以下文章来源于盐财经 ，作者乔悦 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 本文来自微信公众号： 盐财经 ，作者：乔悦、钟宸（实习生），编辑：江江，题图来自：AI生成 高考结束的第二天，18岁的楚瑜走进了一家私立整形医院。她穿着灰白色手术服，躺在手术台上， 麻药的针头扎进眼皮时，她痛得浑身发抖，每只眼睛各打3针，一共6针。 "当时痛得我在床上都崩溃了。"她回忆道。她割的是开扇形双眼皮，这是她念叨了好几年的事。 随着医美年龄的下沉，谁在重塑那些年轻人对"美"的定义？谁又重塑了那些年轻人？ 一、爱刷美女视频 楚瑜自认为遗传了爸妈所有的缺点。爸爸是单眼皮，还有些龅牙，妈妈则是下颌前突的"地包天"。到 她这里，就成了单眼皮、龅牙加地包天的组合。虽然从小被同学调侃，但她的"超绝钝感力"在某种程 度上保护了她。 楚瑜天生内双，远看几乎像单眼皮。从初中开始，她就对自己的眼睛不满意。每次拍照，朋友都会让 她把眼睛睁大点，"但其实我的眼睛已经睁到最大了"。家里人偶尔也会说她"眼睛小"，不像妈妈那样 有双大眼睛。这些话像针一样藏在心底，她反复翻看照片，发现自己的眼睛笑起来只有一条缝，"不 像别人那样有精神"。 ...

持续报名中：2025第三届中国整形外科创新转化大赛 验证中心项目启动会 | 动物实验与创业 | 医疗器械创新（广州） | 医美行业交流（苏州） | 医美行业交流 （上海）| 化妆品原料研讨（广州） | 药用植物与美容 | 家用美容仪 ｜ 医美新材料：琼脂糖&羟基磷灰 石 | 医美光电设备交流：国产超声刀、热玛吉 ｜注射类医美投资趋势与市场机遇 ｜ 医美疤痕修复产品 与创新趋势交流会 成果路演：八大处整形医院专场推介项目大全 第二届八大处整形美容产业论坛 | 第二届整形外科创新转化大赛 | 医美投资分论坛 | 注册与申报分论坛 | 临床研究分论坛 皮肤作为人体最大的器官，在创伤、慢性病与医疗美容等多种情境中，其修复效率 始终是 临床与工程交叉研究 的重点。近年来， 外泌体与水凝胶 的结合，正在成为 促进皮肤组织再生与精准修复的关键技术路径。 外泌体 具备良好的生物活性与信号调控功能， 水凝胶 则以其高度的生物相容性与 可控递送能力，成为理想的 "智能载体" 。这两类技术的融合，正为 慢性创面、术 后修复、医美损伤干预 等应用场景带来新的材料解决方案。 本次活动，我们特别邀请在该方向深耕多年的 北京航空航天大学医 ...

Investment Rating - The report rates the beauty and personal care industry as "Positive" for investment [3]. Core Insights - The beauty and personal care sector has shown strong performance, with a cumulative increase of 6.90% as of June 2025, outperforming the market by 6.87 percentage points [7]. - The industry is entering a stable development phase, with performance differentiation among companies. Leading firms like Proya and Marubi are achieving steady growth, while emerging material companies like Jinbo Bio and Juzi Bio are experiencing rapid growth [9]. - The cosmetics market is maturing, with a slight decline in market size expected in 2024, projected at 774.645 billion yuan, down 2.83% year-on-year [19]. Summary by Sections Market Review - The beauty and personal care sector has shown a strong performance, with the beauty care segment outperforming the market [7][9]. - The cosmetics market is transitioning to a stable growth phase, with a strong siphoning effect observed during major shopping events like "618" and "Double Eleven" [18]. Cosmetics - The cosmetics market is experiencing a stable growth phase, with a year-on-year increase of 4.1% in the first five months of 2025, compared to a decline of 1.1% in 2024 [18]. - The market size for cosmetics is projected to be 774.645 billion yuan in 2024, reflecting a slight decline from previous years [19]. - Domestic brands are gaining market share, with the market share of domestic products reaching 55.7% in 2024 [45]. Medical Aesthetics - The non-surgical medical aesthetics market is growing rapidly due to its safety and ease of operation, with a projected compound annual growth rate (CAGR) of 15%-20% over the next five years [55]. - The market for collagen products is expected to reach 58.57 billion yuan by 2025, with significant growth anticipated in the coming years [65]. Personal Care - The personal care segment has shown strong growth, driven by new consumer trends and increased awareness of personal health care [91]. - The online penetration rate for personal care products is currently low, indicating significant growth potential in e-commerce [97].

