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Singapore: Uncovering Opportunities within the Booming Medical Aesthetics Industry in China
China is poised to become the world's largest market for medical aesthetic services by 2021. The surge of a thriving livestreaming economy has significantly increased demands from younger consumers who aspire to mntn an attractive appearance, which in turn, has led to a prolonged consumer life cycle within this unique ecosystem encompassing filler manufacturers, internet platforms, consumer finance apps, and aesthetic service providers.
Xiang Xu
Senior Analyst, Equities Eastspring China
February 2021 6-minute read
As one of the fastest-growing markets for medical aesthetics globally, China ranks second in terms of market size based on revenue, with projections indicating it will reach top status by 2021. This rapid growth is fueled by the significant influence of the livestreaming economy on Chinese consumer behavior, with younger demographics actively seeking aesthetic enhancement services.
The medical aesthetics industry in China has evolved to become a natural extension and upgrade from traditional wellness procedures, offering various avenues for investors looking to capitalize on this burgeoning market. The industry's potential is vast, as it spans diverse sectors such as local manufacturers of HA injectables, internet platforms providing customer reviews and specialized information, consumer finance applications designed to assist with treatment financing, and downstream opportunities in consolidating services providers.
Innovative advancements in HA injectable manufacturing have led to differentiated products that cater to increasingly segmented market demands. For instance, cross-linked HA formulations offer enhanced durability and consistency compared to their predecessors. Although early entrants might enjoy a first-mover advantage, latecomers can seize market share through product innovation and strategic investments.
The asymmetry of information and the multitude of aesthetic service providers have created opportunities for online platforms that provide consumer reviews and detled information about services. Simultaneously, the emergence of consumer finance applications has facilitated easier financing options for medical aesthetics treatments. As consolidation within the industry accelerates, downstream investment opportunities may present themselves.
China's medical aesthetics market is expected to surpass global leaders by 2021.
Younger consumers in China are increasingly seeking aesthetic enhancements through livestreaming platforms and other digital channels.
Local manufacturers of HA injectables have the potential for innovation, enabling differentiation based on product performance.
Internet platforms play a crucial role in bridging the information gap between consumers and service providers.
Consumer finance applications enable accessible financing options, driving demand.
As China continues to develop its 14th Five-Year Plan, the medical aesthetics industry presents a plethora of opportunities for investors. is part of Eastspring's Asian Expert Series, which delves into China's opportunities amidst economic reforms.
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Chinese Medical Aesthetics Market Expansion Livestreamings Impact on Beauty Services HA Fillers Industry Growth Potential Consumer Financing for Beauty Treatments Online Platform Role in Beauty Information Chinas Leading Position in Beauty Services