China has become one of the fastest growing medical aesthetic service markets in the world. Being poised to become the world’s largest market in 2021, it creates attractive investment opportunities, says Eastspring Investments.
“Compared to developed countries such as the US where anti-aging treatments are more popular, younger consumers make up most of the demand in China as the mainland’s rising social media usage and booming live streaming economy have heightened the desire to look young and attractive”, says Xiang Xu, Senior Analyst, Equities, Eastspring China. “Exposure to medical aesthetic treatment at a younger age, when consumers are more prone to form entrenched habits, potentially creates a longer consumer life cycle and ongoing demand.”
Surgical aesthetic procedures account for a larger share of medical aesthetic services in China. However, the share of non-surgical aesthetic procedures – such as Botox or Hyaluronic acid (HA) injections – is expected to grow at a faster rate. While China’s HA derma filler market is dominated by foreign brands, quality domestic players are expected to gain further market share.
Read the full insight at eastspring.com/lu.