CGBio, a Korean bio-regenerative medical company(CEO Hyun Seung Yu), is making a push into the Chinese filler market. The company recently signed an export deal with the Shanghai Feiting Trading Co., Ltd., a Chinese medical device distributor, for two types of hyaluronic acid (HA) fillers, including GISELLELIGNE Universal and GISELLELIGNE Signature 2, for a total of 470 billion won ($359 million) over three years.
Shanghai Feiting Trading has been the general agent for GISELLELIGNE since 2019 and is a well-known medical device company in China with a large number of sellers of aesthetic goods under its nationwide network. CGBio received product approval for GISELLELIGNE Universal from China’s National Medical Products Administration (NMPA) in 2019 and secured product approval for GISELLELIGNE Signature 2 in October 2022. The company plans to expand its market share in the rapidly growing Chinese medical beauty market by supplying its second premium filler.
GISELLELIGNE is CGBio’s premium hyaluronic acid filler, which combines the advantages of elastic particle type (Biphasic) fillers and highly viscous gel type (Monophasic) fillers that are already out in the market. It is a multi-layered phasic filler with the world’s first two-in-one structure that applies the R2 method of uniformly mixing two high-viscosity types through rotation and centrifugation. GISELLELIGNE has a noticeable differentiating factor compared to competing items as it forms natural-looking boundaries while effectively shaping volume.
GISELLELIGNE consists of three lineups: GISELLELIGNE Signature 1 for wrinkles under the eyes, lips, neck wrinkles and other fine lines in the mid-dermis; GISELLELIGNE Universal for nasolabial folds, forehead and other areas of the face and deep dermis; and GISELLELIGNE Signature 2 for the chin, bridge of the nose and supra periosteum. By offering a product lineup that can be used in different areas of the face, it is possible to achieve natural volume without unnatural boundaries in thin areas and high volume in deeper areas.
GISELLELIGNE Signature 2 is particularly useful for restoring wrinkles in deeper skin layers. It contains a local anesthetic ingredient, Lidocaine, which can reduce the pain felt during filler procedures. This is expected to meet the unmet demand that existing products have not been able to do so.
Based on its competitive advantages, GISELLELIGNE has actively carried out marketing activities both at home and abroad. Since receiving domestic approval in 2014, it has become a representative aesthetic product of CGBio and an export item. GISELLELIGNE’s sales growth rate in 2021 reached 130% compared to that of the previous year.
In addition, CGBio has since last year been holding various high-quality online webinars and CADAVER workshops for overseas medical professionals twice a month or more to promote the excellence of its filler products to the world and to provide ongoing education to ensure proper use of the products for patients. To achieve this, CGBio is making multi-faceted efforts to improve the quality of the program, such as expanding the scope of education and developing a continuous education curriculum.
Hyun Seung Yu, CEO of CGBio, said, “GISELLELIGNE is a high-quality HA filler line produced by CGBio, a specialized bio-regenerative medicine company, using our own technology. It has a multi-layered structure based on the principles of centrifugation and rotation and has garnered significant interest in various overseas markets, including China. With the export contract for GISELLELIGNE Universal and Signature 2, we aim to expand our market share in the Chinese HA filler market actively. We are committed to providing high-quality medical education to ensure the safe and appropriate use of our products for patients.”
According to a report released by the Korea International Trade Association (KITA) this year, the size of China’s medical beauty market is expected to reach 264.3 billion yuan in 2022, nearly three times its size in 2016 (84.1 billion yuan). The market is projected to grow to 311.5 billion yuan in 2023.
