Ten Bio 社は日本にあります.
In May this year, Ten Bio will attend the global session of the International Societies for Investigative Dermatology (ISID) to be held at the Keio Plaza Hotel, Tokyo between 10th and 13th of the month. This is a very exciting new geography for Ten Bio. The team will be hosting a booth to engage with the diverse set of delegates attending the meeting and is also to present on how mechanical tension influences the immuno-competency of ex vivo human skin tissue.
In preparation for our attendance at the ISID and for meetings with Japan’s industry leaders, Ten Bio has sought to better understand the market for skin care products in Japan and its neighbours in the APAC region. In undertaking this research Ten Bio has been ably supported by the team at Scottish Development International and its in country teams.
Japan is a powerhouse in the region, and with its neighbours of China, India & South Korea is driving the skincare segment of the cosmetics market to new heights. The Asia Pacific region is estimated to contribute ~46% of the global market for skincare products by value, roughly $65Bn. With CAGR forecast at >5% which outstrips other regions this share will grow to reach 50% of the global market by the middle of the decade.
A growing awareness of personal healthcare and wellness is fuelling demand for skincare products from both male and female consumers, which is driving the growth in the Asia Pacific region. The region is witnessing a rapid expansion in social media driven advertising with celebrity endorsements and younger consumers responding with increasing demand for skincare products with a strong emphasis on natural products and brands backed up by scientifically established claims.
We anticipate hearing more about the need for products for consumers with sensitive skin. A recent study reported that 60% of respondents have sensitive skin. The push for more natural products is already apparent. This data suggest that will be a growing trend. Social media and innovation in how the skincare products are advertised, purchased and applied are further driving the growth trend. Ten Bio’s TenSkin™ human skin model is the optimum platform for not only evaluating the rejuvenation benefits of new brands but can also give indications of any inflammation responses caused by a given treatment. Our goal is to raise awareness of Ten Bio in the minds of the industry that is tasked with addressing the dynamics of this rapidly growing market.
Within the region the market in Japan is exhibiting rapid growth from its current estimated value of $12Bn with CAGR near 6%. Japan’s market for skincare products could approach 10% of the global figure by the end of the decade.
There are many companies poised to capitalise on the considerable commercial opportunity for skincare products and other cosmetics in Japan and the Asia Pacific region. The global players of J&J, L’Oréal, Estée Lauder are well represented, and they are joined by several important and local players, e.g. in Japan, Kao Corporation, Kosé Corporation and the largest of the ‘locals’, Shiseido Company.
Shiseido has made skincare central to its current strategy which has as its goal to drive growth at an improved core operating margin of up to 15%. The ‘WIN 2023’ initiative is bearing early fruit as the company capitalises on the underlying growth trend to expand its market share.
The Ten Bio team is looking forward to meeting representatives of these and many other companies in May at ISID and in their own offices to further develop relationships and showcase our advanced ex vivo skin technology. In addition, we are exploring channels to the market through the services of distributors and sales agents. We expect a significant level of interest from the market given the scale of the market and the push for innovation by the players in it.