[Click eStock] "IL Science, Growth Momentum Driven by Hair Loss Treatment Devices and Hair Loss Shampoo"

[Asia Economy Reporter Hyunseok Yoo] Hana Financial Investment analyzed on the 24th that the growth momentum of IL Science lies in hair loss treatment devices and hair loss shampoo. No investment opinion or target price was provided.

IL Science is a company that produces silicone lenses used in LED lighting groups. It is known that plastic and glass lenses, which are most commonly used, require frequent replacement due to heat resistance issues (yellowing phenomenon). Doohyun Kim, a researcher at Hana Financial Investment, said, "Silicone lenses have excellent thermal efficiency and photothermal properties, leading to an increasing trend of orders for B2B clients such as the Public Procurement Service," adding, "As of the end of the first quarter, we have secured an order backlog of 30 billion KRW."

He explained, "Currently, LED silicone lenses are expanding their range of use from vehicle headlights to hair loss treatment devices," and "IL Science is conducting tests with domestic clients for vehicle headlights, and plans to officially start sales of hair loss treatment devices (LED scalp care mask - Polinic) from August."

Researcher Kim forecasted that IL Science's future growth drivers will be medical devices for hair loss and shampoo products. He said, "The hair loss medical device is the LED scalp care mask, and its difference from products released on the market is that it simultaneously applies microcurrent (with its own patent) and LED light therapy," adding, "The domestic hair loss market size was 1.6 trillion KRW in 2022 and is growing at an average annual rate of 25%. Notably, there is a remarkable growth in home care products, moving away from past procedures such as hair transplantation."

He emphasized, "IL Science started product development in 2017 and began online sales on the 23rd of last month, with plans to actively expand distribution channels from August, expecting an initial volume of 2,000 units," and "IL Science acquired a 51% stake in Ahez, famous for the ‘Sangmin Lee Shampoo,’ which is currently known as the third largest company in the industry. By expanding its product lineup from scalp treatment devices to hair loss shampoo, we expect growth as a medical device and B2C company."

This content was produced with the assistance of AI translation services.