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Medytox tightens its hold on the Middle East’s beauty boom

Published: 17 Feb. 2025, 10:00 Updated: 17 Feb. 2025, 10:57

The representative toxin products of Medytox, from left, Meditoxin, Coretox, and Innotox. [MEDYTOX]

Korean biopharmaceutical company Medytox is expanding into the Middle East, a fast-growing pharmaceutical market often referred to as a "Pharmerging" — a blend of "pharmacy" and "emerging."

With a young population and strong purchasing power in cosmetic medicine, the Middle East presents an attractive opportunity for biopharmaceutical companies. According to global market research firm Grand View Research, the non-invasive cosmetic procedures market in the Middle East and Africa (MEA) grew by 12.1 percent and is projected to reach $6.4 billion by 2030.

Medytox has already made inroads in Saudi Arabia, one of the world’s largest Botox markets. Its Botox formulation, Meditoxin — sold internationally under the name Siax — has achieved a 30 percent market share. Demand for cosmetic treatments in Saudi Arabia has surged due to cultural shifts and increased freedom in women’s fashion.

The company is also expanding into the United Arab Emirates. In May 2024, Medytox signed a letter of intent with Dubai Science Park (DSP), a subsidiary of UAE state-owned Tecom Group and led by CEO Marwan Abdulaziz Janahi, to establish a Botox manufacturing facility.
The company aims to be the first Korean firm to build a halal-certified toxin production site overseas, targeting both the Middle Eastern and European markets with its non-animal-derived liquid toxin, MT10109L. The product’s manufacturing process eliminates animal-based components, reducing the risk of animal-borne virus transmission.

Medytox is planning to expand its market share in the Middle East through a self-developed hyaluronic acid filler, Neuramis. [MEDYTOX]

Beyond Botox, Medytox is strengthening its foothold in the Middle East with its hyaluronic acid filler, Neuramis. Recognized for its high quality, Neuramis received regulatory approval in Saudi Arabia in 2023 and in the UAE in 2024, quickly becoming a popular filler in the region.

Medytox is the only company worldwide with a portfolio of four different botulinum toxin products: Meditoxin, Innotox, Coretox and Newlux. To drive sustainable growth, the company continues to develop new toxin pipelines.

Medytox presented a new toxin pipeline named PF30 and MT951 at IMCAS World Congress 2025. [MEDYTOX]

At the IMCAS World Congress 2025, a premier aesthetic medicine conference, Medytox introduced PF30 — a prefilled syringe version of MT10109L designed for improved safety and efficiency — as well as MT951, a DNA-recombinant toxin with 30 percent longer durability than competitors.

“We are focused on expanding into international markets and differentiating our products,” a Medytox representative said. “Our goal is to become a global leader in the botulinum toxin industry.”

BY LEE YEBIN [[email protected]]

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