Wellness, and Longevity is a sector to watch
When talking about wellness and longevity, we have seen an enormous growth of demands for services across, nutrition, personal appearance, mindfulness, and fitness. This does not capture all segments of the services demands but it just shows the growth in interest in the non-traditional medical offerings to address some of the personal health and wellness challenges and desires consumers are facing.
The wellness market accounted for roughly $1.5 trillion in revenues for 2020, and we are expecting the sector to continue to expand at 15% to 20% per year over the next 5 years. This growth is happening both in developed countries as well as in less affluent regions where all stakeholders are more able and willing to allocate part of their disposable income towards service and products to enhance their health, quality of lives and performances. One challenge we are working on, is to guide our corporate partners to make good choices, as the wellness market is getting increasingly saturated, creating the need to be strategic about where and how companies compete to stay away from products that are not having real impacts.
The categories we have been assessing closely, which we believe will continue to be in demand while having a positive impact on users, include the anti-aging products, bio-hackers’ products (brain performance enhancers), enhanced nutrition products, and meditation services. These are the product and service growing the fastest, pushed probably by the recent pandemic, as they are perceived as the easiest way to reach physical and mental fitness.
The companies that will succeed, will leverage these two emerging trends, ultra-personalization, and digital delivery. First, personalization of services is happening across all economic level of consumers, as everyone expects a hand-tailored personalized service, which thanks to cheap technology is viable today. Secondly, the move towards digital consumption of wellness service is growing at a very fast pace, and I predict that our cell phones and wearable devices (rings, bracelets, and neckless) will become the most affordable tools to hack into our well-being and maximize our longevity efforts.
Some Practical feedback on trendy longevity products and services
A couple of the companies and products we are testing seem to have high impact to improve wellness and longevity, and the first one includes the Oura Ring. The Oura which is the preferred tool for famous biohackers like Dave Asprey, is a health tracker that monitors vital signs such as heart rate, sleep quality, steps and body temperature. It’s different from other trackers because it’s worn on your finger, it is stylish and more accurate than most. The price is a bit steep at 299$ but it provides free analytics. And the second one is Mito-pure, a supplement nutrient that improves mitochondrial function (think of the mitochondria as the power plant of your cells) by activating mitophagy. It has been extensively evaluated and it has been shown to be safe and what it does essentially, is helping supply Urolithin A which keeps your mitochondria clean and keeps it running at its top capacity, and as a result it is supposed to keep you younger and stronger. Just for full disclosure, I am an early adopter of these products and I want to share my experience using these innovative products, and I am not working for nor representing these companies in any shape or form.