Domestic beauty and medical device companies are continuing to achieve performance growth driven by the expansion of foreign medical tourism demand and increased overseas exports. As foreign medical consumption, which was previously centered on plastic surgery, shifts toward natural skin improvement and non-invasive procedures, companies with related medical devices, toxins, and fillers are seeing a significant expansion in their scale. According to the Korea Health Industry Development Institute on the 13th, the number of foreign patients (excluding duplicates) who received treatment in Korea last year surged 93.2% compared to the previous year to over 1.17 million. This marked the first time since the start of medical tourism recruitment in 2009 that the annual number of foreign patients exceeded 1 million. An analysis of card payment data showed that foreigners spent 1.4052 trillion Korean won in the domestic medical sector, averaging 1.53 million Korean won per person. By expenditure category, dermatology accounted for the largest share at 585.5 billion Korean won, significantly surpassing plastic surgery (359.4 billion Korean won). Amid this trend, domestic beauty and medical device companies are also benefiting. PharmaResearch and Classys, which holds lifting medical devices 'Volnumer·Shrink', are leading the growth in performance. PharmaResearch growth in the U.S. market has been notable. On a consolidated basis, exports to the U.S. increased to 5.9 billion Korean won in the first quarter of last year, up 467% from the previous year, followed by 8.3 billion Korean won (230%) in the second quarter and 9.6 billion Korean won (495%) in the third quarter, showing rapid growth. The securities industry expects PharmaResearch’s U.S. sales to nearly double from 34.2 billion Korean won last year to 61.5 billion Korean won this year. Profit forecasts suggest operating profit will exceed 300 billion Korean won next year and 360 billion Korean won by 2027. Classys is also maintaining high growth. Specializing in non-invasive lifting treatment devices such as high-intensity focused ultrasound (HIFU) and radiofrequency (RF), Classys is estimated to have surpassed 300 billion Korean won in annual sales for the first time last year. Sales increased rapidly from 140 billion Korean won in 2022 to 180.1 billion Korean won in 2023 and 242.9 billion Korean won in 2024, with operating profit growing over 30% annually. This expansion is attributed to the overall market growth driven by increased procedures using energy-based aesthetic medical devices (EBD) such as ultrasound and radiofrequency. Starting this year, sales expansion is expected in major markets such as the U.S., Europe, and China. Following Europe and Asia, it is also strengthening its approach to the Latin American market. An industry source stated, 'Foreign medical tourism demand is structurally expanding rather than being a short-term event, and aesthetic treatment trends are rapidly shifting toward non-invasive and skin improvement. Since domestic companies possess price competitiveness, clinical data, and overseas distribution networks simultaneously, this year will be when export achievements are fully reflected in performance.'   (ICE SEOUL)

Fonte notizia: The Chosun Daily