[Click eStock] "T&L, Evolving into a Wearable Medical Device Platform Company"

[Asia Economy Reporter Hyungsoo Park] Shinhan Financial Investment analyzed on the 5th that T&L is transforming from a leading wound dressing company into a wearable platform company. The target stock price was set at 98,000 KRW.

Listed in November 2020, T&L is a leading domestic wound dressing company. Its main product lines include wound dressings, orthopedic fixatives, and high-performance materials. Wound dressings are medical devices designed to protect wounds, prevent contamination, absorb exudate, and prevent loss of blood or bodily fluids. T&L entered the U.S. trouble care market in ODM form starting in 2018.

Researcher Donggeon Lee of Shinhan Financial Investment explained, "T&L's strength lies in the high competitiveness of its core technology and its expansion of business based on this. Sales have steadily increased, and high profit margins have been maintained."

He added, "Based on independently developed high-performance medical material technology, unlike competitors, T&L has established a full lineup of wound dressings including hydrocolloid, polyurethane foam, alginate-based, as well as hydrogel, silicone, and film."

Furthermore, he emphasized, "Product quality is maintained at the highest global level. The technological competitiveness is confirmed by the fact that major products are recognized by domestic and international pharmaceutical companies and medical device manufacturers and supplied as ODM products."

He analyzed, "Due to the nature of high-margin products, an operating profit margin of over 20% has been recorded annually. The export ratio rapidly increased from 23.6% in 2017 to 39.4% in 2020."

The researcher introduced, "T&L is currently transforming into a skin-related wearable medical device platform company through new business entry in the high-growth wound dressing market."

He continued, "Representative new businesses include entry into the smart patch and microneedle-based transdermal drug delivery system (TDDS) market, and hemostatic agents. The smart patch is a wearable medical device developed as a skin-attachment type that measures various biosignals such as body temperature, heart rate, and oxygen saturation."

He added, "In advanced countries, demand is rapidly increasing to measure biosignals and improve lifestyle patterns based on them due to the spread of well-being culture driven by aging populations and rising income levels."

According to global market research firm TechNavio, the global temperature sensor market is expected to grow at an average annual rate of over 11%, from $4.75 billion (approximately 5.4 trillion KRW) in 2016 to $8.2 billion (approximately 9.3 trillion KRW) in 2021.

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