Hugel HA Filler Targets European Market... New Entries and Supply Expansion Follow

"Average Annual Growth Rate Over 50% in the Past 3 Years"

Hugel is accelerating its entry into the European market for hyaluronic acid (HA) fillers and expanding its market share.

Hugel Gadu Factory exterior.
[Photo by Hugel]

On the 16th, Hugel announced that its HA fillers have recently expanded supply in Germany, the United Kingdom, and Spain, while newly entering Denmark and Hungary, thereby accelerating its expansion in the European market.

Hugel's HA filler for European export, 'Revolax,' currently holds a market share in the 10% range based on sales volume in Europe. It has entered a total of 21 countries, including the Big 5 European countries: Germany, the United Kingdom, France, Italy, and Spain, and has shown an average annual growth rate of over 50% in the past three years.

In particular, sales in Germany, the United Kingdom, and Spain increased by 176%, 23%, and 39%, respectively, compared to the previous year. Germany recently signed a new contract with the local distributor Moriskin to continue its steady growth. The European filler market is expected to grow by 10% annually from 2023 to 2029, reaching a size of $2.1195 billion (approximately 2.7 trillion KRW).

Hugel plans to expand its entry countries to the Netherlands, Belgium, and others, collaborating on sales and marketing with its HA filler affiliate, Across, to enhance corporate and product competitiveness. Additionally, it aims to increase customer satisfaction by strengthening networking through educational programs for local medical professionals, forums, seminars, and conferences, as well as conducting on-site procedure sessions utilizing exclusive distributors in each country.

A Hugel representative said, "Hugel's HA filler is accelerating its European market strategy as a leading K-filler by signing new supply contracts and expanding entry countries. We plan to secure a sales network throughout Europe and expand our market share to 20% within the next three years."

Meanwhile, Hugel's HA filler has been sold in 38 countries worldwide since its launch in 2014.

This content was produced with the assistance of AI translation services.