15 December 2023
Ministry of Trade, Industry and Energy and Korea International Trade Association honor Hugel for reaching $70 million export milestone
Hugel, a leading botulinum toxin products maker in South Korea, has been commended by the government for its remarkable achievements in exports. The Ministry of Trade, Industry and Energy and the Korea International Trade Association have recognized Hugel for surpassing the $70 million export milestone between July 2022 and June this year. As the highest exporter among companies based in Gangwon Province, Hugel has solidified its position as a major player in the non-invasive injectable treatments market, with its flagship products, Botulax and The Chaeum.
Hugel’s Rise as a Major Exporter in the Botulinum Toxin Industry
Hugel has emerged as a key player in South Korea’s botulinum toxin industry, with its products gaining significant recognition both domestically and internationally. The company’s flagship product, Botulax, has received regulatory approvals in approximately 60 countries, making Hugel a global leader in the field. Notably, Hugel became the first Korean company to export botulinum toxin products to China, Australia, and Europe, further solidifying its international presence.
Expanding Market Reach and Future Plans
With its sights set on expanding its market reach, Hugel has successfully launched Botulax in major European countries, including Germany, the UK, France, Italy, and Switzerland. The company now aims to introduce Botulax to an additional 30 countries in Europe, capitalizing on the product’s growing popularity and demand. Hugel is also actively seeking opportunities to expand its presence in North and South America, with plans to launch Botulax in these regions.
Furthermore, Hugel anticipates a surge in Botulax sales in Canada, following the regulatory approval it received last year. The company is optimistic about the growth potential in the Canadian market and expects to witness a significant increase in sales in the near future.
The Chaeum’s Global Success and Increasing Demand
In addition to Botulax, Hugel’s hyaluronic acid filler, The Chaeum, has also gained traction in the global market. Currently sold in approximately 40 countries worldwide, The Chaeum has experienced a 20 percent year-on-year increase in sales during the third quarter. This growth can be attributed to rising demand in Europe and the Asia-Pacific region, indicating the product’s broad appeal and effectiveness.
Conclusion:
Hugel’s recent recognition by the Ministry of Trade, Industry and Energy and the Korea International Trade Association highlights the company’s outstanding achievements in the botulinum toxin industry. With its flagship products, Botulax and The Chaeum, Hugel has cemented its position as a major exporter in South Korea. As the company continues to expand its market reach, particularly in Europe and the Americas, Hugel is poised for further success in the global non-invasive injectable treatments market. With its commitment to innovation and quality, Hugel is set to make significant contributions to the field of botulinum toxin products and enhance its reputation as an industry leader.
