UNILENS REPORTS LARGE JUMP IN MARKET SHARE, SURPASSING THE COMPETITION BY 100 PERCENT
UNILENS REPORTS LARGE JUMP IN MARKET SHARE,
SURPASSING THE COMPETITION BY 100 PERCENT
LARGO, Fla., March 3 /PRNewswire/ -- Unilens Corp. USA, (NASDAQ: UOCCF) which specializes in the manufacturing of multifocal contact lenses, has achieved a 10 share point increase in total multifocal market share in the fourth quarter of 1991, bringing its market share up to 38 percent. And Unilens products accounted for 43 percent of all new fittings in the same quarter, representing a 15 share point increase over the previous quarter.
Unilens is the fastest growing company in the fastest growing segment of the eye care industry, the presbyopic 40+ population. Virtually everyone over the age of 40 develops presbyopia.
The new increases in market share reinforce Unilens' position as the market leader in multifocal contact lens sales, a position the company first achieved in the quarter ending June 30, 1991. Unilens' 43 percent market share for new fittings is double the market share earned in this category by the company's closest competition.
With Launch Of New Products, Unilens Expects Additional Market Share Growth
Unilens attributes its latest successes to the October 1991 launch of a new product, SimulVue, a simultaneous vision soft contact lens for the correction of advanced cases of presbyopia, that provides near ADD capabilities of up to +4.00D, and to the effectiveness of the Unilens direct sales force which began in May 1991.
Unilens recently introduced the third component of the Unilens Contact Lens System, the Unilens RGP Aspheric Multifocal contact lens. It is ideal for rigid gas permeable lens wearers who develop presbyopia and patients with high astigmatism.
"We expect our total market share to grow beyond 40 percent now that we have the complete Unilens Contact Lens System available," said Tom Chaplin, president and chief operating officer. "These three lenses provide the most effective alternatives to bifocal spectacles."
Even before the introduction of the two new products, Unilens captured the number one market position for multifocal contact lenses with the basic Unilens contact lens, which is an aspheric soft contact lens (called simply Unilens), a lens used for the correction of less extreme cases of presbyopia and astigmatism.
Why Unilens Works Better Than Bifocals
Unilens contact lenses have a unique aspheric surface that corrects vision needs without the dependence on lens orientation, image selection or image suppression, which have been issues with bifocal contact lenses. Unlike traditional bifocal glasses and bifocal contact lenses, Unilens lenses do not have a line in the middle separating the parts of the lens that correct for near and far vision.
Because Unilens contact lenses are multifocal, they also have distinct advantages over bifocal contact lenses and monovision (whereby one eye is fit with a contact lens for near vision and the other eye is corrected for far.) There is no near versus far image rivalry, no unusual head tilting or image jumps, no visual retraining, little or no decrease of contrast sensitivity or night vision, no fogging of the lenses, nor loss of ability to use both eyes to focus on an object.
The Unilens and Unilens RGP lenses provide comfortable viewing at all distances, including the correction for intermediate distance viewing, which brings into focus such practical needs as computer terminal work, automobile speedometers and grocery shelf items.
The Fast-Growing 40+ Eye Care Market
The presbyopic market is the fastest growing market in the eye care industry, with the percentage of the U.S. population over 40 on the rise -- from 38 percent (over 95 million) in 1990, to a projected 41 percent (over 106 million) in 1995, and 44 percent (over 118 million) by the year 2000, according to the Bureau of the U.S. Census.
According to Dr. Arthur Giroux of the American Optometric Association, presbyopia is an unavoidable part of life, like taxes and aging. "Presbyopia is an epidemic in as much as everyone's hair will turn gray in an inevitability," says Giroux.
/CONTACT: Jill Levey of Quinn & Co., 212-366-1900, for Unilens Corp. USA/
(UOCCF) CO: Unilens Corp. USA ST: Florida IN: SU: SM-OS -- NY067 -- 4595 03/03/92 15:50 EST