Table of Contents
Executive Summary
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- The market
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- Figure 1: Burden on tertiary hospitals, China, 2013-17
- Companies and brands
- Players from outside the healthcare market are trying to gain more market share
- Medical device manufactures are innovating to leverage the trends for mHealth and wearables
- mHealth market still identifying profitability model
- Alibaba and Tencent compete to build their own “health domains”
- The consumer
- Proactive about personal health and even using medical devices
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- Figure 2: Percentage of consumers who have measured/tracked health data in the last 6 months, September 2018
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- Figure 3: Interest in measuring health data, September 2018
- mHealth and online consultations are becoming almost as important as offline consultations but growth is slowing
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- Figure 4: Methods used to examine or diagnose health conditions, September 2018
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- Figure 5: Top three advantages of online/phone consultation, September 2018
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- Figure 6: Top three disadvantages of online/phone consultation, September 2018
- Consumers want easier ways of managing chronic diseases and stricter rules to protect privacy
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- Figure 7: Word cloud of health tech functions which consumers want to use, September 2018
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- Figure 8: Attitudes towards concerns over health tech products, September 2018
- What we think
Issues and Insights
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- Increased demand for not only more health data but more accurate measurement
- The facts
- The implications
- Demand for combination of human experts and health tech
- The facts
- The implications
- Subscription services on social media
- The facts
- The implications
The Market – What You Need to Know
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- Consumer demand has been toward disease prevention and management
- Wearables and mHealth are future trends
Market Drivers
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- Focus of personal healthcare has shifted from “cure” to “prevention”
- Huge demand for health tech in the chronic disease market
- Tertiary hospitals encourage online consultations to optimise resources
- Big data construction in healthcare market is driving mHealth and wearables
Key Players – What You Need to Know
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- International brands have advantages in technology, while Chinese brands win in cost-efficiency
- How to be profitable is still a big challenge in mHealth
- Companies in the chronic disease management market are specializing
- Physical examination centres: popular partners for health tech companies
- Would joining in Alibaba or Tencent’s ecosystem of health market be inevitable?
Medical, Health and Fitness Device Market
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- Philips aims to become all-round expert in total wellbeing
- Omron focuses on its specialty, supercharged by wearables and big data
- Sinocare tries to increase market share by acquiring foreign enterprises and innovations in data collection
- Xiaomi enters medical device market to enhance brand loyalty
- Huawei continues innovation in smart watches and B2B services
mHealth Market
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- The potential of ‘she health’ is large but not yet realised
- Is knowledge sharing a profitable model for mHealth?
- Could insurance companies be the backup for mHealth to make money?
- “mHealth + hardware” brings success for Cloud of Wisdom
BAT in the Health Ecosystem Market
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- Baidu focuses on development of AI-powered health solutions
- Alibaba and Tencent are investing heavily in health and medical start-ups
- Alibaba leverages e-commerce business to build its health system
- Tencent: starting from wearables
The Consumer – What You Need to Know
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- Unmet needs for health tech products: measuring/tracking more complex data and analysis function
- Physical examination centre becomes the most popular place for health checks
- Low accuracy hurts growth in the online consultation market
- Lack of privacy protection causing concern over data sharing
Perceived Health Status
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- Most Chinese are confident about their health status
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- Figure 9: Health status, September 2018
- Consumers with low household income have more uncertainty about their health status
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- Figure 10: Health status, by family status, September 2018
Electronic Measuring/Tracking Health data
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- Underdeveloped market for measuring/tracking more complex health data aside from steps, menstrual cycle and weight
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- Figure 11: Percentage of consumers who have measured/tracked health data in the last 6 months, September 2018
- High blood pressure might be the biggest factor in being “unhealthy”
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- Figure 12: Percentage of consumers who have measured/tracked body index, by health status, September 2018
- Consumers are eager to listen to their health data
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- Figure 13: Interest in measuring health data, September 2018
- Post-1970s shows the least sense in health management
- Younger consumers hold strong desire for “preventing”
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- Figure 14: Interest in measuring selected health data, by generation, September 2018
- Willingness for improved health management is same regardless of income
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- Figure 15: Interest in measuring selected health data, by family status, September 2018
Health Diagnostic Methods
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- Most consumers care about their health status
- Online consultation market sees sluggish growth
- Physical examine centres surpass public hospitals as most popular place for examining or diagnosing health
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- Figure 16: Methods used to examine or diagnose health conditions, September 2018
- Consumers tend to use multiple methods to check their health
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- Figure 17: Number of types of methods used for examining or diagnosing health conditions, September 2018
- Who trusts AI?
