ACRO Biomedical recently received notice from its patent agency, stating that the India patent "Preparation of High Purity Collagen Particles and Uses Thereof" was already granted on August 5th, 2020. ACRO's CEO, Dr. Dar-Jen Hsieh pointed out that the market for medical aesthetics in India should not be underestimated, a population of 1.4 billion could be full of potential.
According to the data released by ISAPS, International Society of Aesthetic Plastic Surgery, the United States has a market share of 19% in the global medical aesthetics market, ranking first. Brazil is the second largest country in the medical aesthetics market, with a market share of 11%. China is the third largest country in medical aesthetics market, with a share of 10%. South Korea ranks fourth with 5%, and India is the fifth largest country for medical aesthetics, with a global market share of 4%.
India has become one of the major countries in medical aesthetics market due to several factors:
Number of qualified surgeons: India has about 2,500 qualified plastic surgeons and the number continues to increase. Most of them are professionally trained in the US, UK and Germany, and are licensed by the American Society of Plastic Surgeons. In addition, they have experiences practicing in other countries before returning to India.
High market demand: According to the International Society of Plastic and Aesthetics (ISAPS), the number of cosmetic surgery operations in India ranks fourth in the world, accounting for 5.2% of the global total. According to a survey done by IBI Partners, an Asia market research firm, the cosmetic surgery market in India is 14 times larger than that of Thailand.
Cost advantage: The report released by the Indian Planning Commission shows that India has a cost advantage in cosmetic surgery. Cosmetic surgery costs around $20,000 USD in the US, $10,000 in the UK, $3,500 in Thailand, and $2,000 in India. A Botox injection costs $500 to $800 USD in the U.S. and $150 to $250 USD in India. A facelift costs $6,500 USD in the US and just $2,800 in India. Liposuction costs $8,000 in the US and just $2,500 in India.
According to Deloitte's data in 2012, around 10 million Americans will go overseas for cosmetic surgery. Hospital chains in India have set their sights on them, setting up cosmetic surgery clinics one after another.
The trend of micro-plastic surgery in medical cosmetics has driven the demand for collagen and hyaluronic acid implants in recent years and has accelerated the growth of the medical cosmetics market. ACRO Biomedical utilizes the patented technology of natural collagen scaffold particles on medical cosmetics, aiming at the field of anti-aging and skin regeneration medical field. The company said that although there are many competitors in the market for collagen-based products, there are more benefits in using "supercritical carbon dioxide (ScCO2)" during the production process. The process is simple, and the cost is low. It is also environmental friendly since there is no need to add chemical cross-linking agents, which can carcinogens, during the process.
Founded in 2014, ACRO Biomedical focuses on the research, development and production of high-end medical materials related to human tissue engineering and repairing. The company uses supercritical carbon dioxide (ScCO2) extraction technology to to remove cells, fat, and non-collagenous proteins from animal tissues and organs, while leaving the intact collagen scaffolds as the biomaterial for high-end medical devices in the field of wound care, orthopedics, dentistry, ophthalmology, aesthetic microsurgery, cardiovascular, and neural surgery, etc.
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