Core Insights - The medical beauty sector is witnessing an influx of new players, with pharmaceutical companies and beauty brands aggressively entering the market, indicating a significant industry transformation driven by consumer demand and technological advancements [2][3][5]. Group 1: Market Dynamics - Major pharmaceutical companies, including China National Pharmaceutical Group, Shanghai Pharmaceuticals, and China Resources Pharmaceutical, are entering the medical beauty market, establishing comprehensive collaborations in research, production, and distribution [3][5]. - The medical beauty market in China is projected to reach a scale of 638.2 billion yuan by 2030, with a compound annual growth rate (CAGR) of 14.5% from 2021 to 2030 [6][7]. Group 2: Company Strategies - Jiuzhoutong, a leading pharmaceutical distributor, has successfully expanded its medical beauty segment, reporting a sales revenue of 851 million yuan in 2024, a significant increase of 120.47% year-on-year [7]. - Beauty companies are increasingly focusing on "medical device" products, which require regulatory approval and are perceived to have higher consumer willingness to pay, as evidenced by the introduction of medical dressings and other related products [8][10]. Group 3: Competitive Landscape - The competition in the beauty sector is intensifying, with companies exploring various strategies such as mergers and acquisitions, technological extensions, brand crossovers, channel integration, and collaborative research with medical institutions [10][11]. - The entry of beauty brands into the medical beauty space is seen as a strategic move to capture new growth opportunities amid fierce competition in traditional beauty products [10][11].

【导读】药企抢滩医美赛道，美妆企业展开 " 械字号 " 竞争，行业变革的关键时刻或将到来 中国基金报记者 赵心怡 医美领域不断有新玩家 " 上桌 " 。 一边是药圈大佬加速 " 跑马圈地 " ，一边是产业资本高歌猛进。农夫山泉的老板钟睒睒甚至 豪掷 34 亿元入局锦波生物。 美护企业也从 " 卷营销 "" 卷科技 " ，进化到 " 卷字号 "—— 没有 " 械字号 " 产品，仿佛 站在掉队边缘。 不同势力相继入局，欲要搅动风云。 " 这说明产业边界正在消费升级和技术革命下重构。未 来能胜出的企业，或要兼具医疗级研发深度、消费市场的敏捷度和全链路整合能力，谁融合 得最彻底，谁就能定义新规则。 " 某头部券商分析师说。 巨头加速抢滩 近期，华润医药与 " 玻尿酸三巨头 " 之一昊海生科在医美领域携手，构建 " 研发 - 生产 - 渠道 " 的全链路合作。至此，四大医药流通巨头 —— 国药、上海医药、华润医药、九州 通，均已迈入医美圈。 四大医药流通巨头中，最早看准医美赛道的是九州通。 2016 年，九州通通过投资爱美客切 入医美赛道，后续又与巨子生物、薇诺娜等进行合作，成功占据了相关市场的有利位置。年 报显示， ...

以下文章来源于并购最前线 ，作者吴琼 并购最前线 . 投资界（PEdaily.cn）旗下，专注并购动态 这笔收购筹划已久。 欢迎加入投资界读者群 「并购最前线」系投资界旗下专注并购动态报道公众号，欢迎关注！ 颜值经济。 作者 I 吴琼 报道 I 投资界-并购最前线 投 资 界 获 悉 ， 近 日 爱 美 客 发 布 公 告 ， 公 司 已 控 股 韩 国 公 司 REGEN Bi o t e c h,I nc . （ 简 称"REGEN"），并已将其纳入公司合并报表范围。此前，爱美客通过控股子公司爱美客 国际收购REGEN85%的股权，交易价格为1.9 0亿美元（折合人民币约13.86亿元）。 此次被收购方REGEN，旗下产品艾塑菲在医美圈颇受欢迎，被外界称为"童颜针"，尽管 一支针剂上万元，却依然让众多爱美人士趋之若鹜。2 024年 正式 在国内上市销售，仅 两个月便卖出约两万支。 而 买 方 爱 美 客 ， 早 年 间 在 创 始 人 简 军 的 带 领 下 ， 以 玻 尿 酸 起 家 ， 如 今 也 看 上 了 这 门 生 意。 玻尿酸女王操刀 14亿买下"童颜针" 今年3月，爱美客发布公告，收购韩国R ...

医美消费趋势解读 20250707 摘要 新氧作为医美电商先驱，曾占据医美 APP 市场 86%份额，但面临互联 网竞争加剧和获客成本上升的挑战，导致收入和利润受影响。公司通过 布局上游供应链和进军下游医美机构运营领域寻求反转。 新氧通过并购奇致激光和代理艾拉斯提等方式布局供应链，参与上游溢 价分成，并发布新氧青春诊所品牌进入下游医美机构运营，截至 2025 年上半年已开设 32 家门店，总营收达 1.7 亿元。 新氧青春诊所快速扩张，主要分布在一线和省会城市，如北京、深圳、 上海和广州。其盈利模型已跑通，L Mall 门店月收入可达 400 至 500 万元，销售费用率低于传统医美门店，净利率优于传统零售业态。 新氧青春诊所依赖线上品牌资产实现流量变现，复购率达 60%，老带新 比例 50%，自然流量占 15%。未来计划将门店数拓展到 50 家，下半年 净新增 18 家，以提升开店速度与规模。 新氧通过追溯医生资质和公开透明的价格体系确保医美服务质量和价格 透明度，门店内同类产品价格至少便宜 30%到 40%，质价比高且合规 的医美服务是吸引流量的重要入口。 Q&A 医美行业近年来的发展趋势如何？新氧在其中 ...

