Medical aesthetics market reaches breakout point

Competition, regulation intensify amid sector's push for high-quality development

China's medical aesthetics industry is undergoing quality upgrades and embarking on the path of high-quality development, with consumers increasingly pursuing self-improvement amid intensified industry competition and heightened regulatory efforts, officials and industry experts said.

When China rolled out its reform and opening-up policies in the late 1970s, the domestic medical aesthetics industry sprouted to ride the era of liberalization, gradually evolving into a dynamic landscape characterized by rapid growth and expansion. It is now on the threshold of another new stage — high-quality development driven by medical expertise and prowess, said Li Bin, founder and chairman of BeauCare Clinics Medical Investment Group Co Ltd.

Sun Lijian, director of the Financial Research Center at Fudan University, said in an earlier interview that as the fundamentals of China's long-term sound growth remain unchanged, the current focus should be on boosting market confidence and exploring new growth drivers, where the medical aesthetics industry — a prime example of new consumption trends — has a role to play.