The digital health industry has grown rapidly in recent years and has shown great potential for growth.
In recent years, thanks to technological development, increased social demand and policy support, China's digital health industry has entered a new stage, innovating business models such as digital health insurance and health management, and the transformation from Internet medical to digital medical has become an industry development trend. Analysts pointed out that under policy guidance, technical support and regulatory protection, China's digital health industry is expected to usher in broader development prospects.
China's health and elderly care industry is not yet full
Source: Edited by the Head Leopard Research Institute
At the same time, China's elderly population has high requirements for the quantity and quality of elderly care services, and digital health care, with its advantages of convenience, accuracy and personalized health management, can meet diversified health needs, fill the market gap, and improve the professionalism and response speed of elderly care services. The growth potential of the healthcare and elderly care market provides development opportunities for the digital health industry, which needs to keep up with the times and contribute to the realization of the "Healthy China" strategy.
According to public data, the scale of China's digital health market reached 467.43 billion yuan in 2021, a significant increase from 324.58 billion yuan in 2017, and the market is expected to continue to grow rapidly in the future, showing the strong development momentum of the industry. However, the digitalization process in the healthcare sector has a low market penetration rate compared to other fields, which means that the digital health industry has huge growth potential in the future.
The size and growth rate of China's digital health market
Source: Edited by the Head Leopard Research Institute
Ping An Health (1833. HK, stock name: Ping An Good Doctor) managed-care model to establish a comprehensive health management service system based on the characteristics of the Chinese market and consumer needs. These strategies have driven business growth, enabled Ping An Health to lead the market competition, and demonstrated great potential in both F-end and B-end businesses.
Ping An Health's main operating data, 2022-2023
Source: Edited by Ping An Health and Head Leopard Research Institute
Ping An Health adheres to the managed care model with Chinese characteristics, and launches family doctor and elderly care butler services to improve user satisfaction and establish market competitive advantage through personalized health management. This model provides high-quality medical services at a low cost through resource integration and cost control, and enhances market competitiveness. The core services build a stable customer base, drive revenue growth, and are highly aligned with the healthcare and elderly care needs of the Chinese market, supporting the Healthy China strategy. Overall, Ping An Health's business model has established a differentiated advantage in the enterprise health management market through comprehensive professional services and customized solutions.
Ping An Health has established a strong payer base by leveraging Ping An Group's customer resources and business scenarios, and the breadth and convenience of services have improved user stickiness and ensured the company's stable revenue and market competitiveness. In the field of digital healthcare, the company has improved service efficiency and customer experience through informatization, digitalization and AI technology.
As an industry leader, Ping An Health fully empowers the whole process of life and health through four directions: empowering medical care, empowering physical examination, and empowering chronic disease services.
In terms of empowering medical care, Ping An Health has independently developed an AI-based assisted diagnosis and treatment system, which can diagnose more than 2,000 diseases, with an accuracy rate of over 99% for guidance and over 95% for auxiliary diagnosis. The company's "artificial intelligence + healthcare" now covers about 36,000 diseases, 420,000 disease terms, 30 million literatures and 20,000 clinical guidelines, and updates 10,000 pieces of medical knowledge every day.
In terms of empowering physical examination, Ping An Health has established the "Digital Intelligence Physical Examination Research Institute" based on strong AI capabilities, deeply engaged in field research, and provided enterprises with "1+N+X" professional customized physical examination service solutions. The company also provides users with comprehensive health management services through intelligent interpretation of physical examination reports and medical knowledge graphs.
In terms of empowering chronic disease services, Ping An Health provides users with personalized chronic disease management solutions to help them develop healthy habits and reduce the potential risk of disease. According to reports, AI health managers assist in providing chronic disease management services, and the application in disease risk assessment and exercise plan formulation has greatly improved the efficiency of chronic disease management and user compliance, and increased the management efficiency by 5 times.
In the field of normalized prevention and control of infectious diseases, Ping An Health has cooperated with relevant medical departments to use big data and artificial intelligence to help monitor and early warning infectious diseases, and establish models to achieve auxiliary diagnosis of infectious diseases, which has played a great role in normalized epidemic prevention and control.
Industry insiders pointed out that Ping An Health occupies a leading position in the field of digital health with its advantages such as brand influence, user scale, technical strength, innovation ability and rich medical resources. The company implements Strategy 2.0 and builds a closed-loop system with full scenarios and full services, highlighting its core competitiveness and long-term value.
Looking ahead, Ping An Health said that the company will continue to deepen its efforts in technology empowerment and service model innovation, and is expected to further consolidate its leading position in the digital healthcare industry and become the preferred target for long-term value investment.