[Click eStock] "BioPlus Benefits from HA Filler Market Growth"

ResearchAlum predicted on the 2nd that the demand for hyaluronic acid (HA) fillers will increase as non-invasive procedures grow in the global cosmetic surgery market. They anticipated that BioPlus, which has secured core source technologies related to HA fillers, will benefit from this trend.

BioPlus is engaged in businesses including HA fillers utilizing its proprietary cross-linking technology, adhesion prevention agents, skin booster cosmetics, cosmetic ingredients, botulinum toxin, and obesity treatments. By applying its self-developed source patent MDM technology, the company has developed HA fillers with excellent viscoelasticity, molding ability, safety, and durability.

Researcher Lee Seung-hwan from ResearchAlum stated, "HA fillers, along with botulinum toxin (Botox), are among the representative non-invasive cosmetic procedures," and introduced, "They are injected subcutaneously to temporarily improve skin wrinkles and restore volume." He added, "They work by maintaining volume through physical restoration without pharmacological action," and explained, "According to the research institute Technavio, the global HA filler market size is expected to grow from $4.4 billion in 2023 to $6.0 billion in 2027, with an average annual growth rate of about 7.3%."

The researcher analyzed, "BioPlus has explosive expansion plans," and stated, "The expansion cost for the Eumseong factory is 150 billion KRW, and HA filler production capacity will increase from 3 million units to 40 million units, more than tenfold." He emphasized, "It will be possible to actively respond to the surge in HA filler demand by expanding overseas direct transaction channels and encouraging the enlargement of domestic clients."