Biopharmaceutical, biotechnology giants team up to conquer Asia’s skincare market
CALECIM Cosmeceuticals, a wholly owned subsidiary of biotechnology company CellResearch Corporation (CRC), has entered into partnership with Italian biopharmaceutical concern A Menarini Asia-Pacific Holdings Pte Lttd.
The multi-year partnership covers sales and marketing of CALECIM products to six of the largest skincare markets in the region, namely mainland China, Hong Kong, Thailand, Malaysia, Philippines and Indonesia, thus expanding CALECIM’s global reach to a market of more than 1.7 billion people.
According to GBI Research, global revenues for the dermatology market are forecast to grow to $36.6 billion by 2023. Driven by technological innovation and rising disposable income in emerging markets, the Asia-Pacific region has surpassed North American and Europe to become the fastest growing market in the world for dermatology devices and solutions. The region's consumer base now has greater awareness of dermatology, resulting in demand for the newest solutions that meet their skincare needs.
The new partnership aims to bring the brand’s full range of products, including solutions developed from start to end in Singapore, into the hands of consumers across the region. Leveraging Menarini Asia-Pacific’s network across the region, the partnership will extend CALECIM footprint to cover China and the Philippines, made possible by Menarini’s end-to-end commercialisation capabilities, Gavin Tan, Group CEO of CRC said on Monday.