Vancouver, British Columbia Jun 13, 2022 (Issuewire.com) - A major player has taken notice, and we are about to see a radical change in the cosmetics industry.
In many cultures, such as those in Asia and South America, a lighter skin tone is often associated with prosperity and beauty. Companies have capitalized on that fact by offering products such as lotions, creams, soaps, and pills, promising consumers lighter and healthier skins. This has created a global market for skin lightening estimated to be worth more than $8 billion globally as of 2021.
In China, the market is estimated to be worth roughly $5.5 billion by 2026, with the global market reaching $11.8 billion by the same timeframe. The most common ingredient used in skin lightening products today is hydroquinone, the current gold standard, as well as arbutin, azelaic acid, and kojic acid, among others.
A biotech and cosmetics compound research company called Sirona Biochem (TSX-V: SBM) (FSE: ZSB) (OTC: SRBCF) has managed to synthesize a new molecule that may change the way companies make skin-lightening products moving forward. The Canada-based company, which has a research facility in France under its subsidiary TFChem, used its proprietary carbohydrate bonding technology to synthesize the molecule based on the antifreeze glycoprotein found in the blood of the cod icefish deep in the Antarctic waters.
The molecule, called TFC-1067, has been found to be much more effective and safer than hydroquinone. Sirona has already conducted successful human trials on the molecule and indicated that it was ready for commercial use.
AbbVie, one of the largest pharmaceutical companies in the world based on revenue, had taken notice and signed an exclusive global licensing agreement to commercialize and market TFC-1067. The Botox injections maker reportedly plans to establish an entirely new product line around the molecule, targeting major skin whitening markets such as China, South America, Africa, Canada, and Japan.
In those countries, cultural factors and online media's obsession with fair skin continue to fuel the demand for skin-lightening products and treatments. The Asian market, in particular, is propelled by the rapid growth of its population, as well as the growing impact of western culture and an expanding middle class. Consumers' high discretionary incomes, easy access to online and offline channels, and a diverse range of products contribute to the market's exponential growth.
Technological and manufacturing advancements have led to the creation of novel formulas, all aiming to tap into the lucrative market. Consumers are opting for products that contain bioactive extracts and effective ingredients such as TFC-1067, which offer enhanced skincare qualities such as skin health renewal and lightening without negative side effects. AbbVie and Sirona Biochem are at the forefront of this new revolution, and their future products could alter the skin-lightening landscape sooner than expected.
For more information, please visit https://www.sironabiochem.com
or download their Investor's Presentation
Source :Sirona Biochem Corp.
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