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Technology Factors: Technology companies are tripping all over themselves in order to come out with new technologies and gain market share. With over 30 companies offering devices for hair removal alone, choosing technology is an important part of our offering. The cost of picking the wrong device can increase your cost substantially. We have seen that in some of our competitors. They can't offer hair removal for large body areas (legs and backs) and make a profit. This has forced them to eliminate these areas from their offering.
The addition of treatments like Thermage, Collagen Point Induction, and Pointe Lifts place us in direct competition with plastic surgeons.
Regulatory Issues: We expect regluatory issues to continue to increase. This benefits us by increasing the barriers to entry in the marketplace. There are currently many states that have little if any regulation about physician oversight with these medical devices. As states and state medical boards look more closely into these new treatments it is expected that the majority of states will only increase the ammount of physician oversight required. The fact that there are numerous non-physicians taking money away from physicians and the occasional horror story should also factor in. If and when increased regulation takes place it will impact our competitors to a great extent. We predict that all states will settle around Surface's model; Direct, on-site physician oversight.
Anticipated Changes & Trends in Industry: As the population gets older the market will only grow. We also expect to begin see a shift away from day-spa treatments in favor of proven medically based treatments. Non-invasive technologies will also take off as more treatments come online.
Changes in Medicine: The move towards technology solutions should present us with growing opportunities. As we grow our patient base we become more attractive to other businesses looking for a foothold in the market.