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The Rise of Female-Only Fitness Centres, Online Fitness Apps along with Growth in Boutique Gyms are driving the Commercial Fitness Market in the country: Ken Research
Growing interest in fitness among the middle class along with the rise of lower-cost alternatives such as GymNation, MetroFitt, and Snap Fitness is expected to disrupt the industry.
Increasing health awareness post COVID along with significant growth in all women gyms as rules are liberalized for women in UAE will increase active participants in fitness centers. As outdoor exercise avenues such as gyms and fitness centers have closed or are offering restricted access, indoor exercise options are leading customers who are fitness oriented towards at-home alternatives for a healthy and active lifestyle.
The report titled by Ken Research suggested that the fitness market is further expected to grow in the near future owing to growing health conscious population, increasing disposable income, rising awareness regarding obesity and to overcome health issues such as diabetes, hypertension and cardiovascular diseases has been the major key factors which drives the demand for fitness services centers in UAE. The market is expected to register a positive five year CAGR of 10.9% in terms of revenue during the forecast period 2020-2025F.
Philippines Health Tech Market had a slow growth initially. The slow growth corresponded to poor internet penetration and lack of technology awareness. Unorganized health tech infrastructure and a less tech-savvy population led to the accumulation of unharmonized healthcare data. The government faced a major difficulty when the healthcare challenges kept on increasing with the growing population. Increasing need and high government interest positively drove the Philippines health tech industry.
Indonesia Health Tech market grew at a very high growth rate over the review period 2017-2020 and was further supported by an increase in health awareness among the younger population, the advancement of technology in the market, introduction of new platforms in the market. The entry of domestic players with international investments has also contributed to the same. Strong growth was observed in Indonesia's health tech industry majorly due to high-end user demand.
The India Consumer Wearable industry has grown at a CAGR of 32.0% on the basis of revenue over the period 2015-2020. The young demographics and high disposable income in the country is one of the largest growth drivers of the industry. Continuous investment in research & development and marketing activities by the wearables manufacturers is positively impacting the industry's growth.
Egypt Fitness Services Market is a largely under-penetrated market with less than % of the population actively participating in a Fitness Centres. Rising disposable income accompanied with improvement in infrastructure pertaining to fitness centres are fueling the market growth. Tech-enabled high-end fitness offerings, usually backed by strong social media credentials and cult following along with budget fitness chains are expanding in Egypt .
Ken Research
Ankur Gupta , Head Marketing & Communications
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