A Brief Introduction to the Medical Beauty Industry
(1) As an extension of the consumer demand for beauty, medical beauty integrates medical and consumer attributes, and is a high-quality track with both a high threshold for medical treatment and a high ceiling for consumption. Compared with basic skincare products, its effect is more direct and faster, and compared with color cosmetics products, the improvement of skin condition is more thorough, which in turn has a strong consumer stickiness and willingness to repurchase.
(2) The medical beauty program can be divided into two categories: surgical and non-surgical (also known as light medical beauty) according to whether or not surgery is required. Among them, the surgical category contains facial medical treatment (facial contouring such as eyes and nose), body medical treatment (body contouring such as chest and buttocks), skin medical treatment (hair transplantation, etc.), and oral medical treatment (orthodontics, etc.), etc.; and the non-surgical category, also known as light medical aesthetics, contains injections (hyaluronic acid, botulinum toxin, etc.), skin aesthetics, and others (photoelectricity, sonic waves, intimate care, etc.).
Chart: market structure of China's medical aesthetics industry (2019)
China's medical aesthetics industry
Saying: 143.6 billion yuan
2015-2019 CAGR22.5%,2019-2024 E CAGR1739
Surgical
Non surgical
Market Tip. Search: $83.6 billion
2015-2019 CAGR21.2%,2019-2024 ECAGR15.8%
2015-2019 CAGR24.6%,20192024 ECAGR19.2%
Skin Aesthetics & Others
Oral Medicine
Injectable Category
Facial Medical
Body Medical
Dermal Medical
Market: $30.9B
2015-2019 CAGR24.8%,20192024 ECAGR17.9%
$5
Dentistry Ortho Ultra
2015- 2019 AGR244
Suction Surgery
Hair Transplant Surgery
$295
2019-2024 E CAGR203%
Breast Enhancement Surgery
Mi by Quality Day
Other
$53
Hyaluronic Acid Injection
0 Abdominal Sa shape
Car surgery
Tooth whitening
Botox injection
Micro-needling, fruit service skin
6.9 billion yuan
Quantum injections
Sound photon skin
The topic of dermatomal, puncture points
Hyaluronic acid injections
Botulinum toxin injections
Buried threads<
Liposuction
Market size: -20.6 billion yuan
Market size: 101 billion yuan
Intimate care
Market size: 1 billion yuan
Market size: -8.4 billion yuan (2020
Accounting for 66% of injections
Gubi injections 33%
Market size: $800 million
2019-24 E CAGR26%
2020.30 E CAGR25.3%
2014-19 CAGR31.59%
2015-19 CAGR31.6%
201519 CAGR6.1%
2019-24 E CAGR20.49%
2019-24 E CAGR173%
Two, medical beauty industry chain above the middle and lower reaches
Medical beauty industry the whole industry chain profit distribution is not very uniform, from upstream to downstream are raw material manufacturers / injection manufacturers, medical beauty organizations, medical beauty platform.
The upstream raw material manufacturers have a strong right to speak, so its gross profit margin can reach nearly 90%, the net interest rate can reach about 30%. The medical platform to master the channel entrance, with the ability to guide the flow, so also hold a certain right to speak.
So one end of the squeeze, in the middle of the medical beauty organization in turn is the most tired of the work, take the least salary of the party, but also need to bear greater medical risk.
1. Upstream
Upstream: The upstream of the medical aesthetic industry is the production, research and development of raw materials and pharmaceutical suppliers, responsible for the research and development and production of medical supplies, according to the production of product categories can be further subdivided into the medical equipment and drug supply and manufacturers. Examples include raw materials such as hyaluronic acid, botulinum toxin and collagen, as well as laser aesthetic devices.
The characteristics of the upstream segment: the value of the manufacturer's investment is highlighted; the segment's profitability is the strongest; and the barriers are high.
2. Downstream
Downstream: medical beauty marketing platforms, mainly online information service and marketing platforms, including various types of online search APP. such as vertical medical beauty and health platforms.
The characteristics of the downstream link:
(1) Online platform can reduce the cost of customer acquisition for medical beauty organizations, form a bond between the organization and consumers, and enhance the transparency of the information;
(2) It can effectively solve the problem of asymmetric information, and provide an accurate and effective customer acquisition channel for the merchants;
(3) It has the advantages of high precision of the placement, and wide geographic coverage, The input-output ratio and other advantages.
3. Midstream
Midstream: medical beauty service providers, the midstream is mainly service organizations, involving public hospitals plastic surgery and cosmetic surgery departments, private medical beauty hospitals and many small clinics, with a low degree of concentration, fierce competition, a large information gap, low profitability, and mainly relying on channels.
Midstream segment characteristics:
(1) the service market is fragmented, and the profitability of a single unit is at different levels;
(2) beauty specialty hospitals and medical aesthetic institutions have a high degree of dependence on doctors, and it is difficult to achieve standardization;
(3) medical aesthetic institutions are highly dispersed, and the cost of marketing is high;
(4) there are a large number of illegal and unethical institutions operating in the industry and the qualification lacks assurance.