Digital Fitness & Well-Being - G7

The Digital Fitness & Well-Being market in the G7 country is projected to reach a revenue of US$24.54bn by 2024.
It is expected to exhibit an annual growth rate of 6.40% (CAGR 2024-2029), resulting in a projected market volume of US$33.46bn by 2029.
The user penetration rate is forecasted to be 46.65% in 2024 and is expected to reach 57.66% by 2029.
The average revenue per user (ARPU) is estimated to be US$67.60.
In comparison to other countries, United States is expected to generate the highest revenue in the Digital Fitness & Well-Being market, with US$14,820.00m in 2024.
In Japan, the digital fitness and well-being market is thriving due to the high demand for innovative health technologies and a culture focused on wellness.

Key regions: France, Asia, Japan, Germany, Italy

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Analyst Opinion

The Digital Fitness & Well-Being market in G7 countries is experiencing significant growth and development.

Customer preferences: Consumers in G7 countries are increasingly turning to digital platforms for fitness and well-being solutions due to the convenience and flexibility they offer. With busy lifestyles and a growing awareness of the importance of health, individuals are seeking accessible ways to stay fit and monitor their well-being. Online doctor consultations are also gaining popularity as they provide a convenient alternative to traditional in-person visits, especially for non-emergency medical issues. Additionally, digital treatment and care options are becoming more appealing as they allow patients to manage chronic conditions from the comfort of their homes.

Trends in the market: In the United States, the Digital Fitness & Well-Being market is witnessing a surge in demand for virtual fitness classes and personalized wellness apps. The country's tech-savvy population is embracing digital solutions for staying active and healthy. Online doctor consultations are also becoming mainstream, particularly in rural areas where access to healthcare facilities may be limited. Moreover, digital treatment and care services are being adopted to improve patient outcomes and reduce healthcare costs.

Local special circumstances: In Japan, known for its technological advancements, the Digital Fitness & Well-Being market is characterized by a wide range of innovative health and wellness apps catering to different age groups. The country's aging population is driving the adoption of digital solutions for managing health conditions and seeking medical advice remotely. Online doctor consultations are particularly popular among elderly individuals who prefer not to travel long distances for medical appointments. Furthermore, digital treatment and care platforms are integrated with the existing healthcare system to provide seamless patient care.

Underlying macroeconomic factors: The strong emphasis on healthcare innovation and digital transformation in G7 countries is a key driver of the growth in the Digital Fitness & Well-Being market. Government initiatives promoting telehealth services and investments in digital infrastructure are creating a conducive environment for market expansion. Moreover, the increasing prevalence of chronic diseases and the rising healthcare costs are encouraging the adoption of digital solutions for preventive care and remote monitoring. As the market continues to evolve, collaborations between technology companies and healthcare providers are expected to drive further innovation and enhance the overall customer experience.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on revenues and user data of relevant mobile applications and consumer electronics companies.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players, industry reports, third-party reports, and survey results from primary research (e.g., the Statista Global Consumer Survey). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, population, internet penetration, smartphone penetration, consumer spending, and healthcare spending. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.