[Edaily Reporter Lee Hye-ra] Analysts suggest that #BioViju has secured a growth engine by fully entering the extracellular matrix (ECM)-based skin booster market. Attention is focused on whether the company can expand its earnings as sales of new products are added to its existing China-focused export business.

Lee Gyo-seok, an analyst at Shin Young Securities, stated in a report on the 16th, "Amid the rapid growth of the ECM skin booster market, BioViju has secured new growth opportunities through its exclusive distribution business."
BioViju is a beauty company specializing in cosmetics, fillers, and skin boosters. Its annual production capacity stands at approximately 2.64 million units, and the company plans to expand this to 8.64 million units through the construction of a second factory.
Currently, the majority of its revenue comes from overseas markets. In the first quarter of this year, overseas sales accounted for 85% of total revenue, while domestic sales made up 15%. The analyst noted, “China is a key market, accounting for 70% of total sales last year,” adding, “The local distribution network of its parent company, Cheongdam Global, is a key competitive advantage.”
The company has also recently begun targeting the U.S. market. The analyst said, “Although first-quarter sales in the U.S. amounted to only 600 million won, we plan to expand our marketing efforts in Western markets starting in the second half of the year through pop-up events and other initiatives.”
The analyst particularly highlighted BioViju’s ECM skin booster “Cellivion Lindsay,” launched late last year. BioViju secured the global exclusive distribution rights for Cellivion Lindsay through a collaboration with medical tech firm AllsoTech. In the ECM skin booster market, L&C Bio’s “Rituo” and Hans Biomed’s “Celld’M” are currently established as leading products.
The analyst stated, “Although BioViju is a latecomer, it will seek to expand its market share by leveraging aggressive marketing and its existing dermatology network.”
In fact, BioViju began sales to domestic hospitals in March of this year. The selling price has also been set approximately 10% lower than that of competing products.

Shin Young Securities estimates BioViju’s revenue for this year at 38 billion won, with an operating profit margin of 30%. These figures are based on the assumption that the company will achieve 5 billion won in sales of ECM products, in addition to growth in its existing cosmetics, fillers, and skin booster businesses.
The analyst explained, “Whether the ECM business takes root is crucial,” adding, “The domestic ECM skin booster market is currently experiencing a situation where demand exceeds supply, creating a favorable environment for new entrants.” He further noted, “The speed of expansion into hospitals and actual post-treatment reviews will be key indicators of whether the business successfully establishes itself in the market.”