7 Long-Term Wellness Trends That Represent Huge Opportunities For Health Startups
Are you a fitness startup founder looking to tap into the latest long-term wellness trends? We’re exploring seven significant opportunities for health & fitness startups to consider, including connected fitness, wearables and health tech, genomics and personalized fitness, aging population, corporate wellness, mental health, and metaverse fitness.
Mental Health and Wellness
The COVID-19 pandemic increased the focus on mental health and wellness, and there is a growing demand for apps or services that can anchor a daily routine to foster better mental health habits, such as cultivating calmness, awareness & clarity. Health startups can leverage this opportunity by creating innovative mental health and wellness programs that integrate mindfulness, meditation, and other stress-reducing practices into their fitness offerings.
Example Companies
EquaHealth, a personal mindfulness trainer
Headspace, a meditation app that provides mindfulness practices and guided meditations to help reduce stress and anxiety.
Bloom, a digital mental health "self-therapy" startup that claims it can help with mild to moderate mental health problems.
Data
According to a report by the Global Wellness Institute, the global mental wellness market is projected to reach $121 billion by 2026, indicating a growing interest in solutions that address mental health concerns such as stress, anxiety, and depression. Additionally, the meditation/mindfulness category is projected to grow at 18.5% CAGR through 2029
2. Wearables and health tech
Wearables and health tech devices have become increasingly popular in recent years, and this trend is expected to continue. Fitness startups can leverage this opportunity by creating innovative wearable devices or integrating with existing devices to provide more personalized and data-driven fitness solutions.
Example Companies
Whoop, wearable technology specializing in wristband fitness trackers and performance optimization on things like sleep and stress.
Oura: a fitness wearable brand that focuses on the development of smart rings. These rings track various health metrics such as sleep quality, activity levels, and heart rate variability.
Data
According to a study conducted by Grand View Research, the global fitness wearable market is projected to reach a staggering $62.128 billion by 2025. This growing trend underscores the increasing demand for real-time health monitoring and personalized fitness assessment in society. Wearables, armed with advanced tracking features and comprehensive data analysis, continue to revolutionize the way we approach health and fitness.
3. Genomics and Personalized Fitness
Advances in genomics and personalized medicine are creating new opportunities for fitness startups to develop customized fitness programs that are tailored to an individual's unique genetic makeup, lifestyle, and health goals. This could include DNA-based fitness plans, personalized nutrition plans, or targeted exercise programs that address specific health conditions or risk factors.
Example Companies
Sequencing, personalized DNA reporting and health screening.
FitnessGenes, uses DNA analysis to provide customized fitness and nutrition plans based on an individual's genetic makeup.
Data
According to a report by Allied Market Research, the global genomics market is projected to reach $27.6 billion by 2025, indicating a growing interest in personalized medicine and fitness solutions.
4. Longevity
The population is aging, and there is a growing demand for fitness & health tech solutions that put a holistic view of a person at the center of the care ecosystem. In many cases, this is developing in usecases with older adults, who want to lead healthier lives and increase their health span and the quality in their years. Fitness startups can develop specialized programs that focus on strength, balance, and mobility training for older adults, while healthcare driven products are looking at more holistic approaches aimed at preventing vs. reacting to diseases, using integrations with various independent data sources to help form a more predictive picture of a person’s health.
Example Companies
Hinge Health, the #1 digital clinic for joint and muscle pain, delivering superior member outcomes and proven claims reductions.
Data
In The Future of Aging, a study by Deloitte it’s made clear that the “incidence and prevalence of major chronic diseases will likely decline dramatically in the future of health.” In response, healthcare and health tech organizations are shifting to go beyond treating illness and disease in later years and partnering with companies to provide solutions much earlier. These types of partnerships will help existing companies stand out, recruit & retain better talent, but also support the health ecosystems evolution of personalized data and preventative healthcare efforts.
5. Corporate Wellness
Many companies are investing in employee wellness programs to improve productivity, reduce healthcare costs, and attract and retain top talent. Fitness startups can tap into this opportunity by creating customized corporate wellness programs that offer on-site fitness classes, wellness challenges, disconnected corporate retreats or personalized coaching.
Example Companies
Fitbit Corporate Wellness, a well-known fitness technology company, offers comprehensive corporate wellness programs designed to improve employee health and well-being.
Virgin Pulse, Virgin Pulse specializes in providing employee well-being and engagement solutions for corporations.
BoomPop, a company that offers unique and customized team retreat experiences, including various types of corporate retreats, in diverse locations, designed to foster reconnection, inspiration, and engagement, with the support of event experts who provide personalized planning and consultations
Data
A study by Global Market Insights projects that the corporate wellness market will exceed $100 billion by 2027, representing a compound annual growth rate (CAGR) of over 8% during the forecast period.
The International Foundation of Employee Benefit Plans reported that 80% of employers plan to invest more in employee well-being initiatives in the coming years.
A study published in the Journal of Occupational and Environmental Medicine found that for every dollar invested in employee wellness programs, companies saw an average return of $2.71 in healthcare cost savings and $2.73 in reduced absenteeism, both key metrics of success.
6. Connected Fitness
The rise of connected fitness devices and wearables is creating new opportunities for fitness startups to create integrated fitness experiences that seamlessly blend physical activity, data tracking, and community engagement. This includes digital fitness offerings, fitness networks & marketplaces, or virtual coaching platforms that allow individuals to connect with others and track their progress in real-time.
Example Companies
Peloton, the industry in-home leader in connected fitness equipment combined with streaming on-demand classes.
MyFitnessPal, a fitness tracking app that allows users to track their progress, connect with friends, and join communities based on their interests.
Data
According to a report by ResearchAndMarkets, the global connected fitness market is projected to reach $1.7 billion by 2023, indicating a growing interest in fitness solutions that are connected, data-driven, and community-oriented.
7. Metaverse Fitness
With the rise of the metaverse, which is a virtual shared space that is persistent and immersive, there is an opportunity for fitness startups to create engaging and interactive virtual fitness experiences that can be accessed from anywhere in the world. This could include virtual reality fitness classes, interactive workout games, or immersive fitness experiences that blend physical and digital elements.
Example Companies
Supernatural, a virtual reality fitness app that offers immersive workouts set in beautiful locations around the world.
Data
According to a report by VR Fitness Insider, the global virtual reality fitness market is projected to reach $1.6 billion by 2023, indicating a growing interest in immersive fitness experiences.
These are just a few long-term trends that fitness startup founders could consider as huge opportunities. Of course, it's important to keep in mind that trends can change over time, and it's essential to stay agile and adaptable to succeed in the fast-changing fitness industry.
