Allergan, Cynosure Inc. (A Subsidiary Of Hologic, Inc.) and DAEWOONG PHARMACEUTICAL CO. LTD are Dominating The Korea Aesthetic Market in 2020

Korea Aesthetic Market is expected to grow with a CAGR of 15.9% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

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Korea aesthetic market is a highly consolidated market, which includes a specific number of key players. The market has witnessed increased strategic developments owing to favorable market scenarios.   

The major players dealing in Korea aesthetic market are introducing a strong range of products provider along with launching new products and adopting strategic initiatives such as acquisition, agreement into the market. This helped companies to maximize sales with an enhanced product portfolio.

For instance

  • In October 2020, Allergan had recently announced a settlement with Luminera, a privately-held aesthetics organization based in Israel with a portfolio and pipeline of dermal filler products. This could help in the growing product portfolio of the organization.

Allergan is the dominating player in the market, and the other players in the market are Candela Medical, Merz North America, Inc. (Merz Pharma), INMODE Group, Bausch Health Companies Inc., Galderma Laboratories, L.P., Cynosure Inc (Hologic Inc.), Bison Medical, BLUECORE COMPANY, HUGEL Inc, Hironic Co. Ltd, UNION MEDICAL, WEERO, AMIINC, DAEWOONG PHARMACEUTICAL CO. LTD,among others.

 Korea Aesthetic MarketAllergan

Allergan was founded in 2013 and is headquartered in Dublin, Ireland. The company mainly delivers life-enhancing innovations to aid people around the globe live safe and healthy life. The company markets a product portfolio primarily focused on medical aesthetics, eye care, the central nervous system, and gastroenterology. The company business segment is U.S. Specialized Therapeutics, U.S. General Medicine, International. The market focus services lie under U.S Specialized Therapeutics. The company is engaged in the continuous development of aesthetic services.

  • In September 2020, Allergan launched SkinMedica offered by dermatologists, plastic surgeons, and medical aestheticians nationwide. DiamondGlow is a next-level skin resurfacing treatment that simultaneously exfoliates and extracts as it infuses the skin with advanced serums. This will increase the product portfolio of the company

The company has a wide presence across Asia-Pacific, Europe, North America, Middle East, and Africa. The company has various subsidiaries like ZELTIQ Aesthetics (U.S.), Actavis Group ehf (Iceland), Tobira Therapeutics Inc (U.S.), Retrosense Therapeutics LLC (U.S.), Bonti Inc (U.S.), among others.

Cynosure Inc. (A Subsidiary of Hologic, Inc.)

Cynosure Inc. (A Subsidiary of Hologic, Inc.) was founded in 1991. The company headquartered is in Seoul, South Korea. The major focus of the company is to develop, manufacture a wide range of energy-based aesthetic products and systems for medical treatment. The company is engaged in providing products in categories such as body contouring, onychomycosis, skin and hair removal, where skin and hair removal and body contouring is the market focused category.

For instance-

  • In August 2020, Cynosure Inc. (A subsidiary of Hologic, Inc.) had hosted the 8th Korean Society of Aesthetic Plastic Surgery Online Spring Conference Replay Service Guide. The initiative by the company was to create awareness and brand identity about the use of aesthetic services and devices. This will create positive growth in the market

The company has a wide presence across North America, Europe, Asia-Pacific, Latin America, and the Middle East, and Africa. The company has initiated many strategic initiatives to expand its market.

DAEWOONG PHARMACEUTICAL CO. LTD.

DAEWOONG PHARMACEUTICAL CO. LTD., headquartered in Seoul, South Korea, was founded in 2002. The major focus of the company is to create good drugs to protect the health of citizens and constructing a welfare nation through a healthy society to contribute to the development of the company and to serve society. The company has product categories such as Biologics, Chemicals, and CTD List, in which the market-focused segment is Biologics. The company is engaged in continuous partnerships and product launches.

For instance:

  • In February 2020, DAEWOONG PHARMACEUTICAL CO., LTD. product  Nabota (Botulinum Toxin) had obtained its marketing authorization in Brazil, the largest market in Latin America. The Brazilian National Sanitary Surveillance Agency approved marketing authorization for Nabota’s indication of improving glabellar wrinkles and treating upper limb spasticity after stroke. Nabota had currently obtained marketing authorization in nine Latin American countries, including Mexico, Panama, and Bolivia, and is planning to further solidify its position in the Latin American market by entering Brazil, the largest market in Latin America, with this newly acquired marketing authorization.

This will increase the revenue and global presence of the company

The company has a wide presence across Korea. The company also has various subsidiary companies such as D.N. Company Co. Ltd (South Korea), Liaoning Baifeng Industry Co, Ltd (South Korea), among others.