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Despite the challenges posed by the COVID-19 pandemic, the Chinese medical aesthetics market is currently experiencing a double-digit growth. Driven by favorable policies, the aesthetic medicine market in China is projected to increase at an impressive CAGR of up to 15% in the period between 2025-2035. This growth can be attributed to the robust Chinese economy and the increasing desire for aesthetic treatments.
Chinese Medical Aesthetics Market Outlook
Figure 1. Chinese Aesthetic Medicine Market Overview: Growth Factors and Key Segments
Comparing medical aesthetic treatments per 1,000 people, China lags behind countries like Brazil, the US, and Korea. While the treatment volume gap has decreased in the past years, indicating improvement, there remains substantial room for growth and immense potential in the future with the country’s population and economy sizes.
The overwhelming majority of potential consumers in China are willing to undergo aesthetic medicine procedures in the near future. Non-invasive treatments, including injectables and energy-based medical devices, are a slightly more popular choice among Chinese consumers than surgical procedures.
Factors such as increasing income, evolving demands and innovation, consumer base expansion, are driving the Chinese medical aesthetics market robust growth. At the same time, there are several local challenges to be taken into account:
Insufficient Professional Practitioners: The market faces a challenge with a shortage of professional medical aesthetic practitioners, especially when compared to Japan, the USA, and South Korea.
Lack of Consumer Education: Inadequate guidance for consumers in selecting appropriate institutions and treatments results in self-education through online platforms, including Little Red Book (Xiaohongshu) and SoYoung.
Compliance Status Improvement: Various governmental departments have initiated efforts to improve the compliance status of the medical aesthetic market to standardize the industry.
Aesthetic Medicine Trends and Opportunities in China
Figure 2. Chinese Aesthetic Medicine Market: Global Comparison & Cities with the Highest Amount of Aesthetic Medicine Institutions
The Chinese medical aesthetic market is characterized by several trends and opportunities:
- Increasing Demand for Non-Invasive Procedures: Non-surgical and minimally invasive procedures are on the rise, driven by a preference for less downtime and lower risks.
- Technological Innovations: Laser therapy, non-surgical procedures, and the use of artificial intelligence in treatment planning are becoming increasingly popular.
- Rising spending power and high-end consumers: The growing affluence of the Chinese population has contributed to an increased willingness to spend on aesthetic treatments. Among the general population, there is a steadily growing share of high-end consumers who express preference for anti-aging treatments with the help of injections (Hyaluronic Acid) and photoelectric devices (radiofrequency, ultrasound, HIFU). They especially value professionalism and quality when choosing treatments.
- Male consumers: There is a growing segment of male consumers, typically around 30 years old, who are increasingly opting for botulinum toxin, aqua lifting, skin rejuvenation, and whitening photoelectric treatments, in addition to seeking orthodontics and hair transplantation.
- Overseas aesthetic medicine tourism in other Asian markets: Most Chinese consumers will opt for Hong Kong, Macau, Taiwan, Japan, and South Korea for their overseas treatments due to proximity and similar aesthetics trends.
Overall, the Chinese aesthetic medicine market, poised for significant expansion, stands at the intersection of consumer demands, innovation, and regulatory improvements, offering both challenges and opportunities for stakeholders in the industry. Navigating the Chinese medical aesthetics markets requires robust understanding of local dynamics and years of experience in market entry.
Chameleon Pharma Consulting Group has more than 20 years of experience in providing support to companies looking to enter or expand in international aesthetic and pharma markets. With the expertise amassed from more than 160 international projects and 22 experts around the world, CPC Group offers:
- Systematic product and country analysis;
- Systematic local partner identification;
- Regulatory and registration assistance.