(Yicai) Oct. 30 -- US biotech company Advanced Aesthetic Technologies this week launched its agarose-based facial filler for face reconstruction and contouring in China’s rapidly growing medical aesthetics market, where it faces few local rivals.

Algeness VL has been given the greenlight by China’s drug regulator, AAT’s China distributor China Biotics said on Oct. 28. The filler is already available in more than 40 countries and regions worldwide.

China’s injectable aesthetics market surged more than two-and-a-half times in 2023 from 2018 to CNY67 billion (USD9.4 billion), growing at a compound annual rate of 21.1 percent, according to public data. US consultancy firm Frost & Sullivan projects that the market will more than double again to CNY147 billion (USD20.6 billion) by 2027.

Few Chinese companies have ventured into developing agarose-based fillers, the material used in Massachusetts-based AAT’s product, so far. One exception is Shanghai-based Petal Biotechnology, which began building a production base for similar products last month.

Editor: Kim Taylor