Bioplus enters Middle east following 'Big Market' China-India
Whitepaper | Reporter Jang Ha-Eun 2020.10.20 10:11
“We will open the second bioplus era for a further, higher leap forward.” Said CEO Chung Hyun-Kyu
Differentiated technology, ‘MDM filler’ for product advancement
Establishing a Forward Base for the World Market Leap in Big Market China and India
Creating a luxury bio-beauty platform in Haenam, china
BioPlus (CEO Chung Hyun-kyu), which launched the company’s “Bio Plus Season II” era in October last year, marked its first year. Despite the new Covid-19 virus infection (Covid-19) pandemics that have hit the world, Bioplus is strategically utilizing HA filler with global technology competitiveness and its strength to make the most of the global export network it has secured as a medical company, and is also carrying out diverse and innovative business strategies such as securing beauty aesthetic products and global hubs in addition to filler. As such, not only the same medical bio-device industry but also the medical export industry is paying attention to this small and medium-sized companies that lead the post-covid industry.
■ CEO Chung Hyun-kyu said, “We will open the second bioplus era for further and higher leaps.”
Founded in 2003, Bioplus has developed bio products with the aim of “Beauty upward standardization” and has launched filler and anti-adhesion drugs as a company that pursues human management of customer satisfaction. Strategically, it is a so-called “medical bio powerhouse” that has steadily expanded its supply to target overseas markets. As its main product, it has been continuously developing filler products that are different from previous products.
A year ago, CEO Chung Hyun-kyu said, “We completed the expansion of the complex space by building a second plant in Sungnam in order to enhance the speed, efficiency, and integration of management through the integration and expansion of Daejeon factories, research institutes and headquarters, and to strengthen R&D functions such as preemptive expansion of production capacity and new products,” and added, “By this opportunity, we will open up the era of the 2nd Bioplus for further and higher leap.”
Until now, Bioplus has been sequentially formulating its mid- to long-term comprehensive plans through leap forward, including GMP and CE certification at its new Sungnam plant, development of new products and securing overseas forward bases, expansion of existing export lines and exploration of new markets.
With confidence, the company has also started its IPO on the KOSDAQ. The company has started to list itself in earnest in order to launch an IPO on the KOSDAQ. Internal maintenance is in full swing in line with listing requirements after confirming listed companies. With the idea of getting on the KOSDAQ at an appropriate time in mind, the company is seeking to get a proper evaluation of its corporate value in the market.
■ ‘MDM filler’ for differentiated technology and product enhancement
Bioplus’ filler technology was completed with ‘MDM filler’. By applying differentiated manufacturing technology to existing hyaluronic filler products, it is a pure domestic technology of Bioplus that has been recognized as a new technology standard in global markets. It succeeded in upgrading its product called MDM filler, which applies so-called “high-end” technology to hyaluronic acid filler.
The MDM filler has improved fundamental problems, such as side effects that often appear, for example like poor persistence or lack of molding ability after treatment, despite many advantages of filler with hyaluronic acid as the main ingredient. This is the result of the technology that has achieved success in differentiation by compensating for shortcomings in the viscosity, safety, and sustainability of raw materials and maximizing the original advantages of hyaluronic acid materials.
As a result, the company competed globally with its own and differentiated manufacturing technology that can compete with existing global companies with domestic filler products. In particular, it has maintained its dominance in the market by sticking to relatively high ‘value’ that reflects its technological superiority over the same product line. As MDM filler products, it is producing ‘Hyal dew’ and ‘Skin Plus Hyal’ as its major brands.
■ Building a forward base for the leap into the global market in Big Market China and India and creating a luxury bio-beauty platform in Haenam, china
Before the Chinese government’s official declaration of a free trade port last june, Bioplus established Bioplus Hainan Co., a joint venture aimed at producing filler and providing premium medical and health services, within the Bose Demonstration Zone in Haenam, China last april. In addition, the company has applied for a site sale to build a luxury biostatic platform in the Gangdong New District of Haikou City, which is equivalent to the new city development plan of Haikou City.
The plan is to produce fillers directly in China and Hong Kong and Southeast Asian markets by using its technology license, and to sell and export them, along with a well-being-health medical hospital franchise with an advanced concept through strategic partnerships with hospitals located in the Boaoleocheng Special Medical Tourism Zone in Haenam, China. The franchise business, which merged K-Bio Industries with K-Health, is expected to serve as a catalyst for the explosive spread of bioplus products as well as related products in China in the future.
Despite the industry’s overall sluggishness caused by the Covid-19 incident, the company is continuing to take the lead in the new era, and is formulating its ambitious plan to lead the post- Covid-19 by securing a bridgehead to properly target China and India, which have huge potential markets, by linking changes in the world’s perception of K-Bio, which has recently been shown in the quarantine of korea in Covid-19 incident.
Meanwhile, Bioplus has also obtained local licenses for its “Dermal Filler” in India, which has the potential of the world’s top 10 cosmetic surgery and treatment market. India has a population of 1.3 billion, second only to China, and is already a major country valued as a Big Market with huge potential.
Prior to this, the company already established local branches in Dubai and New Delhi from 2018 and finally completed registration in April. India has a large cultural gap with Korea, including population composition and social class, but the interest in beauty is considered to be comparable to that of other developed countries.
In particular, the demand for filler treatment among petit moldings is showing explosive growth, while it also has know-how through the influence of the Korean Wave and the establishment of existing high-end brands, so the meaning of registration of permits is expected to provide important opportunities for entering the medical and beauty export markets and high sales growth.
“As a filler manufacturer that has been trying to set a clear direction for growth potential in the Petit plastic surgery market, we are confident that the entry of Bioplus into the Middle East, which is based in China, India and Dubai with unlimited market potential, will be ‘New normal’,” a company official said.