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Alcon (ALC) Expands Optical Care Line With Latest Launch
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Alcon, Inc. (ALC - Free Report) recently launched TOTAL30 Multifocal — the first and only monthly Water Gradient multifocal contact lens for Patients with Presbyopia. The lenses are now available in the United States and other international markets.
It is worth mentioning that Presbyopia is the gradual decline of the eye’s ability to focus on nearby objects, causing them to appear blurry and out of focus. Patients are also on their digital devices more than ever, leading to digital device dryness. The new TOTAL30 Multifocal lens outwits digital device dryness by delivering nearly 100% water at the lens's surface via a patented Water Gradient Technology.
More on TOTAL30 Multifocal
DAILIES TOTAL1 Multifocal has overtaken all other daily disposable multifocal contact lenses in sales in the United States thanks to Water Gradient Technology. The company now provides presbyopia contact lens wearers who want a monthly replacement schedule with the excellent comfort of Water Gradient Technology with the launch of TOTAL30 Multifocal. In addition to improving the pleasure of wearing multifocal lenses, this will guarantee eye care professionals have an excellent fitting process.
TOTAL30 Sphere lenses and TOTAL30 for Astigmatism are included in the TOTAL30 portfolio. More details regarding the TOTAL30 Multifocal launch date and target markets will be disclosed in the coming months.
Significance of the Launch
The lenses use PRECISION PROFILE, the most popular multifocal optical design in the United States, giving wearers of the lenses clear, uninterrupted vision from close up to far away. Similar visual features can be found in DAILIES TOTAL Multifocal and AIR OPTIX plus Hydraglyde Multifocal contact lenses. Data reveal that 96% of patients successfully fitted for Alcon multifocal contact lenses did so because of their PRECISION PROFILE optical design.
Image Source: Zacks Investment Research
Alcon continues to provide breakthroughs in quickly expanding areas with the launch of TOTAL30 Multifocal. With the prevalence of presbyopia reaching 80% by age 45-55 and an increasingly aging population. The TOTAL30 Multifocal lenses from Alcon are ideally positioned in this market because they provide Alcon's premium Water Gradient innovation at a more affordable price than monthly lenses.
Industry Prospects
Per Grand View Research, the global contact lenses market size was estimated at $17.14 billion in 2022 and is expected to grow at a CAGR of 8.9% by 2030. The increasing cases of refractive errors, such as myopia, hyperopia, presbyopia, and astigmatism, are the major factors driving the demand for contact lenses globally.
Progress Within Vision Care
Alcon is registering solid growth in vision care, banking on strong sales of its contact lenses and ocular health products. In contact lenses, the company is successfully investing in fast-growing market segments with significant share opportunities. As a result, Alcon is outpacing market growth in every category where it has launched new products.
TOTAL30 and TOTAL30 for astigmatism are witnessing strong market acceptance within reusable lenses. Recently, Alcon has expanded the TOTAL30 family in the United States and Europe by launching its multifocal modality. In terms of Daily Lenses, the company is benefitting from the strong performance of Toric lenses, including Precision1 and DAILIES TOTAL1 Toric. The DAILIES Toric segment is the fastest-growing segment of the market as it's estimated that approximately one-third of contact lens wearers have astigmatism, but only 10% wear Toric lenses.
Price Performance
In the past year, shares of ALC have gained 35.2% compared with the industry’s 2.6% growth.
Zacks Rank and Other Key Picks
Alcon currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Quanterix (QTRX - Free Report) and Align Technology (ALGN - Free Report) , each carrying a Zacks Rank #2.
DaVita has gained 25.5% against the industry’s 8.9% decline in the past year.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have surged 141.5% in the past year compared with the industry’s fall of 5.6%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Align Technology’s 2023 earnings have moved up from $8.77 to $8.78 per share in the past 30 days. Shares of the company have increased 27% in the past year compared with the industry’s rise of 14.3%.
ALGN’s earnings beat estimates in three of the trailing four quarters and missed in one. In the last reported quarter, it posted an earnings surprise of 9.90%.
