Syneron Candela, a NASDAQ-listed aesthetic device supplier, is eyeing potential growth in China, which has a rising middle class and an aging population.
Robert Ruck, executive vice president for Asia Pacific, said China has the highest growth potential in the region, based on its population and steadily rising economy.
“The number of people between 35 and 65 in China is increasing,” Ruck said, adding that the middle class is also expanding.
Ruck said Syneron’s partnerships with various mainland distributors allow it to reach more potential customers while also making it is easier to import and store equipment.
The Israel-based company works with Bloomage BioTechnology Corp Ltd. (00963.HK) and Chindex Medical Ltd. to distribute its products in China.
Also, it is seeking regulatory approval for new products.
Meanwhile, Japan is a steadily growing market thanks to a well developed aesthetic practices, he said.
The company’s aesthetic medical devices are based on its own ELOS (electro-optical synergy) technology co-developed with Dr. Shimon Eckhouse, the company’s co-founder.
Eckhouse was also the inventor and developer of IPL technology (intense pulsed light technology) used in non-invasive aesthetic medical devices.
The company markets, services and supports its products in 86 countries.
It has offices in North America, France, Germany, Italy, Portugal, Spain, the United Kingdom, Australia, China, Japan and Hong Kong and distributors worldwide.
Ruck said aesthetic standards and requirements vary between Asian and western markets.
For example, Asians prefer skin whitening and pigment removal while those in the West opt for something that will give them a tan.
Also Westerners consider freckles cute.
In Asia Pacific, technological innovation for skin rejuvenation is in high demand, he said.
He said the company has seen stronger than expected revenue growth in Southeast Asia after it launched PicoWay, the picosecond laser device that can be used to treat pigmentation and melasma or facial discoloration.
He said people in the region no longer have to fly to Japan or South Korea for treatment.
In Taiwan and South Korea, the company’s body-shaping devices, including VelaShape and UltraShape, are in demand due to their higher comfort level compared with high-intensity focused ultrasound treatment, he said.
Ruck served as an infantry officer in the US Army before going into the medical device industry.
“Luckily, I do not have major scar in my body. But I did see people in the army got scar, and needed treatment for texture improvement on their skin,” he said.
He said Syneron also has devices, namely, VBeam and CO2RE, for reducing scars and improving skin texture.
The company’s hair removal products can be used in the army, helping soldiers get a clean shave to allow gas masks to fit snugly, he said.
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