An estimate from private consulting firm iResearch places the 2017 value of China’s app-based healthcare service market at 12 billion yuan (US$1.8bn), three times higher than the 2015 figure.
An estimate from private consulting firm iResearch places the 2017 value of China’s app-based healthcare service market at 12 billion yuan (US$1.8bn), three times higher than the 2015 figure. Chinese Internet titans have been pouring money into app-based medical services to develop apps through which patients can consult doctors, schedule appointments and pay medical bills. According to iResearch, app service operators raised about 5 billion yuan (US$761m) in the first half of 2015. However, financial news magazine Caixin reported that of the hundreds of healthcare app service providers that have popped up over the past few years, only 50 have held successful first and second rounds of financing, and only 10 managed a fruitful third round. At the same time, app service providers have yet to find a way to tap the most profitable demographic of the Chinese healthcare market, the patients at State hospitals, as those institutions have refused to share patient records.
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