Core Viewpoint - The beauty industry is increasingly entering the medical aesthetics channel, with over 20 beauty brands adopting a dual beauty strategy of "medical aesthetics + beauty" to enhance their market presence and professional credibility [2][6][30]. Group 1: Market Overview - The medical aesthetics market in China is experiencing strong growth, with 18,584 compliant specialized medical aesthetics institutions reported as of January 2024 [6][7]. - The main active regions for medical aesthetics consumption are concentrated in the Pearl River Delta, Yangtze River Delta, and Chengdu-Chongqing areas [7][8]. Group 2: Industry Structure - Medical aesthetics institutions can be categorized into three types: public hospitals, large chain private hospitals, and small private hospitals and clinics [4][5]. - The development of the domestic medical aesthetics industry has gone through three main stages: initiation (1994-2000), gradual standardization (2000-2010), and rapid development (2010-present) [5]. Group 3: Brand Strategies - Many beauty companies have established significant medical aesthetics channel layouts, such as Huaxi Biological covering 7,000 medical institutions and Juzhi Biological entering approximately 1,700 public hospitals and 3,000 private hospitals and clinics [8][10]. - International beauty brands are also accelerating their medical aesthetics channel expansion, with brands like SkinCeuticals and Estée Lauder entering high-end medical aesthetics lines [10][12]. Group 4: Consumer Trends - There is a growing consumer demand for effective skincare solutions that combine beauty products with medical treatments, reflecting a trend towards the integration of lifestyle beauty and medical aesthetics [17][20]. - Consumers are increasingly seeking products with professional medical backing and comprehensive management solutions from pre-operative care to post-operative recovery [18][20]. Group 5: Challenges and Opportunities - Despite the initial success of some brands in the medical aesthetics channel, challenges remain, including product quality inconsistency and the need for effective consumer education [16][18][20]. - The dual beauty model is becoming a significant trend, with medical aesthetics companies also venturing into lifestyle beauty, leveraging their technical expertise and clinical data [22][23]. Group 6: Future Outlook - The competition in the medical aesthetics channel is expected to intensify, with beauty brands needing to establish unique advantages through solid technical research and deep medical collaboration [29][30]. - The future winners in this space will be those who can embed "professional trust" in the medical aesthetics channel and leverage "real clinical value" to gain endorsements from both doctors and consumers [30].

Group 1 - The core viewpoint of the news is the significant interest in the Yiwu Global Digital Trade Center, with over 19,000 companies registering for participation in the second round of recruitment for the baby and skincare industries, indicating a competitive environment for the approximately 900 available stalls [1][2] - The Yiwu Global Digital Trade Center is seen as an accelerator for digital trade, providing a platform for brands to enhance their global recognition and influence, as highlighted by the founder of Senziwu Crafts [1][2] - The center is positioned as a strategic response to the restructuring of global commercial logic through digital trade, serving as a super hub linking global supply chains and consumer ends, as stated by the CEO of Guangzhou Xuelai Cosmetics [2] Group 2 - The Yiwu Global Digital Trade Center is part of the sixth generation of markets in Yiwu, with a planned investment of 8.321 billion yuan to develop a digital economy ecosystem and infrastructure within the small commodity trade [3] - The market segment of the Yiwu Global Digital Trade Center is expected to open in October 2023, with future recruitment planned for various industries including baby products, travel goods, health care products, drones, and AI equipment [3]

作者 | 乔悦 钟宸（实习生） 编辑 | 江江 视觉 | 诺言 高考结束的第二天，18岁的楚瑜走进了一家私立整形医院。她穿着灰白色手术服，躺在手术台上，麻药 的针头扎进眼皮时，她痛得浑身发抖，每只眼睛各打3针，一共6针。 "当时痛得我在床上都崩溃了。"她回忆道。她割的是开扇形双眼皮，这是她念叨了好几年的事。 楚瑜提前在网上刷了几百条整形攻略，看了几千张整形博主晒出的前后对比图，也对着镜子比画了上万 次。所以等到手术那天，咨询医生几句话就说服了她，"她说她的双眼皮也是我的主刀医生做的，给我 看了前后对比图，做得还挺好"，楚瑜心动了，一旁陪同的母亲也同意当场手术。 一个小时后，楚瑜从手术室走出来，一条黑色的线贯穿眼皮，伤口还在微微渗血。这是她人生中的第一 次手术，她也成了最早一批完成整形的高考毕业生。 根据中研普华产业研究院的数据，2025年中国医美市场预计规模将达到3500亿至4000亿元， 其中，Z世 代（1995年后出生）贡献了62%的消费份额，年均支出达2.8万元，远高于"80后"群体。 中国医疗美容市场规模与增速预测 医美市场的需求迅速攀升，甚至成就了以华熙生物、爱美客和昊海生科为代表的"医美三剑客"的 ...