PENINSULA MEDICAL: Driving Innovation through Clinical Needs and 'Medicine-Engineering Integration' to Lead Multiple Aesthetic Medicine Segments

With nearly 400 employees, products covering more than 70 countries worldwide, a presence in 85% of China’s leading hospitals, and over 200 global patents, Peninsula Medical was featured this year as an “intelligent manufacturing” enterprise in the CCTV documentary *Craftsmanship in Intelligent Manufacturing: When Happiness Knocks*, sparking our interest in the company.

Lei Xiaobing, founder of Peninsula Medical and member of the Fosun X-Future Entrepreneurship Camp, was formerly a hepatobiliary surgeon—a professional experience that ultimately led him to pursue a path in medical device innovation.At that timeMost hospitals in China rely on imported equipment, which is extremely expensive. Even if hospitals can afford the initial purchase, they may still face substantial maintenance costs down the line.This made Lei Xiaobing realize the industry's predicament and seek solutions.

However, the entrepreneurial journey was not smooth sailing; Shenzhen Peninsula Medical Co., Ltd. formally entered the market through the import product trade.R&D and Manufacturing of Medical Devices in Dermatology, continuously innovating clinical products in response to clinical needs, and through more than a decade of dedicated efforts, has finally secured a leading position and established a firm foothold in multiple niche sectors.

Peninsula Medical R&D Center

Peninsula MedicalIts business has been organized into three divisions: the Medical Aesthetics Division, the Postpartum Rehabilitation Division, and the Home Use Division.The Medical Aesthetics Division primarily focuses on cosmetic and plastic surgery as well as the treatment of dermatological conditions; the Postpartum Rehabilitation Division specializes in postpartum recovery treatments for obstetrics and gynecology patients; the Home Use Division mainly targets low-level laser therapy for hair regrowth and the treatment of psoriasis and vitiligo in home settings.

Why is this classification adopted? The reasons can be broadly inferred from the R&D direction of Shenzhen Peninsula Medical Co., Ltd.

Peninsula Medical initially entered the dermatology sector of the medical aesthetics industry, focusing on the research and development of medical devices for conditions such as vitiligo and psoriasis.For these categories of diseases, treatment has progressively evolved from conventional pharmacotherapy to narrowband UVB phototherapy, and further transitioned to 308-nm monochromatic excimer light therapy; however, patients still face a protracted treatment course.

Home Psoriasis and Vitiligo Treatment Device

A dermatology patient left a deep impression on Lei Xiaobing. The patient needed to travel long-term between Jiashan, Zhejiang, and Huashan Hospital Affiliated to Fudan University in Shanghai for treatment. For just a few minutes of ultraviolet light therapy, the journey consumed a significant amount of time. AndMany skin conditions require repeated, multiple treatments, causing significant suffering for patients and creating an urgent demand for home-use therapeutic devices.

This allowed Lei Xiaobing to see industry opportunities,Peninsula Medical swiftly established a Home Care Division, dedicated to the miniaturization and home adaptation of medical devices.This niche sector, driven by the practical needs of clinicians and patients, has very clear requirements for equipment. Based on the same logic of demand,Shenzhen Peninsula Medical Co., Ltd. later developed a laser hair growth cap that became widely popular in the United States.

Home-use Laser Hair Growth Cap Product

In 2012,Peninsula Medical has developed a patented technology, at the request of U.S. clients, that demonstrably enhances vaginal tightness, and has deployed it in beauty salons and select hospitals.After gaining clinical experience with the product, obstetricians and gynecologists have found that it yields highly satisfactory outcomes in the treatment of various pelvic floor disorders, including stress urinary incontinence and sexual dysfunction.To better serve this niche market, Shenzhen Peninsula Medical Co., Ltd. established its Postpartum Rehabilitation Division through a fission-based organizational model.

In terms of specific products, Shenzhen Peninsula Medical Co., Ltd. has chosen a path of differentiated development.While foreign companies focused on skin rejuvenation, hair removal, and spot reduction, Peninsula Medical chose to develop entirely new technologies, such as,Big V Gold Radiofrequency Skin Tightening and Body Contouring Products, Fourth-Generation Gold Microneedling Deep Wrinkle Removal Products, New Shouheng 308 for Treating Vitiligo and Psoriasis, Laser Hair Growth Devices for Hair Loss Treatment, etc.. In niche segments, multiple products from Peninsula Medical have achieved the number one position, with some even being the sole product in their respective fields.

Product Showcase: Medical Aesthetics Division and Postpartum Recovery Division

According to a 2017 survey report by U.S.-based Medical Insight, Shenzhen Peninsula Medical Co., Ltd. ranked among the top five medical aesthetic device suppliers in China, with the other four being foreign manufacturers or overseas distributors. The 2018 annual report from Global Info Research, a renowned global market research firm, named Peninsula Medical as “the most promising brand in global dermatology over the next five years.”

The successful commercialization of the product is inseparable from the R&D team at Peninsula Medical. Among its nearly 400 employees, Peninsula Medical boasts an R&D team of over 100 members. In terms of R&D investment, the company has consistently allocated nearly 25% of its annual revenue to research and development over the past decade.Currently, Peninsula Medical has obtained more than 250 granted patents, with over 100 patent applications pending. The number of patents accounts for nearly 50% of the domestic industry’s specialized sector.

