SEOUL -- CHA Meditech, an aesthetics wing of South Korea's biopharmaceutical company CHA Biotech, has made a foray into Thailand's filler market estimated to be worth at least 90 billion won ($67.4 million). After receiving state approval from the Thai government in October 2023, the South Korean filler producer cooperated with a local distribution company to launch the filler brand "HyaFilia SMV."
According to CHA Meditech's communications manager Kim Woo-gyun, Thailand's filler market is estimated to be between 90 billion won and 110 billion won. HyaFilia SMV consists of three filler products designed to reduce wrinkles and improve skin elasticity. It is known for the minimized presence of a harmful compound with cytotoxic features.
"We are currently selling HyaFilia SMV across Thailand," Kim told Aju Korea Daily on January 26. After partnering with Vitapharm Asia, a Bangkok-based distributor for healthcare and aesthetics devices, CHA Meditech commercialized the brand earlier this month. The South Korean company also held a product launch event on January 22, attended by around 150 Thai medical experts.
"We will expand our presence in the global market by continuously discovering local partners. With our excellent products and technology, we will quickly expand the market share of HyaFilia, CHA Meditech's filler brand, globally," said CHA Meditech CEO Kim Seok-jin. The company aims to obtain product approval for HyaFilia SMV in other countries including Indonesia, China, and Brazil.
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