4Brand dynamics -> Industry information

Before 2021, Genmei released the "2020 Medical Aesthetics Industry White Paper", which showed that despite the impact of the epidemic in 2020, the pure medical beauty market in China still reached 19.5 billion yuan, accounting for 17% of the global market, and is expected to become the world's largest medical beauty country

No one expected that most medical and aesthetic institutions could not operate normally due to epidemic prevention at the beginning of 2020, together with the reduction of consumers' travel frequency and more careful financial planning, Frost&Sullivan once predicted that the overall growth rate of the medical and aesthetic industry would decline by 13% to 5.7% year on year, and such amazing energy would erupt under the impact of the epidemic

From "dark winter" to "counter trend growth", the medical beauty industry is able to take the key step of recovery first, and cannot do without the reverse stimulation of the epidemic on various industries' "online". When offline users are limited by the pandemic and switch to online platforms on a large scale, online medical beauty platforms also face new development opportunities

However, in a generally favorable environment, whether we can seize such opportunities of the times depends on the respective response measures and specific development trends of internet medical beauty platforms

Keyword 1 Reshape the pattern

The medical beauty industry, which was originally not fully online, is accelerating its "online" transformation under the influence of the epidemic

"The epidemic has not only brought development crisis, but also prompted the industry to open the opportunity for active evolution." In the view of Jin Xing, chairman and CEO of New Oxygen Technology, comprehensively embracing online, accelerating online, and building a more competitive and innovative business model are the key and inevitable choice for China's medical and aesthetic industry to overcome the development fog and win a better future

The reality is precisely that, according to relevant data, the market size of China's online medical beauty service platforms increased by 12.2% year-on-year in 2020, far exceeding the overall growth rate of the medical beauty market. The degree of online ization of China's medical beauty industry is accelerating

When offline users are limited by the pandemic and switch to the online market on a large scale, this can definitely be considered a crucial development opportunity for the medical beauty industry. After all, after years of development, online customer acquisition has become its most important way of customer acquisition

Source: Era Data

However, according to the data in the 2020 White Paper on the Medical Beauty Industry, the occupancy rate of compliant medical beauty institutions in China's first and second tier cities in the medical beauty platform is generally lower than 50%. The research results of New Oxygen Data Yan Research Institute and Daily Economic News Big data Research Institute on more than 1700 offline medical beauty institutions also show that medical beauty institutions lack operational talents and online operation capabilities, and online transformation is difficult

It can be seen that although the growth rate of online traffic for consumer users is significant, there are still many medical beauty institutions that are difficult to adapt to the current situation and successfully start the process of online traffic

The internet medical beauty platform that connects upstream related industries such as consumables and machinery, midstream medical beauty institutions such as plastic surgery hospitals and beauty salons, and downstream consumer users can undoubtedly better reach users and meet their consumption needs in a one-stop manner

In addition, the accelerating "online" medical beauty industry is facing a huge incremental market. According to the Insight Report on Medical Beauty Market trend, the market size of medical beauty in China is expected to reach 197.5 billion yuan in 2020, and the annual compound growth rate is expected to still exceed 15%. The Chinese medical beauty market is expected to exceed 300 billion yuan in 2023

Therefore, in addition to the long-term presence of vertical medical beauty platforms such as New Oxygen and Genmei, new "gold miners" have also come after seeing the future potential: Tmall and AliHealth merged into the medical beauty field, JD and Yuemei reached strategic cooperation, Baidu launched "Baidu Lemon Love Beauty", Meituan upgraded Aesthetic medicine business from beauty business department to beauty business department

When the internet medical beauty competition is crowded with old players and new entrants, and the market competition intensifies, the industry begins to present a "one super, multiple strong" competitive pattern - "Internet medical beauty first stock" New Oxygen has a clear leading advantage in medical beauty, with vertical platforms such as Genmei and Yuemei relying on their layout for many years to closely follow, and cross-border internet giants represented by Alibaba, Baidu, and Meituan cannot be underestimated

In order to seize traffic and enhance their competitiveness, they can be said to have a hundred wise strategies. For example, New Oxygen utilizes technological advantages such as 5G, AI, and VR to innovate products and advertise in popular film and television variety shows, eager to consolidate its current industry position and take it to the next level; Alibaba, Meituan, and others have relied on their huge traffic entry, combined with the "community+evaluation+e-commerce" model, to strongly enter and impact the current market situation

At present, we cannot determine how far each of the aforementioned competitors can take advantage of the opportunities of the times based on their latest developments. However, it is certain that the winner in the future will be the one who actively embraces the latest trends and makes appropriate changes

Keyword 2 Chronic diseases are difficult to eliminate

Disorders such as institutions, doctors, pharmaceuticals, and marketing remain pain points that constrain the development of the industry

In the rapidly developing market of internet medical beauty, consumers are a crucial factor in influencing the expansion of the internet medical beauty platform market. When it comes to the most perplexing factor for medical beauty consumers, it is still the final consumption decision

Medical beauty projects are considered a medical field and require high professionalism. Some medical beauty projects still carry risks in the public sense, so consumers are more inclined to choose trustworthy platforms. At present, the reputation of practitioners in the internet medical beauty industry is facing a fatal threat under the invasion of the medical beauty industry

Perhaps because medical beauty is a lucrative industry, many black industries automatically pursue profits. Taking "Hyaluronic acid first share" Shanghai Haohai Biotechnology Co., Ltd. as an example, its prospectus shows that Haohai Biotechnology produced 1.03 million Hyaluronic acid and sold 0.93 million Hyaluronic acid in 2018, with a cost of less than 20 yuan, a sales price of 285 yuan and a Gross margin of 93%

