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The second wave of COVID infections and the associated drastic measures are not only affecting Europe’s consumers, but companies are also suffering from it. Many in sectors such as tourism, hospitality and the events industry are on the brink of bankruptcy.
However, some industries have proven resilient, particularly in the medical sector. This includes refractive surgery with lens and laser treatments for myopia and age-related presbyopia, which is one of the most profitable niches in the medical sector. Although this is an area of discretionary spending not covered by most health insurances, refractive surgery has had one of the most successful years since its introduction to the European market decades ago. Why is that?
Glasses are a nuisance and when you wear a mask, that burden becomes even greater. There have never been more video conferencing in the world than in 2020 – a type of communication in which you see yourself on the screen for hours and discover all kinds of small imperfections in the process. It creates a growing demand for plastic surgery, acne remedies, hair loss and, last but not least, the desire to finally get rid of glasses. Another reason is abstinence from vacation travel and the desire to invest that money in quality of life, which leads people to buy more bikes, home theater systems or simply better and more youthful eyesight. But isn’t COVID having a direct impact in this business, as it is in many others?
In fact, it was barely noticeable beyond the most drastic days of lockdown. People decide to have eye surgery after years of careful deliberation. Once the decision is made, there is little that can shake the determination to enjoy life without glasses again. In addition, the investment is lower and has a far more lasting effect on the quality of life than, for example, a new car, a sailing yacht, an expensive watch or a handbag. Like most medical facilities, eye clinics are allowed to stay open during the pandemic. Thanks to strict hygiene rules, fast procedures and the avoidance of queues, the risk of infection is reduced to a minimum.
As the European market leader in refractive surgery and the global spearhead for multifocal lenses for the treatment of presbyopia, the EuroEyes core market Germany is already facing the second wave of strict COVID measures. Still, the company’s number of eye surgeries reached 1,390 in October 2020 – a record level! That is + 12% more than in September (1,241) and + 43% more than in October of the previous year (972).
With every happy customer EuroEyes lays the foundation for the demand of tomorrow, because word-of-mouth sets in and causes every happy customer to trigger 3 to 4 additional bookings within the next 6-12 months. As a result, bookings for operations will increase in the remaining months of this year. In order to meet the high demand and the increasing occupancy of the clinics in Germany, EuroEyes is hiring employees at all levels and is looking for ways to further increase capacity.
The EuroEyes Clinic Group is a globally successful company that was founded over 25 years ago in Hamburg and has its headquarters there to this day. In addition to locations throughout Germany, EuroEyes is also represented in China and Denmark. The clinic offers patients the entire spectrum of refractive surgery for the correction of ametropia. With the most modern eye laser and lens surgery procedures EuroEyes treats over 25,000 patients with myopia or farsightedness , astigmatism , presbyopia or cataracts every year . The interventions enable the start of a life free of glasses and contact lenses without impairment of vision and quality of vision.