Medical aesthetics has both medical and consumer attributes, accompanied by the policy of doctors' multi-practice and the continuous promotion of consumer upgrading, there will be about 5,000 active medical aesthetic organizations in China by 2015, with a medical aesthetics market size of $50-100 billion, and the industry growth rate in recent years has reached 20-30%, higher than the average growth rate of the traditional medical industry.
In 1998-2016, 779 investments occurred in the upstream and downstream of the industry chain of China's medical beauty industry***, of which 671 disclosed the investment amount. All the disclosed investment amounted to 54.088 billion yuan, and the average investment amount per investment amounted to 80.61 million yuan.2001-2010, the medical beauty industry still belonged to the development period.Since 2010, the medical beauty industry has increased in the number of investments while the scale of investment has also increased dramatically.In 2015, the number of investment cases amounted to 249, which is an increase of more than 15 times compared with 2008, and the amount of investment has increased by nearly 10 The number of investment cases reached 249 in 2015, an increase of more than 15 times over 2008, and the investment amount increased nearly 10 times.
In 2001-2016, China's medical aesthetic industry*** occurred 302 M&A events, with a total M&A amount of RMB 68.06 billion, and an average of each M&A amount costing RMB 225 million, according to the upstream and downstream distribution of the medical aesthetic industry, the upstream pharmaceutical and medical device research and development and production*** occurred 143 M&A events, with a total M&A amount of RMB 34.929 billion. Middle and lower reaches of the medical hospital mergers and acquisitions and medical device sales *** occurred 159 M & A events, M & A total amount of 33.132 billion yuan. 2001-2010 M & A cases overall number of small, but there are a few large-scale mergers and acquisitions, the industry is still a period of development, 2011-2016, the merger and acquisition boom began to develop, the merger and acquisition of cases increased, and mergers and acquisitions of the amount of money is constantly climbing.
The upstream of the medical cosmetology industry mainly includes medical device manufacturers and material consumables manufacturers. From upstream to midstream are intermediaries, usually referred to as agents and distributors. The midstream of medical beauty industry mainly includes the beauty department of public hospitals, private beauty hospitals and beauty salons. At present, the market of medical beauty industry is relatively chaotic, the quality of midstream service organizations varies, there are very few public hospitals with brand effect, and national brand chain companies have not yet been formed, and there are irregularities in the operation of the problem. The middle to downstream of the medical beauty industry are customer guidance platforms, search engines and medical beauty APPs. Due to the over-reliance on the marketing model of the domestic medical beauty industry, there are a variety of intermediaries between medical service providers and consumers. With the rise of mobile internet in recent years, medical beauty APP platforms represented by Xinoxia have come online to establish a direct communication bridge between beauty hospitals and consumer groups, which is expected to rebuild the ecosystem within the industry, compress intermediate links, and improve the efficiency of beauty resource allocation.
From the medical beauty industry upstream, middle and downstream horizontal analysis, the upstream manufacturers due to the industry regulation is relatively standardized, the industry is relatively centralized, the profit is mainly concentrated in the upper reaches, especially the leading companies have higher profit margins. But in the medium and long term, the middle and lower reaches of the terminal integration to enhance the space is greater, the future is likely to become the main battlefield of the parties. From the whole industry chain has a vertical extension point of view analysis, medical beauty industry began to dock with culture and entertainment, advertising and media industries. After years of development, the medical beauty industry has formed a cross-industry covering many aspects, including medical research departments, medical institutions/devices industry, beauty service industry, culture and entertainment industry. As a cross-industry, the medical beauty industry has a broad market dimension and provides a greater value realization platform for more participants.
Medical beauty O2O solves the problem of information asymmetry in the traditional medical beauty industry, effectively solves the pain points of consumers, physicians, and medical beauty institutions, and creates business value by creating sources of customers for hospitals through lower costs, which has gained the favor of capital. The mainland medical beauty market publicity popularity is not as good as South Korea and Taiwan, South Korea and Taiwan are mainly popularized by stars and celebrities to the public knowledge of medical aesthetics, through simplified terminology, TV programs, celebrities publish books and other forms of medical aesthetics to make the public have a sense of affinity to medical aesthetics to shorten the psychological distance between the professional medical treatment and the audience. The mainland lacks a regulatory mechanism for advertisements related to the medical aesthetic industry, and exaggerated and false advertisements occupy the major hot searches as well as street alleys. The chaos in the industry has made the public's overall impression of medical cosmetology poor. Customers with cosmetic needs have difficulty finding trustworthy medical resources in China, so customers with better financial strength turn to South Korea and Taiwan for cosmetic surgery abroad, and customers who receive domestic services are extorted, and surgery failures and post-surgery grievances abound.
