Sport
Growth in Organized Gym Chains along with increased Digital Penetration and adoption of Virtual Training and at-home trainings to drive market growth: Ken Research
- Digital Fitness and At- Home workouts will gain traction in the near future as majority of the population intend to make virtual classes a regular part of their routine post pandemic.
GURUGRAM, India , Feb. 14, 2022 /PRNewswire/ --
Growing trend of one-on-one personal training and small group trainings along with opening of budget gyms and advancement of technologies adopted by majority of the fitness centre will intensify the number of subscribers.
Development of the hospitality sector as a part of the Algerian government's National Tourism Development plan along with the entry of International hotel chains providing a range of amenities will result into the growth of hotel-based fitness centres.
The pandemic is expected to accelerate the transformation from offline-only to online-offline integration in leading operators. Enhancing fitness awareness and popularization of the fitness apps due to penetration of internet and increase in mobile phone users is expected to drive the market growth. The industry is experimenting with "digital fitness" by offering online classes and incorporating fitness-based apps for at-home exercise.
The report titled by Ken Research suggested that the fitness market is further expected to grow in the near future owing to growing awareness of health benefits, increasing disposable income, rising awareness regarding obesity and to overcome health issues such as cardiovascular diseases along with growth of female only fitness centers has been the major key factors which drives the demand for fitness services centers in Algeria . The market is expected to register a positive five-year CAGR of 19.4% in terms of revenue during the forecast period 2020-2025F.
The Philippines Market Device Industry was valued at PHP ~ million in 2015 and registered a positive growth during the review period of 2015-2020 reaching to a value of PHP ~ in 2020. The market is currently in Growth Stage, with an increase in number of hospitals, high prevalence of chronic diseases, rising instances of heart and kidney failures, expanding elderly population, awareness towards health checkups, incoming of medical tourism and onset of COVID-19 pandemic as some of the key drivers for the market. Medical Device Industry in the Philippines is currently import oriented, especially for highly technological machineries such as Diagnostic Imaging, Cardiac Devices, Respiratory products and others. Current demand reflects healthcare requirements for growing incidence of hypertension, diabetes/kidney diseases, TB/respiratory ailments, cancer, and some incidence of HIV/AIDS.https://www.kenresearch.com/healthcare/general-healthcare/philippines-health-tech-market-outlook-to-2025/414450-91.html
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.
Israel is a leading fitness and wellness destination with abundance of wellness retreats, spa breaks, and boot camps offering in a fitness center with state-of-the-art equipment. Growing awareness regarding balanced lifestyle, access to low-cost budget fitness centers and growth of well equipped gyms with state-of the art equipment are fueling the market growth. Opening up of ladies dedicated gyms such as Fitwell Ladies Fitness Centers with female professional trainers to guide woman's pursuing exercises has created new segment and increased the female memberships in the country.
Ken Research
Ankur Gupta , Head Marketing & Communications
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