In the last few years, there’s been an increasing focus on sustaining a healthy lifestyle and this emphasis has been accompanied by the rising use of wearable devices, tablets, and smartphones, which has driven the growth of the fitness app market in more than one way. Moreover, the surge in awareness about diet-related ailments and infections has supplemented the growth even more.
According to a recent report published by Allied Market Research, the global fitness app market is anticipated to cite a noteworthy CAGR from 2020 to 2030.
Consumers across the world have started becoming highly conscious about their diet so as to live a better life and make the most of their busiest schedules. Simultaneously, people have become more & more tech-savvy and started taking recourse to clever tools to obtain information at the easiest costs possible, which has again aided the market growth in several ways. There has also been a growing inclination among people to keep a constant check on their health status and use that data to come up with specific decisions so as to utilize their medical records to swap their lifestyle for further improvement.
At the same time, the rising adoption of IoT-enabled devices such as tablets and smartphones, especially in the developing economies, has paved the way for lucrative opportunities for the key players in the industry. Moreover, the fact that the majority of fitness applications are used by smartphones has come out as another major driving factor for the growth of the global fitness app market. The familiarity with prevailing connecting expedients and the prospect of real-time communication among the devices endow the tools to optimize efficiency and improve capabilities.
Additionally, most fitness apps tend to connect individuals with a personal coach or instructor to help with certain concerns while using a specific fitness plug-in. Most importantly, high-end technological advances in fields such as machine learning and AI growing cases of coronary issues, obesity, and hypertension have been overtly beneficial for the market growth.
The audio-driven fitness application by WithU doesn’t let anyone give an excuse for skipping a workout-
Instead of emphasizing on workout videos presented by highly proficient personal trainers, WithU also repudiates to basics by doling out anodyne workouts sans screen. The mentors and trainers are extremely amiable and friendly, coming up as fitness spirit conductors that make one’s experience with WithU just a cakewalk. They’re the most responsive, helpful people one has ever met; each trainer permeates their workouts with their own discrete energy, from strong powerful commandants to more cool, relaxed, chatty exercise partners. The main intent of this amiable behavior is to craft a more familiar connection to one’s trials, bringing them back to the app time and again.
At the same time, the app also offers a modified and custom-made list of workouts and programs, from fitness aids to a striking range of yoga agendas and meditation. Although there are already one thousand existing workouts lining through the app and new forms of workouts are incorporated each week. Once one requires a quick visual tutorial, even during yoga, WithU comes up with clear video directives in an out-and-out “Exercises” flap, with an avatar showing the users what to do and what not.
Clinicians, nowadays, are detailing advice about the efficacy and expediency of mobile applications and a number of people have already integrated apps into their attempts to manage weight. The rise in demand for shepherding easy fitness transformation among healthcare establishments is expected to drive the market growth in an array of different ways.
Here, it’s worth mentioning that the outbreak of the pandemic had a sheer positive impact on the global fitness app market. Strict implementation of lockdowns by several government bodies in the majority of countries and the growing trend of online education along with work from home made people more inclined toward the ongoing fitness whizz. Moreover, to retain their stand in the highly competitive market, business organizations in this domain have budged toward digitalization to dole out pertinent online services, thus helping consumers to weigh up prices with other contenders, for picking out precise offers, and options to accomplish fitness planning courses online.
The prominent workout apps such as Strava, Nike Training Club, and Map My Run experienced a steep hike in new users in the first quarter of 2021. Moreover, keeping in tab with apptopia, Peloton retorted by offering their app at free of cost for as long as ninety days, certainly with the expectation that these free users would get converted to paid app subscribers. It was also expected that the consumers would go on to buy a piece of connected kit. Such rapid progress and development across the world have paved the way for new opportunities in the industry.
Top 10 profitable Health Tech Startup Ideas
Health tech startups have become increasingly popular in recent years, as entrepreneurs and innovators seek to use technology to improve healthcare outcomes and patient experiences. Here are ten profitable health tech startup ideas that have the potential to revolutionize the healthcare industry:
- Telemedicine: Telemedicine allows patients to receive medical care from the comfort of their own homes, using video conferencing and other digital technologies. This can be especially beneficial for patients in rural areas or those with mobility issues.
- Wearable technology: Wearable technology, such as fitness trackers and smart watches, can help patients monitor their health and track their progress towards fitness goals. This can be particularly useful for people with chronic conditions, such as diabetes or heart disease.
- Electronic health records (EHRs): EHRs allow doctors and other healthcare providers to access patient records quickly and easily, improving the speed and accuracy of diagnoses and treatments.
- Health coaching: Health coaching services can help patients make lifestyle changes that improve their health, such as quitting smoking, losing weight, or managing stress.
