Osstem Pharma’s Enterprising Move in the Skin Aesthetic Market

Osstem Pharma is venturing into the growing skin aesthetic market. This move may shift market dynamics, leveraging its parent company, Osstem Implant. This transformation suggests a promising entry using existing sales channels.

New Developments in Osstem Pharma’s Strategy

Osstem Pharma: Industry sources reveal that Osstem Pharma plans to develop and sell products like breast implants, fillers, and lifting threads. These efforts involve:

• Establishing a ‘Plastic Material Business Unit’
• Raising 29.2 billion KRW via third-party allotment for capital increase
• Building a new plant within Osong Factory

Timeline and Investments

• New Plant Construction: 24 billion KRW of the raised capital will fund a new factory spanning 2,250 pyeong.
• Expected Operations: By late 2026, meeting GMP standards to commence production.

Growth Projections and Market Insights

The persistent growth in the skin aesthetics market is driving this initiative. According to NOVA ADVISOR, the global breast implant market is projected to rise from $2.33 billion in 2022 to $4.89 billion by 2033 with an annual growth rate of 7.7%.

Other markets depicted by data sources show:

• Filler Market: Expected growth from $6 billion in 2022 to $13.38 billion by 2032, at 8.4% annually.
• Lifting Thread Market: Estimated growth from $13.02 billion in 2023 to $23.13 billion by 2031 at 7.45% yearly.

Osstem Pharma aims to surpass 1 billion KRW in sales by 2027, with the new division contributing 150 billion KRW. By 2030, sales could reach 600 billion KRW, accounting for over 30% of total sales.

Leveraging Osstem Implant’s Network

Osstem Pharma’s positive outlook hinges on using Osstem Implant’s vast sales network. This parent company holds the top domestic implant market position and ranks third globally.

• Strategic Use of Sales Networks: Osstem Pharma markets prescription drugs through dental offices and wholesalers associated with Osstem Implant.

A market observer noted that Osstem Pharma relies heavily on Osstem Implant not just for pharmaceuticals but for various sectors. Future plans are expected to follow a correlating pattern for sustained growth.

Ongoing Clinical Developments

Osstem Pharma has been actively recruiting clinical participants for breast implant products, having completed surgeries by May. The company signed contracts with CROs and institutions, committing to eight years of clinical follow-up.

• Breast Implants: Long-term trials are underway, with the possibility of market launch in 2026 after tracking and assessment of surgical patients over two years.

For fillers, existing production facilities will undergo remodeling to expedite clinical trial approvals, aiming to reduce market entry time.

• Future Product Sync: Following the plant’s completion, simultaneous releases across all products with GMP certification and main trials are expected.

Lifting Threads: The company is engaged in technical documentation and regulatory processes. The initial product, HanDaM (mono type), was launched in June, with a secondary launch planned in September 2024 for the HanDam (COG type).

Osstem Pharma is on a mission to transform the skin aesthetics market by aligning strategic use of resources from its parent company and robust growth-focused financial investments.

Table of Contents

1. Introduction
   • Overview of Osstem Pharma’s Expansion
   • Importance of the Skin Aesthetic Market
2. New Developments in Strategy
   • Formation of Plastic Material Business Unit
   • Capital Investment Plans and Financial Strategy
3. Timeline and Investments
   • New Plant Construction Plans
   • Operational Goals and GMP Standards
4. Growth Projections and Market Insights
   • Breast Implant Market Trends
   • Filler Market Growth Projections
   • Lifting Thread Market Analysis
5. Leveraging Osstem Implant’s Network
   • Strategic Benefits of the Parent Company
   • Sales Network Utilization
6. Ongoing Clinical Developments
   • Breast Implant Trials and Timelines
   • Filler Production and Market Entrance Strategy
   • Lifting Threads: Product Launch Plans
7. Conclusion
   • The Future of Osstem Pharma in Skin Aesthetics
   • Summary of Strategic Goals and Market Impact