LG Chem targets the aesthetic market in Thailand with its skin booster product.
LG Chem noted on the 10th that it has begun full-scale sales of the skin booster 'VITARAN i HP Cell' with the component PN (polynucleotide) in Thailand. This expansion of aesthetic products follows the introduction of the beauty filler 'YVOIRE' in Thailand in 2021 through its direct sales network. LG Chem plans to target the high-growth Thai market in the medical aesthetic field by leveraging synergy between the two products.
Unlike skin booster products approved as cosmetics, medical devices for skin boosters can be injected into the skin, allowing for direct skin improvement effects.
VITARAN is a skin booster medical device introduced last year by the regenerative medicine research and manufacturing corporation Biopharm, characterized by its injectable form and high-quality raw materials.
The Biopharm trout farm, a production base for raw materials, has secured reliability in raw material quality management by obtaining certification as a suitable facility (no radiation or heavy metal components detected) based on safety investigation results from the Jeollanam-do Institute of Marine and Fisheries Science.
Thailand is considered the largest aesthetic market in Southeast Asia. According to data from the Thai Society of Cosmetic Dermatology and Aesthetics, the market size of non-invasive procedures in Thailand is expected to grow more than twice, from 700 billion won in 2023 to 1.5 trillion won in 2030.
As simple injection procedures like fillers and skin boosters are gaining strength in the aesthetic market, LG Chem's strategy is to enhance competitiveness by launching multiple product lines. Currently, in addition to YVOIRE and VITARAN, it is preparing to release a premium line filler called 'Y-Solution'.
Noh Ji-hye, executive director of LG Chem's aesthetic business division, said, 'Since the launch of the hyaluronic acid filler 'YVOIRE', developed by a domestic corporation in 2011, we have been striving to provide reliable solutions to global medical aesthetic customers, focusing on expanding overseas markets and product lines.' She added, 'We will continue to develop safe and effective products and procedures tailored to the diverse medical aesthetic needs worldwide, including skin improvement and facial contouring.'