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Sisram Medical says China will be its largest market by 2023

Sisram Medical Ltd. expects China to contribute more than 35% of its revenue by 2023, South China Morning Post reported.

The company, which provides energy-based cosmetic treatment systems worldwide, said its largest market in 2017 was the U.S., accounting for 25% of its revenue, followed by China with 21%.

By 2023, Sisram Medical expects 30% to 35% of its revenue to come from the U.S.

In an interview, Sisram Medical CEO Lior Dayan said growth in China will be due to economies of scale and rising demand for cosmetic treatments, among others.

Dayan said Israel-based Sisram Medical will use its positioning as a unit of China's Fosun International Holdings Ltd. to "bridge the west and the east," in addition to using its global channels in more than 80 countries.

Sisram Medical launched its Hong Kong IPO in 2017.