dollar assets led to substantial foreign exchange losses as the New Taiwan dollar sharply appreciated in the second quarter.
Resource: 奈米醫材深化布局主戰場歐洲，拚3~5年遍地開花業績翻倍
