China's potential demand market
Compared with other developed countries, the penetration rate of medical beauty services in China is still very low. In 2018, the number of people receiving medical beauty treatment per 1000 people was only 14.5, compared with 52.2 in the United States and 89.2 in South Korea. Therefore, China's medical beauty industry has huge development space. In particular, the improvement of the penetration rate of low-level cities will greatly improve the overall penetration rate of the Chinese market.
As the main consumer of medical beauty services, China's female population aged 20-54 remains stable. According to the data of the National Bureau of statistics, in 2018, the number of women aged 20 to 54 in China was 369.5 million, accounting for 54.2% of the total number of women in the world. With the spread of popular culture, the influence of star effect, the experience sharing of key opinion leaders and stars on social platforms, medical beauty services have been fully promoted.Therefore, the social acceptance of medical beauty services is higher and higher. In addition, because people can improve their appearance through the assistance of medical beauty services, medical beauty services are becoming more and more popular. The improvement of awareness and penetration of medical beauty services, coupled with China's huge demand population, will bring huge dividends to medical beauty services.
China is the second largest market
With the change of income level and medical beauty concept, more and more people begin to use beauty technology to maintain their youthful charm. According to frost Sullivan's data, in terms of revenue, China has become the second largest medical beauty service market in 2018, with revenue reaching US $18.379 billion, accounting for about 13.5% of the global medical beauty service market.
In China's medical and beauty service market, the medical and surgical diagnosis and treatment market occupies a leading position. In 2018, China's medical and surgical diagnosis and treatment market accounted for 58.9% of the whole medical beauty service market, reaching 71.7 billion yuan. However, in recent years, cosmetic non-surgical diagnosis and treatment has become more and more popular in China because of its short recovery period, and the market scale has increased rapidly.