China Connected Healthcare Market Report 2022 to 2030

China Connected Healthcare Market Analysis

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The China-connected healthcare market is projected to grow from $5.34 Bn in 2022 to $43.25 Bn by 2030, registering a CAGR of 29.9% during the forecast period of 2022 - 2030. The main factors driving the growth would be a large and ageing population, government support, technological advancements and a rising middle class. The market is segmented by type, function and by application. Some of the major players include Tencent Health, JD Health International, WeDoctor, iCarbonX, Roche, GE Healthcare and Medtronic.

ID: IN10CNHS004 CATEGORY: Healthcare Services GEOGRAPHY: China AUTHOR: Neha Davda

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China Connected Healthcare Market Executive Summary

The China-connected healthcare market is projected to grow from $5.34 Bn in 2022 to $43.25 Bn by 2030, registering a CAGR of 29.9% during the forecast period of 2022 - 2030. China's health spending increased from 5.17% of GDP in 2018 to 5.35% in 2019. The cost of healthcare as a proportion of GDP is still lower in developing nations, where it typically varies between 10% and 15%.

In China, the connected healthcare sector is expanding and changing quickly. Numerous Chinese businesses are investing in this industry in order to address consumer demand for healthcare services as a result of the advancement of digital technologies. Early in 2020, when the COVID-19 pandemic broke out, telemedicine became more widely accepted. Online platforms were also compelled to offer a full range of services, including online diagnosis and treatment, drug sales and delivery, online payment, and services for medical insurance reimbursement. By the end of 2021, there were more than 1,900 internet hospitals operating in China, a 400% increase from the previous year.

China Connected Healthcare Market

Market Dynamics

Market Growth Drivers

The China-connected healthcare market is expected to be driven by factors such as:

Large and ageing population- China has the greatest population in the world, and its old population is expanding quickly. Demand for healthcare services is rising as a result of the changing demographics, particularly for remote monitoring and treatment
Government support- A favourable environment for the development of the connected healthcare industry has been created by the Chinese government's implementation of policies and initiatives to support healthcare reform, encourage innovation, and invest in healthcare technology
Technological advancements- The growth of digital technology and the internet have increased customer access to, affordability, and convenience with connected healthcare services
Rising middle-class- Consumers in China are becoming more health-conscious and seeking higher-quality healthcare services, especially those provided through connected healthcare platforms, as the country's middle class expands

Market Restraints

The following factors are expected to limit the growth of the connected healthcare market in China:

Large and ageing population- China has the greatest population in the world, and its old population is expanding quickly. Demand for healthcare services is rising as a result of the changing demographics, particularly for remote monitoring and treatment
Government support- A favourable environment for the development of the connected healthcare industry has been created by the Chinese government's implementation of policies and initiatives to support healthcare reform, encourage innovation, and invest in healthcare technology
Technological advancements- The growth of digital technology and the internet has increased customer access to, affordability of, and convenience with connected healthcare services
Rising middle-class- Consumers in China are becoming more health-conscious and seeking higher-quality healthcare services, especially those provided through connected healthcare platforms, as the country's middle class expands

Competitive Landscape

Key Players

Tencent Health (CHN)- It offers online health consulting, appointment scheduling, and prescription delivery services as a division of Tencent Holdings
JD Health International (CHN)- It offers online medical consultations, drug delivery, and health management services as a division of JD.com
WeDoctor (CHN)- A healthcare platform that offers services including online consultations, scheduling appointments, and delivering prescriptions
iCarbonX (CHN)- A business that offers individualised health management services using big data and artificial intelligence
Roche- A Swiss firm that provides diagnostic services in addition to developing and producing pharmaceutical products
GE Healthcare- GE Healthcare is a global healthcare corporation that provides a variety of digital health solutions, such as medical imaging and monitoring devices, as well as healthcare analytics technologies
Medtronic- Medtronic is a global medical technology business that develops connected healthcare products such as insulin pumps and pacemakers. The business also offers services for remote patient monitoring and solutions for managing healthcare data

Notable Deals

September 2022: Tencent plans to spend $41.5 Mn on a Jiangsu Yuyue Medical Equipment & Supplies Co. subsidiary, expanding its healthcare portfolio months after Beijing promised to allow more technological mergers.

Healthcare Policies and Regulatory Landscape

The National Medical Products Administration (NMPA), which is in charge of approving and regulating medical devices, pharmaceuticals, and other healthcare items, is the main regulatory organisation. The China Food and Drug Administration (CFDA) also monitors the security of food and medications. The Cybersecurity Law and the Personal Information Protection Law, both of which have ramifications for connected healthcare, are part of China's strong data privacy and security framework.

The "Healthy China 2030" strategy and the "Internet Plus Healthcare" initiative are some of the strategies the Chinese government has put into place to promote the expansion of the connected healthcare market. These regulations seek to use technology to save costs, promote access to care, and improve healthcare outcomes. Hence, there has been substantial investment in remote monitoring systems, wearables and telemedicine.

Reimbursement Scenario

In order to promote the use of connected healthcare technologies and lower healthcare expenses, the Chinese government has developed a number of reimbursement policies. The "Internet Plus Healthcare" initiative, which intends to promote the use of telemedicine and other digital healthcare technology, was launched by the National Healthcare Security Agency (NHSA) in 2018. The NHSA has created reimbursement guidelines for telemedicine consultations as part of this strategy, and these services are now protected by China's national healthcare insurance program. Similarly, under certain conditions, remote monitoring services are also eligible for compensation.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Connected Healthcare Market Segmentation

By Type (Revenue, USD Billion):

Based on the Type the market is segmented into mHealth services, mHealth Devices, and E- Prescription

MHealth services
mHealth Devices
E- Prescription

By FunctionType (Revenue, USD Billion):

Remote patient monitoring
Clinical monitoring
Telemedicine
Others (Assisted Living)

By Application Type (Revenue, USD Billion):

Diagnosis and Treatment
Monitoring Application
Wellness and Prevention
Healthcare management
Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.

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The China-connected healthcare market is projected to grow from $5.34 Bn in 2022 to $43.25 Bn by 2030, registering a CAGR of 29.9% during the forecast period of 2022 - 2030.

The China-connected healthcare market is segmented by type (m-health services, m-health devices and e-prescription), by function (remote patient monitoring, clinical monitoring, telemedicine and others), and by application type (diagnosis and treatment, monitoring application, wellness and prevention, healthcare management and others).

Some of the major players in China's connected healthcare market are Tencent Health, JD Health International, WeDoctor, iCarbonX, Roche, GE Healthcare and Medtronic.