[Press release] “Let’s get 240 million filler Market”…Bio companies throw their hats into the ring
Article input time 2020-06-03 11:34
Domestic bio companies are making inroads into the filler market, which has been growing recently. filler, along with Botox, is a representative aesthetic product drawing attention as interest in beauty increases. In particular, filler is a non-payment item that is not only more profitable than medicines and other medical devices, but also less demanding regarding manufacturing and licensing regulations. It is considered one of the new candidates for cash cow in that it is also easy to enter overseas markets.
Bioplus is also planning to launch ‘MDM filler’ within the first half of this year and make full-scale inroads into South Korea. MDM filler is also a product that proved its excellence first in Asia, the Middle East, and Europe, so the requests for technology exports and joint production are continuing. MDM filler is known to have applied cutting-edge technology to all manufacturing processes such as bridging, material composition, and refining process improving the problem of lack of moulding and decreasing persistence which was frequently found in existing hyaluronic acid filler procedures.
Currently, the domestic filler market is dominated by mid- and large-sized companies such as Hewzel, Huons, LG Life Sciences, Ildong Pharmaceutical and JW Pharmaceutical. However, with the emergence of bio companies armed with rich overseas market experience and differentiated technology, the industry is paying keen attention to whether there will be any changes in the market.