Surgery, Endoscopy Are Main TargetsWed, 09/05/2018 - 17:40
Q: How would you describe Olympus’ participation in the endoscopic market in Mexico?
A: Olympus is internationally recognized for its flexible endoscopic products, holding 70 percent of the global market. The company used to be the strongest brand in Mexico for these products but it faced a market contraction between 2012 and 2014. We face strong competition in Mexico, but we are working to recover our market share and position our surgical line.
Q: What are the main challenges Olympus has identified in the Mexican market?
A: We cannot be sure of our position in the market since there is no reliable information. One of the challenges we face in Mexico is the lack of reliable data on almost all aspects of healthcare. Another is the secondary market, often illegal, which is neither regulated nor monitored. During 2018, we have seen growth, albeit at a slower pace due to the uncertainty caused by the renegotiation of NAFTA, which boosted dollar prices and slowed investment. Administrative changes in Mexico are also always a cause of uncertainty
Q: How does Olympus convince clients in the public sector to acquire advanced technology?
A: We do this through our product specialists as well as our direct sales force. Product specialists and sales executives work directly with end users with the main objective of understanding their needs and providing solutions. We do not sell boxes we sell solutions. Besides, we demonstrate the clinical benefits of our technology and all our technological innovations with their own patients so they can evaluate first hand the real advantages of having cutting edge technology.
Q: How willing are private hospitals to invest in state-ofthe-art technology?
A: It depends on the hospital. Although some invest in cutting-edge technology to gain recognition, other hospitals have a different business model that focuses more on business performance according to their patient population. Private hospitals are clearly segmented. For that reason, medical devices companies offer a diverse portfolio of products, since it is not possible to have “one size fits all” solution.
Q: Which products is Olympus launching for its surgical line in the short-term?
A: Our star product is the Visera 4K UHD System that provides unparalleled resolution. Other devices capture normal images and then convert them to 4K. Olympus creates and transmits the image as 4K from the beginning, providing a significant improvement in resolution. This equipment greatly reduces surgery times as the faster that doctors identify an issue, the faster they can address it. Reducing the time it takes to perform a surgery also improves the patient’s recovery time. Another benefit is that hospitals can perform more surgeries. There are five Visera 4Ks in Mexico and we expect their sales to continue rising.
We are also promoting our 3D Imaging Systems, which is oriented to urologist and bariatric surgery. This equipment requires highly specialized doctors to use them and we expect this area to grow slowly as it takes more time to position these devices.
Q: What are Olympus’ main priorities for 2018?
A: Olympus focus for 2018 is the ‘True to Life’ initiative. Our way of doing business is a conscious sale, creating real value to our customers, providing real solutions. Our priority is to help create awareness of major diseases through promoting how our technology can help diagnose and treat those diseases, educating in the safe use of our technology among our clients and on providing excellent professional education to doctors. The second priority is to capitalize on our existing capabilities and infrastructure. Finally, we will work to improve our relationship with clients who felt abandoned when Olympus lost market share during the 2012-2014 contraction.