China’s online healthcare market is estimated to reach 17.7 billion yuan (US$2.61bn) with a YoY growth of 17.2% in 2018 and grow to 20.4 billion yuan (US$3bn) by 2019 according to data from iResearch. B2C medicine e-commerce contributes the largest share of the total market size (89.2% in 2017), followed by advertising revenues.
Many Chinese Internet companies attempted in the healthcare market with “big data + AI” in recent years. Alibaba concentrated on the midstream of the industry chain with cloud computing services and AI technology. Tencent invests more in application development and has built some online healthcare service interface a series of related offline services. Baidu applies AI technology in new medicine development after its strategic adjustments in the healthcare business in 2017.
Check out China’s smart speaker market insights