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As Plato said: The first wealth is health, the second wealth is beauty, and the third wealth is property. Maintaining good health is the foundation of human survival and well-being, and is a necessary condition for realizing potential and pursuing happiness. With the development of social economy and the improvement of people's living standards, modern people are paying more and more attention to health. The repeated outbreaks of epidemics in the past few years have sounded the alarm for people around the world and given rise to new health consumption trends. In today's post-epidemic era, with the continuous improvement of health awareness and the continuous growth of health consumption demand, the global health industry market has once again ushered in a peak of growth. Global health industry market growth data
According to a report by Research and Markets, the global health industry market size will reach US$8.2 trillion in 2025 , an increase of approximately 42% from US$5.8 trillion in 2019. With the aging of the global population and the increase in chronic diseases, as well as people's emphasis on healthy lifestyles and healthcare, the health industry market in various regions around the world is expected to continue to grow rapidly:- The health industry market in the Asia-Pacific region has the fastest growth rate and is expected to reach US$3.4 trillion in 2025, accounting for approximately 41% of the global market share.
- The health industry market size in North America will grow from approximately US$1.4 trillion in 2020 to approximately US$1.8 trillion in 2025, with an average annual compound growth rate of 5.2%.
- The European market is expected to grow at a CAGR of 4.8% between 2020 and 2025, reaching USD 2.17 trillion by 2025.
- Driven by population growth, the increase in the middle class and government investment in healthcare services, the health industry market in Latin America, the Middle East and Africa is also growing rapidly.
Overall, the growth trend of the global health industry market shows the characteristics of diversity and regional differentiation.
At present, the global health industry market mainly covers health products, medical devices, fitness equipment and other health categories. Among them, the healthcare market is still the main sector of the global health industry market, and the market size is expected to reach 3.5 trillion US dollars in 2025. At the same time, according to relevant reports released by Research and Markets, the following market segments have the opportunity to become one of the fastest growing markets in the health category in the next few years: The health care products market is growing steadily Nutraceuticals are an important part of the health category, including dietary supplements, vitamins, minerals, herbs, etc. The global nutraceuticals market is expected to grow steadily at a compound annual growth rate of 7.9% between 2022 and 2030, reaching US$1.6 trillion by 2030. The smart wearable device market continues to heat up With the continuous development of science and technology, smart wearable devices have become one of the emerging markets in the health category, including smart bracelets, smart watches, smart glasses and other devices that can monitor various health indicators of the human body. It is estimated that from 2020 to 2030, the global smart wearable device market will grow at a compound annual growth rate of 14.7% , reaching US$137.15 billion by 2030. Green and healthy products are becoming a new consumer hotspot As people pay more and more attention to health and the environment, and as the government introduces policies and regulations to promote sustainable development, consumers are increasingly demanding environmentally friendly and harmless health products. Green and healthy products such as natural organic food, environmentally friendly household products, biodegradable products, and non-toxic cosmetics are becoming new consumer hotspots. According to a report released by Grand View Research, the global green health products market size was US$117 billion in 2019 and is expected to grow at an average annual compound growth rate of 8.5% to reach US$193 billion by 2025.
At the same time, according to Google Trends, global consumers' searches for Health Products have remained high in the past year, reaching their peak in October 2022. In general, from traditional health products to smart wearable devices to green and healthy products, multiple health sub-categories are constantly innovating and upgrading, and there is considerable market growth potential. As one of the world's largest e-commerce platforms, Amazon's health category has maintained a rapid growth trend. Analysis of Amazon's hot-selling health products Amazon consumer trend data shows that in the fourth quarter of 2022, most US consumers said their spending on health categories such as vitamins and dietary supplements remained the same or increased. Among them, the demand for vitamins and supplements is increasing, and more environmentally friendly, reusable and natural health products are popular among consumers. Based on the growth potential and prospects of the health category, Amazon has also begun to expand its business in the health category and launched some new services and products in this field, such as Amazon Pharmacy and Amazon Health Insurance, to meet people's demand for health products and services. In addition, on the Amazon platform, there have been many best-selling products in various fields of the health category that have achieved great success. Jiuan Medical-Products are in line with the epidemic situation
