Hugel has officially entered the Indian market with its botulinum toxin product, Letybo. The company aims to capitalize on the high growth potential of the Indian market while accelerating its expansion in the Asia-Pacific region.
On July 22, Hugel announced its entry into the Indian market during the Global Aesthetic Summit (GAS), held from July 19 to 21 in Goa, India.
Emerging markets are considered to have significant long-term growth potential due to rising incomes and access to affordable products. India, with a population of approximately 1.5 billion and a rapidly growing middle class, has seen a steady increase in demand for aesthetic medical services. However, the rate of botulinum toxin procedures remains low compared to the overall population. Hugel aims to achieve a 9% market share in the Indian aesthetic market this year as it seeks to establish a foothold.
At the GAS, Hugel collaborated with local distributor Aca Medical to enhance brand awareness and build a network of key opinion leaders (KOLs). Benjamin Chan, a KOL from Australia representing Hugel, highlighted the predictable treatment outcomes associated with Letybo's narrow diffusion characteristics, underscoring the product's competitive edge.
Hugel plans to conduct additional launch events and hands-on workshops with local distributors until July 24. The company intends to continue expanding academic exchanges with KOLs and strengthen its brand presence in the Indian market. This strategy will support Hugel's broader goal of expanding its business in the Asia-Pacific region and enhancing Letybo's competitiveness in the global market.
Hugel CEO Jang Doo-hyun stated, "India is a market with a very high preference and interest in K-aesthetics. Leveraging our strength as the number one toxin brand in Korea for ten consecutive years, we will lead the expansion into the Indian market and secure new global growth momentum."
* This article has been translated by AI.
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