Pharmaceutical company Derma Cosmetics has entered the market one after another. Performance and growth related to companies that dominate the market with an average annual growth of more than 15%.
It has emerged as an attractive market for pharmaceutical companies because it can lower entry barriers and increase growth potential by using existing source technology in the face of limitations in the general drug market.
Yuhan Corporation signed a business agreement with GNT Pharma, a new drug development venture company, in March to develop a highly functional Derma Cosmetics utilizing patented material FM04 (skin protection and regeneration formula).
Green Cross Well-Being, a brand that utilizes natural killing (NK) cell culture, and a cosmetics brand based on Hanmi Pharmaceutical's lactic acid bacteria, ProCam, are targeting the Derma Cosmetics market.
The reason why pharmaceutical companies are jumping into Derma Cosmetics business one after another is that they can apply the original technology used to produce existing drugs
Korea's Derma Cosmetics market, Blue Ocean, which has grown more than 15% every year since a start of about 500 billion won in 2017. The need to take care of skin problems, such as the acne appearing due to wearing masks for a long time, is increasing, and the market is expected to grow continuously.