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 Shares in EndyMed, which makes devices that use radio waves to
rejuvenate skin, have surged 90 percent in the past year, with
demand soaring following approval by the U.S. Food and Drug
Administration (FDA) for its latest product.
So far in 2015, the shares are up 49 percent, against a 5.7 percent
rise in Tel Aviv's biomedical index, which includes biotech, medical
device and life sciences companies.
While the company's annual sales currently stand at only around $10
million, they are growing by 50 percent a year, with consumers'
desire for home-based treatments underpinning growth.
The global dermatology devices market is expected to double in the
coming years, according to researchers MarketsandMarkets, expanding
to $11.3 billion by 2019 from $6.6 billion in 2014.
Within the sector, home beauty devices are a growing component and
one in which many cosmetics companies, including giants like
L'Oreal, are trying to secure a stake.
EndyMed, which until recently focused on larger professional systems
to treat wrinkles or acne in specialist medical clinics and spas,
has now developed a home-use device called Newa.
The technology involves injecting heat into the skin's middle layer
to help rebuild collagen.
Critical to EndyMed's growth was the 2013 approval by the FDA for
the sale of its home device with a doctor's prescription. It is now
seeking approval to sell them over the counter. It already has
European Union approval to sell direct to consumers.
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As well as Europe and the United States, Asia is a key market,
especially China. A distributor of EndyMed's professional devices in
China, OHMK Medical Technology, has now bought 29 percent of the
firm.
"The potential is huge," EndyMed Chief Executive Elad Magal said of
the sector. "We are not L'Oreal, but if we do it right, the
potential is there."
(Editing by Susan Thomas)
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