[Click E-Stock] "Bio Visu, Surging U.S. Sales and New ECM Business... Poised for Global Aesthetic Expansion"

As Bio Visu, a medical aesthetics company, continues to expand its overseas business with a focus on the U.S. market, it is aiming to become a global aesthetics company by securing its new ECM skin booster business as its next growth engine. At the same time, the company’s reliance on revenues from China is decreasing while revenues from the U.S. are rising rapidly, leading to increased earnings stability, according to analysis.

Independent research firm ValueFinder evaluated on August 31 that the North American offline distribution network secured through advance advertising expenditures last year is now translating into sales this year for Bio Visu.

Bio Visu, founded in 2018 and listed on KOSDAQ last year, is a medical aesthetics company. Its largest shareholder is cosmetics distributor Cheongdam Global, which holds a 51.85% stake. The company independently develops and manufactures hyaluronic acid (HA)-based skin boosters and fillers while sourcing and distributing medical cosmetics and ECM products through a two-pronged manufacturing and distribution structure.

Its performance is also improving. Revenue in the first half of this year reached 17.9 billion won, up 0.4% year-on-year, while operating profit was 5.3 billion won, an increase of 17.2%. The operating margin stood at 29.6%. Notably, operating profit for the first half of the year already surpassed last year’s full-year operating profit of 4.2 billion won.

The growth of the U.S. market in overseas business is particularly notable. Revenue from the U.S. surged from 300 million won last year to approximately 7.1 billion won in the first half of this year. Its share of total revenue also expanded to 39.5%. In contrast, China’s share of revenue declined to 45% in the first half of this year. Compared to roughly 68% in both 2024 and 2025, dependence on a single country has greatly eased.

Last year’s proactive advertising investments played a significant role in expanding the U.S. market. Bio Visu spent about 3.8 billion won on advertising through Amazon, TikTok, and other channels last year, laying the groundwork for entry into local offline store shelves. This year, the company is reducing the proportion of online advertising to defend profitability.

Currently, Bio Visu’s products are available on Amazon, Walmart’s online mall, Ulta Beauty, and other online platforms in the U.S. Offline, it entered REALO DRUGS, a North Carolina-based pharmacy chain, in July. The company is also in talks to supply an additional 1,400 offline pharmacy chains nationwide. Together with its largest shareholder’s U.S. distribution affiliate, Creativ, Bio Visu is operating popup stores in major commercial areas.

The new ECM skin booster ‘Cellivion Lindsay’ is considered a new growth pillar. This product uses acellular human dermal allograft (hADM) as its raw material, is manufactured by Orthotech, and exclusively distributed by Bio Visu. Following a technology cooperation agreement in August of last year, the product was launched in April this year.

ValueFinder estimates that the domestic ECM skin booster market, worth about 9.9 billion won last year, will grow to 110 billion won this year and to around 200 billion won by 2027. In the first half of this year alone, the combined sales of competing products already reached 33.5 billion won, far exceeding last year’s full market size, according to the analysis.

Obtaining overseas regulatory approvals for the filler business has also been cited as a future stock price momentum driver. In March, Bio Visu secured product approval from the Ministry of Food and Drug Safety for the ‘Corena Premium Filler Soft Molecule’ in Korea and plans to fully launch the product in domestic hospitals and clinics in the second half of the year. The European CE (MDR) certification is currently in the submission and review stage, while the Chinese NMPA approval process is underway. The company plans to sequentially secure major overseas approvals, including Brazil, by 2027.

Researcher Jeon Woobin of ValueFinder stated, “The expansion of sales to the U.S. is being accomplished simultaneously through online and offline channels, contributing to greater earnings stability,” adding, “The increased penetration of ECM products in hospitals and clinics, along with the scheduled acquisition of CE, NMPA, and Brazilian approvals for fillers in 2027, will be key triggers for future re-rating.”

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