Founded in 1995, iHealth is a listed company focusing on the research, development and production of health-related electronic products and smart hardware. Its main products cover areas such as blood pressure, blood sugar, body temperature, body fat/weight, blood oxygen, and electrocardiogram. According to iHealth's latest performance forecast, iHealth expects to achieve a net profit attributable to shareholders of listed companies of 16.5 billion yuan to 17.5 billion yuan in 2022 , an increase of 1715.9% to 1825.95% year-on-year . ▲ The picture comes from Jiuan Medical Report During the reporting period, affected by the epidemic, after the self-test OTC test kit obtained the emergency use authorization (EUA), the demand for new crown epidemic prevention products such as test kits sold by iHealth in the United States increased significantly, the sales revenue of related products increased significantly, and a number of sky-high order contracts were signed in succession. At the same time, the increase in sales of COVID-19 testing kits, forehead thermometers and other products sold by iHealth, a brand under iHealth, in the United States has also brought the company good brand awareness and user reputation, boosted sales of the company's other products, and achieved considerable success on Amazon. At present, iHealth's forehead thermometers, COVID-19 testing reagents, blood oximeters and other products have become the best sellers in multiple categories on Amazon. Looking at the reasons for the surge in performance, in addition to the products meeting the needs of the epidemic outbreak, good brand awareness and user reputation are also the key to maintaining a virtuous cycle of product sales. In the future, relying on the good reputation of its products, Jiuan Medical may develop new health products. Kangtai Medical-Regarding R&D and innovation as the key
Kangtai Medical belongs to the medical device industry and is a high-tech enterprise specializing in the research and development, production and sales of medical diagnostic and monitoring equipment. Its products cover multiple categories including blood oxygen, electrocardiogram, ultrasound, monitoring, blood pressure, analysis and testing. As one of the earliest domestic medical device companies to enter the overseas market, after years of development, Kangtai Medical has adopted a distribution model, covering its products on mainstream e-commerce platforms such as Amazon in the form of self-operated stores, and selling products directly to end customers through online channels. As of June 30, 2022, the company's products have been sold to more than 150 countries and regions around the world , and enjoy a high brand awareness in the international market. ▲ The picture comes from Kangtai Medical Report The reason why Kangtai Medical can stand out in the medical device field with a very fast upgrade and iteration speed is closely related to its strategy of "focusing on independent research and development, guided by market demand, and constantly improving the product system." After more than 20 years of research and development and technological accumulation, Kangtai Medical has mastered the core technologies and production processes of various products such as blood oxygen, monitoring, electrocardiography, ultrasound, blood pressure, and analytical testing, reaching the industry-leading level. As of June 30, 2022, the company holds 239 domestic patents, 94 foreign patents, 211 software copyrights, and a large amount of technical reserves. Kangliyuan-deeply engaged in fitness equipment for more than 20 years
Kangliyuan was established in 1998. Its main products cover a variety of products such as anaerobic fitness equipment, aerobic fitness equipment, outdoor national fitness equipment, etc., with more than a thousand types. As of June 30, 2022, its products have been exported to more than 20 countries and regions including the United States, Europe, and Australia. Its global market share of fitness equipment is about 0.80% , and its export sales revenue accounts for 1.75% of China's total fitness equipment exports. As an export-oriented seller, Kangliyuan's overseas sales model mainly consists of online third-party e-commerce platforms and offline physical retail stores. Driven by the dividends of cross-border e-commerce, Kangliyuan began to open stores on Amazon in 2017. From 2019 to 2021, the Amazon platform achieved revenues of 16.1304 million yuan, 70.6245 million yuan, and 63.1646 million yuan, respectively. Looking at the revenue structure of Kangliyuan's main business, it is mainly divided into two modules: indoor fitness equipment and outdoor fitness equipment , with the former accounting for more than 90%. As of the first half of 2022, Kangliyuan's anaerobic equipment sales accounted for 84.75%, about 274 million yuan; aerobic equipment sales accounted for 9.86%, about 5.1197 million yuan. ▲ The picture comes from Kangliyuan's prospectus More than 20 years of experience in health equipment not only enables Kangliyuan to have a stable support from key customer groups, but also gives it a keener market sense, allowing sales to maintain growth. However, it is worth noting that Kangliyuan’s current production and operation are still mainly based on the OEM and OEM model . As competition in the fitness equipment market becomes increasingly fierce, this may become a bottleneck hindering the company’s performance growth . In any case, from the above, we can see that health products such as health products, medical devices, and fitness equipment have become hot-selling categories on the Amazon platform. As consumers pay more and more attention to health and healthy lifestyles, Amazon's market potential and prospects in the health field will continue to increase. For cross-border sellers who are interested in the money-making power of health categories, these business strategies that sell well in these categories are undoubtedly desirable.
In recent years, the epidemic has sounded the alarm for people's health, reminding them to pay more attention to their health and lifestyle, and has also promoted the development and innovation of the health industry. From traditional health products to smart wearable devices, to online medical services, health categories are constantly innovating and upgrading. In the future, with the improvement of living standards and enhancement of health awareness among global residents, the growth momentum of the health products market will undoubtedly continue under the huge and stable market demand, facing broader development space and opportunities.
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