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- Figure 18: Selected methods of examining or diagnosing health status, by age, September 2018
Perception on In-person vs Online/Phone Consultation
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- Online/phone consultation is perceived as efficient but not accurate enough
- Why not link online/phone and in-person consultation?
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- Figure 19: Comparison of advantages and disadvantages of in-person and online/phone consultation, September 2018
- Younger consumers are more doubtful of knowledge shared through online/phone consultation
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- Figure 20: Attitudes towards learning health management knowledge from online/phone vs in-person consultation, by age and gender, September 2018
Desired Health Tech Products
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- Consumers want health tech products to analyse data and provide diagnosis
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- Figure 21: Word cloud of health tech functions which consumers want to use, September 2018
- Chinese brands lead device market
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- Figure 22: Word cloud of health tech brands which consumers have used in the past 6 months, September 2018
- Top five products make up bulk of current medical device market
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- Figure 23: Top ten health tech products which consumers have used in the past 6 months, September 2018
- Male consumers’ demand for sphygmomanometers surpasses female consumers’ after age 40
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- Figure 24: Consumers who used sphygmomanometer in the last 6 months, by age and gender, September 2018
Channels of Information for Health Tech Products
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- Shopping websites/apps are important information source
- TV defeats those commercial offline channels
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- Figure 25: Channels of information for health tech products, September 2018
- Has having more channels of information made consumers more sceptical?
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- Figure 26: Number of information sources used by consumers for health tech products, September 2018
- Social channels are more likely to target higher-household-income consumers
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- Figure 27: Channels of information of health tech products, by family status, September 2018
Perceived Benefits of Health Tech
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- Basic requirement: helping consumers understand their body
- Potential in treating diseases and toning up
- First be helpful, then be cost-efficient
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- Figure 28: Attitudes towards benefits of health tech products, September 2018
- Low-household-income consumers need more encouragement
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- Figure 29: Attitudes towards benefits of health tech products, by family status, September 2018
Perceived Concerns over Health Tech
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- Biggest barrier to using health tech products could be personal data leaks
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- Figure 30: Attitudes towards concerns over health tech products, September 2018
- Consumers aged 40-49 are least open to sharing data
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- Figure 31: Percentage of consumers who are positive towards concerns over health tech products, by age, September 2018
- Consumers prefer to share positive data to shape their digital persona
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- Figure 32: Percentage of consumers who agree that “I don’t mind sharing my personal data from health teach products with others”, by health status, September 2018
- One third of consumers are not happy with functionality and usage experience
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- Figure 33: Attitudes towards functionality and usage experience of health tech products, September 2018
- Young male consumers expect more from health tech products
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- Figure 34: Percentage of consumers who agree that “current health tech products cannot meet my needs for health”, by age and gender, September 2018
Meet the Mintropolitans
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- Monitoring of steps, menstrual cycle and weight are saturated markets for Mintropolitans
- Better weight control
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- Figure 35: Percentage of consumers who have measured/tracked health data in the last 6 months, by consumer classification, September 2018
- No difference in opinions of in-person consultation
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- Figure 36: Attitudes towards in-person consultation, by consumer classification, September 2018
- Saving time is the touch point
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- Figure 37: Attitudes towards online/phone consultation, by consumer classification, September 2018
- Stronger needs for data analysis
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- Figure 38: Analysis-related health tech desired by consumers, by consumer classification, September 2018
- More open to sharing data
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- Figure 39: Attitudes towards concerns over health tech products, by consumer classification, September 2018
Appendix – Methodology and Abbreviations
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- Methodology
- Abbreviations
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