EXPERTISE SECTORHealthcare, Wellness, & Fitness

The healthcare, wellness, and fitness industry are on the rise

The healthcare, wellness, and fitness industry is a multi-faceted industry covering general physical health to mental health. The Industry is a lucrative market now more than ever due to the increased awareness of personal health and technological advances that make it possible.

The healthcare industry, also called the medical industry, includes companies that provide medical services, manufacture medical equipment or drugs, and provide medical insurance. The healthcare industry aims to provide goods and services to treat patients with curative, preventive, rehabilitative, and palliative care.

With a market value worth $315.5 billion in 2021, the healthcare industry is growing expected to reach a value of $662 billion by 2026. Key players in the industry include CVS Health Corp., UnitedHealth Group, McKesson Corp., AmerisourceBergen Corp., Cigna Corp., Cardinal Health Inc., Walgreens Boots Alliance Inc., and Anthem Inc.

Health Care Facilities and Services

The healthcare industry includes different facilities and services providing medical aid, diagnostics, treatments, and patient care. Such facilities include hospitals, nursing and residential care facilities, ambulatory health care services, and medical practitioners and professionals.

Medical Devices

Medical devices refer to instruments, appliances, or machines for the prevention, diagnosis, treatment, monitoring, or alleviation of disease and are typically used by health care professionals. These devices offer numerous advantages to patients by helping medical service providers in diagnosis and treatment of patients; in addition, assisting patients to improve their quality of life. Segments include Cardiovascular Devices, Orthopedic Devices, Diagnostic Imaging, Diabetes Care, Wound Management, Dental, Nephrology, and Ophthalmic Devices among others. Key players operating in the medical devices market are DePuy Synthes, Medtronics Plc, Fresenius Medical Care, GE Healthcare, Philips Healthcare, Ethicon LLC, Siemens Healthineers, Stryker, Cardinal Health, and Baxter International Inc. and more.

Wellness & Fitness

The fitness market is evolving at an incredible pace, with new business models, training concepts, and trends emerging constantly. Despite setbacks in 2020, the sector has demonstrated how quickly it can adapt with online and virtual training now as mainstream activities. The global health club market is worth approximately $96.7 billion, with 210,000 clubs and over 184 million members worldwide. There’s no doubt that 2020 saw online fitness training go mainstream: global events accelerated the sector’s growth and helped establish it as a viable option for consumers around the world. Prior to the pandemic, the online fitness market was valued at $6 billion, it is predicted to grow at 33.1% CAGR, hitting $59 billion by 2027.

Key trends in healthcare, wellness, & fitness industry

Digitalization
COVID-19
Mobile Health
Big Data
Patient Experience (PX)
Regulations
Data Privacy
Cybersecurity
Medical Wearables
Remote Patient Monitoring

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