The total global medical aesthetic treatment volume is relatively stable. As of 2018, the total global medical cosmetology volume was 23.3 million, which was a decrease from the previous year. Among them, the surgical treatment volume was 10.6million, a year-on-year decrease of 0.6% while the number of non-surgical treatments was 12.7 million, a year-on-year increase of 10.4%.
Non-Surgical Injection Projects Are Popular
In 2018, the market size reached 144.8 billion yuan, and the 5-year CAGR reached 31.79%. The market size of injection projects accounts for nearly 60% of the industry, among which hyaluronic acid is the most popular. According to new oxygen big data forecasts, the market size of injection-type medical beauty projects accounts for the largest proportion of the industry, about 57.04% in 2019. Among them, hyaluronic acid injection accounted for 66%, and botulinum toxin injection accounted for 33%.
Hyaluronic Acid Medical Beauty Application Scenarios Continue to Innovate, And the Products Are Not Limited to Hyaluronic Acid Filling
In terms of application scenarios, hyaluronic acid on the market is mainly used for injection filling and hydrating needles. The former usually uses macromolecular hyaluronic acid to fill plasticity, while the latter usually uses small molecule hyaluronic acid to maintain skin care. Injection filling hyaluronic acid is mainly used for wrinkle removal and filling and other contour changes. The injection of hyaluronic acid for wrinkle removal is mainly for filling the tear grooves and nasolabial lines that appear on the face over time; while the hyaluronic acid for filling is mainly used for shaping effects, including rhinoplasty, chin pads, Enrich temples, forehead, cheeks. In addition, in recent years, hyaluronic acid has also been used to highlight its own personality points, such as lip beading, apple muscle enhancement, and silkworm reproduction.
The Botox Market Is Promising Due to Face-Lifting and Wrinkle Removal
Botulinum toxin is used for local wrinkle removal, and it is used more frequently. Botulinum toxin is a toxic protein produced by the gram-positive anaerobic botulinum during the reproduction process and has strong neurotoxicity, which can inhibit the release of acetylcholine in the presynaptic membrane of peripheral motor nerve endings and block the transmission of information between nerves and muscles, thereby causing relaxation paralysis of the muscles. Therefore, the main application in the field of medical aesthetics is to relieve muscle spasm and wrinkle.
The overall market space is 6.5 billion, and parallel imports account for 70%-80%. Data show that in 2018, China's botulinum toxin market was 6.46 billion yuan, with a compound growth rate of 15.5% from 2008 to 2018. Assuming that this growth rate is maintained, China's botulinum toxin market will be 17.71 billion yuan in 2025. There are a large number of botulinum toxin products sold through informal channels in China. According to data, 70% of hyaluronic acid and botulinum toxin products sold on the domestic market are made up of fake and parallel imports, and the actual annual consumption is that of regular products About 5 times.
Looking overseas, Botos has performed well in the global market, and local brands in the Korean market are relatively strong. At present, Botox is the product with the highest market share in the world, over 70%. The Korean medical aesthetics industry is relatively developed, and the local brands are mature. In the Korean botulinum toxin market, under the leadership of Neuronox products, Medytox has had a market share of nearly 40% in South Korea since 2009, and the Korean market has the largest market share, followed by Hugel Pharma, Daewoong Pharma.
The domestic approval process for botulinum toxin is complicated and takes 8 to 10 years. Botulinum toxin is used for drug registration and registration in accordance with China's standards for biological preparations. The registration process requires submission of information and on-site inspection to the Drug Evaluation Center of the State Food and Drug Administration to apply for Phase III clinical implementation. At present, only three types of botulinum toxin for injection are approved in China, namely domestic Hengli, American Botox and British Dysport.
Thread Carving Opens A New Concept of Anti-Aging
The thread carving technology refers to the implantation of special cosmetic thread in the skin to stimulate the skin to proliferate collagen, so as to achieve the purpose of improving the loose state of the skin. Thread carving is a type of facial lifting technology, which is a minimally invasive technology, between surgery and non-surgical. Traditional wrinkle-lifting surgery generally uses surgery to perform subcutaneous peeling, excision of excess skin, and then suture and lift to achieve the therapeutic effect; thread carving technology uses threads composed of absorbable proteins, implanted in the part that needs to be lifted. Compared with other current non-surgical wrinkle removal techniques, thread carving focusing on the overall anti-aging can act on the epidermis and dermis.
China's existing thread carving market is less than 500 million yuan, and there is more than 10 times the space for benchmarking abroad. Related data, non-surgical facial rejuvenation projects are about 5% in 2019, assuming that the linear sculpture projects account for 10% of the non-surgical facial rejuvenation projects, and the total market space for linear sculpture projects is 360 million yuan. In 2019, there were 334,000 cases of non-surgical facial lifting projects in the United States, which was the same year-on-year. The market size was 920 million U.S. dollars and the penetration rate among the population was 0.1%. Given that the Chinese market population is younger than the US consumer population, the demand for non-surgical facial lift is higher than the demand for surgical facial lift.
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