If we look at the high growth opportunities body contouring is very exciting. We will talk about that in great detail today but we have an area in the EDU three segments, which are particularly exciting, one is the home use devices and I believe Fabian has brought some devices here with him so that he can do a bit of show and tell. They are available at some of the major retailers right here in Manhattan as they are throughout North America as well as in the UK and certain other international markets. It’s a rapidly growing marketplace, there are numbers around this market is the numbers range approximately $350 million today growing at a compounded growth rate of over 25% that’s because people want the treatments. The social media is driving it I think people who go to a professional wants maintenance at home. They want treatments for acme, wrinkle reduction hair removal and the like and we will get through our offering and our unique position in the marketplace later today, teeth whitening and other blockbuster opportunity, we’ve recently introduced this last quarter. the Tanda Pearl is compete head-to-head with other home-based, other devices and whitening solutions.
It also offers potentially a treatment almost as good, if not as good, as a professional treatment, and we’ll be talking about that later today. and skin lightening, we talked about elure before, we have a significant activity underway, which we’ll talk about this afternoon both in the areas of scientific research as well as expanding our distribution channel and gaining regulatory approvals, because this marketplace is explosive, this marketplace in North America is over $1 billion, it’s about $300 million of just a professional, professionally distant skin lightening products.
But outside the U.S., it’s everywhere, outside the U.S., the estimates run as high as $14 billion. From the standpoint of financial strength, we have the strongest balance sheet of the industry with over $142 million in cash and cash equivalents. We’re expanding our recurring revenue; our recurring revenue right now is approximately 31% of our total revenues. we’re working diligently to improve our margins both from the standpoint of cost of goods reduction and operational efficiencies. and we are the clear market leader, if we look at publicly traded companies; we have 35% of the total available market.
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