Health and wellness technologies are revolutionizing the way people live their lives and keep track of their physical and mental well-being. These technologies, both mobile health applications and wearable technology, are on the forefront of this evolution and in the past couple years these markets have grown exponentially. According to a recent survey, in 2012 the wearables market was valued around $750 million, and forecasted to reach a value of $5.8 billion by the end of 2018. That equals a bump of close to 800 percent within a decade.
This is an exciting time for health and wellness technologies as more applications are emerging offering solutions for weight-loss solutions, better sleep, more active lifestyles, and even customized mental health. Consumers are adapting to these technologies to track everything from their exercise and diet routines to their medical history. Additional data shows that 60 percent of U.S. adults track their weight, diet, or exercise routine; 33 percent of U.S. adults track health indicators or symptoms, (blood pressure, blood sugar, headaches, or sleep patterns); and 12 percent of U.S. adults track a health indicator on behalf of someone they care for.
The increase of these technologies are not only positively impacting the health of individual consumers, but also pulling valuable data for medical research. Researchers and professionals in the medical field will have a much larger pool of data to pull from and provide more in-depth analysis, ultimately leading to medical improvements.
Health and wellness technology does not only apply to younger age group, but senior citizens and the disabled community are benefiting from technology that allows for some independence. Mobile applications and wearable gadgets allow for senior citizens and disabled individuals to keep track of medications and monitor vital signs for improved quality of life.
Where is this market headed?
Health and wellness technologies will continue to grow as design breakthroughs, technological advances and the adoption of mobile applications continues to develop. Health technology, wearables, and mobile applications are leading consumers to an empowered state of well-being. Wearable technology and mobile applications have allowed for consumer-centric care in ways that have never been done before, and will continue to evolve. Self-tracking apps are capable of monitoring fitness and diet, analyzing symptoms, measuring blood pressure, and connecting patients directly with mental health professionals. This streamlined process removes the in-between time of waiting rooms and removes any stigma that is associated with seeking professional help.
How is PMBC Group at the forefront?
PMBC Group is engrained in health and wellness technology, staying on-top of emerging trends, and fostering relationships with key media and influencers in this space. PMBC Group has extensive experience in wearable technology, mobile applications, and thought leadership. Their team is passionate about the current market, where the space is headed, and how they can share this knowledge B2B and with consumers. PMBC Group has proven successful in tapping into the conversation of health technology and positioning their clients as leaders in innovation, market research, and cutting edge technology.