Alcon lines up product launches in India, bets on rising demand for advanced eye care

Multinational eye care major Alcon is preparing to roll out multiple products in India over the coming months, in response to growing demand for advanced ophthalmic technologies and a strategic push into high-growth segments like cataract and refractive surgeries.

The company is awaiting regulatory approvals for several new launches targeted at improving surgical outcomes and expanding access to premium eye care solutions. “There are quite a few launches lined up for this year. We are optimistic about getting regulatory approvals soon. Some of these are innovations that will be introduced for the first time in India,” Amar Vyas, Country Manager for Alcon India told Business Today.

This pipeline of launches is part of a broader strategy by Alcon to deepen its footprint in the Indian ophthalmology market, particularly in fast-expanding segments such as cataract surgeries and vision correction procedures.

India’s broader eye care market reflects a positive long-term outlook. According to GlobeNewswire, the Indian vision care market was valued at around ₹8,880 crore ($1.07 billion) in 2024 and is projected to reach approximately ₹15,440 crore ($1.86 billion) by 2033, growing at a compound annual growth rate (CAGR) of 6.31 percent. This growth is driven by increased awareness, rising income levels, and the large burden of visual impairment in the country.

Alcon’s expansion in India aligns with these trends, particularly as vision correction procedures such as LASIK become more common across Tier I and Tier II cities.

India is currently one of the company’s top markets globally in terms of growth rate. “In India, cataract surgery contributes nearly 65 per cent of our business,” said Vyas. “This is expected to grow further because of two drivers — ageing and aspiration. People in their 50s and 60s want to live spectacle-free, so there’s a mindset shift even with cataract surgeries. Patients today are choosing premium lenses,” he said.

Alcon also sees substantial headroom for growth in the refractive segment — procedures aimed at correcting vision and reducing dependence on spectacles or contact lenses. The company is preparing to introduce Wavelight Plus, a next-generation LASIK technology based on ray-tracing algorithms, which Vyas believes will help “create a new category altogether.”

“Wavelight plus is a breakthrough in personalised vision correction, designed for the younger generation who refuse to be limited by spectacles. We are excited to offer Alcon’s latest innovation in vision correction in India. This launch also marks a new chapter in Alcon’s longstanding commitment to laser eye surgery, as we enable surgeons in India for the first time to deliver a fully personalised procedure, tailored to every patient’s complete eye system ” he said, adding that the product has already received a positive response in the launch markets, and now Indian ophthalmologists who have experience with this technology share the same sentiments.

Alcon generated $2.1 billion from operating activities and reported free cash flow of $1.6 billion in 2024. The financial position allows the company to continue allocating capital towards product development, operational improvements, and broader access to eye care services.

India’s eye care market is projected to grow at over 8-10 percent CAGR, driven by increasing awareness, rising income levels, and a high burden of visual impairment. Alcon's push aligns with this trend, especially as elective procedures like LASIK become more mainstream across Tier I and Tier II cities.

To support this expansion, Vyas said, Alcon continues to invest in its India operations, not only in terms of product offerings but also in training infrastructure. The company runs wet labs and skill transfer centres to train surgeons on advanced techniques and is working with government schemes to improve accessibility in underserved regions.

“We are working with government and NGO-run programmes to make cataract surgeries more accessible, especially in rural areas,” Vyas said. “But our focus is also on quality — bringing better technologies and training surgeons so patients have improved outcomes.”

Alcon Inc reported steady financial performance for the fiscal year 2024, reflecting its continued focus on innovation and operational discipline. The company recorded net sales of $9.8 billion, a 5% increase over the previous year, or 6% on a constant currency basis. This growth came from both its Surgical and Vision Care segments. Operating income stood at $1.4 billion, with an operating margin of 14.4%, an improvement of 3.3 percentage points compared to the prior year. Excluding non-recurring items, the company reported a core operating income of $2.0 billion, resulting in a core operating margin of 20.6%.