The Development of the Domestic Medical Equipment After the Epidemic

It is a common phenomenon for medical devices to enter ordinary people's homes, which had some simple medical devices that are convenient and practical, especially for families with chronic diseases as early as many years ago, such as thermometers, stethoscopes, and sphygmomanometers. According to statistics, the number of patients with chronic diseases accounts for more than 70% of the total number of patients. In recent years, with the improvement of living standards, people pay increasing attention to the health of themselves and their families. The traditional medical devices which can no longer meet the requirements of some families are replaced by the practical and full-featured medical devices.

Domestic population base the sub-health and the aging is pretty large and the household medical appliance is one of the important tools to connect these consumers, which plays a multi-faceted role in the whole medical and health industry. The proportion of drugs and instruments in many foreign countries is close to 1:1, but at present, the medical appliances in China only account for one-third of the sales, which is to say there is still a large growth space for the medical appliance industry.

The Aging Population Drives the Demand for Household Medical Appliances

The aging population is one of the main driving factories for the development of household medical appliances. Data shows that by the end of 2017, the number of people over 60 years old in China had reached 240.9 million, accounting for 17.3%. Due to the gradual decline of the physical function of the elderly, it is easy to secondary to a variety of other diseases with a necessity to go to the hospital for examination. Under the characteristics of this group are no one to accompany, unwilling to travel, and inconvenient to travel, household medical appliances can solve that contradiction, that is, to realize the prevention and inspection of the elderly group at home. The trend of aging will inevitably lead to corresponding medical consumption and increase the use of the frequency of household medical devices. At the same time, it is an indisputable fact that the middle-aged and the elderly account for the majority of the infected and dead patients at this epidemic, after which more people realized the importance of family medical equipment for the elderly. All kinds of domestic medical devices, such as a ventilator, blood glucose meter, and blood pressure mete, and others, will open up new market space with the arrival of aging.

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About 70 percent of the public health resources are distributed in the metropolis which also has the high-tech talent and excellent medical staff, resulting in the lack of medical resources at the rural area where people are not willing to trust the local health institution instead of choosing to go to the big hospitals for treatment. It brings about many problems with the difficulty to register and visit and a higher risk of cross-infection with hospital overcrowding. As a universal medical and health equipment in the city, household medical appliances can provide certain prevention, diagnosis, and health rehabilitation to reduce the waste of medical resources to a certain extent. 

The Market of Household Medical Appliances with Huge Potential

The output value of household medical appliances in European and American countries has reached more than 26 billion USD, with a CAGR of over 16 percent. In China, despite the rapid development of the medical device market, in which the per capita cost of medical devices is only 6 USD, far below that of the United States with 329 USD, about 55 times of China. Moreover, the proportion of domestic medical devices accounts for less than 11 percent of the output value of the whole medical device industry, which is far lower than that of the developed countries with 40 percent. It can be seen that there is still a big gap in the consumption level of domestic medical devices between developed countries and China with vast space in the future.

The Market Scale is Expected to Reach 21.4 Billion USD in 2020

In 2017, the market scale of the domestic medical device has reached 74.8 billion USD, which consist of the medical devices and retail medical devices. Among them, medical devices occupy a dominant position in the whole medical device market, while domestic medical devices are in a weak position with a very low market share and the income of about 6.9 billion USD in 2015.

Before 2019, the growth rate of the sales volume of household medical appliances has been maintained at 25 percent, far higher than that of other industries. According to the relevant data, the market scale of household medical appliances in China increased from 2.5 billion USD in 2011 to 6.9 billion USD in 2015, with a CAGR of 22 percent, which is also higher than the average growth rate of about 11 percent of the whole medical device market. Besides, with the sudden outbreak in 2020, the epidemic will accelerate the process of household medical devices, which is expected to grow rapidly in the short term, and then maintain stable development. It is estimated that the growth rate of household medical appliances will be about 25 percent every year, whose market scale is expected to reach 21.4 billion USD in 2020. 

Yewell involves multiple product segments including the household medical appliances and the medical devices, which has more than 500 product categories. After years of hard work in the market of household medical appliances, Yuwell has a rich product line, covering dozens of products in many fields and has become the most famous brand of this field in China. In 2018, its total operating revenue was 597 million USD with an increased rate of 18.12 percent over the same period of last year. In the field of household medical sector, online revenue grew significantly with a year-on-year growth rate of more than 40 percent.

With the improvement of the life quality of the public and the acceleration of telemedicine, the market demand for household medical appliances will diversify with a large number of various types of household medical devices emerging. And the market share of household medical appliances is expected to accelerate the expansion.

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Ventilator

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Blood Glucose Meter

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