Domestic medical aesthetics companies are accelerating their efforts to penetrate overseas markets. Building on the growing demand for K-aesthetics, they are establishing direct sales systems in the U.S. and securing local distribution networks, moving beyond simple exports to strengthen their global business foundations.
According to Shinhan Investment Corp. on August 3, the global medical aesthetics market is expected to grow from $25.9 billion in 2024 to $46.3 billion by 2030. As interest in non-surgical cosmetic procedures rises, domestic companies are speeding up their business expansion, particularly in international markets.
Hugel is enhancing its global market strategy with its botulinum toxin product, Letybo. Following its recent entry into the Indian market, the company has launched a hybrid sales model in the U.S. that combines direct sales and partner sales. The U.S. is the largest botulinum toxin market in the world, and establishing a direct sales system is expected to improve both distribution efficiency and profitability. Hugel has initiated direct sales in the U.S. this month, building local personnel and order systems, with the average selling price (ASP) in the U.S. reported to be about 8 to 10 times higher than in Korea.
A Hugel representative stated, "The biggest change this year is the parallel implementation of direct sales in the U.S. We are continuously expanding our approvals in key botulinum toxin markets such as the U.S., China, Europe, and Brazil." The company aims to increase the number of countries with botulinum toxin approvals from over 70 to more than 80 by 2028.
Classys also identifies strengthening its overseas business foundation as a key driver for long-term growth. In March, it acquired Brazilian medical device distribution group JL Health and secured distribution companies in Colombia and Argentina. Previously, in 2024, Classys merged with skincare medical device company Iruda to expand its product range to include microneedle radiofrequency (RF) and lasers, while pursuing entry into the U.S. and China and establishing a direct management system in Brazil.
A Classys representative remarked, "Internalizing the distribution network is not just about securing sales channels; it is part of building a global business platform that encompasses customer experience, branding, clinical, education, and marketing. Based on this, we aim to maximize growth potential in each country and lead the global medical aesthetics market."
Pharmarich is broadening its overseas business focus, particularly in the Middle East and Latin America. In February, it signed an exclusive supply agreement for its product, Rejuran, with Brazilian aesthetics company Dermadream and launched its botulinum toxin product, Lientox, in Thailand. The company plans to expand its overseas sales, currently at about 40%, based on a product portfolio that includes medical devices and cosmetics.
Industry experts believe that the growing demand for non-surgical cosmetic procedures will drive growth in the global aesthetics market. The rise in new cosmetic demands, such as skin tightening and volume restoration following the spread of obesity treatments, also supports market expansion. However, regulatory differences, exchange rates, and tax changes in various countries remain variables.
An industry insider noted, "In overseas markets, it is crucial to consider the regulatory systems and market structures of each country. To expect long-term success, companies must possess not only quality and price competitiveness but also local distribution and regulatory capabilities."
* This article has been translated by AI.
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