the birth of "beauty economy" has accelerated the rapid development of the medical cosmetology industry.
On October 26, 2022, Foremed Legend was honored to be invited to participate in the "Little Dinner" event jointly organized by Little Table and MedTech. I would like to take this opportunity to analyze the development prospects of the optoelectronic medical aesthetic equipment market in the future and some thoughts on this field through online communication.
In the hyaluronic acid track, there have been two 100-billion-level leaders in Aimeike and Bloomage Biotech, but in the field of medical cosmetology optoelectronics, there are no local listed companies, therefore, Foremed Legend believes that in the next three to five years, there is a great opportunity for leading companies to emerge in the medical cosmetology optoelectronics track.
At the same time, the optoelectronic equipment market has been full of parallel imports and fakes for a long time, but since 2018, the medical aesthetic market has entered an era of strong supervision, and the market of parallel and fake goods has been seriously impacted. Therefore, Foremed Legend believes that in this track, the parallel and counterfeit market will be further compressed in the future, and the market size of genuine products will be effectively guaranteed.
On the other hand, at present, most of the domestic equipment is concentrated in the low-end product pipeline, and the equipment sales price is generally concentrated in 5-100,000 yuan, and the high-end market is almost completely monopolized by importers, so Foremed Legend It is believed that domestic high-end manufacturers are urgently needed by the market, and once related products come out, they will rise rapidly in a short period of time.
main point 2: domestic manufacturers have significant advantages in product definition and after-sales
according to the survey, we found that for the local market, the product definition of importers has certain limitations, and it cannot really meet the actual needs of the domestic market.
for example, the picosecond laser was developed in the United States, originally used to remove tattoos, but the demand for tattoo removal in the Chinese market is not large, therefore, after the picosecond laser entered the domestic market, it became the three main uses of freckle removal, whitening and skin rejuvenation.When the definition of the market is changed, we will find that the shape of the product will also change a lot. For example, considering only the needs of the Chinese market, which does not require such high energy and peak power for treatment, is it possible to make some changes in the morphology of the laser? If the current Nd:YAG laser can be changed to other product forms, the cost and stability of the entire product will be significantly optimized.
At the same time, there is a very significant problem for the import manufacturers of medical aesthetic optoelectronic equipment, that is, after-sales. First of all, due to scale limitations, the scale and service capabilities of the after-sales team cannot be compared with large equipment importers (GE, Carl Zeiss, etc.). Secondly, because the research and development of the product is not completely in China, when the product has more complex after-sales problems, it must be sent abroad for maintenance. This is not only costly to repair, but also has a very long cycle time.
According to our research, taking picosecond laser as an example, the current price of imported picosecond bare metal is basically about 150W in private channels, on the basis of this price, plus optional components and other expenses, the direct cost of a machine is not less than 200W. If you add the wearing parts and after-sales costs of the product, the cost is basically not less than 400W in a five-year cycle, which is a great burden for small and medium-sized organizations. Moreover, due to the lack of adequate after-sales service, small and medium-sized institutions will not consider such a large amount of equipment investment, which also leads to the fact that most of the imported equipment on the market is leased. Renting equipment comes with a series of problems, and consumers are now increasingly aware of them, so I won't go into them here.
Therefore, for Foremed Legend, how to make products that meet the product definition of the Chinese market is a very valuable thing, and at the same time, it can give full play to the after-sales advantages of domestic manufacturers and improve service quality.
this is an important competitive advantage for our local players.
main point 3: The integration of diagnosis and treatment is an inevitable trend of skin photoelectric therapy
the main clinical diagnostic methods for skin have significant defects, and the lack of diagnostic ability is an important obstacle to the standardization and precision of medical aesthetic optoelectronics. In recent years, new technologies represented by photoacoustic imaging are considered to have broad prospects in skin imaging and diagnosis, and Foremed Legend's scientific research team has also made many forward-looking business layouts in this direction.
photoacoustic imaging technology is very clear and clear, allowing you to clearly see different tissues in the deep layers of the skin. Therefore, photoacoustic imaging technology will inevitably provide more effective diagnostic support for the integration of diagnosis and treatment in dermatology, because today's photoelectric therapy not only includes preoperative diagnosis, but also includes intraoperative evaluation and postoperative follow-up.
for the vast majority of dermatology clinicians, the diagnosis can only be made by lesions in the epidermis because the deep layers of the skin cannot be seen. However, it is difficult to ensure the scientific diagnosis because many skin and vascular lesions are subcutaneous and cannot be observed by the naked eye alone.
Foremed Legend believes that with the establishment and improvement of the multi-method skin diagnosis system, the standardization and precision of the entire dermatology photoelectric therapy can be gradually realized, and the integration of diagnosis and treatment based on image guidance will inevitably become the mainstream paradigm of skin photoelectric therapy in the future. Perhaps many years later, when we look back, we will feel that skin phototherapy without accurate diagnosis is just like today's radiotherapy without medical imaging diagnosis, which is incomprehensible and unacceptable.
Foremed Legend has been working in the direction of integrated diagnosis and treatment of dermatology since its inception, and in July 2021, we also submitted an application for related invention patents. Happily, this important patent is expected to be officially granted before the end of the year.
Foremed Legend's photoacoustic imaging technology can include a complete set of systems from diagnosis to treatment to postoperative follow-up to final efficacy evaluation. This is a very valuable thing for the industry as a whole and even for laser medicine as a whole.
