SHANGHAI, Jan. 18, 2021 /PRNewswire/ -- On May 19, the iResearch Services, a firm of data research, released the White Paper on Insights into the Chinese Aesthetic Medicine Industry in 2020 (hereinafter referred to as the "White Paper"). According to the document, China's aesthetic medicine market size reached 176.9 billion yuan in 2019 with a slow rate of growth, compared with the numbers collected in 2013 to 2017 that are periods with booming demands for cosmetic procedures.
All kinds of data suggest that, new directions of adjustment and points of focus have emerged on both sides of the supply and demand with gradual expansion of the industry in recent years; under the current complicated economic landscape after COVID-19 pandemic, the aesthetic medicine industry has entered a new stage of development and triggered an in-depth reflection and deliberation.
It is highly likely most ineligible businesses of aesthetic medicine will be knocked out in the phase of adjustment.
The White Paper pointed out that, in addition to factors such as reduced profitability and unbalanced supply and demand faced by various kinds of enterprises in this field, the main reasons for the slowdown in market growth include the chaotic and counterfeit qualifications of firms and doctors engaged in the aesthetic medicine, as well as frequent accidents of cosmetic procedures that result in the wait-and-see attitudes of consumers. In this report, there are several jaw-dropping numbers: At present, businesses and surgeons with legitimate certificates account for only 14% and 28% of the industry respectively, while the rate of certified injections commercially available in the market just reaches 33.3%.
Confronted with the current chaos in the industry, the government and the industry have enacted a series of crackdown measures. In April, eight departments including the National Health Commission jointly issued the Notice on Further Strengthening the Comprehensive Supervision and Enforcement of Aesthetic Medicine Industry. On May 21, the health.people.cn held a seminar on the self-discipline and standardization of Chinese aesthetic medicine industry under the initiative of "Healthy Chinese" in response to the call of the National People's Congress and Chinese People's Political Consultative Conference (NPC and CPPCC). At the seminar, the Chinese Association of Plastics and Aesthetics and the SoYoung.com called on the self-discipline of the industry in China.
Under the dual impact of the epidemic and the industry adjustment, it is highly probable that the unqualified and undifferentiated institutions of aesthetic medicine will be knocked out. Those businesses that stood the test can not only establish an all-around standard and system of risk control with medical care as the essence, but also possess the customer needs-oriented product offerings with commerce at the core, and ultimately realizing the transformation of crisis into opportunities and the sustainable development.
ZhenMeiHui has created a "closed-loop" business model of aesthetic medicine and assured customers with safety measures in multiple fronts.
A truly healthy industry of aesthetic medicine should first and foremost ensure the safety of consumers. However, according to statistics from the Chinese Association of Plastics and Aesthetics, on average over 20,000 complaint records of disfigurement are caused by cosmetic procedures annually. Such a massive amount of negative information has brought irreparable losses to the reputation of the entire industry. The White Paper analyzes the hidden dangers in the industry, and finds that major problems are concentrated in the following areas: 1). Unqualified doctors. The unlicensed practice of ineligible doctors frequently turned the "journeys of acquiring a pretty look" to "adventures." 2). Inundation of fake and inferior medicines. The counterfeit botulinum toxin and hyaluronic acid used in the cosmetic procedures, among others, jeopardize the safety and health of consumers at all times; 3). Abnormal sales increase under the marketing orientation. In the face of high costs of customer acquisition and retention, some enterprises in this field often guided each accessible user to purchase cosmetic procedures that exceed their actual needs. Such foul acts have also contributed to the ever younger recipients of cosmetic procedures in recent years.
It can be concluded from the aforesaid three points, rising costs in various links such as human resources, products and operating costs under the conventional business model is the deep-seated cause of frequent chaos. Therefore, business model innovation is a fundamental approach to truly solve safety issues.
The ZhenMeiHui Speciality noted in the industry for its absence of customer complaints, has now achieved the innovation of a closed-loop business model. As a franchised speciality brand of premium medical care and rejuvenation owned by the Shanghai Oubang Medical Group, a well-known enterprise of aesthetic medicine driven by technology, ZhenMeiHui has attracted wide attention with a mix of genuinely advanced technologies and products. Its senior experts have been focused on the creation of effective and professional technologies for over two decades and have constantly updated them. This brand has applied for and obtained 15 national patents, including the proprietary "Oubang ZhenMeiHui Nutritional Compound Solution," and "Oubang ZhenMeiHui Syringe" that have been put into use. The ZhenMeiHui Speciality has been well received in the market and become a reliable choice among users thanks to the unified and transparent prices and the complete closed-loop supply of these products. As one of the few businesses of aesthetic medicine that owns the core technologies, specialist training regime, independent products, and chain hospitals concurrently, ZhenMeiHui stands at the forefront of the industry.
The rejuvenation procedure has become a new growth point for the industry of aesthetic medicine.
In addition to the compelling safety issues, the data in this report also reveal a new Industry trend: Around 70% of users of aesthetic medicine have purchased skin care procedures, many of which are rejuvenation.
Since the consumers' demand for rejuvenation surged 92.64% last year, the "anti-aging" concept has been sought after by the industry. A growing number of medium and high-end cosmetic brands have entered the anti-aging field, and launched a series of products against the senile and presenile signs. A large number of institutions have also introduced the rejuvenation procedures such as the Thermage that has become the first choice for those in pursuit for a fairer and younger look. From the perspective of development trends, the rejuvenation procedure is likely to replace the plastic surgery or injections and to become the mainstream of the industry in the future. Meanwhile how to achieve the plastic surgery-like effect with the anti-aging procedure has become a crucial topic.
In the face of consumers' growing demands for rejuvenation, Maggie Cui, the founder of ZhenMeiHui brand, believes that, "Anti-aging is not just about rendering a younger skin, but finding a rational approach of aesthetics that is consistent with customers' actual condition and can ensure their safety as well."
The team of doctors led by the president Cui discovered after years of research that, by stimulating the body's self-healing strength, human beings are able to effectively prevail over a variety of diseases, and the self-healing strength is a powerful weapon against aging. With the joint efforts of the team, the ZhenMeiHui Minimally Invasive and Self-healing Technology came into being. Since the development of the brand, the technology has been updated four times and has helped many consumers in pursuit of prettier looks address aging issues such as wrinkles, lines, as well as skin depressions, looseness, and prolapse in a more secure and rapid manner.
With the ZhenMeiHui Minimally Invasive and Self-healing Rejuvenation Technology, the population aged 60 or older may stand a good chance of retaining a young and fair look, which might not be a day dream.
As Warren Buffett once said, "Only when the tide goes out do you discover who's been swimming naked." As the bubbles in the once highly-touted market of aesthetic medicine burst, the crux lies in how to stand out with the rational approach and the proven strength.
Since quite a few people rely on the industry of aesthetic medicine to materialize their expectation for a fairer and younger look, it is important to emphasize the "medical nature" of the industry all the time and to properly address the unique requirements of each consumer. We believe that after a short period of adjustment, more benevolent brands focused on technologies like ZhenMeiHui will emerge and a more sound industrial ecology of development will gradually take shape.
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