A List of the Proportion of Domestic and Imported Medical Aesthetic Equipment

China’s medical aesthetics market is considered by many to be a “gold mine”.

With a CAGR of 22.5% from 2014 to 2019, China’s medical aesthetics market is one of the fastest growing countries in the world, and is expected to reach 360.13 billion yuan in 2023, which is expected to become the world’s largest medical aesthetics market.

In the entire industry chain, medical aesthetics device companies are considered to be the most valuable link for investment due to the technical barrier moat.

According to the terminal market items, medical beauty equipment can be divided into: injection, optoelectronics and surgery. Among them, surgery is mainly low-end products, and domestic brands occupy more than 90% of the market. This article will not analyze this.

01——

Injection: domestic brands have broad premium space

Due to its obvious effect, easy operation, short recovery period and relatively low price, injection projects have become the entry-level choice for many medical aesthetic consumers and prospective medical  aesthetic consumers, mainly botulinum toxin and hyaluronic acid injection. Botulinum toxin is a state-controlled neurotoxic drug, and the market has long been exclusively enjoyed by two companies, Allergan’s Botox and China Bio (Lanzhou Bio) Heli.

Hyaluronic acid, can regulate cell proliferation, migration and differentiation, and has a natural moisturizing effect. It is widely used in medical beauty, ophthalmology, and surgery.

The market structure of hyaluronic acid raw materials is stable. In 2018, the total sales volume reached 500 tons, dominated by domestic enterprises, accounting for more than 80% of the market share. Among them, Bloomage Bio is the world’s largest supplier of hyaluronic acid raw materials. In the global hyaluronic acid raw material market, Bloomage Bio occupies about 40% of the market share, and its market share in China is as high as 70%. ”

Although the raw material market is dominant, domestic brands are still inferior to foreign brands in the terminal market of hyaluronic acid. According to public data, the market scale of hyaluronic acid terminal products in China reached 5.77 billion yuan in 2020, with a compound growth rate of 24.0% from 2016 to 2020. It is expected to reach 14.71 billion yuan in 2025 at a compound growth rate of 20.6%.

Foreign brands such as LG in South Korea, Allergan in the United States, and Q-Med in Sweden occupy more than 60% of the market share, while my country’s “Big Three of Hyaluronic Acid” Imeik, Haohai Biotechnology, and Bloomage Bio have a combined market share of 25%. About. In terms of the terminal brand premium capability, there is still room for development in Bloomage Bio, Haohai Biotechnology, and Imeik Bio.

02-

Optoelectronics: foreign brands occupy more than 80% of the mid-to-high-end market

Photoelectric acoustic medical beauty is mainly through the action of laser, strong light pulse, RF or ultrasonic and other photoelectroacoustic technologies on the skin to stimulate and activate specific parts to achieve beauty, anti-aging and other effects. The main equipment includes: laser treatment equipment, photodynamic equipment, strong pulse light treatment equipment, blue light treatment equipment, negative pressure treatment equipment and RF treatment equipment.

According to public data, the market scale of optoelectronic medical beauty increased from 9.361 billion yuan in 2016 to 21.501 billion yuan in 2019, and the market scale of optoelectronic medical beauty is expected to reach 50.201 billion yuan in 2025.

According to the statistics of Joinchain Digital department, there are 452 photoelectric related products and 216 laser treatment equipment, including 147 domestic products and 69 imported products; There are 39 pieces of intense pulsed light (photon rejuvenation therapeutic instrument), including 34 pieces made in China, and one product in Israel, France and South Korea respectively.

In terms of market share, foreign brands are absolutely dominant. Alma of Israel, Lumenis of the United States, Cynosure, Fotona and Synergon of the United States account for 80% of the medium and high-end market of China’s laser medical and beauty equipment industry, and the domestic medical and beauty photoelectric equipment market accounts for less than 20%. The representative brands are China’s Miracle Laser, Peninsula Medical and GSD, which have self-research capabilities at different levels, and are expected to shorten the gap with foreign brands.

In general, for injection filling and optoelectronic medical devices, the mid-to-high-end market is still occupied by overseas companies, and domestic companies are obviously weak to foreign brands. How to challenge consumers’ established brand awareness still has a long way to go.

Source：Joinchain Digital

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