- Personalized medicine: Personalized medicine uses genomic data and other patient-specific information to tailor medical treatments to individual patients, increasing the likelihood of success and reducing side effects.
- Mental health apps: Mental health apps can provide support and guidance to people struggling with anxiety, depression, and other mental health issues.
- Virtual reality therapy: Virtual reality therapy can be used to treat a variety of conditions, including post-traumatic stress disorder (PTSD), phobias, and addiction.
- Health analytics: Health analytics uses data analysis and machine learning to identify trends and patterns in healthcare data, improving outcomes and reducing costs.
- Medical billing software: Medical billing software can help healthcare providers manage their billing and payment processes more efficiently, reducing errors and improving cash flow.
- Patient engagement tools: Patient engagement tools can help patients stay informed about their health, communicate with their doctors, and take an active role in their own care.
Overall, health tech startups have the potential to revolutionize the healthcare industry, improving outcomes for patients and providers alike. By harnessing the power of technology and innovation, these startups can create a brighter and healthier future for all of us.
Innovative Technologies to Revolutionize Healthcare in 2023
Over the past decade, technological advances have driven healthcare industries through new developments that help us find, prevent, and cure diseases. The rise of artificial intelligence (AI) technology and the digitization of healthcare workflow are responses to the growing demand for accessible and quality medical services.
As we move forward into the future, it’s critical to understand the trends driving healthcare technologies in 2023. Health care is undergoing many changes, often replacing older systems with more advanced technologies. We must consider how these legacy systems and new technologies interact and evolve. The focus should be on improving performance, productivity, and security while retaining reliability and accessibility. IT Support Salisbury experts help to improve the performance of the healthcare industry.
In this blog, we will cover six different healthcare technology innovations that are revolutionizing healthcare today. In addition, we will examine how artificial intelligence and blockchain are used in medical care.
The Internet of Things (IoT)
The internet of things is a new technology trend in healthcare that connects devices with other devices, computers, and the internet. These interconnected devices can send and receive data in real time. As a result, healthcare organizations can leverage a wealth of data and make healthcare more efficient and personalized.
Wearable medical devices are an excellent example of the impact of the internet of things in healthcare. These medical devices can track a patient’s vitals, such as heart rate and temperature, without needing a skin-attached monitor. As a result, it has made it easier for patients to get medical care anywhere, at any time. Artificial intelligence is also being used to diagnose diseases early, which has helped improve patient outcomes.
Telemedicine is another emerging healthcare technology that is revolutionizing healthcare. Doctors can treat patients from anywhere in the world via video chat and digital health records. This has helped improve healthcare outcomes by allowing patients to receive care in their environment rather than traveling long distances for treatment. The internet of things is an exciting development with huge potential to improve health care globally.
Artificial intelligence is widely used in healthcare through applications such as computer vision, natural language processing, medical data analysis, and healthcare IT. These techniques have enabled healthcare organizations to automate routine tasks, save time and money, and improve patient care.
One of the most popular applications of artificial intelligence is a medical diagnosis. Medical imaging is a vital part of healthcare. However, it requires much professional effort and is prone to human error. With artificial intelligence, computers can analyze medical images automatically to provide an accurate diagnosis with high precision. This has reduced medical errors and improved patient care.
Another important application of artificial intelligence in healthcare is chatbots. These conversational interfaces provide a personalized patient experience by engaging with them emotionally. As a result, they help patients understand their health issues better, answer their queries quickly, and make appointments easier.
Blockchain is a distributed database that allows secure, transparent, and tamper-proof transactions. Its many uses in healthcare include creating tamper-proof registries for medical records and prescriptions, reducing the cost of healthcare by eliminating intermediaries, and tracking patient data from start to finish, helping to improve care and efficiency.
As a technology with the potential to change everything from banking to healthcare, it’s vital that you stay up-to-date with the latest innovations in healthcare. By reading industry journals and attending conferences, you can learn more about blockchain’s potential uses in healthcare and how it can revolutionize your business.
Remote Patient Monitoring (RPM)
Remote patient monitoring (RPM) is one of the healthcare technology innovations that allows doctors to monitor patients through remote sensors and a digital interface. RPM gives healthcare professionals a digital window into the health status of their patients by streaming live videos of them from multiple angles.
The benefits of RPM include improved patient safety, reduced workload for medical staff, and cost savings for healthcare organizations. Remote patient monitoring technology has the potential to improve healthcare outcomes and reduce healthcare costs. Hospitals can identify problems with a patient’s care early on with RPM and take appropriate actions. Additionally, RPM systems enable healthcare professionals to provide care from distant locations, reducing the stress of seeing a patient face-to-face. Overall, remote patient monitoring technology benefits healthcare organizations and their patients.
