Chinese aesthetic medicine industry expected to grow by 5.7% in 2020

Frost & Sullivan, an internationally renowned research institution, released the latest data on Chinese medical aesthetic service market.

Frost & Sullivan, an internationally renowned research institution, released the latest data on Chinese medical aesthetic service market, which expected the overall growth rate of the aesthetic medicine industry in China to narrow sharply to 5.7% in 2020, due to the outbreak of the COVID-19, a drop of 13 percentage points from 2019.

The total revenue from the aesthetic medicine industry in 2020 is expected to be 151.8 billion yuan, according to the data.

With the annual compound growth rate from 2015 to 2019 averaging 22.5%, the industry revenue is expected to reach 318.5 billion yuan by 2024.

The annual compound growth rate from 2019 to 2024 is expected to fall by 5 percentage points to 17.3%.

Affected by the coronavirus epidemic, the expected industry growth rate for Chinese medical aesthetic market in 2020 has shrunk to only 5.7%, which is far lower than the 18% growth rate in 2019.

Disclaimer: This is an article created by Michael Liang for Chinasdg.org. You can find the original article here: https://chinasdg.org/2020/08/06/chinese-aesthetic-medicine-industry-expected-to-grow-by-5-7-in-2020/.

Leave a Reply

Please Login to Comment