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New Business Trends in Health and Wellness

woman checking her smart watch after jogging

According to the US Bureau of Labor and Statistics, employment in the healthcare sector is expected to be the fastest-growing industry in America in the next decade. There are several reasons for this.

First, both the US and other nations worldwide continue to face a wide variety of healthcare challenges, including lifestyle diseases and pandemics like COVID-19. Second, people are becoming more and more health-conscious. Finally, there is a growing need for healthcare professionals. The world is aging, and as a result, more people are getting sick.

Yet, the picture is not as grim as it may seem. Challenges bring forth innovation and new ideas. When people are in dire need of something, they either find it or create it. As such, new businesses continue to rise, creating a health and wellness trend, the likes of which we have never seen before.

Investing in Health

Recently, there’s been a shift in the health industry. Instead of focusing on dealing with diseases, regular people are currently finding ways to prevent them. This is also true in new businesses, especially those related to food and nutrition. In the past, opening a fast-food restaurant was a good idea. Now, it’s much appropriate to invest in a supplement store or a natural juice bar franchise.

The same goes for exercise. Opening a traditional gym is no longer a profitable proposition. For an exercise facility to be successful, it requires specialization. Weight rooms and treadmills have given way to yoga and Pilates studios, personal trainers, and wellness facilities, including massage and meditation areas, high-tech saunas, and temperature-control pools.

Technology and Personalized Solutions

At the forefront of the health and wellness movement are tailored workout apps. There are plenty to choose from for all ages, schedules, and other personal needs. Some are free, while others aren’t. But they all have one thing in common. They are fully customizable. Besides, many of them use AI technology and have machine learning capabilities to give you the best advice for you as a unique individual.

And it doesn’t stop there. Aside from apps, companies like Dexcom and Apple continue pushing the envelope with health-related products such as the G6 Continuous Glucose Monitor and the Apple watch.

workout app recording boxing gym

Electronic Health Records

An electronic health record (EHR) is a “real-time, patient-centered version of a person’s paper chart providing secure, instant information to authorized users.” In essence, it is your medical history, right at your hands and at the hands of those you authorize. You don’t have to visit the same clinic every time. Your records can be transferred instantly from one hospital in one country to another halfway across the world. They can also be kept in your smartphone in case of an accident, no matter where you are.

EHR represents a new frontier in medical treatments. Doctors can collaborate to determine the best possible course of action for a specific patient. As a patient, you can consult several physicians at once and choose the one most suitable for your needs. Hence, they are quickly becoming available in state-owned hospitals and private clinics and practices all across the country.

As societies develop, people have more access to better resources. This is true in all business fields, including management, marketing, sales, and manufacturing. But it is especially true in the health and wellness industry, an industry where technology and innovation are perhaps more important than in any other.

It is a chance for businesses to expand their knowledge and research, a golden opportunity to develop better, healthier products and services for their customers. The health and wellness revolution is here to stay.

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