Sales Of Healthcare Services And Products Increase On Alibaba

Chinese shoppers have used Alibaba's platforms to purchase a large number of medical gadgets and services.

Alibaba Group is playing an important role in boosting the growth of the pharmaceutical industry. Chinese shoppers are using the internet to purchase healthcare gadgets and facilities. 

Alibaba news reported that Chinese customers made payments worth $10.10bn (65.02 billion Yuan) in purchasing healthcare devices, medicines and facilities on Hangzhou-based enterprise’s Chinese trading sites last year which is 62.5% greater from the past year, disclosed in a report recently released by electronic commerce giant. The report has also stated China’s electronic shoppers are shifting from making efforts to seek cures for illnesses to investing in disease prevention.

In the recently shared report, the organization has attributed the rise in electronic healthcare expenditure to growth in personal incomes, the increase in the number of aged people in the most populated country alongside environmental problems of the second largest economy. 

A larger number of Chinese shoppers purchased over the internet for healthcare in 2014. Electronic shoppers of medical services and products on the company’s forums grew by 63.5% to 111 million last year from 68 million in 2013.

A significant number of online healthcare consumers heavily spent money. Almost 68.9% of customers who purchased services or health products made spending of more than $777 (5000 Yuan) on company’s platforms in a time span of 12 months, the report stated.

On November 11, the yearly online buying extravaganza in China, known as Singles’ Day, sales of healthcare devices through the online trading giant’s platforms grew by 100% on a yearly basis. This encompassed sales of wearable gadgets, such as fitness trackers, growing nearly five times, Alibaba stated.

In addition, on the enterprise’s platform, there was an increase of 205% in the sales of nursing caring facilities on Singles’ Day. Health insurance’s sales grew by 432% on the enterprise’s forums including the large Tmall and Taobao marketplaces.

Alibaba has also reported that a dental clinic was able to sell vouchers for more than 500 dental implantations on Singles’ Day. Clients are also rapidly accessing the internet to purchase healthcare facilities like cancer screening and gene tests. Last year, sales of health examination facilities through the organization are trading platforms increased by 31.3% on a yearly basis.

The report stated delivery of a baby and after-birth nursing facility worth $12,643 (80,220 Yuan) proved to be the most priced services customers could purchase in the Healthcare category of Tmall during the sale that took place on Singles’ Day this year. The facility was offered by Beijing United Family Hospital.

The report has been shared at a time when the finding of a survey has made RBC Capital Markets reiterate an outperform rating on the corporation, which was able to show a much better position in the electronic commerce market than its rival, JD or Amazon.