Zhitong Financial APP learned that the epidemic resumed superimposed epidemic prevention policy is marginal loose, medical beauty as offline consumption is expected to continue to recover. The agency pointed out that medical and beauty products need to reach consumers through downstream offline service organizations, and with the marginal relaxation of epidemic prevention and control, the backlog of medical and beauty demand is expected to be released and drive the market to rebound, especially light medical beauty is therapeutic and is expected to show greater flexibility. From the perspective of the industrial chain, the downstream service institutions suffered the most during the epidemic and were more flexible upward in the recovery channel.
According to the consulting data of Ai media, nearly 60% of the Chinese people have an understanding attitude towards light medical beauty consumption, and nearly 80% of the people say that they are willing to try light medical beauty consumption in the future, and the population of consumers in the medical beauty market is expected to continue to expand in the future. Huaxin Securities Research and report estimates that this year, China's light medical beauty market is expected to reach 120.7 billion yuan, an increase of 23.5% over the same period last year.
On the disk, as the current core main line big consumer sector continued a higher moneymaking effect yesterday, medical and beauty concept stocks rose sharply, 000615.SZ pulled up the sealing board, 688366.SH gained 20CM gains, and Longzi shares (002612.SZ), Aquarius shares (300740.SZ), Bettany (300957.SZ), 300896.SZ and other shares rose more than 6 per cent.
Although the medical beauty market in China is developing rapidly, the penetration rate is still low.According to the data in 2020, the number of medical treatments per thousand people in South Korea is 82.4, that in the United States is 47.9, and that in China is only 20.8. There is a big gap compared with the United States and South Korea, and there is much room for improvement in the future.
In terms of market size, China has become the second largest medical and beauty market in the world, growing from 99.3 billion yuan in 2017 to 189.1 billion yuan in 2021, with a CAGR of 17.5%, which is much higher than the global growth rate of 3.0%. With the upgrading of consumption, demographic changes, the gradual maturity of medical technology and the rise of online celebrity / live broadcast economyThe market size is expected to reach 638.2 billion yuan in 2030, three times that of 2021..
Guolian Securities pointed out that the pure offline consumption of medical beauty services will result in greater damage to the industry as a whole in 2022, and the medical beauty demeanor will be marginally repaired in the context of relaxed epidemic control in 2023. At the same time, since late November, medical and beauty regulation has been dynamic frequently, the compliance process continues to advance, and there is no more than expected information at the transaction level, which is conducive to the increase in the share of compliance agencies / compliance manufacturers / compliance products in terms of terminal consumption.
Wang Liping, an analyst at Shen Wanhongyuan, also said that starting from the end of November, optimization measures for epidemic prevention have been updated all over the country.The introduction of the "New Ten principles" marks an inflection point in the epidemic prevention policy, and consumption is expected to achieve a structural and phased recovery.. Drawing lessons from the performance of the epidemic in 2020, under the background of the slowing down of the epidemic prevention and control, and referring to the 20-year recovery cycle, the 23H1 cosmetics and beauty industry is expected to rebound strongly under the double benefits of low base and strong recovery. In particular, the strong offline concept of medical and beauty services and upstream pharmaceutical equipment and offline layout of adequate cosmetic faucets will benefit.
Related concept stocks:
Lang Zi shares (002612.SZ): the company's main operation of "Milan Baiyu", "crystal skin beauty" and "Gaosheng" three major domestic medical and beauty brands.
300896.SZ: Aimeke is one of the largest suppliers of medical fillers in China, ranking second in the field of hyaluronic acid fillers with a market share of 21.3% in 2021. The products independently developed by the company are mainly aimed at the repair of wrinkled skin on the face and neck, including the first injection material containing PVA microspheres (Baoda), the first injection material containing lidocaine (Avery / Aimefei), the first injection material used for neckline repair (hi body), a new composite injection material (Yimi one plus one) and the first domestic facial embedding thread (crush). For medical institutions of plastic surgery, cosmetic surgery, dermatology and other departments.
East China Pharmaceutical (000963.SZ): Sinclair, a wholly owned subsidiary of the company, is headquartered in the UK, has production bases in France, the Netherlands and the United States, and promotes and sells products such as long-acting microspheres for injection, hyaluronic acid and facial lifting and embedding lines in the global market.
Hao Haisheng (688366.SH): the company is the second largest manufacturer of recombinant human epidermal growth factor for external use and one of the well-known domestic manufacturers of hyaluronic acid. The clinical trials of the fourth generation of organic cross-linked hyaluronic acid products have been carried out in an orderly manner, and the painless cross-linked sodium hyaluronate gel products for injection are being registered.