China’s medical beauty industry has entered a rapid growth path. In 2019, China’s per capita GDP exceeded US$10,000 for the first time, which objectively provided economic support for the rise of medical beauty consumption. The gradual improvement of national policies and the continuous entry of industrial capital have created a good industrial environment for the vigorous development of the medical beauty industry. The rise of the “beauty economy” has brought about the growth of demand for medical beauty. The landing of a large number of new products brought about by the advancement of medical cosmetology technology has jointly promoted the medical cosmetology industry into a booming period from the two dimensions of demand and supply.
China’s medical beauty industry has become a market of 100 billion Chinese Yuan
China has become the world’s second largest medical beauty market. According to Frost &; Sullivan data, in 2019, the market size of China’s medical beauty service industry was 143.6 billion yuan, second only to the United States and the second largest medical beauty market in the world. In 2015-19, the compound growth rate of China’s medical beauty market was 22.5%, and it is in a period of rapid growth. The agency also predicts that from 2019 to 24, the industry will continue to expand at a compound growth rate of 17.3%.
Among the medical cosmetology clientele, women in high-tier cities are the main consumers
Women are the main consumer, and men’s needs contain room for further release. According to ISAPS, women accounted for 89% of China’s medical beauty users in 2020, the main consumer group, and their proportion remained relatively stable from 2018 to 20 years. The proportion of men is 11%, and there is still a lot of room for men to seek beauty.