Manufacturer of Ophthalmic Medical Devices, Bio Optics, Bets on the Localization of Imported Medical Devices

Q1. Company Introduction

Since our establishment in 2015, we have successfully developed and localized Korea’s first lacrimal punctum plug (a medical device for treating dry eye syndrome). We continue to engage in ongoing research and development, focusing on quality management and certification acquisition targeting the global market in ophthalmic medical devices. As a leading domestic manufacturer in this field, we compete with foreign companies and are preparing for exports to China, Europe, and South America. With a goal of “human eye health” in mind, we are dedicated to developing various products for everyday use, such as ophthalmic treatment materials, eyelid cleansers, and home care devices for relieving dry eye syndrome. 

Q2. Company’s Strengths

Based on years of experience in ophthalmic product development, we leverage our research and development center, international networks, and direct manufacturing facilities to produce tailored products that meet customer needs, which is our strength. 

Since 2017, we have participated in ophthalmology conferences in Europe, the USA, and other regions, enhancing product competitiveness through investments in and certifications for developing suitable medical devices aligned with rapidly changing market trends. Through our global network, we introduce new ophthalmic products to buyers, expand opportunities for product experiences, and establish systems that enable rapid exports. 

In addition, our ability to directly manufacture products allows us to swiftly produce customized solutions for clients, adapting flexibly to market demands, which further strengthens our competitive edge.

Q3. Introduction to the Company’s Flagship Products

Our flagship product, ‘Eye Clean Lid Cleaner,’ is an eye-specific cleanser designed to remove foreign substances and demodex mites from eyelids. It is suitable for therapeutic use with features like preventing troubles and providing antimicrobial functions. In addition, ‘hello, eyes,’ using the same efficacy and ingredients as Eye Clean Lid Cleaner, is a daily care product suitable for use from children to adults in everyday life. 

We successfully localized eye-specific cleansers, traditionally expensive imports, by leveraging our expertise and utilizing natural ingredients suitable for eye hygiene. Moreover, we hold patents related to cleansing pads incorporating tea tree oil and other natural ingredients, making us the first in Korea to do so. 

Q4. Market Outlook for Company’s Flagship Products

According to recent data from the Health Insurance Review and Assessment Service (HIRA) on dry eye syndrome, the risk factors for dry eye syndrome are steadily increasing due to increased use of various mobile devices and PC monitors, along with low relative humidity and environmental pollution. As a result, the number of dry eye syndrome patients continues to rise. Furthermore, trends in dry eye syndrome patients are also increasing steadily overseas, contributing to annual growth of the therapeutic market by 30%.

Q5. Export Strategy for the Future

Due to the impact of COVID-19, we have strengthened sales efforts in the somewhat volatile European and U.S. markets by completing registrations such as CE MDR (Medical Device Regulation) and FDA 510K. We anticipate formal entry into the European and North American markets.

Furthermore, we recently signed a contract with a specialized medical device supplier in China to export our lacrimal punctum plugs to the Chinese market. We have completed approval procedures and aim to achieve annual exports totaling USD 5 million starting this year.

Through continuous development of our international business networks and research and development efforts, our goal is to achieve 200% growth within five years, establishing ourselves as a leading manufacturer of ophthalmic medical devices representing Korea in the global market.

Website: http://biooptics.co.kr/