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Alice Yan

Dermal fillers – which help to reduce facial wrinkles and lines – are big business in China.
A recent HSBC report predicts that the mainland will become the world’s third largest cosmetic surgery market by 2019 owing to people’s growing wealth, and peer pressure derived from social media platforms.
In the face of fierce competition, the Hong Kong-listed Bloomage BioTechnology – the world’s biggest producer of hyaluronic acid (HA) dermal fillers and raw materials – is planning to diversify its products.
China’s cosmetic surgery market to explode in the next few years, analysts say
HA is a natural substance found in the soft connective skin tissues, cartilage and joint fluids and in fluid around the eyes, which can be extracted, reformulated and then injected as a skin filler.
Bloomage, based in Beijing, includes skin care and cosmetics giants such as Procter & Gamble, Estée Lauder, and L’Oréal among its many clients.
Spurred on by the mainland’s burgeoning cosmetic surgery market, Bloomage started to make its own HA dermal fillers in 2012 and now has a 30 per cent share of the domestic market, chief executive Jin Xuekun said.
“When we began to produce our own finished products, our annual revenue was 10 million yuan,” he told the Sunday Morning Post.
“It had increased to 200 million yuan in 2014,“ he said adding that he expected the company to see a yearly growth rate of 20 per cent over the next few years.
Beauty before age
The HSBC report said that sales in China’s cosmetic surgery market were poised to double to 800 billion yuan by 2019 – up from 400 billion yuan in 2014.
However, competition in the market has become much more cut throat than before because more companies have been attracted by the sector’s high margins.
“There are many more manufacturers and cosmetic surgery institutions providing almost the same products or services,” Jin said. “[There is] no innovation in the industry and homogenisation will definitely lead to a price slump.”
The macro economic downturn won’t stop the progress of civilisation. People are more open and accept this lifestyle. Their pursuit of beauty won’t be changed
Jin Xuekun, Bloomage chief executive
Bloomage’s strategy was to evolve from being a solo product provider to a “dermal solution provider”, he said. Besides HA filler injections, it will import photoelectric treatment equipment and also make more medical skin care products, including one to ease facial swelling after HA treatment.
All of its revenues were driven by HA-related products, Jin said, while its growth was the result of a more open society and the increased wealth of people on the mainland.
Zhao Zhenmin, secretary general of the China Association of Plastics and Aesthetics, said compared with other kinds of cosmetic surgeries, the microcosmetic surgery, including HA dermal filling, had developed quickly over the past five years.
Microcosmetic surgery will not leave wounds on people’s skins and it can be finished over a lunch time. So many people take microcosmetic surgeries once a year or every six months
Zhao Zhenmin, China Association of Plastics and Aesthetics
“Microcosmetic surgery is generally not as expensive as other surgeries, such as having breast implants,” Zhao said. “It will not leave wounds on people’s skins and it can be finished over a lunch time. So many people take microcosmetic surgeries once a year or every six months.”
More men, people in their early 20s and even the elderly were now taking advantage of the treatments, Zhao said.
To achieve its goal of “being an integrated dermal solution provider” in Asia Pacific, Bloomage has invested in French company Vivacy HA Lab, which provides high-end HA dermal fillers.
It has also agreed a joint venture with South Korean biotech company Medytox to produce Botox, a cosmetic drug used to temporarily remove wrinkles.
Last month it also signed a strategic cooperation with Israeli company Syneron Medical, a medical aesthetic device producer.
Jin said China’s slowing economy would not hit Bloomage’s growth.
“The macro economic downturn won’t stop the progress of civilisation,” he said.
“People are more open and accept this lifestyle. Their pursuit of beauty won’t be changed.”
Jin also said the weak mainland job market would lead to many people trying cosmetic surgery to help them look healthier and more confident.


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China’s Bloomage BioTechnology, world’s leading skin-filler maker, eyes smooth future

China is tipped to become the world’s third largest cosmetic surgery market by 2019. Photo: Reuters

A South Korean plastic surgeon (R) operates on a Chinese woman who wants to have double eyelids in BK Dongyang Plastic Surgery Clinic in Seoul March 23, 2009. South Korea's plunge towards recession is bringing in high-spending tourists by the planeload in search of bargains and beauty. Picture taken March 23, 2009. To match feature FINANCIAL-KOREA/WON REUTERS/Jo Yong-Hak (SOUTH KOREA SOCIETY POLITICS) - RTXDK0W

China’s cosmetic surgery market to explode in the next few years, analysts say

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A man studies share price at a bank in Hong Kong, last Friday as a global sell-off seems to be deepening in global financial markets. Photo: AP

Beauty before age

Used mostly on the upper face to correct forehead, frown and upper eye wrinkles, Botox can also be used to slim the jawline. Photo: Thinkstock

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Hong Kong-listed company to diversify products as the mainland is tipped to become third biggest international market for cosmetic surgery by 2019


China’s Bloomage BioTechnology, world’s leading skin-filler maker, eyes smooth future

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}Hong Kong-listed company to diversify products as the mainland is tipped to become third biggest international market for cosmetic surgery by 2019

Hong Kong-listed company to diversify products as the mainland is tipped to become third biggest international market for cosmetic surgery by 2019