In order to improve the industry and reshape the structure of the medical beauty industry, it is important to solve the problem of information exchange between customers and medical service providers. Medical O2O on the one hand links professional medical beauty institutions, such as major tertiary hospitals beauty department, United Liger and other doctors group and offline clinics, small and medium-sized plastic surgery institutions, to provide customers with multi-level reliable medical institutions to choose from, on this basis, through the openness of the price of more, so that the industry tends to be transparent charges, and through the group purchase, discounts and other ways to provide customers with a reasonable price to improve the reliability of the medical beauty, to reduce the threshold of entry, so that more customers and medical service providers are able to provide the best service to customers. Lower the threshold of entry, making more customers happy to try medical beauty services and forming infusion. Medical beauty O2O not only provides docking services between customers and professional organizations, but also opens up consultation windows, where professional customer service or doctor teams answer customers' questions in time and follow up on post-operative services to improve customer satisfaction; at the same time, many medical beauty O2Os have formed a large number of word-of-mouth feedbacks as well as experience sharing by setting up beauty communities, which stabilizes some of the high-frequency consumption customers, provides comparative references to introductory customers, and provides a good example of how medical institutions' services are provided by customers in reverse. Clients reverse constraints on the service quality of medical institutions. Medical O2O has an irreplaceable and important role to play in popularizing medical knowledge, docking customer-agency demand, enhancing customer experience, and standardizing the industry's service quality, which promotes the formation of a benign competition pattern in the industry.
There are three major investment opportunities in the medical aesthetics industry: material/device manufacturers, private medical aesthetic hospitals, and medical aesthetics O2O
Based on the above analysis, we believe that China's medical aesthetics industry has entered the early stage of rapid development, and it is the best time to lay out the investment. From the upstream and downstream of the industry chain, three aspects are worth focusing on: first, beauty materials, equipment development, manufacturers; second, private beauty hospitals; third, medical beauty O2O. beauty materials and equipment manufacturers as the industry's main suppliers of raw materials in the upper reaches of the industry, the future with the improvement of technology and product quality, by virtue of the advantages of the low price is expected to continue to achieve the substitution of imports for the rapid development of China's medical aesthetics market provides a strong guarantee; private hospitals to provide strong protection; private hospitals, medical aesthetics industry is in the early stages of rapid development. Provide a strong guarantee for the rapid development of China's medical aesthetics market; private hospitals as a provider of beauty services, directly connected to consumer demand, with the standardization of the industry's competitive order, there will inevitably be part of the enterprise by virtue of the first-class technology, quality service and safe products and win, construction of a well-known brand of medical aesthetic service providers. And medical O2O can change the current pain points of the medical beauty industry, greatly shorten the distance between the beauty hospital and potential customers, thus reducing the cost of customer acquisition.
The world's medical beauty industry continues to grow, the global cosmetic surgery market size continues to grow
According to the research report of Guohai Securities, from a global point of view, after entering the 21st century, the world's medical cosmetic industry has become the third largest industry, second only to the automobile industry and the aviation industry. 2014 the global cosmetic plastic surgery market size of 34.6 billion U.S. dollars, a combination of recent years, the global beauty In 2014, the size of the global cosmetic surgery market reached 34.6 billion U.S. dollars, and in recent years, the global cosmetic surgery consumer market growth trend, it is expected that one-third of the world's top 500 companies will be engaged in research, production and sales of medical beauty technology.
From the supply side, in 2014 the plastic surgeon team is gradually growing, the total number of plastic surgeons in the world is more than 40,000 people. The United States today has 6,300 plastic surgeons, ranking first in the world with 15.6% of the total; China ranks third. The growth rate of plastic surgeons is a reflection of the growth rate of the country's cosmetic surgery industry. In countries such as the United States and Brazil, where the industry has reached maturity, the number of plastic surgeons is very stable. From the demand side, according to ISAPS (International Society for Aesthetic Plastic Surgery) statistics: in 2014, the U.S. domestic cosmetic plastic surgery consumption*** counted 4,064,500 cases, which accounted for 20.1% of the global total, while in 2015 the U.S. cosmetic surgery market has reached the scale of 5 billion U.S. dollars of sales of cosmetic surgery products and 18 billion U.S. dollars of cosmetic surgery treatment volume. Brazilian cosmetic surgery consumption*** counted 2,058,530,000 cases, accounting for 10.2% of the global total.