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[Alpha Biz= Reporter Kim Jisun] Medytox is aiming to target the Middle East and European aesthetic medical market, estimated to be worth KRW 2 trillion, by establishing a botulinum toxin factory in the United Arab Emirates (UAE). The company plans to finalize the contract by the end of this year and proceed with the construction of the factory in earnest. With the establishment of the production facility in Dubai, Medytox will become the first Korean company to own overseas toxin production facilities.

According to industry sources on the 29th, Medytox signed a Letter of Intent (LoI) with the UAE state-owned company TECOM Group at the 'Korea-UAE Business Forum' to establish a biopharmaceutical production facility.

According to data from the global market research firm NextMSC, as of 2024, the aesthetic medical market in the Middle East is estimated to be worth $1.21 billion (approximately KRW 1.65 trillion). The European aesthetic medical market, which is considered one of the world's top three markets alongside the United States and China, is estimated to be worth $1.3 billion (approximately KRW 1.77 trillion).

 

 

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