京东健康破局行业内卷，重塑医疗器械增长逻辑

Core Viewpoint - The article highlights how JD Health has successfully navigated challenges in the medical device industry by transforming from a "medical device retailer" to a "full lifecycle health management" provider, achieving impressive sales growth and innovation in product offerings [1][3]. Group 1: Sales and Product Innovation - In 2025, JD Health launched nearly 30 new medical device products with sales exceeding 10 million yuan and around 500 products with sales over 1 million yuan, setting a new industry record [1][6]. - Over 3,000 brands achieved sales doubling, with JD Plus users contributing over 40% to sales, indicating strong customer loyalty and engagement [1][3]. Group 2: Service Model and Consumer Pain Points - JD Health's "device as a service" model addresses consumer pain points by providing comprehensive support, including product usage guidance, data analysis, and medical consultations [4][5]. - The company has established a closed-loop health service that integrates medical consultation, testing, and medication delivery, allowing users to manage their health without leaving home [5][11]. Group 3: Strategic Partnerships and AI Integration - JD Health has deepened collaborations with global medical device brands and domestic manufacturers, leading to a 100% growth in trending product categories through global procurement and large-scale purchases [6][12]. - The integration of AI technology has revitalized medical device products, exemplified by the collaboration on continuous glucose monitoring (CGM) devices that provide real-time health data analysis and alerts [7][9]. Group 4: Industry Challenges and Solutions - The medical device industry faces challenges such as "islandization" leading to low repurchase rates and price competition, which JD Health aims to address through its service model that promotes innovation and higher sales [11][12]. - JD Health's approach of "pushing new products and selling at higher prices" offers a breakthrough in the competitive landscape, creating a clear growth path for medical device brands [11][12]. Group 5: Financial Performance and Future Outlook - JD Health's stock price increased by 97.51% in 2025, reflecting strong profit growth, with revenue rising from 19.4 billion yuan to 58.2 billion yuan over five years, and net profit increasing from 750 million yuan to 4.79 billion yuan [12][13]. - The company plans to continue its strategy of "supply + service + AI" to reshape product categories and define value, aiming for sustained growth in the medical device sector [12][13].