The Swiss Cataract Market under consideration of FEMTO technology
The Swiss Cataract market is highly competitive, and most ophthalmologists still choose to operate by hand rather than using FEMTO technology. This might be the result of high operation costs or the fact that Cataract operations with FEMTO technology are not fully covered by the health insurance hence, most patients choosing the cheaper possibility.
Valerie Adam & Milica Dobric, 2018
Bachelor Thesis, Ziemer Ophthalmic Systems AG
Betreuende Dozierende: Marc K. Peter
Keywords: Cataract, Switzerland, FEMTO, Price Elasticity, Added Value, Success Factors, femtosecondlaser
Ziemer Ophthalmic Systems AG would like to get further input on the price elasticity for FEMTO Cataract surgeries, and how a possible price elasticity affects the demand. Secondly, the added value chain shall be explored further. Additionally, success factors which are relevant to an ophthalmologist to invest into FEMTO technology shall be further analyzed.
The general analysis, such as definitions or chosen pricing models, will be based on available literature. Once an in-depth research has been completed, the primary market research takes place. This is essential, as the Swiss Cataract market has not yet been sufficiently analysed. Firstly, the authors will get in contact with Ziemer’s local distribution partner and interview the responsible contact person about the current market situation. According to our client, the local partner has in-depth market knowledge. Furthermore, we will attempt to get in contact with as many ophthalmologists as possible in order to identify their pricing model as well as success factors. A possible price elasticity for demand will also be determined by means of interviewing ophthalmologists. The authors might face great difficulties when contacting these physicians and persuade them to an interview. Furthermore, the number of ophthalmologists in Switzerland already using femtosecond lasers is limited, which proposes another challenge to gather sufficient data. Therefore, the local distributor network might be beneficial. Important to note is that basically two different price elasticities may exist. Firstly, for the sale of a Ziemer femtosecond laser, which would be from distributor to ophthalmologist. Secondly, the procedure carried out with femtosecond laser itself, in other words from surgeon to patient. Our task is to mainly focuses on the second one, the procedure itself, thus, the structure of the surgeons offering has to be identified as well. Finally, the decision still being the patient’s choice, their decision-making process needs to be analysed.
The authors expect to provide findings with subsequent recommendations for all three objectives. It must be noted though, that the conclusion and recommendations might be based on a non-representative number of interviews. Nonetheless, three main outcomes are expected.
Firstly, it has been stated by the client that the likelihood of the price being elastic is high. However, it is unclear how elastic the price is and within with price range.
Secondly, the added value that justifies the price charged by ophthalmologist is most likely to be their tangibles, reliability, empathy, responsiveness as well as their assurance.
Finally, success factors may be Ziemer’s after-sales service, warranty options, product support and delivery and credit possibilities.
Studiengang: Business Administration International Management (Bachelor)
Fachbereich der Arbeit: Marketing & Kommunikation