Consumer technology sales are expected to hit an all-time high of more than $ 505 billion, and the health and fitness sectors will account for a significant portion of that revenue, according to a new forecast from the Consumer Technology Association (CTA).
“Telemedicine [for example] is one of those technology-enabled services that is revolutionizing our health care not just in the US, not just in Europe, but around the world, ”said Steve Koenig, vice president of research at CTA.
Koenig gave an opening speech to the media at the Consumer Electronics Show (CES) in Las Vegas on Monday. The show opens to the public January 5-7.
COVID-19 pandemic promotes the use of telemedicine
Koenig said CTA statistics show that one in four adults attended a video conference call for medical reasons in the past year. The statistics were in line with data from the University of Michigan, which shows that one in four older Americans had a virtual doctor visit in the first three months of the COVID-19 pandemic.
“Remote patient monitoring is becoming more and more important and is really changing care,” said Koenig. For example, electronics company and CES exhibitor Omron has developed a remote patient monitoring system called VitalSight. It connects blood pressure monitors and scales with a clinical electronic patient record.
Koenig found that therapeutic devices like VitalSight have the potential to help millions of people around the world dealing with chronic diseases. People can share vital health information in real time or at regular intervals so doctors can keep a close eye on their patients.
Growing demand for exercise equipment for the home health hub
Networked training devices are also becoming increasingly popular in the context of the “health hub”. CTA statistics found that connected exercise machine sales rose significantly as a result of the pandemic, reaching nearly $ 3.8 billion in sales in 2021.
In 2022, CTA projects that connect exercise machines will grow 17 percent and generate sales of nearly $ 4.5 billion. According to the CTA, this growth suggests that health conscious consumers are finding it practical and convenient to exercise at home, even with gyms and exercise classes reopening.
For example, new immersive rowing machines for the home offer live and on-demand workouts led by athletes.
Tech offers new options in mental health care
New technologies are also expanding care options for people looking for psychological support, Koenig said, including online counseling and therapy platforms or mindfulness and meditation apps.
“Diagnosis of depression has exploded,” he said. “That’s why solutions are emerging that help people lead healthier lives, including better mental fitness and stress management.”
For all of these reasons, Koenig views health and fitness as “an emerging market opportunity that is rapidly gaining momentum”.
