Summary of Key Points Core Viewpoint - The investment and financing landscape of the medical beauty injection materials industry in China is relatively mature, with a significant number of investment events and a focus on scientific research and technology services. Group 1: Financing Status - As of June 2025, there have been 39 investment events in the medical beauty injection materials industry, indicating a mature investment environment [2][4]. - The majority of financing events are concentrated in Shandong and Jiangsu provinces, with Shandong having 8 events and Jiangsu 7 events [4]. Group 2: External Investment Layout - Representative companies in the medical beauty injection materials industry have engaged in numerous external investment events, primarily focusing on scientific research and technology services, which account for approximately 58% of their investments [14][13]. - Other sectors of investment include manufacturing (18%) and wholesale and retail (8%) [14]. Group 3: Mergers and Acquisitions - The level of mergers and acquisitions in the medical beauty injection materials industry is relatively low, with notable participation from real estate companies. For instance, Lushang Development acquired 100% of Shandong Furuida Pharmaceutical Group in 2018 to enter the medical beauty sector [16].

Group 1 - The core viewpoint of the article highlights the competitive landscape of the Chinese medical beauty injection materials industry, focusing on regional distribution, market competition, and domestic substitution [1][2][5][6][8]. Group 2 - In terms of regional competition, Shandong Province has the highest number of enterprises in the medical beauty injection materials industry, including raw material producers like Huaxi Biological and equipment manufacturers like Weigao [1]. - The main competitors in the medical beauty injection materials market include Huaxi Biological, Aimeike, and Haohai Biological for hyaluronic acid products, while Jinbo Biological and Juzhi Biological lead in collagen products [2]. - The market structure for medical beauty injection materials in 2024 shows that hyaluronic acid accounts for approximately 36% and botulinum toxin for about 29% of the market [5]. Group 3 - As of May 2025, the number of domestic approvals for hyaluronic acid is comparable to imports, while domestic approvals for regenerative materials exceed imports; however, domestic approvals for botulinum toxin and collagen are lower than imports [6]. - The competition in the industry is intense, with hyaluronic acid and botulinum toxin dominating the market; foreign companies hold an advantage in the high-end market, while domestic companies like Huaxi Biological and Aimeike lead in the mid-to-low-end market through cost-effectiveness and technological innovation [8]. - The threat of substitutes is significant, with non-surgical options like phototherapy and topical skincare products capturing part of the market demand [8].

Industry Overview - The medical beauty injection materials industry in China has a limited number of publicly listed companies, primarily including Huaxi Biological, Haohai Biological, Aimeike, and Juzhi Biological, with most companies involved in the supply of upstream raw materials [1][7]. Company Summaries - Huaxi Biological is a global leader in hyaluronic acid, with a projected revenue of 53.71 billion yuan in 2024, and has expanded into collagen products through acquisitions [2][9]. - Haohai Biological has secured exclusive rights for domestic and international botulinum toxin products and is focusing on a dual product line of hyaluronic acid and botulinum toxin [6][15]. - Aimeike is expected to generate approximately 29.60 billion yuan in sales for its medical beauty injection materials in 2024, emphasizing high-end products [9][15]. - Juzhi Biological is projected to achieve sales of around 55.20 billion yuan in 2024, focusing on collagen products and leading the industry in standard-setting [9][15]. Sales and Production Data - Huaxi Biological has sold over 10 million units of its products, while Haohai Biological and Aimeike have sales around 7 million units each [13]. - Juzhi Biological's collagen products have a sales volume of approximately 55.20 billion yuan, indicating a strong market presence [11][13]. Business Strategies - Huaxi Biological is focusing on core technologies in glyco-biology and cell biology, aiming to enhance its position in the extracellular matrix and anti-aging sectors [15]. - Haohai Biological is pursuing international collaborations and technology imports to strengthen its product offerings and market competitiveness [15]. - Aimeike is developing a high-end product matrix centered on regenerative materials, with significant investments in training and technology [15]. - Juzhi Biological is leading the development of industry standards and expanding its product offerings in the collagen segment [15]. Regional Distribution - The majority of medical beauty injection material companies are concentrated in Shandong Province, with key players in raw material production and equipment manufacturing [7].

Industry Overview - The medical beauty injection products mainly include hyaluronic acid, collagen, regenerative materials, and botulinum toxin, with hyaluronic acid and collagen being classified as medical devices, while botulinum toxin is categorized as a toxic medical drug [1][2][5] Industry Chain Analysis - The upstream of the medical beauty injection materials includes raw materials and equipment manufacturing, while the midstream focuses on product research and manufacturing, and the downstream consists of sales channels such as public hospitals and private chains [2][5] Industry Development History - The Chinese medical beauty injection materials market has evolved from reliance on imports to self-innovation, with significant milestones including the approval of the first domestic hyaluronic acid filler in 2009 and the emergence of domestic leaders like Huaxi Biological, Aimeike, and Haohai Biological by 2015 [6][8] Industry Policy Background - Regulatory measures have been strengthened since 2019, with guidelines issued for the clinical trial of hyaluronic acid products and stricter management of medical beauty injection materials to enhance product quality and safety [9][11][12] Current Industry Status - The market size of China's medical beauty injection materials is projected to reach approximately 34.6 billion yuan in 2024, reflecting a year-on-year growth of 28.6% and a CAGR of 31.3% from 2021 to 2024 [14][16] Market Structure - Hyaluronic acid and botulinum toxin dominate the market, with hyaluronic acid accounting for about 36% and botulinum toxin for about 29% of the total market share [17][19] Competitive Landscape - Major competitors in the hyaluronic acid market include Huaxi Biological, Aimeike, and Haohai Biological, while the botulinum toxin market is primarily represented by Lanzhou Biological, which is currently the only domestic company with approved products [23][25] Future Industry Outlook - The medical beauty injection materials market is expected to reach 93.7 billion yuan by 2030, driven by technological advancements, compliance, and the rise of male consumers [28][30] Industry Development Trends - Key trends include the long-lasting and precise application of materials, the rise of intelligent and customized solutions, and increased regulatory scrutiny leading to higher approval thresholds for injection materials [32]