Core Viewpoint - The Chinese medical aesthetics device industry is entering a new development stage characterized by high standards, strong regulation, and genuine innovation, as evidenced by the approval of the first "Class III Medical Device" registration certificate for ultrasound aesthetic equipment by the National Medical Products Administration (NMPA) [1][2]. Industry Overview - The approval of the first "Class III Medical Device" certificate marks a significant shift in the medical aesthetics device market, moving towards a high-standard and highly regulated environment [2][4]. - The certification process for Class III medical devices is rigorous, comparable to that of implantable products like pacemakers and artificial joints, requiring comprehensive evidence across the entire product lifecycle [2][3]. Company Insights - The company, Peninsula Medical, has spent over a decade focusing on clinical needs and technology development, positioning itself as a leader in innovation and compliance within the domestic energy source medical aesthetics device sector [1][3]. - Peninsula Medical's commitment to compliance and high standards has allowed it to be one of the few companies to successfully navigate the Class III certification process, having initiated its clinical and registration applications as early as 2021 [3][8]. Market Dynamics - The introduction of the "Class III Medical Device" certificate is expected to reshape market competition and accelerate industry consolidation, with companies that obtain this certification gaining significant advantages in the market [5][12]. - The high technical barriers and market exclusivity associated with the "Class III Medical Device" certification are anticipated to drive revenue growth for certified companies, as downstream medical aesthetic institutions will prioritize products with this certification [5][12]. Technological Advancements - Peninsula Medical has made several original technological breakthroughs, including the "shadow launch technology" and "intelligent ultrasound imaging system," which enhance treatment precision and comfort [7][8]. - The company invests over 25% of its revenue into research and development, employing a large team of nearly 400 R&D personnel, which is among the highest ratios in the industry [7][8]. Global Expansion - Peninsula Medical is expanding its reach into global markets, having received FDA approval for its products and entering prestigious institutions in the United States, reflecting its transition from a domestic equipment manufacturer to a global trusted brand [11][12].

Investment Rating - The report does not explicitly provide an investment rating for the laser medical beauty service industry Core Insights - The laser medical beauty service market in China is expected to continue growing, with a projected market size increase from 37.6 billion to 62.6 billion from 2024 to 2028, reflecting a CAGR of 13.6% [8] - The demand for non-surgical medical beauty projects is increasing, particularly among younger consumers, who are driving the market towards personalized and customized services [10] - The industry is experiencing significant technological advancements, with domestic brands rapidly catching up to international competitors, leading to a shift towards standardized and professional service offerings [9][28] Market Background - Laser medical beauty services are defined as non-surgical treatments utilizing medical laser equipment for skin beautification, including functions such as anti-aging, pigmentation removal, and hair removal [5] - The market has evolved significantly since the introduction of the first ruby laser in China in 1961, with key milestones marking the development of laser medical applications [6][7] Market Status - The market size for laser medical beauty services in China grew from 2.29 billion in 2019 to 3.24 billion in 2023, with a CAGR of 9.1% [8] - The number of treatments reached 3.357 million in 2023, indicating a strong consumer interest in laser services [8] Market Competition - The competitive landscape is fragmented, with major players categorized into three tiers: top-tier brands like Crystal Skin and Rui Li, mid-tier brands like United Lige, and lower-tier brands like Milan Baiyu [13] - The evaluation of brands is based on sales volume, project coverage, and operational efficiency, with a focus on capturing consumer demand [11][12] Development Trends - The demand for light medical beauty services is leading the market, with laser technology applications expanding into new areas [26] - Technological innovation is driving service upgrades, with domestic equipment manufacturers increasingly replacing imported brands [27] - The industry is moving towards higher standards of regulation and consumer education, promoting a shift towards professional and sustainable practices [28]