The prospect of big health industry

Medical and health service is the main market segment of big health.

China is a big medical country, and its medical and health expenditure is huge and growing steadily. In 20 19, China's total medical and health expenditure ranked second in the world, reaching 6520 billion yuan in 20 19.

China's big health market is an important part of the medical and health industry, including products and services related to maintaining, restoring and enhancing health. It mainly includes five branches: (1) drug retail; (2) Retail of non-pharmaceutical health care products; (3) Medical and health services; (4) Consumption of medical and health services; (5) medical and health infrastructure. In 20 19, the market scale of big health industry in China reached 81310 billion yuan.

In 20 19, in the big health market segment, the market size of medical and health services was 4,543 billion yuan, accounting for more than 50% of the market; The scale of pharmaceutical retail market is 654.38+063.3 billion yuan, accounting for 20.06%.

Digital technology changes the big health industry

The progress and accessibility of digital technologies such as big data, cloud storage and artificial intelligence have fundamentally changed the way health products and services are provided. The digital health market mainly includes online retail pharmacies, online consultation, online consumer medical health and digital medical health infrastructure.

At present, the medical and health industry in China is still in the primary stage of digitalization. In 20 19, only 2.4% of drugs in China were distributed through off-campus online retail pharmacies. Similarly, in 20 19, online consultation accounted for 6.0% of the total national consultation volume. In addition, in 20 19, the scale of China's digital big health market was 21800 million yuan, and the digital proportion of the big health market accounted for 3.3% of China's total medical and health expenditure.

In the digital health market in 20 19, online retail pharmacies and digital health infrastructure market are the main forces, and their market scales are 21800 million yuan and 105 billion yuan respectively, accounting for 48. 17% and 27.98% respectively.

Multiple factors promote the development of digital health market

The change of medical health market provides opportunities for the development of digital health market;

Expand the outflow of prescription drugs. Prescription outflow is an important new trend in the medical and health industry. The scale of off-campus sales has increased year by year. In 20 19, the scale of off-site sales and off-site sales in China pharmaceutical market reached 48 10 billion yuan and 39 billion yuan respectively.

In recent years, the proportion of online channel sales of pharmaceutical products in out-of-hospital channels has been increasing. It is estimated that the outflow of prescriptions will be gradually promoted in the next five to 10 years. Hospitals and pharmacies near primary medical institutions that have been linked to basic medical insurance are expected to benefit from this trend in the short term; However, platforms with a large number of SKUs, strong supply chain capabilities and prescription circulation capabilities are expected to become long-term beneficiaries.

The increasingly perfect medical and health payment system. It is predicted that by 2030, the payment structure of medical and health expenditure in China will be more balanced among basic medical insurance, commercial insurance and self-funded insurance. The implementation of online payment for basic medical insurance projects is beneficial to the development of online consultation, because it serves as the entrance to connect hospitals and prescription flow, thus increasing the user base. A platform with brand awareness, technological advantages and service network advantages will become the leader in docking with basic medical insurance. Commercial insurance pays attention to the user experience for a long time, and the platform with strong service ability and dense network can fully develop in-depth cooperation with it. In addition, digital platforms have attracted a large number of self-funded users in the past. Looking ahead, it is expected that such users will continue to give priority to platforms with brand awareness, trust and excellent user experience.

The digital health market segment is booming.

The policy framework and technological changes of "Internet+medical health" have promoted the vigorous development of online retail pharmacy market in China. In 20 19, the market size of online retail pharmacies in China increased to10.5 billion yuan, with a compound annual growth rate of 23.7% from 20 15 to 20 19.

In 20 19, the market size of online consulting industry in China was 9 billion yuan. Online consultation generally covers consultation and prescription update, follow-up, hospital appointment and chronic disease management. The epidemic situation of coronavirus pneumonia-19 not only improved the awareness of health care, but also increased the acceptance of services, thus making consumers form the habit of using online consultation for a long time. Coupled with the supportive policy environment that is expected to further standardize services, online consultation will become more efficient, reliable and high-quality.

-For more data, please refer to the Analysis Report on Market Prospects and Investment Opportunities of Big Health Industry in China by Prospective Industry Research Institute.