MarketsandMarkets states that the global healthcare cloud computing market is expected to reach $89.4 billion by 2027 at a CAGR of 17.8%. As a result, organizations are looking to migrate their data, applications, and infrastructure to the cloud. Cloud migration services enable users to move their data, applications, and infrastructure to the cloud. These services can help organizations save money and time by eliminating the need for expensive data center upgrades and maintenance. Additionally, cloud migration services help organizations reduce risk by ensuring data security and compliance with a single system.
The market is also witnessing growth in hybrid clouds, which combine on-premises and cloud deployments. By combining on-premises and cloud technologies, organizations can improve their digital transformation efforts’ cost-effectiveness, agility, and flexibility. Overall, the healthcare industry is adopting technology at a rapid pace, creating a significant demand for cloud migration services that will help organizations successfully move their data across various systems.
Telemedicine is one of the emerging healthcare technologies that provide remote patient care using technology such as video conferencing. It offers a cost-effective and efficient way to provide remote healthcare services, allowing patients to receive doctor’s care from any location.
Besides offering convenience, telemedicine also reduces healthcare costs by reducing the number of offices visits a patient requires. In addition, doctor-patient communication and collaboration are improved by telemedicine, leading to a better understanding of the patient’s health concerns and better treatment outcomes.
Another benefit of telemedicine is that it enables patients to access care from multiple providers in a single visit. This makes it easier for patients to select the best provider for their medical needs. Besides, telemedicine can reduce health disparities by providing healthcare services to people regardless of their geographical location or socioeconomic status.
Innovations in healthcare are changing the way we care for our health. While using technology in healthcare is making a big difference, it’s up to healthcare professionals to adapt and innovate to make the best of it. Personalization of care is another trend that is revolutionizing healthcare. With artificial intelligence and machine learning replacing human decision-making, healthcare professionals can utilize these innovations to make patient care more efficient. Artificial intelligence can also help healthcare professionals diagnose diseases at an earlier stage, thus reducing the number of patient visits. By understanding how technology is changing healthcare, you can take steps to adopt such technologies in your industry.
Post courtesy: Chelsea Fetzer: Sales and Marketing Supervisor at Biz Technology Solutions
Data Science and Health Tech Startup Holmusk Raises $21.5 Million Series A Funding
Holmusk, a leading data science and health technology company, today announced a US$21.5 million funding round. The round was led by Optum Ventures (OV) and Health Catalyst Capital (HCC) and included existing investors Heritas Capital and other individuals.
Holmusk is building the world’s largest Real-World Evidence (RWE) platform in behavioral health and chronic diseases to expand data-driven, evidence-based care for people managing behavioral health conditions. This is made possible by bringing together specialty behavioral health data and Holmusk’s novel analytics platform to deliver evidence-based insight that care providers, health care payers and patients can use to make fully informed care and treatment decisions, and better integrate care for people with both behavioral and chronic health needs. These capabilities can also aid pharma companies with R&D and commercialization of new drugs.
In 2016, Holmusk acquired MindLinc, an Electronic Health Record (EHR) system focused on behavioral health, from Duke University School of Medicine. This enabled the company to leverage longitudinal data from many mental health institutions across US, stretching over 20 years.
Founded in 2015, Holmusk is headquartered in Singapore with offices in New York City, London and Shanghai. Holmusk was recognized as a Technology Pioneer in 2019 by the World Economic Forum and is part of the Innovations in Healthcare’s 2020 Innovator Cohort. The new funding round allows Holmusk to expand its US operations in New York City, and enables investment in its proprietary technology to harness and analyze real-world data to accelerate drug development and data-driven medicine.
Dr. Vijay Barathan from Optum Ventures (OV) and Charles Boorady from Health Catalyst Capital (HCC) will be joining the Board of Directors.
“Our team is encouraged by Holmusk’s evidence-based approach to improving care for people suffering from behavioral health disorders, and we look forward to working closely with the Holmusk team to support the next phase of growth” said Dr. Vijay Barathan of Optum Ventures.
Charles Boorady of Health Catalyst Capital said “by redefining the EHR from a repository of data to a clinical decision support tool with connectivity to digital therapeutics, Holmusk is uniquely positioned to improve patient care while reducing administrative burden and supporting the research and development of new care models and therapies.”
“In situations like today, the need for Real-World Evidence is more pronounced than ever,” said Nawal Roy, Holmusk’s Founder & CEO. “We are fortunate to bring on partners like Optum Ventures and Health Catalyst Capital who understand the importance and are excited to join us in our mission to drive evidence-based care.”
This News has been Published in Partnership with PR Newswire
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