Private Capital

#PraxAlpha: Eyecare market opportunity in India

15 Oct 2024

Investment Thesis

Large market opportunity, with cataract surgeries expected to grow at a CAGR of 3.4% and the market shifting from unorganized local centers to single specialty chains leading to premiumization as well
Strong value proposition of protocol-based high-quality and affordable health care for customers helping gain market share from single standalone centers
Strong customer feedback on brand perception across cities due to good quality of care, high doctor responsiveness, infrastructure, and overall patient experience
Efficient customer acquisition channels with a healthy mix of camps, offline advertisements, digital marketing, and outreach centers
Strategically located at prime locations with good infrastructure and good quality services to the patients
Superior unit economics for chain hospitals in tier 1 cities vs chain hospitals in tier 2 cities and standalone centers due to a good flow of patients and high surgery-to-OPD ratio