Recently, at the "Integrated and Innovative Digital Economy" forum at the Boao Forum for Asia, Jin Xing, Chairman and CEO of New Oxygen Group, stated that under the guidance of national policies, the medical beauty industry is accelerating its upgrading and development towards specialization, refinement, and digitization.
According to data, the medical beauty industry has gone through the 1.0 era of "disability treatment and functional repair as the main focus", the 2.0 era of "meeting basic aesthetic needs, dividing institutions and hospitals into large departments such as plastic surgery, skin beauty, and non-invasive injection", and the 3.0 era of "comprehensive factors such as project types, brands, prices, and services become important criteria for measuring the strength of medical beauty". After that, it is moving towards the 4.0 era of "patient-centered, medical quality as the core".
According to the 2023 Medical Beauty Population Insight Report released by Mob Research Institute, the number of medical beauty consumers in China increased from 20.93 million in 2022 to 23.54 million, a growth rate of 12.5%. The 2023 Insight Report on China's Medical Aesthetics Industry predicts that the market size of China's medical beauty industry will maintain a compound annual growth rate of around 15% in the next four years.
"At present, light medical beauty institutions lack a comprehensive solution from procurement, operation to service." Jin Xing said that the medical beauty industry is mostly small and medium-sized enterprises, and private medical beauty institutions account for more than 90% of medical beauty institutions. The difficulty in restructuring the market and reshaping production factors such as doctors, institutions, and medical devices is a major pain point in the operation of the industry, and it is also the main reason for the difficulty in improving the overall level of the industry.
At the same time, the demand for medical standards in the medical beauty industry has significantly increased. According to statistics from New Oxygen Data and Yan Research Institute, in 2023, light medical beauty consumption accounted for 80.8% of the total medical beauty consumption, an increase of 5.8% compared to 2022 and 117% compared to 2017. It is expected that by 2030, the market size of China's light medical beauty industry will reach 415.7 billion yuan, nearly twice that of surgical medical beauty.
Jinxing said that in order to solve the above problems, the upstream link of new oxygen traceability will be gradually unblocked through domestic and international cooperation in production, procurement, research and development, sales and other fields, and expand the supply of upstream products. At the same time, entering the industry, connecting and restructuring production factors such as doctors, institutions, and medical devices, and improving the level of medical delivery in the industry.
Jinxing stated that in the future, the company will continue to leverage its platform advantages and medical professional technology advantages in cultivating and expanding new types of consumption, vigorously developing digital consumption, health consumption, and other areas. In the next 5 to 10 years, we will strive to provide 100 million Chinese people with high-quality and affordable medical beauty services.