ISAPS data shows that from 2015 to 2019, the global medical aesthetics market achieved steady growth, with a compound annual growth rate of approximately 8.2%. In 2019, the global market size exceeded one trillion yuan, with a year-on-year increase of 7.5%, and is expected to reach US$1,782 in 2022.
Compared with the United States, Japan, South Korea and other countries, my country’s medical aesthetics industry started late and grew faster. In recent years, the market penetration rate has been increasing steadily, from 2.4% in 2014 to 3.6% in 2019. The data is still climbing, and the market potential is huge.
The reason for the prosperous medical beauty industry is that it has a good economic ecology. As early as 2019, according to data released by the National Bureau of Statistics, China’s per capita GDP has exceeded 10,000 US dollars. This prerequisite objectively provides an economy for the consumption of medical beauty. support.
In addition, the gradual improvement of national policies and the continuous addition of industrial capital have provided a good industrial environment for the development of the medical aesthetics industry. In addition, the rise of the "value economy" has brought about an increasing demand for medical aesthetics, which has led to the development of medical aesthetics technology, Industrial upgrading and progress.
As the post-ninety and post-zero generations gradually become the mainstream group of contemporary consumption, the consumption ideology and morphology of the people will also change accordingly. Medical beauty will only become a consumer position for more people, and the space and time of the market can also Get further expansion.
The structure of the emerging medical beauty industry chain includes both upstream medical beauty consumables and raw material manufacturers, as well as mid- and downstream medical beauty institutions, public and private plastic surgery hospitals, and a huge consumer group. Traditional medical beauty projects have shorter threads and application scenarios. And the target groups are also very limited. It is an unchangeable market law for good money to drive out bad money, so the rise of emerging medical aesthetics is unstoppable.
Medical beauty projects can be divided into surgical and non-surgical categories according to whether they are operated or not. The non-surgical category benefits from its safety, operability, and affordability, and has become a favorite among all medical beauty projects today. Xinxing, also known as light medical beauty, includes injections, skin beauty and other aspects.
Lower risk and faster recovery speed, these two advantages make consumers more inclined to light medical beauty when choosing. In recent years, my country's light medical beauty market has continued to increase its volume at a faster rate than the overall industry. In 2019, the scale was about 60 billion yuan, and its share of the medical beauty market rose to 42%; the compound growth rate of the young medical beauty market in 2014-19 was about 24.6%; Frost&Sullivan predicts that the scale of my country's light medical beauty market is expected to reach 144.3 billion yuan in 2024, corresponding to a compound growth rate of 19.2% in 2019-24.
Hyaluronic acid occupies half of the light medical beauty
According to ISAPS data, hyaluronic acid accounted for 32% in the global non-surgical aesthetic projects in 2019, which is close to one-third of the entire project. In my country’s injection medical aesthetics market, the scale of hyaluronic acid in 2019 was as high as 3.6 billion yuan. Toxins are listed as two major items in the medical aesthetics market.
With the country’s increased supervision of the medical beauty industry, more legal and compliant brands and products will be approved for listing, and the injection market will become more diversified, and it is expected to undertake the upgrade of skin care consumption.
According to the Sullivan report, the market size of China's medical aesthetics hyaluronic acid terminal products increased from 1.21 billion yuan in 2014 to 4.27 billion yuan in 2019, with a compound growth rate of 28.7%, and the market size is expected to increase to 7.60 billion yuan in 2024.
There is no doubt that the broadening of the new scene has become the key to the brand's decisive victory. Compared with the rich categories and larger scale of foreign markets, the domestic hyaluronic acid market still lacks sufficient development.
Nowadays, in addition to playing an important role in the field of medical beauty, hyaluronic acid is also gradually involved in food, daily chemical and other fields, and it may become a hot material in the entire field.
