China’s healthcare market is set for change and as part of that change we’ll see explosive growth driven by tech companies. A portion of the revenues will undoubtedly go to global IT players, but another piece will be reserved for local companies.
Xiaomi is looking to get its share of the pie, and its ambitions extend beyond the borders of the world’s most populous country. In that sense, the so called Apple of China has been making moves left and right to make sure its products and services are used by the next generation of digitally connected patients.
Xiaomi’s own mHealth products
Beyond launching its own devices, Xiaomi has also established a couple of partnerships to build new products, and has invested in select digital health/fitness companies.During the last few years, and especially in 2015, Xiaomi unveiled a slew of health and fitness-related devices, including:
- Mi Band – Xiaomi’s original wrist-worn activity tracker made a splash with its low price tag of just $12, helping the company quickly gain market share. According to recent figures, the Chinese firm has managed to move more than 10 million Mi Band units in first three quarters of the year.
- Mi Band 1S – the updated model with heart rate sensor.
- Mi Smart Scale – smartphone-connected scale.
- Blood Pressure Monitor – the most affordable connected blood pressure monitor device on the market, made in partnership with iHealth Lab.
- Mi Air Purifier – the second-generation model (Mi Air Purifier 2) was unveiled in November to help the Chinese get a fresh air inside their homes and offices.
Xiaomi also has its own Mi Fit app that helps users manage their health and fitness activities from a single location.
Xiaomi’s indirect involvement in the market
Aside from launching its own devices, Xiaomi has also established a couple of partnerships to build new products, and has invested its own money (through Xiaomi Ventures) in select digital health/fitness companies:
- Smart shoes – made in partnership with local sports and fitness brand Li Ning and sensor-maker Huami.
- Investments in: Huami, which makes fancy-looking Amazfit smart wearables (among other things); iHealth Lab, a subsidiary of Andon Health, that makes an array of mHealth devices; and Misfit, which was later acquired by Fossil.
Here’s to 2016
Xiaomi will likely be expanding its mHealth game in the year ahead. Chances are we’ll see them unveiling new products and entering new markets, further propelling their position as one of the leading smart device makers. After its home turf of China, we expect Xiaomi to bring its non-smartphone products to India and other parts of Asia, and then perhaps, enter several European markets. The company is well positioned to grow and we’re certain they’ll be playing a major role in the current mHealth revolution…