Medical Gadgets & Gizmo in China
China has the one of the biggest population in the world, and quite naturally, the market for Medical Gadgets and Gizmo HAS to be big. However, the data shows that it far from being saturated. In this post we will provide some data that shows tremendous potential.
Chinese wearables market was predicted to hit 11.49 billion yuan ($1.8 billion) by last year and will grow another 47% to 16.94 billion yuan by the end of this year.
IDC predicts that smartwatch shipments will jump to 32.2 million units by the end of this year, with compound annual growth for 2015-18 coming in at 42.8%.
Apple shipped 13 million units of the Apple Watch in 2015 which is a 61.3% share of the smartwatch market.
Chinese iResearch Company produces a couple of reports that can be downloaded from their Web-site. Let us look at them
2015 China Smart Device Users Report
Young People and Men Are the Main Users
Among the smart device users, males account for 70%. As for the age structure, most of them are aged from 25 to 35, so the post 80s are the core users.
Users’ awareness degree towards smart devices remain 40% or so and the exposure degree is from 20% to 34%. Different products differ greatly in their penetration rate which is above 15% for smart home products and wearable devices and less than 10% for other products.
2015 Report of China Internet Users’ Demand For Healthcare Services
High Awareness but Low Usage Rate
81.2% of China Internet users have heard about online healthcare service, indicating that there are still about 20% of them have no idea about it.
91.9% of Internet users have not tried online healthcare services yet, showing fairly low usage rate.
Online Appointment Is the Most Popular Service
53.1% of online healthcare service users once used it to make an appointment and nearly 40% of them once inquired online. Services including inquiry of drug use information, access to healthcare information and online payment of medical bills are used by about 30% of the users. Therefore, online appointment service is highly accepted.
High Market Awareness
More than 70% of Internet users have heard about smart watch, smart bracelet, smart blood pressure meter and the like, and the awareness degree of smart watch and smart bracelet even surpasses 90%. However, people show relatively low awareness of smart watch for pregnant women which is only 64.8%.
Generally speaking, smart healthcare devices already enjoy fairly high market awareness.
Low Rate of Possession
Smart electronic scale, smart blood pressure meter and smart bracelet are owned by relatively more people. The possession rate and usage rate of smart electronic scale reaches 14.5% and 7.8% respectively.
Young People Are More Inclined to Believe the Data
50.9% of Internet users think the data collected by smart healthcare devices are credible, which is not a very large proportion.
Young people are more inclined to believe the data, since 7.6% of post 80s and 9.2% of post 90s think the data are very credible.
Nearly 80% of Internet Users Consider to Buy Smart Healthcare Devices in the Future
77.4% of China Internet users consider to buy smart healthcare devices in the future, so there is certain growth potential.
About half of the Internet users will probably buy smart healthcare devices in the future, but only less than 30% of them will certainly buy, so consumers take a wait-and-see attitude towards future adoption of these devices.
Internet Users Consider to Buy a Variety of Smart Healthcare Devices
There is certain difference in the preference of Internet users in different age ranges. Post 90s prefer smart bracelet and smart watch, while post 60s would like to buy smart blood pressure meter, smart electrocardiogram equipment and smart glucose meter.
The China Daily provides this data on the top 8 health and fitness apps to help create a healthy lifestyle
3 Minute Mindfulness
Chinese wearables market has a number of smartphone manufacturers like Huawei, Lenovo and many others launching high end smartphones with top notch features at reasonable prices.
And here are some recent news items:
- Xiaomi, dubbed as Apple of China has sold more than 70 million smartphones in year 2015 which established Xiaomi among the top brass in China, but still it has missed the target of selling 80 to 100 million smartphones that it has set for the year 2015. Xiaomi has expanded into many different segments in the past few years, including wearables. Although the company is yet to release a low-cost smartwatch, its Mi Band, which costs under $20 has turned out to be quite successful. As a result, the company has managed to make it to the top three wearable companies by shipments as well as market share for the Q3 2015.
- One of the most advertised now is No.1 S3 Smartwatch by Shenzhen Nuojiayuan Science and Technology Co.
- Changhong H1 phone is designed for 40-60-year-old user's health phone, which supports blood sugar, blood lipids, cholesterol testing, also equipped with 64 quad-core processor, 2GB RAM and 16GB ROM, the screen uses a 5-inch HD IPS screen, very suitable for home use for the elderly.
- HiSense Xinyi Smartphone launched for older users
And, finally, here are some useful links:
Image by MedGizmo