[Click eStock] "Metabiomed's Growth in Fillers and Skin Boosters Draws Attention... Substantial Profit Expansion Expected in 2027"

NH Investment & Securities has evaluated Metabiomed as having high mid- to long-term growth potential, noting that the company is expanding beyond its traditional dental and suture thread-centered business structure into PDO (Polydioxanone)-based biopolymer materials and the medical aesthetics sector. In particular, PDO-based fillers and skin boosters are expected to become the company's main future growth drivers.

Metabiomed is a medical materials company that has grown based on its dental materials business and currently operates in four business segments: dental, suture threads, medical, and cosmetics. Since its establishment in 1990, the company has built a sales network in more than 120 countries worldwide, securing a stable overseas revenue base.

In a report published on the 19th, NH Investment & Securities highlighted the PDO-based biopolymer business as a key investment point for Metabiomed.

PDO is a biopolymer material that naturally degrades in the body while inducing collagen production. It is used in a variety of medical aesthetics products, including biodegradable suture threads, facial lifting threads, fillers, and skin boosters.

According to industry analysis, there is growing interest in PDO-based products compared to conventional PLA-based fillers in the medical aesthetics sector. This is attributed to concerns over the risk of nodule formation and long-term residue associated with PLA products, which has led to increased demand for PDO products that offer relatively higher safety.

Metabiomed directly manufactures PDO-based biopolymers from the raw material stage and has established a vertically integrated structure that connects biodegradable suture threads, lifting threads, fillers, and skin boosters. NH Investment & Securities evaluated this as a competitive advantage that differentiates the company from simple OEMs or material suppliers.

Particular attention was given to the PDO-based skin booster product "Renuvol." NH Investment & Securities analyzed that Renuvol is attracting global interest, including from the Middle East, due to its fast degradation rate and high safety. The company is also working on improving the absorption rate and formulation of its PDO fillers, and it is expected that exports will begin in earnest after obtaining export approval in the first half of 2027, leading to significant revenue growth.

Expectations for earnings growth are also rising. NH Investment & Securities estimates Metabiomed's consolidated sales for 2026 at 114.1 billion won and operating profit at 21.3 billion won. Furthermore, from 2027, the company expects accelerated profit growth as the expansion of PDO-based materials and medical aesthetics businesses and increased exports are fully reflected in results.

The potential for profitability improvement due to the shift in business structure was also mentioned. As the company expands its business focus from traditional dental and suture threads to biopolymer materials, fillers, skin boosters, and beauty devices, there could be a rise in average selling price (ASP). The market is paying attention to the possibility that increasing the proportion of high-margin medical aesthetics products could lead to operating leverage effects.

From a valuation perspective, the company's undervalued status is also highlighted. NH Investment & Securities noted that Metabiomed's expected price-to-earnings ratio (PER) for 2026 is only about 7 times, and given the growth potential of the PDO-based materials business and the expansion of the global medical aesthetics market, there is a high possibility for a corporate value re-rating.

Baek Junki, a researcher at NH Investment & Securities, stated, "Metabiomed is a company that is adding medical aesthetics growth drivers based on its stable dental and suture thread business using PDO materials," adding, "With the growth of the global aesthetics market, the possibility for mid- to long-term corporate value re-rating is increasing."

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