In 2022, the Global sports tech market was valued at $16.6 billion. By 2030, the market is projected to reach nearly $55 billion!
An Interesting article posted in Forbes by Christoph Sonnen discusses the predicted trends for the sports and health technology industry in 2023. Christopher, the CEO of a leading sports and health tech investment company anticipates that fandom and the fan experience will take center stage in the sports technology space, with increasing attention on women's health and testing and monitoring technology in the health tech space.
The article highlights the growing market potential for FemTech, which has been historically underfunded and understudied. The interest in FemTech is on the rise, and the sector has the potential to create some real tech unicorns while driving much-needed growth and change for an under-represented segment of the market.
The healthcare market is undergoing a massive transformation, shifting from “reactive” care to a more proactive model, centered around digitization, preventive and personalized individual needs. Wearable devices and artificial intelligence can track and monitor health data, identify health problems before they become serious, and provide personalized solutions to take more control of their health. The developments in advanced wearables are helping to fuel the trend of remote patient care and bring tech out of the labs and into the hands of consumers.
The article also discusses the trend of diagnostic biomarkers, which offers the potential to improve the overall quality and efficacy of care both remotely and in a clinical setting. The adoption of voice recognition and AI as new channels for patient care is helping to drive this evolution. Vocal biomarkers can be studied and used to find early indicators of a patient's likelihood of ADHD, stress profile, and mental health issues.
The article emphasizes the need to stay on top of these trends, as they are expected to have an enormous impact on the general population in the next five to ten years.
Read the Full Forbes Article here