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.
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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