FEED-BACK.COM E-ZINE
MARCH 2006 Volume 9 Issue 2
Biometric Monitoring: Fitness & Health Care Markets
Consumer spending in the U.S. fitness and health club segment accounts for an estimated $15 billion annually. Exercise spas that combine body work with yoga, specialty franchises such as Curves for Women (Waco TX), and venues with strength training options are examples of facilities that appeal to women. Biometrics offers motivated individuals new ways to capture data and analyze their achievements.
Historical Perspectives:
Development of medical fitness businesses can be traced back to Cooper Aerobics Center (Dallas TX), which was established in 1970. The target demographic includes older individuals who seek personalized programs to deal with specific health concerns or diseases, usually with emphasis on management and prevention.
In 2000, there were an estimated 17,00 fitness and health clubs operating within the United States. After entering the market in 1995 with one location, Curves for Women grew to approximately 6,000 facilities in 2005.
The rise in popularity of fitness monitors occurred in roughly the same time frame. The outlook for fitness/health biometric monitoring, however, has not developed as quickly. A report published in 2000 by the California HealthCare Foundation (Oakland CA), Health e-People, offered a five year forecast of e-health markets. In addition to reviewing online interests and information usage, the report identified Internet-driven opportunities and cited the Life Shirt as an example. By 2002, wireless appliances that addressed health needs such as biometric monitoring were expected to proliferate. A more recent report published in April 2005, Magic Mobile Future, 2010 - 2020, presents a more conservative analysis, noting that individuals' proactive efforts to stay health will drive demand for more sophisticated monitoring tools by 2020.
Expectations & Forecasts:
A report published in April 2005, Magic Mobile Future, 2010 - 2020, presents a more conservative analysis, noting that individuals' proactive efforts to stay healthy will drive demand for sophisticated monitoring tools by 2020. A brief overview of fitness and health oriented biometric products and services suggest that this is an emergent market. As noted in "Wireless Vital Signs Update", seven companies were highlighted as viable competitors with systems that ranged from hand-held electrocardiogram to pulse oximetry devices and wearable physiological monitors such as the LifeShirt. By year-end 2006, systems from BodyMedia, EKGuard, and VivoMetrics (Life Shirt) may be commercially available.
Several other competitors currently participate in market niches. An online search conducted in early 2006 by Feedback Research Services (Feed-back.com) identified Telzuit Technologies (Orlando FL) as a company that, in August 2005, had installed the necessary hardware for a biometric monitoring center to support the BioPatch Wireless Holter Monitor. In 2004, Bioscrypt Inc. (Markham, Ontario, Canada) had already deployed biometric kiosks in "hundreds" of U.S. schools to promote fitness and healthy lifestyles.
The best opportunities for incorporating biometric technologies may come from ways to expand existing markets. For example, VivoMetrics' Life Shirt has been used in clinical trials and research project as a new tool for evaluating physiological data during "everyday activities". In 2002, the "electronic data capture clinical trial market" market generated an estimated $2 billion.
In the monitoring market, there appears to be a significant gap between athletes' "wish list" for useful physiological data and the current generation of commercially available devices. One sports enthusiast offers interesting ideas on software development that Polar Electro (Helsinki, Finland) might consider for its heart rate monitors. According to this source, desired features include tools for downloading data into a computer-friendly format and "geotagging" (analyzing parameters by favorite workout routes).