In terms of R&D, Peninsula Medical proceeds from two dimensions:First, introduce technologies that are not yet available in China. Prior to introduction, Shenzhen Peninsula Medical Co., Ltd. engages in in-depth discussions with clinicians to assess the market potential of these technologies and strives to localize them to meet the needs of Chinese users. Second, consult the clinicians who have the most frequent patient contact regarding current challenges, their proposed solutions, and patient needs.

For instance, the IU red-purple light device for vitiligo treatment was developed. Professor Zhao Guang, Director of the Department of Dermatology at the Beijing Air Force General Hospital, discovered through more than 20 years of clinical practice that heating the skin to a certain temperature with infrared light followed by ultraviolet light irradiation can effectively treat vitiligo.Shenzhen Peninsula Medical Co., Ltd. rapidly assembled a “medical-engineering integration” team, gradually translating professors’ clinical findings into commercial products., obtained NMPA (formerly CFDA) certification in 2015 through clinical trials and achieved impressive sales performance.

Peninsula Medical has established collaborations with major academic institutions and leading niche market players. For example,In the field of medical aesthetics and plastic surgery, Peninsula Medical has established collaborations with Shanghai Ninth People’s Hospital, Shanghai Jiao Tong University School of Medicine, and the Plastic Surgery Hospital of the Chinese Academy of Medical Sciences (Badachu Hospital). With the former, it is conducting joint research through six project teams across six departments.

In the field of pelvic floor rehabilitation, Peninsula Medical has collaborated with more than 50 medical institutions, including Peking University People’s Hospital, Shengjing Hospital of China Medical University, and Fujian Provincial Maternity and Child Health Care Hospital. Its collaboration with Shenzhen Hospital of Peking University involves the clinical treatment of sexual dysfunction., Peninsula Medical has collaborated with clinical experts to conduct clinical monitoring, data analysis, and numerous cutting-edge basic research studies.

Mentioned by Lei Xiaobing in the interviewModular Innovation: Achieving Innovative Application and Integration of Existing Technologies Through In-Depth Understanding of Clinical Needs, develop specific products for specific issues and continuously refine them.

The innovative application of technology is inseparable from the basic research that Shenzhen Peninsula Medical Co., Ltd. has long adhered to.The currently popular pelvic floor rehabilitation product has obtained 15 patents, with the earliest invention patent dating back eight years. Although the product was launched in October last year, the corresponding research has been ongoing for many years.

Current advanced technologies offer rapid and highly effective treatment for postpartum urinary incontinence, pelvic floor disorders, and menopausal conditions in women. Whereas previous protocols often required 20 to 30 sessions, only 3–5 sessions are now needed. This reduction in hospital visits not only enhances patient convenience but also yields superior therapeutic outcomes.Future product upgrades and development will rely on new requirements proposed by clinicians during use, which Peninsula Medical engineers will gradually refine and complete.And this is precisely one of the keys to the success of Peninsula Medical.

To ensure long-term, stable development, many of the company’s executives are continuously pursuing further education. Lei Xiaobing is currently pursuing a Ph.D. in Finance at Tsinghua University. He also participated in the Fosun Star Future Entrepreneurship Camp, where he gained insights into corporate development strategies and developed a deeper understanding of capital.

In 2019, the revenue of Peninsula Medical was mainly derived from its Medical Aesthetics Division and Home Use Division. This year, Peninsula Medical’s laser hair growth cap alone sold more than 20,000 units within 15 days on Xiaomi Crowdfunding, generating over RMB 30 million in revenue. As of the end of May, orders for the laser hair growth cap alone had exceeded RMB 100 million.

Peninsula Medical Home-Use Laser Hair Growth Cap Display

While achieving rapid revenue growth, Peninsula Medical has always adhered to its founding principle that "maintenance should not be a source of profit."While helping users carry out repairs at a lower cost, Peninsula Medical has also gained user recognition through this strategic approach, further safeguarding the strong reputation of its products.

For Shenzhen Peninsula Medical Co., Ltd., domestic brands are experiencing rapid growth in the medical aesthetics sector, with improvements in both brand influence and service quality. Amid the trend of import substitution, Chinese manufacturers are poised to seize greater development opportunities.

Lei Xiaobing stated,He is highly optimistic about the development prospects of both the medical device industry and the medical aesthetics industry.On one hand, this is due to people’s increased financial strength and heightened emphasis on life and health. On the other hand, it is driven by the growing demand for beauty.The medical aesthetics market has grown at an average annual rate of 15% over the past decade.The future of the medical aesthetics industry holds vast prospects, as the pursuit of beauty will drive even stronger market demand!

Fosun·Star Future Institute is an incubation and investment platform focused on the broader health sector, established by Star Future Capital in reliance on Fosun and Fosun Pharma. Adopting a “community + incubation + investment” model, it explores frontier innovation areas, focuses on entrepreneurial talent, and secures early-stage investments in future unicorns.

In 2020, the Big Health Entrepreneurship Camp launched its second cohort. Targeting entrepreneurs in the medical and healthcare sector and aspiring innovators, it invited top-tier global mentors and introduced six core incubation modules, offering entrepreneurship courses with the most profound industrial background and practical experience in China.

Students interested in the Fosun Xing Future Entrepreneurship Camp may add the author on WeChat.