According to the latest "2023 China Smart Health Device Industry Research Report" released by iResearch Consulting, the market size of China's smart health devices reached 68.7 billion yuan in 2023, a year-on-year increase of 42% compared to 2022, setting a new high in nearly five years. This data fully indicates that China's health technology industry is entering a period of explosive growth. Among them, the sales performance of home monitoring devices is particularly outstanding, breaking through 80 million units, a 57% increase over the previous year, becoming the main driving force for market growth.
From the perspective of market development background, in recent years, with the rapid development of China's economy and society, people's living standards have continuously improved, and health awareness has increasingly strengthened. The deep implementation of the "Healthy China" strategy has further promoted the whole society's attention to health issues. At the same time, factors such as accelerated population aging and rising chronic disease incidence have also provided broad space for the development of the smart health device market.
In the segmented categories, the market penetration rate of smart wristbands has reached 28%, becoming one of the most popular smart health devices. Smart wristbands are favored by a wide range of consumers due to their compact and portable design, diverse functions, and affordable prices. They can not only monitor basic health data such as heart rate, steps, and sleep but also provide exercise guidance and message reminders, meeting people's daily health management and convenience needs.
The market performance of ambulatory blood pressure monitors is also very outstanding, with a year-on-year growth of 63%. Hypertension is one of the most common chronic diseases in China and poses a great threat to human health. Ambulatory blood pressure monitors can achieve 24-hour continuous monitoring of blood pressure changes, providing important reference for the diagnosis and treatment of hypertensive patients. With the increasing awareness of hypertension prevention and control, the market demand for ambulatory blood pressure monitors continues to grow.
The online transaction volume of body fat scales has exceeded 12 billion yuan, becoming another growth point in the smart health device market. Body fat scales can not only measure weight but also accurately measure multiple body composition indicators such as body fat percentage, muscle mass, and bone mass, helping users better understand their physical condition and formulate scientific fitness and weight loss plans.
The demand growth mainly comes from three aspects: first, in the post-pandemic era, family health monitoring awareness has significantly increased, and many families have started purchasing basic smart health devices for daily health monitoring, driving a substantial increase in sales of basic devices; second, accelerated population aging has led to a surge in demand for chronic disease management devices among the elderly, such as blood glucose meters and electrocardiogram monitors, with sales showing a rapid upward trend; third, corporate employee health welfare procurement has increased by 45% year-on-year, with more and more companies paying attention to employees' health status and equipping them with smart health devices as part of employee benefits.
The market shows a polarization trend: consumer products under 1,000 yuan focus on cost-effectiveness, with brands like Xiaomi and Huawei occupying 60% of the market share due to their strong brand influence and comprehensive sales channels; the market for medical-grade devices priced at tens of thousands of yuan is dominated by professional brands such as Yuyue and Walkerman. These brands have strong technical strength and rich experience in the research and production of medical-grade devices, and their product quality and performance are recognized by medical institutions and users.
It is expected that the market size will exceed 120 billion yuan by 2025. With continuous technological progress and sustained market demand growth, the health technology industry will usher in broader development prospects. At the same time, market competition will become increasingly fierce. Among new enterprises, 70% focus on AI health management algorithm research and development. In the future, technological innovation will become the key for enterprises to win in market competition.