Zylox-Tonbridge Announces Annual Financial Results for 2023, Demonstrating Robust Growth and Improved Profitability
With the launch of a series of cutting-edge products, Zylox-Tonbridge has positioned itself as a leading player in the neurovascular and peripheral vascular intervention market in
In 2023, Zylox-Tonbridge's commercial reach extended to 19 overseas countries. In addition to the EU market, the company has ventured into promising regions such as the
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Differentiated and Comprehensive Product Portfolio Fuels Long-term Growth
In 2023, the company's product portfolio reached another milestone of success. As of the date of the announcement, the company had developed a comprehensive portfolio of 64 products, including 39 products approved in
The recent approvals of the ZYLOX® Penguin Venous Stent System and the ZYLOX® Phoenix Peripheral Detachable Fibered Coil Embolization System mark a significant milestone, reinforcing Zylox-Tonbridge's advantages in the field of peripheral venous treatment in the Chinese market. Driven by clinical demand-focused R&D capabilities and a streamlined development process, the company has successfully launched a series of upgraded products, including Clot Retriever Device II, UberVana Drug-coated PTA Balloon Catheter, to meet physicians' evolving needs and offer patients more comprehensive solutions.
In addition to its in-house research and development, the company also partners with global innovators to develop advanced medical technologies and enrich its product pipeline. Through strategic cooperation with Avinger, Zylox-Tonbridge is expected to commercialize a series of OCT imaging-guided catheter-based devices in the
Highlighted Operational Efficiency Results in Increasing Profitability
In 2023, the company achieved notable reductions in its R&D, sales, and management expense ratios by 20.4, 10.9, and 11.1 percentage points respectively from the previous year, propelling a sustained increase in profitability.
As VBPs become increasingly normalized, Zylox-Tonbridge has leveraged the opportunities to increase market penetration. The company's Phoenix Neurovascular Embolization Coils have successfully won bids in multiple rounds of VBPs, achieving rapid volume growth, reaching approximately 10% as of the end of 2023. The successful bidding of several key products in multiple VBPs, including SilverSnake Intracranial Support Catheter, UltraFree® DCB, and Thrombite™ CRD, underscores the company's strong commercialization ability and operational efficiency. As the industry landscape evolves, the company is poised to reinforce its advantages during this transformative period by seizing the opportunity.
As a result of the in-house innovative technology platforms and integrated research and development process, the Company's R&D expense ratios have impressively decreased from 69.9% in 2022 to 49.5%. Moreover, Zylox-Tonbridge has sustained its commitment to stable and efficient manufacturing, leading to its high-quality products being recognized by the market.
The company's international business continues its rapid expansion. In 2023, its overseas revenue hit
Looking forward, Zylox-Tonbridge plans to continue expanding its innovative product portfolio as well as improving operational efficiency, which will broaden its competitive edge and solidify its position as a leading vascular interventional medical device platform.
About Zylox-Tonbridge:
Zylox-Tonbridge is one of the leading players in the neuro- and peripheral-vascular interventional medical device market in
As an integrated medical device company supported by our in-house R&D and manufacturing capabilities, proprietary technological platforms, and commercialization capabilities, we strive to provide patients with high-quality and affordable medical devices and services, so that everyone has access to the high-quality life brought by advanced medical technology.
For more information, please visit our official website: www.zyloxtb.com.
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