Dongkoo Bio & Pharma announced on the 14th that it is actively pursuing the acquisition of related companies to make a full-scale entry into the beauty and plastic surgery market.
As the leading specialized pharmaceutical company in dermatology prescriptions in Korea, it plans to leverage its existing dermatology and plastic surgery networks and secure differentiated competitiveness through the convergence of regenerative medicine and beauty/plastic surgery linked to the recently revised Advanced Regenerative Medicine Act.
Dongkoo Bio & Pharma has established a dominant position in dermatological treatment drugs and beauty-related prescription medicines. Based on a strong network with dermatology medical professionals, it is expected to quickly establish itself in the beauty and plastic surgery market.
With the expansion of the beauty and plastic surgery market following the recent revision of the Advanced Regenerative Medicine Act, Dongkoo Bio & Pharma is accelerating the development of innovative treatment solutions that combine regenerative medicine with beauty and plastic surgery.
The Advanced Regenerative Medicine Act legally permits regenerative treatments using stem cell and tissue engineering technologies, and its scope of treatment application was expanded through this year's revision. Treatments and procedures applying stem cell and tissue regeneration technologies in the beauty and plastic surgery fields are being expanded. In response to these changes, Dongkoo Bio & Pharma plans to launch a next-generation product line combining advanced regenerative medicine with fillers and skin regeneration treatments.
Recently, the company signed a strategic MOU with Immunis Bio in the advanced regenerative medicine and beauty business sectors, focusing on joint research and development of cell therapies integrating immune cell technology and the development of high-functional cosmeceutical products applying related technologies. They have launched a co-branded ampoule including a hair growth-specific ampoule and are increasing domestic and international market share through medical device approvals and joint sales.
This move aims to strengthen its position as a global brand and meet consumer needs based on innovative technologies.
Dongkoo Bio & Pharma is actively considering the acquisition of domestic companies possessing filler and regenerative medicine technologies. The acquisition process of bio companies that can be linked with skin regeneration, fillers, and beauty treatments is in its final stages.
Dongkoo Bio & Pharma plans to strengthen its R&D capabilities and expand market share beyond the general filler market through premium fillers incorporating advanced regenerative medicine technologies. The beauty and plastic surgery market continues to show growth, with Korea establishing itself as a key hub for the Asian beauty and plastic surgery industry. As of 2023, the Korean beauty and plastic surgery market size is approximately $2.38 billion, and it is projected to grow at an average annual rate of 17.3% to reach $8.53 billion by 2031.
Treatment solutions combining fillers and advanced regenerative medicine technologies are emerging as key competitive factors in the future beauty and plastic surgery market. Dongkoo Bio & Pharma is expected to rapidly expand the market by utilizing its existing dermatology and plastic surgery networks.
Dongkoo Bio & Pharma CEO Cho Yong-jun stated, "The revision of the Advanced Regenerative Medicine Act is accelerating the convergence of regenerative medicine with beauty and plastic surgery," adding, "We plan to secure differentiated competitiveness in fillers and skin regeneration treatments." He further said, "Through acquisitions and new product development, we will strengthen our position not only in the domestic market but also in the global market."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