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Alcon (ALC) Expands Optical Care Line With Latest Launch
Alcon, Inc. (ALC - Free Report) recently launched TOTAL30 Multifocal — the first and only monthly Water Gradient multifocal contact lens for Patients with Presbyopia. The lenses are now available in the United States and other international markets.
It is worth mentioning that Presbyopia is the gradual decline of the eye’s ability to focus on nearby objects, causing them to appear blurry and out of focus. Patients are also on their digital devices more than ever, leading to digital device dryness. The new TOTAL30 Multifocal lens outwits digital device dryness by delivering nearly 100% water at the lens's surface via a patented Water Gradient Technology.
More on TOTAL30 Multifocal
DAILIES TOTAL1 Multifocal has overtaken all other daily disposable multifocal contact lenses in sales in the United States thanks to Water Gradient Technology. The company now provides presbyopia contact lens wearers who want a monthly replacement schedule with the excellent comfort of Water Gradient Technology with the launch of TOTAL30 Multifocal. In addition to improving the pleasure of wearing multifocal lenses, this will guarantee eye care professionals have an excellent fitting process.
TOTAL30 Sphere lenses and TOTAL30 for Astigmatism are included in the TOTAL30 portfolio. More details regarding the TOTAL30 Multifocal launch date and target markets will be disclosed in the coming months.
Significance of the Launch
The lenses use PRECISION PROFILE, the most popular multifocal optical design in the United States, giving wearers of the lenses clear, uninterrupted vision from close up to far away. Similar visual features can be found in DAILIES TOTAL Multifocal and AIR OPTIX plus Hydraglyde Multifocal contact lenses. Data reveal that 96% of patients successfully fitted for Alcon multifocal contact lenses did so because of their PRECISION PROFILE optical design.
Alcon continues to provide breakthroughs in quickly expanding areas with the launch of TOTAL30 Multifocal. With the prevalence of presbyopia reaching 80% by age 45-55 and an increasingly aging population. The TOTAL30 Multifocal lenses from Alcon are ideally positioned in this market because they provide Alcon's premium Water Gradient innovation at a more affordable price than monthly lenses.
Industry Prospects
Per Grand View Research, the global contact lenses market size was estimated at $17.14 billion in 2022 and is expected to grow at a CAGR of 8.9% by 2030. The increasing cases of refractive errors, such as myopia, hyperopia, presbyopia, and astigmatism, are the major factors driving the demand for contact lenses globally.
Progress Within Vision Care
Alcon is registering solid growth in vision care, banking on strong sales of its contact lenses and ocular health products. In contact lenses, the company is successfully investing in fast-growing market segments with significant share opportunities. As a result, Alcon is outpacing market growth in every category where it has launched new products.
TOTAL30 and TOTAL30 for astigmatism are witnessing strong market acceptance within reusable lenses. Recently, Alcon has expanded the TOTAL30 family in the United States and Europe by launching its multifocal modality. In terms of Daily Lenses, the company is benefitting from the strong performance of Toric lenses, including Precision1 and DAILIES TOTAL1 Toric. The DAILIES Toric segment is the fastest-growing segment of the market as it's estimated that approximately one-third of contact lens wearers have astigmatism, but only 10% wear Toric lenses.
Price Performance
In the past year, shares of ALC have gained 35.2% compared with the industry’s 2.6% growth.
Zacks Rank and Other Key Picks
Alcon currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Quanterix (QTRX - Free Report) and Align Technology (ALGN - Free Report) , each carrying a Zacks Rank #2.
DaVita has an estimated long-term growth rate of 12.7%. DVA’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average surprise of 21.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita has gained 25.5% against the industry’s 8.9% decline in the past year.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have surged 141.5% in the past year compared with the industry’s fall of 5.6%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Align Technology’s 2023 earnings have moved up from $8.77 to $8.78 per share in the past 30 days. Shares of the company have increased 27% in the past year compared with the industry’s rise of 14.3%.
ALGN’s earnings beat estimates in three of the trailing four quarters and missed in one. In the last reported quarter, it posted an earnings surprise of 9.90%.