Daewoong Pharmaceutical said on the 29th that it recently signed back-to-back export contracts for its botulinum toxin Nabota with Iraq and Bahrain, completing its entry into 10 of 20 countries in the Middle East and North Africa (MENA). Botulinum toxin is a toxic protein extracted from the botulinum bacterium that temporarily paralyzes and relaxes muscles, smoothing wrinkles and reducing muscle size.
Starting with the United Arab Emirates (UAE) in 2020, Daewoong Pharmaceutical launched Nabota in five countries, including Saudi Arabia, Qatar, Türkiye, and Egypt, and completed export contracts and item approvals in five other Middle Eastern countries.
The company plans to enhance the capabilities of medical staff in the Middle East through systematic training programs and academic support, improving the quality of aesthetic and plastic surgery services that patients experience.
Yoon Jun-su, head of the Nabota Business Division at Daewoong Pharmaceutical, said, "Based on quality competitiveness proven in major global markets, Nabota is successfully expanding its footprint in the Middle East and North Africa," and added, "We will strengthen our market push so that Nabota can be reborn as the Middle East's representative premium toxin."
According to market research firm Grand View Research, the Middle East and North Africa aesthetic and plastic surgery market is expected to grow at a compound annual rate of 10.7% from $2,589.3 million (about 3.6286 trillion won) in 2024 to $4,762.6 million (about 6.6743 trillion won) in 2030.