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[Alpha Biz=(Chicago) Reporter Kim Jisun] Hugel, a medical aesthetic company, announced on the 16th that HA filler is accelerating the expansion of the European market with the recent expansion of supply in Germany, the United Kingdom, and Spain, and new expansion into Denmark and Hungary.
Hugel's HA filler (European export name Revolax) currently has a market share of 10% in Europe in terms of sales volume. It has advanced to a total of 21 countries, including the Big Five (Germany, Britain, France, Italy and Spain), and has achieved high annual growth of more than 50% over the past three years, according to the company.
In particular, sales in Germany, the United Kingdom and Spain increased by 176%, 23% and 39%, respectively, compared to last year. In Germany, the company plans to continue its growth by signing a new contract with MORYSKIN GMBH, a leading local distributor.
The European filler market is expected to grow 10% annually from 2023 to 2029, reaching $ 2.1195 billion (about 2.7 trillion won). Hugel will expand its countries to the Netherlands and Belgium in the future, and collaborate in sales and marketing with Across, an HA filler company, to enhance the competitiveness of companies and products.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
