Original title: an article to understand the current situation and development trend of China's medical and beauty industry industry chain in 2020 Analysis of higher profits in the upstream market: foresight
Medical cosmetology refers to the use of drugs, surgery, medical devices and other traumatic or irreversible medical techniques to repair and reshape the appearance and various parts of the human body.
Introduction to the Industrial chain of Medical and Beauty Industry
The domestic medical beauty industry started relatively late, but developed rapidly. The medical beauty market has gradually developed from a single market based on corrective treatment to a market that includes medical treatment and cosmetic appearance. The upper reaches of China's medical beauty industry chain mainly include medical beauty raw material suppliers and medical beauty equipment providers; the middle reaches include formal institutions and informal institutions, in which formal institutions mainly refer to cosmetic departments of public hospitals, large chain medical groups and small and medium-sized private medical institutions, while informal institutions refer to private clinics and beauty salons. The downstream of the medical and beauty industry are consumers, which can be divided into three categories according to their sensitivity to prices, namely, high-end consumers, middle-end consumers and price-sensitive consumers.
The gross profit margin in the upstream and downstream of China's medical and beauty industry is relatively high.
From the mid-term financial reports of the major listed companies in the upstream and downstream of China's medical and beauty industry in 2020, we can see that the gross profit margin of these enterprises is at a relatively high level, all above 40%. In addition, the gross profit margin of upstream enterprises is higher than that of downstream enterprises as a whole.AndThe gross profit margin in the first half of the year is as high as 80%. Downstream company So-young International Inc, as the first Internet medical and beauty listed company in China, So-young International Inc APP is currently the largest professional cosmetic surgery in the world.The e-commerce platform far surpassed comparable companies, Huahan plastic surgery and Ron Group, with a gross profit margin of 82% in the first half of 2020.
The level of net interest rate of upstream enterprises in China's medical and beauty industry is higher than that of downstream enterprises.
In the first half of 2020, the upstream enterprises in China's medical and beauty industryHuaxi organism、AndLove beauty guestAll achieved positive net interest rates of 33%, 25% and 33% respectively, with strong profitability. On the other hand, only Huahan plastic surgery can achieve a positive net interest rate for downstream enterprises.The net interest rates of the other two enterprises are negative and their profitability needs to be improved. The transaction volume of the medical and beauty industry mainly occurs downstream because of the restriction of the consumption scene, but the profit level of the downstream enterprises is not optimistic because of the erosion of sales expenses. On the other hand, because the upstream industry and pattern are relatively concentrated, the gross profit margin of leading enterprises is high, and it is characterized by capital-and technology-intensive industries, which requires high technology reserves, R & D support and process accumulation.With the characteristics of patent protection and examination and approval, the overall threshold and barriers of the industry are higher, so as to obtain most of the profits of the industrial chain.
The market scale of China's medical and beauty industry is increasing year by year.
Since 2012, the market scale of China's medical and beauty industry has shown a trend of increasing year by year, with the market size exceeding 100 billion yuan to 112.4 billion yuan in 2017. By 2019, the market size has increased to 176.9 billion yuan, an increase over the same period last year.The growth rate slowed to 22.2%.
The supervision of China's medical and beauty industry becomes stricter, and the policy is gradually improved.
Due to the relatively high number of illegal institutions, the scarcity of cosmetologists and the flooding of parallel products in the market, China's medical and beauty industry has caused more medical and cosmetic accidents and reduced consumer trust. According to iResearch statistics, formal medical and beauty injections account for less than 50% of the market, full of parallel imports and fake goods. Industry since 2014Supervision is more stringent, and relevant government departments strictly crack down on black medicine and beauty, and rectify the chaos of the industry; at present, the industry is in the process of continuous standardized development, and the products of regular manufacturers are expected to squeeze illegal products and optimize the competition pattern.
Analysis on the trend of Medical and Beauty Industry in China
Due to the COVID-19 epidemic in 2020, the development of China's medical and beauty industry will be slightly affected, and the growth rate of the trial scale will decline sharply. But in the next five years, with the increase in the demand for medical beauty of Chinese women,With the technological progress of medical beauty, the gradual improvement of policies and the improvement of people's consumption level, China's medical beauty penetration rate is expected to increase, and the market will gradually pick up. It is estimated that the market size of China's medical beauty industry will exceed 400 billion yuan in 2025.