Hugel said it obtained a product license for Persnica, a hyaluronic acid (HA) filler, from China’s National Medical Products Administration (NMPA) last Friday.

According to the company, the global non-surgical-centered medical aesthetics industry continues to grow rapidly. China is showing particularly strong market growth for these products, such as botulinum toxin (BTX) and HA fillers. For example, the HA filler market, worth 950 billion won in 2020, is expected to increase to about 1.93 trillion won in 2023.

Hugel became the first Korean company to obtain approval in the Chinese toxin market in October 2020 to get a foothold in the country’s aesthetics market with high growth potential. Hugel has started the final preparations for aggressive marketing activities ahead of the local launch of HA filler in the third quarter.

Unlike the Chinese botulinum toxin market, where only four companies operate, there is fierce competition in the filler market, where about 30 products of 20 companies are vying to carve out a larger market share, Hugel said.

Accordingly, the company plans to rapidly expand its position as a latecomer through marketing activities optimized for the local market.

Sihuan Pharmaceutical, Hugel’s Chinese partner for its BTX, will handle the local distribution and marketing activities of Persnica.

Hugel explained that Sihuan Pharm is a large pharmaceutical company with locally optimized marketing know-how and has built a tight distribution network through marketing Hugel’s BTX.

Notably, the two companies actively plan to utilize the synergy with its previously approved BTX product.

“Following the entry into the Chinese BTX market last year, the product approval for the company’s HA filler brings us one step closer to our corporate goal of conquering the Chinese medical aesthetics market,” a company official said. “As Hugel’s Persnica has received recognition for its excellent product quality, it can emerge as the best filler product in the Chinese market.”