[K-Beauty on the Rise]②Beyond Cosmetics: 'Beauty-Tech' Battle... Amorepacific vs. APR, What's Their Winning Move?

Expanding Beyond Cosmetics into Medical Devices
High Value-Added Business Model of 'Devices + Consumables + Cosmetics' in the Spotlight

Amorepacific and APR are stepping up their efforts to enter the energy-based device (EBD) market for hospitals and clinics, moving beyond the home-use beauty device sector. Their strategy is to evolve from a business structure centered on single cosmetic products into high-value-added beauty tech companies that combine medical devices with specialized skincare.

According to industry sources on July 29, both companies have recently positioned the EBD business as a core pillar of future growth, pursuing different approaches to the market. EBD refers to medical devices utilizing technologies such as lasers, radiofrequency (RF), high-intensity focused ultrasound (HIFU), and microneedle RF, which are used for skin elasticity enhancement, lifting, pigmentation treatment, and more. Recently, demand for equipment that promotes skin regeneration and collagen production has surged, spreading rapidly, particularly among premium dermatology clinics.

Amorepacific opts for strategic investments in medical device firms, while APR fully internalizes operations

Amorepacific Group has chosen to expand its medical device ecosystem through strategic investment and collaboration. After investing in ViOL Medical, a global specialist in microneedle RF devices, the group also signed an investment agreement on July 27 through its holding company, Amorepacific Holdings, with Higher Corporation, a medical aesthetic device company.

Higher Corporation developed the Dual-HA–based collagen booster “HiloWave.” Amorepacific intends to leverage its accumulated dermatological research capabilities and brand competitiveness with Higher Corporation’s key opinion leader (KOL) medical network and medical device technology, aiming to build an integrated solution that connects professional procedures with daily skincare.

In contrast, APR has opted for a full internalization strategy, directly handling everything from research and development to production. Targeting the second half of this year and the first half of next year, APR will enter the professional medical device market based on the R&D and manufacturing capabilities it has established through the home beauty device brand Medicube AGE-R. The company has recently accelerated its independent EBD equipment development and mass production system by continually recruiting related research personnel.

Higher Corporation CI Wordmark. Higher Corporation

Equipment can cost up to hundreds of millions of won ... EBD market’s annual growth rate at 18%

The reason beauty companies are focusing on the EBD market lies in its high profitability and growth potential.

While the cosmetics industry is highly competitive due to its low barriers to entry, the EBD sector is a high-value-added industry that requires regulatory approvals and clinical validation in each country. The devices are priced from tens of millions to hundreds of millions of won, and sales are conducted on a B2B basis targeting hospitals and clinics.

One major advantage is that, beyond the initial sale of equipment, the ongoing replacement of consumables such as dedicated tips and cartridges—as well as cosmetics used before and after procedures—creates a recurring revenue model. Beauty companies can also expect a “lock-in” effect by selling both medical devices and cosmetics together.

Market growth is also accelerating. Samil PwC Research Institute forecasted that the global EBD market will achieve an average annual growth rate of 17.9% from 2025 to 2034.

The expansion of foreign medical tourism is also a favorable factor. As overseas demand for dermatological procedures in Korea increases, international recognition of Korean aesthetic medical devices is rising as well. The value added to domestic production by foreign medical tourists reached approximately 22.8 trillion won, and the verified expansion of Korean devices into premium aesthetic markets in the United States, the Middle East, and Southeast Asia demonstrates their global growth potential.

Kim Byunghoon, CEO of APR, is speaking at the Business of Beauty Global Forum 2026 held in Napa Valley, California, USA. APR

Global beauty giants are entering the market ... Potential for corporate revaluation

Global cosmetics companies are also fostering medical aesthetics as a future growth business.

L'Oréal, the world’s leading beauty giant, has ramped up its entry into medical aesthetics by steadily acquiring stakes in Galderma, a Swiss dermatology specialist. Galderma is a leading medical aesthetic company with a lineup of injectable fillers such as Restylane and Sculptra, as well as dermocosmetics.

In the securities industry, there are suggestions that should cosmetics companies succeed in the EBD sector, the very method of corporate valuation may change. Cosmetics firms are typically assessed based on brand competitiveness and consumer market conditions, whereas medical device companies are often valued higher for their technology, patents, regulatory approvals, and repeat revenue models. In fact, Korean medical aesthetic device manufacturers generally maintain higher profitability and operating margins than cosmetic companies.

However, because of the nature of medical devices, companies must navigate stringent regulatory procedures in each country and compete with established players that already have hospital and clinic sales networks, such as Pharmaresearch, Classys, and Hugel. Securing trust from medical professionals and accumulating clinical data are also critical variables for establishing a firm foothold in the market.

An investment industry official explained, “The move by K-beauty companies into the EBD sector goes beyond simply expanding product lines; it is a strategy to transform cosmetics companies into high-value-added beauty tech platform players. The key inflection point for corporate revaluation will be whether, in the second half and beyond, they can successfully gain market traction for their procedures-linked solutions via strategic investments, as well as realize independent equipment regulatory approvals.”

This content was produced with the assistance of AI translation services.