Financial Associated Press (Chengdu, reporter Zhang Haixia) news, recently, anti-aging instruments Peninsula ultrasonic cannon in the medical beauty market is quite hot, once caught up with the previous Heat Maggie's heat. A number of medical beauty industry insiders said in an interview with the Financial Associated Press reporter that they are optimistic about the future market prospects of peninsula ultrasonic cannons, and are optimistic about the domestic alternative space in the field of medical aesthetic equipment and instruments.
A medical beauty analyst said in an interview with the Financial Associated Press reporter: "Optimistic about the ultrasonic cannon is mainly based on the ultrasonic cannon to obtain the certificate, the medical beauty industry compliance is the foundation." The reporter learned that the medical aesthetic equipment and instruments have a long period of certification, strict approval, and the current Peninsula ultrasonic cannon is one of the few domestic medical aesthetic instruments and equipment approved by the NMPA in the market; behind the brand is Shenzhen Peninsula Medical Company.
A medical and american related person told the Financial Associated Press that under the influence of the epidemic, the import cycle of foreign instruments and equipment has been lengthened, and the ultrasonic cannon is expected to take advantage of the opportunity to achieve domestic substitution, and the cost performance of the peninsula ultrasonic cannon is higher in comparison. Ai media research data shows that in 2019, legal institutions imported equipment accounted for 80% of the market share, and domestic equipment was only 9%.
(Picture note: The equipment situation of China's medical aesthetic institutions in 2019 comes from Ai Media Data Center, Meibai Medical Health, etc.)
In addition, the above-mentioned medical beauty analysts said that in terms of brand awareness, light medical beauty consumers have a certain awareness of the brand of injection products, and the photoelectric project is still in the stage of identifying the project itself rather than the equipment brand, so domestic substitution has a large space in the field of equipment.
Indeed, under the epidemic, the domestic medical aesthetic equipment and instrument market has increased significantly, and the gross profit margin has further improved. With a strange laser (832861. OC) as an example, the company's beauty equipment in the first half of 2021 achieved revenue of 85.5354 million yuan, a year-on-year increase of 160.20%; the corresponding gross profit margin was 61.01%, an increase of 6.27% year-on-year.
As the development of domestic related beauty technology started later than that of developed countries in Europe and the United States, the market started early, and foreign-funded enterprises relied on strong brand and technical advantages to occupy most of the market of domestic public and high-end private hospitals. According to the data, the domestic medical aesthetic equipment market is mainly eaten by international brands such as Israeli brand Syneron, American brand Cynosure, Lumennis, Zeltiq Aesthetics, Cutera, Venus Concept and so on.
In terms of subdivision, the current medical aesthetic equipment and instruments mainly include three major types of technologies: light waves, electromagnetic waves and sound waves, of which light waves represent technologies and projects including LED red and blue light projects (with low technical content), pulsed light photon skin rejuvenation projects (representing enterprise science and medical personnel) and laser dot matrix laser projects, laser spot removal projects and picosecond laser projects (Sai Nuoxiu); electromagnetic waves are mainly radio frequency Thermage projects, Geratti projects (representing the enterprise Feidun, Fosun Pharmaceutical) The sonic category is mainly ultrasonic knife anti-aging and skin texture removal project (representing the enterprise ulthera).
In the field of domestic medical aesthetic equipment and instruments, the current representative enterprises are Fosun Pharma (600196. SH), East China Pharmaceutical (000963. SZ), Hao Hai bioaceae (688366. SH) and Exotic Laser, etc. In recent years, the wave of acquisitions in this field has emerged, with Fosun Pharma acquiring Israeli medical aesthetic equipment manufacturer Sisram, Huadong Pharma acquiring Sinclair in the United Kingdom, High Tech in Spain, and Hao Hai Biotech acquiring Ouhua Meike.
(Figure Note: Net interest rate (%), from CITIC Securities)
According to the data, the non-invasive frozen lipolysis device Cooltech Define product independently developed by High Tech, a subsidiary of Huadong Pharmaceutical, has officially obtained the EU CE certification in February 2021, and its innovative RF product for skin tightening and body shaping is expected to obtain THE EU CE certification in the fourth quarter of 2021, and will be listed and sold worldwide after approval.
However, on the whole, the overall net profit margin in the field of medical aesthetic equipment and instruments is low. According to CITIC Securities data, the gross profit margin of international manufacturers such as Medical Aesthetic Equipment and Instrument Sainuoxiu and Sainolong is about 50%-70%, the net profit margin is only about 0.1%-3.3%, and the net profit margin of the corresponding distributor is 8%.