The global cosmeceuticals (medi-cosmetic) market was valued at 42.24 billion dollars in 2016 and is expected to reach a value of 68.72 billion by 2022, witnessing a Compound Annual Growth Rate (CAGR) of 8.52% during the forecast period from 2017-2022. Cosmeceuticals are products with benefits similar to pharmaceuticals and are available as ‘over the counter’ (OTC) products. The highly developed markets of Western Europe, the United States and Japan dominate the global market, marked by the demand for the premium care product line as an alternative to costly surgeries. Additionally, research innovations with the help of advances in technologies like nanotechnology, plant stem cell technology, and the emergence of new active ingredients are significantly aiding in the growth of the global cosmeceuticals market. Nowadays, the pharmaceutical cosmetics are focused globally by several companies such as South Korean company YJ Lab, where they are coming up with cosmeceutical products. They are using new ingredients such as peptides and extracts from plant stems for the manufacture of topical skincare products. With the rising preference for physician-recommended products and organic cosmeceuticals, the market will witness massive growth in the coming years.
The researchers at YJ Lab in Korea have been researching skin diseases for about 10 years and have tried to develop new products by complementing medicines, which have several side effects, and ineffective cosmetics. In the past three years, they have studied a number of ingredients to maintain healthy and beautiful skin from external factors of skin troubles from air pollution and water environmental pollution and internal factors of skin aging. As a result of these efforts, they have developed and tested a new combination of human–derived culture fluid stem cell, 10 high purity growth factors, and the most suitable ingredients for skin PH for healthy and beautiful skin. ‘NEWSTEM’ is the brand that was created after a strict production process similar to pharmaceuticals with these main active-ingredients. The general cosmetic brands use the main active, but the actual usage is usually 0.1 to 1% but, ‘NEWSTEM’ uses between 8% and 9% and they indicated the total active-ingredient content in the product. YJ Lab has a philosophy of making products properly as indicated by concentration and purity, not by the percentage of the main active-ingredient. They are also working on OTC products, which is generally recognized as safe and generally recognized as effective (GRAS/GRAE), in the Food and Drug Administration (FDA). Additionally, they have already been certified by plastic surgeons and dermatologists, and have been supplying products to more than 2,000 clinics and hospitals in Korea.
▲ YJ Lab Co.,Ltd.
▲ Brand Name: NEWSTEM
▲ CEO : Young-jo Park
▲ T : +82-70-5102-0577
▲ E-mail : yjlab1@naver.com
Sunny Seon and Irene Kim
K-Herald Korea
(Los Angeles Times Advertising Supplement)
