Digitization, the buzzword of the 21st century, is sweeping across sectors, the wellness industry is no different. Valued at USD 1.5 trillion in 2021, the industry is heading towards a digital future accelerated by a once-in-a-century pandemic. After the initial setback due to the pandemic, the wellness industry is slowly pivoting back to normalcy.

1. Wellness Industry Heading for
a Digital Future
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2. Introduction:
Digitization, the buzzword of the 21st century, is sweeping across
sectors, the wellness industry is no different. Valued at USD 1.5 trillion
in 2021, the industry is heading towards a digital future accelerated by a
once-in-a-century pandemic. After the initial setback due to the
pandemic, the wellness industry is slowly pivoting back to normalcy.
Emerging technologies and new apps coupled with changes in
customer behavior have ensured that the wellness industry is well on its
path to embracing digital solutions to meet the demands of new-age
consumers.

3. Digital wellness solutions Making Inroads in the Wellness Industry
The last few years have seen digitization becoming a part of the
industry, making its presence felt in multiple aspects of healthcare and
wellness. Some of the most notable ones are:
1. A Rise in the Usage of Wearable Devices
A boom in fitness trends has accelerated the demand for wearable
devices. Smartwatches, fitness trackers, and smart jewelry have
become a part of an individual’s wardrobe and accessory.
A fitness-conscious population coupled with an increasing prevalence of
chronic diseases has contributed to the surge of wearable devices.
Providing real-time information on the user’s overall well-being, these
devices have found an increased adoption among the masses.

4. No wonder the global wearable technology market pegged at USD
40.64 billion in 2020 is expected to grow at a CAGR of 13.8% from 2021
to 2028.
The growing popularity of IoT-connected devices, increase in
smartphone penetration, and positive growth prospects of next-
generation displays will further fuel the growth of wearable devices and
make them an integral part of an individual’s lifestyle.
Leading fitness players are also leveraging advanced machine learning
algorithms to harness data-mined insights that facilitate personalized
workout and diet plans in line with the individual’s unique health profile
and objectives. This has significantly improved the results for many
users, driving them to stick to tech-led platforms.

5. 2. Growing Preference for Telehealth
While telehealth always made a strong case, the Covid-19 pandemic
accentuated its adoption by leaps and bounds. For instance, while
telehealth accounted for less than 5% of India’s overall healthcare IT
market before Covid-19, it rose to 47% during the pandemic. Also,
earlier there were no proper guidelines on telehealth. The pandemic
changed the situation drastically forcing the Government to come out
with definitive guidelines.
Globally, there has been a marked increase in the downloads of
different telehealth apps. For example, the patient companion app for
Intouch health had around 2300 downloads in 2019 but over 22,300 in
Q2, 2020 – an increase of around 870%. Similarly, Medispourt’s V2MD
app increased from 50 in 2019 to around 4100 in Q2, 2020, an increase of
8270%.
Even otherwise, the multiple benefits that telehealth brings to the table
are accelerating people towards adopting this mode of consultation
with doctors and caregivers.

6. The fact that telehealth gives all individuals the opportunity to access
quality healthcare irrespective of their background is catalyzing its
growth. Also, by making digital solutions more inclusive, healthcare
companies are reaching out to individuals at remote places with limited
mobility. It helps to provide them the much-needed care they have
been deprived of for years.
3. Rising Importance and Adoption of Digital Health Coaching
Delivering personalized, insight-driven programs and wellness
solutions to help individuals better focus on their health and well-
being, digital health coaching has come a long way. It’s not only
individuals who are embracing digital health coaching.
Even companies are embracing health coaching. They are recognizing
the strategic business advantage they have with a physically and
emotionally healthy workforce. With employee health care costs
skyrocketing, many employers are feeling the pinch. In addition to low
productivity, many are experiencing higher rates of absenteeism and a
decline in organizational morale.

7. To solve this problem, they are turning to health solutions like
digital coaching. These not only improve the health of their
employees but also positively affect their total business
environment. Digital coaching helps to create personalized
interactions with the use of intelligent technologies, behavioral
science models and theories.
Through digital coaching, new-age players are allowing people to
follow their own fitness and overall well-being regimes under the
guidance of a virtual trainer. The fact that it is low cost and can be
deployed across the population is further fuelling its adoption
among organizations and individuals.

8. 4. Digital Wellness Solutions for Holistic Healthcare
Today people realize the essence of mental, emotional, and
psychological well-being. This goes beyond physical workouts. The
definition of wellness has expanded manifold, more so since the
pandemic. Today it includes healthy eating, good sleep, striking a
balance between work and life, and being mindful, among others.
With an increasing number of people taking a holistic approach to
wellness, there has been a surge in meditation and mindfulness apps.
These apps provide an enjoyable experience with readily-available and
potentially life-changing solutions which otherwise are difficult to
access.
Also, more and more people are looking for online offerings of different
workouts such as Zumba and yoga. This is driving players in the
wellness segment to embrace digitization and offer these workout
sessions in real-time.

9. Benefits of Digitization for the Industry:
For the industry, digitization entails multiple benefits such as:
Personalization: An overwhelming majority of people are willing to trade
privacy for personalization particularly in Brazil and China. This has allowed
enterprises to hyper target consumers with personalized products and
offerings.
Faster service delivery and greater customer engagement: Due to COVID-19,
the shift to digital channels has happened at a rapid pace. Some product
categories like food, skincare may still be sold through traditional brick and
mortar stores, wearable’s categories have moved to complete online models.
Hence, companies are creating omni channel digital offerings for wellness
solutions to engage with customers.
Blurring category lines: Consumers nowadays look for wellness solutions
across multiple channels and categories. They don’t want a single brand for all
wellness related needs. Companies are now building complementary solutions
to their core business offerings.
Higher Operational efficiency

10. Final Thoughts:
Digital tech will play an important role in helping people stay fit
and healthy not just today but also in a hybrid, post-pandemic
future.
A tech-savvy population coupled with growing awareness for
one’s well-being will further tilt the scales towards digitization for
wellness players. It’s high time for them to be digital-ready to
increase their clientele and enhance revenues.
Like other businesses, if you too are looking for wellness
solutions Mindfire Solutions can be your partner of choice. We
have a team of highly skilled and certified software professionals,
who have developed many custom solutions for our global clients
over the years.

11. Thanks You
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