Core Insights - The Chinese medical aesthetics industry has surpassed 300 billion yuan, with the light medical aesthetics market expected to grow at a compound annual growth rate (CAGR) of over 20% in the next five years, becoming the mainstream segment by 2024 [1] - Injection projects, as the core growth engine of light medical aesthetics, have seen their market size grow from 25.7 billion yuan in 2018 to 67 billion yuan in 2023, with a CAGR of 21.1%, projected to reach 147 billion yuan by 2027 [1] - The industry faces challenges such as rapid market changes driven by consumer preferences and increasing competition, necessitating innovation in material research to build competitive barriers [1] Market Dynamics - In 2024, the market share of injection materials is projected to be approximately 36% for hyaluronic acid, 29% for botulinum toxin, 19% for collagen, and 16% for regenerative materials [3] - The competition in the hyaluronic acid market has intensified, leading to revenue declines for major companies like Huaxi Biological and Aimeike, with revenue drops of 18.36% and 21.49% respectively in the first three quarters of 2025 [3][4] - In contrast, the recombinant collagen market is rapidly growing, with a projected CAGR of 44.93%, expected to reach 58.57 billion yuan by 2025 [3] Innovation and Product Development - Companies are accelerating new product launches to capture market opportunities, with Huaxi Biological introducing compliant products for facial skin improvement and other companies like Jinbo Biological launching innovative recombinant collagen products [5] - The emergence of new materials such as alginate and hydroxyapatite is set to enrich the market supply, with several products receiving regulatory approval in 2025 [6] Regulatory Environment - The industry is experiencing a shift towards compliance, with increased regulatory scrutiny leading to a "survival of the fittest" scenario, pushing medical aesthetic institutions to accelerate compliance transformations [2] - Despite the growth in compliant products, issues such as illegal operations and counterfeit products remain prevalent, posing risks to consumer safety [11][12] Pricing and Market Structure - The supply expansion has led to a restructuring of interests within the industry, with upstream manufacturers and downstream medical institutions engaged in pricing power struggles [8][9] - New platforms like Xinyang are disrupting traditional pricing models by significantly reducing costs through digitalization and centralized procurement, indicating a shift from a seller's market to a buyer's market [9][10] Future Trends - The industry is expected to evolve towards a more transparent and competitive landscape, with a focus on product and scenario-driven strategies, comprehensive treatment solutions, and enhanced consumer awareness [10] - The ongoing regulatory efforts and market dynamics suggest that the medical aesthetics industry is moving towards a more mature and compliant operational model, emphasizing innovation and safety [14]

Core Viewpoint - The article highlights the misuse of hydroxyapatite (CaHA) in the medical beauty industry, particularly focusing on a case where a patient received an injection of a product called "Filinpril" that was not approved for facial aesthetic use, raising concerns about regulatory compliance and patient safety [1][5][12]. Summary by Sections Incident Overview - A citizen named Ms. Luo spent 50,830 yuan at Hangzhou Sidarui Medical Aesthetic Clinic for an injection of "Filinpril," which was claimed to stimulate collagen regeneration but was later found to lack the necessary qualifications for facial aesthetic injections [1][3]. Product Information - "Filinpril" is a brand under Chengdu Ruihe Pharmaceutical, developed by Sichuan Baiamon Biological Materials Co., and is registered as "hydroxyapatite biological ceramics" with a focus on bone defect repair and soft tissue enhancement [3][4]. Regulatory Actions - The Hangzhou Health Supervision Bureau has initiated an investigation into the clinic, questioning whether the use of "Filinpril" constitutes "off-label" use and highlighting the need for stricter regulations in the medical beauty sector [5][8]. Market Context - Hydroxyapatite is recognized for its biocompatibility and is used in various medical applications, including bone and dental treatments. However, its introduction into the aesthetic market has led to concerns about its application beyond approved indications [7][11]. Compliance and Industry Challenges - The article discusses the prevalence of "off-label" use of medical products in the aesthetic industry, with many products being used in ways not specified in their registration, raising compliance risks [8][13]. Regulatory Developments - Recent approvals for compliant hydroxyapatite products, such as Aphranel and Radiesse, indicate a shift towards more regulated use in aesthetic applications, yet issues of off-label use persist [12][13]. Industry Regulation Efforts - The article notes ongoing efforts by various health authorities to enhance regulatory frameworks and combat illegal practices in the medical beauty industry, including the establishment of compliance guidelines and enforcement actions against unlicensed operations [15][16].