According to relevant data from iResearch, only 12% of the industry is legally and compliant in carrying out medical beauty projects. Disorders such as institutions, doctors, and drugs remain pain points that constrain the development of the industry. For example, in the 2019 medical beauty market regulation of 176.9 billion yuan, high demand consumers find it difficult to identify legitimate institutions and doctors, while potential consumers hold a wait-and-see attitude towards medical beauty with frequent accidents

According to the statistics of the China Plastic Surgery Association, there were a total of 20000 complaints of disfigurement in 2019. The investigation results of Aesthetic medicine experts behind the complaints show that medical beauty accidents occur frequently in black medical beauty. On average, the number of disabled and dead people caused by black medical beauty is about 100000 every year. Most consumers have no way to report complaints, and it is extremely difficult to safeguard their rights

Among them, the third-party internet medical beauty platform, which serves as an intermediary and was originally the most reliable "guardian" behind consumers, failed to fulfill the platform's audit responsibilities, resulting in damaged reputation and limited development

Previously, the leader of the internet medical beauty industry, New Oxygen, had been questioned by users and the outside world due to the problematic platform's backreading. According to the IPO report of Personal media New Economy, Beijing Ivy Aesthetic medicine has won the certification of new oxygen medical institutions and quality assurance institutions, and won the praise of 5.0 hot sales points, 3.8 price points, and 3.9 response points. It has provided 1889 services in new oxygen, more than 10000 consultants, 630 diaries, and 5582 fans. However, the Beijing police reported that they had raided 9 medical beauty institutions, including Beijing Effie Aesthetic medicine and Beijing Oscar Aesthetic medicine

The proliferation and proliferation of medical beauty products not only bring economic losses to consumers, but also pose a huge threat to their health. As a platform, fighting against the medical beauty industry has become a top priority on the development path of internet platforms such as New Oxygen

Therefore, how to break through the "stubborn disease" that has accompanied the development of the medical beauty market for many years and establish more effective measures to prevent "black production" has become the key to the sustainable development of the internet medical beauty platform and even the entire internet medical beauty industry behind it

The first step in industry self-discipline is to ensure smooth information flow, otherwise all self-discipline is just talk on paper. The efficiency of managing an online industry platform is higher than that of managing tens of thousands or hundreds of thousands of offline institutions. This is not only the trend of industry development, but also the key to regulating the development of medical aesthetics. As Secretary General Zhu Meiru of the China Plastic Surgery Association said, to adapt to the new development situation and "move" the medical aesthetics industry online, Perhaps it will be a crucial step in regulating the development of the industry

Keyword 3 Model Innovation

Following the trend of live streaming in 2020, "medical beauty+live streaming" has become a new marketing model

The biggest trend in 2020 was through live streaming. Internet medical beauty platforms such as New Oxygen and Genmei closely followed the trend, making medical beauty live streaming a new marketing model in the medical beauty industry in the second half of 2020

In fact, in the early stages of the outbreak of demand for medical beauty, internet medical beauty platforms mainly used celebrity celebrities as samples to promote medical beauty products through graphic and textual forms. This seemingly popular medical beauty knowledge article, while actually promoting technology and products, is an excellent way for medical beauty platforms to contribute to user and market cultivation

Even today, the official official account of New Oxygen and Better is still outputting medical and aesthetic popular science content day and night to improve the decision-making efficiency of users. However, the fact that Genmei was appealed to the court by Ma Su, Zhang Yuqi, Qin Lan, Tong Liya, Li Yifeng and other stars proves that this practice has brought development risks to the platform

Since the rise of live streaming, during the June 18, 2020 promotion period, Taobao live streaming data shows that consumer medical live streaming has experienced explosive growth in data indicators such as live streaming sessions and GMV guided transactions. New oxygen, more beautiful and other internet medical beauty platforms seize the opportunity and quickly approach the new marketing model of "live streaming with goods"

On July 26th, Venus and Yi Nengjing jointly appeared in the "Hot Maggie Carnival Night" live broadcast room, helping New Oxygen establish its reputation as the "number one medical beauty live broadcast". From then on, medical beauty live streaming spread to the entire new oxygen platform in almost a month through expert Q&A, real-life experiences of cosmetic surgeons, and presentation of surgical scenes, even presenting a normalized and promising scene

On December 23rd, Zheng Shuang appeared in the live broadcast room of Genmei APP to discuss the current situation and future development of the medical beauty industry with Genmei CEO Liu Di. According to multiple media reports, the live broadcast room attracted over 1.2 million strong onlookers in just one hour, with nearly 10000 live messages

In fact, the ambition of the medical beauty industry in the field of live streaming sales goes far beyond this. It is reported that various live streaming platforms, MCN institutions, national core medical institutions, and other industry ecological representatives are still committed to building a demonstration base for medical beauty live streaming. They plan to promote the diversified development of medical beauty live streaming through training and certification of professional medical beauty anchors

However, under the surface of the popularity of medical beauty live streaming, there are still many concerns to be addressed for users: how to find the most reliable one among so many live streaming projects? Is the effect presented in the live broadcast true? How can the qualifications of relevant hospital doctors be guaranteed

More importantly, even with innovative marketing models and increased attention, how to provide consumers with products and services with quality and quantity is the key to maintaining the competitiveness of internet medical beauty platforms in the increasingly fierce competitive landscape

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