Medical aesthetic products. LG H&H looks to North America for growth

THE WHAT? LG Household & Health Care is pinning its hopes for future growth on the North American market, according to a report published by Nikkei Asia. As the K-beauty behemoth’s new leadership team settles in, the manufacturer of O Hui is said to be pivoting away from China.

THE DETAILS New CEO Lee Jung-ae has identified the United States as the company’s next growth market. What’s more LG H&H has been building its presence in the region over the last three years with high profile acquisitions of New Avon, Boinca and The Crème Shop, Nikkei Asia reports.

THE WHY? With anti-Korean sentiment building and homegrown C-beauty brands gaining ground in China even before the extended Covid restrictions hit manufacturers and closed stores, LG H&H sales have taken a hit of late, dropping 11 percent to KRW7.19 trillion last year.

Medical aesthetic products refer to a category of products used in the field of medical aesthetics, which combines medical practices with cosmetic procedures to improve the appearance of individuals. These products are typically used under the supervision of trained medical professionals such as dermatologists, plastic surgeons, or specialized nurses. They are distinct from over-the-counter cosmetics in that they often contain higher concentrations of active ingredients or require medical expertise for their application.

Examples of medical aesthetic products include:

• Dermal Fillers: Injectable substances used to restore volume, fill wrinkles, and enhance facial contours. These may include hyaluronic acid fillers like Juvederm or collagen-stimulating fillers like Sculptra.

• Botulinum Toxin (Botox): Injectable neurotoxins used to temporarily paralyze facial muscles, reducing the appearance of wrinkles and fine lines caused by facial expressions.

• Chemical Peels: Solutions containing chemical exfoliants like glycolic acid, salicylic acid, or trichloroacetic acid, used to improve skin texture, treat acne scars, and reduce hyperpigmentation.

• Laser and Light Devices: Equipment used for various skin treatments, including hair removal, skin resurfacing, tattoo removal, and treatment of vascular and pigmented lesions.

• Prescription Skincare Products: Formulations containing active ingredients such as retinoids (e.g., tretinoin), hydroquinone, or prescription-strength antioxidants, designed to address specific dermatological concerns under medical supervision.

• Microneedling Devices: Devices that create tiny punctures in the skin to stimulate collagen production and improve skin texture and elasticity.

• Cosmeceuticals: High-quality skincare products that bridge the gap between cosmetics and pharmaceuticals, often containing biologically active ingredients with proven efficacy.