With a Scale of More Than 35Billion, Analysis of China’s Medical Beauty Photoelectricity Device Market
I. Upstream raw materials: biomedical materials, sensors
The overall start of sensors in China is relatively late, and there is a large gap between China and foreign countries in technology.
II. The middle reaches of the industrial chain: medical equipment manufacturers
China’s laser medical beauty equipment market has completed industry integration, the competition pattern is relatively stable, and Chinese companies have a high market share.
Among the leading companies in China’s laser medical beauty device industry, Alam and Fotona were acquired by Fosun Pharma and China/Deutschland in 2012 and 2017 respectively, becoming companies under Chinese control, promoting the market share of Chinese companies in China’s laser medical beauty device market to over 65% . Since 2014, the product market penetration rate of domestic companies such as Miracle Laser, Peninsula Laser, and GSD has continued to increase, and their competitiveness in the mid-to-low-end market has continued to increase.
Skin rejuvenation is also one of the more popular medical beauty items in China, and the industry demand is also growing.
In 2020, China’s pulsed light medical beauty equipment market reached 690 million yuan, with a compound growth rate of 14.2% in the past five years. In the next 5 years, pulsed light medical beauty devices will be more comfortable, controllable and targeted due to the tunability of the wave source, the wide range of application fields, and the market size will also be on the rise. By 2025, the market scale of pulsed light medical beauty equipment will reach 1.06 billion yuan.
At present, the domestic market of pulsed light medical beauty devices also mainly relies on imports, mainly Lumenis and Alma.
Among them, Lumenis is the pioneer and leader of photonic technology. Its core technology is OPT/AOPT. Its well-known photonic skin rejuvenation equipment is an old-fashioned product generally recognized by medical beauty service institutions, and has a high market recognition. In terms of domestic production, Miracle Laser and Shenzhen GSD brands continue to catch up in this technical field.
Lumenis devices use higher-end AOPT and OPT intense pulsed light technology, which has a wider range of applications and better effects. Compared with other devices with the same function, the unit price and use price are more expensive. Alma uses DPL technology, although it is slightly less than the Lumenis brand. It lags significantly, but it is still more advanced than the technology used by most domestic manufacturers.
At present, the domestic strong pulsed light medical beauty device brands as a whole still have a big gap compared with imports in terms of technology, and they are in the low-end field. However, due to the rapid development of domestic medical technology, large market demand, and lower sales and manufacturing costs than imports, Chinese domestic brands have occupied a large market share while independently updating their technologies. The domestic market of ultrasonic scalpels has not been legally introduced, and the market is chaotic. Merz of Germany occupies a monopoly position in the market.
In general, foreign brands still account for a larger part of the high-end market of optoelectronic medical beauty devices, but domestic enterprises are constantly expanding their territory through mergers and acquisitions to complete the corner overtaking.
III. Downstream of the industrial chain: medical beauty institutions and consumers
The medical beauty institutions that carry out medical beauty projects in China are uneven, and the pharmaceutical and mechanical products in the middle and upper reaches of the market are mixed. The qualifications of terminal medical institutions and doctors still need to be standardized. In 2019, imported equipment accounted for 80%, domestic equipment accounted for 9%, and parallel imports and fakes accounted for 11%; the equipment structure of illegal institutions accounted for 90% of Chinese-made equipment, and parallel imports and fakes accounted for 10%; with the change of the internal structure of the medical beauty market, it also promotes the market development direction of the medical beauty equipment industry, in which the rise of non-surgical medical beauty projects, such as Hot Maggie, will promote the development of optoelectronic medical beauty devices.
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Source：Siyu MedTech
Edited and translated by ：Bradyknows
