Lutronic

Lutronic Overview

Company Headquarters: Massachusetts, US

Founded: 1997

Workforce: ~ 250

Company Working: LUTRONIC is a manufacturer and supplier of aesthetic medical devices. The company offers skin care products for melisma, soft tissue incision and tattoo eradication, wrinkle reduction, body and facial contouring, and melisma. The business invests a sizeable portion of its earnings on research and development, developing innovative software to investigate the prospective applications of medical lasers in urology, neurosurgery, and other surgical. specialties. The company sells skin care products online across the US and Europe. The business invests in research and development, developing innovative software to look into the prospective applications of medical lasers in the fields of urology, neurosurgery, and ophthalmology. Lutronic offers customer service to all countries. Moreover, Lutronic spends more than 15% of company revenue on R&D and has more than 270 active and pending patents worldwide. Additionally, Lutronic maintains significant production facilities in Korea, as well as locations in the US, Germany, France, China, and Japan.

Strategy

LUTRONIC aims to establish facilities and strengthen connections with local suppliers in order to grow its distribution network globally. Additionally, it also focused is to developing aesthetic medical devices. The company invests substantially in sales and marketing to ensure the success of newly announced products. In addition, the company is working to expand its footprint in new areas. Moreover, it concentrated on investing in its products, enhancing its operational infrastructure, and cultivating ties with its distributors. Furthermore, it focuses on creating products that provide distinctive features and advancements are not present on the market today.

Company Snapshot

$58.1M

Revenue

250

Employees

1997

Founded

Massachusetts, US

Headquarters

SWOT Analysis

Strengths

Global innovator company in aesthetic medical devices
Versatile range of products in aesthetic and medical lasers
Spends 15% of revenue for the R&D
270 current and pending patents
Presences across the world
Strong distribution network
Third largest global player in skin rejuvenation market
Strong brand recognition
Intense research and development capabilities
Strong global presence in over 65 countries
Robust supply chain

Weaknesses

Less products for tattoo removal treatment
Limited business presence in an underdeveloped region
Dependence on key products

Opportunities

Lutronic have an opportunity to collaborate with the companies using pico+nano technology for making the lasers
They are well established players have an opportunity to expand their market in other regions
Dependence on key products
New product launches and expansion into untapped markets
Increasing demand for RF Microneedling devices

Threats

Different pricing policies of different market
Stringent norms and regulations of device manufacturing regulatory bodies
Regulatory and legal risks
Pricing pressure from governments and insurance companies

Key Developments

Date	Approach	Development
May, 2014	Product launch	The company’s products were introduced in 32nd annual meeting of Latin American Dermatologists (RADLA) held in Santiago, Chile.
May, 2014	Product launch	Spectra was launched in same 32nd annual meeting of Latin America Dermatologist (RADLA) which was held in Santiago, Chile. The product have four distinct Q-switched mode wavelengths – 1064 nm, 532 nm, 585 nm, 650 nm.
May, 2014	Product launch	In the same 32nd annual meeting in Latin America Spectra XT was launched. The product has extended capability of clinicians with the use of two wavelengths 595nm and 660nm, to handle inflammatory and pigmented targets easily, safely and effectively.
October, 2014	Product launch	The product Spectra XT was launched in European market. The product was launched in 23rd European Academy of Dermatology and Venereology (EADV). This meeting was held in Amsterdam, Netherland. The expansion was done by the company in other geographical region.
February 2019	Product Approval	The U.S. Food and Drug Administration has approved the Lutronic Genius RF Microneedling Platform or radiofrequency microneedling. Lutronic Genius RF microneedling platform is used to reduce mild to moderate the appearance of wrinkles, scarring, and sagging skin

Product Offering

Lutronic
- Laser Removal Lasers
- RF Microneedling

Financial Performance

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