2024年中国光子嫩肤行业概览报告：银发经济持续升温，光电抗衰医美备受关注

Industry Overview - The photorejuvenation industry in China has experienced significant growth, with the market size increasing from RMB 2.27 billion in 2019 to RMB 4.93 billion in 2023, and is projected to grow from RMB 6.22 billion in 2024 to RMB 12.0 billion by 2028 [3] - The demand for photorejuvenation services is driven by rising consumer acceptance of medical aesthetics, particularly among the aging population, as well as advancements in photoelectric technology [3] - Photorejuvenation, as a non-invasive photoelectric medical aesthetic procedure, has gained popularity due to its effectiveness in addressing skin health issues, with the number of treatments expected to increase from 5.28 million in 2023 to 11.64 million by 2028 [26] Market Dynamics - The average price of photorejuvenation services in China was RMB 934.1 in 2023, and is expected to rise to RMB 1,031.3 by 2028, driven by increased operational costs for medical aesthetic institutions and technological advancements in photorejuvenation equipment [26] - High-tier cities, particularly new first-tier cities, account for the majority of medical aesthetic consumption, with 46.2% of orders in 2022, followed by first-tier cities at 33.2% and second-tier cities at 17.0% [36] - The photorejuvenation market is characterized by diverse service offerings, with prices ranging from RMB 90 to RMB 1,000 and sales volumes between 1,500 and 8,000 units across eight major cities [36] Industry Chain Analysis - The upstream market for photorejuvenation equipment is highly fragmented, with domestic brands holding a 78% market share as of January 2023, while imported brands account for 22% [30] - Key domestic players in the upstream market include Longsheng Medical, which leads with 5 approved IPL devices, followed by Japanese company Lutronic with 3 devices [30] - Midstream medical aesthetic institutions are undergoing profitability recovery, with gross margins for representative institutions fluctuating between 40% and 60% from H1 2020 to H1 2023 [33] Competitive Landscape - The domestic photorejuvenation equipment market is highly competitive, with 59 IPL devices approved for registration as of January 2023, distributed across 51 companies [30] - Domestic brands have gained a competitive edge due to technological advancements, with the development of domestic equipment nearly synchronized with the introduction of photorejuvenation concepts [30] - The midstream market is in a period of adjustment, with the China Medical Aesthetic Industry Index reflecting a low point in capital market attention, presenting potential investment opportunities [32]