State of the Market – Digital Wellness Q4 2020

Technology continues to transform the landscape of Wellness. Increased awareness on general wellness continues to drive tailwinds in the wellness technology landscape. Here, we explore a set of key themes driving funding and acquisition activity, along with new strategies being explored by leading players in this landscape.

It has been an incredible, challenging and opportunity filled 15 months since we published our first Digital Wellness report in November of 2019. In the past year, the global COVID-19 pandemic has both reinforced and accelerated the popularity of wellness as the world has coped with lockdowns, work-from-home, and general uneasiness of living in a global pandemic beyond what any prognosticator could have forecast. As we move into 2021, “Wellness” has become top of mind for most individuals, healthcare payors and providers, and increasingly enterprises. The growing popularity of technology enabled meditation, fitness, mental health, sleep and more has facilitated wellness into the broader mainstream in new and fundamental ways. With this new-found access through consumer channels, employer and even healthcare system programs, and the equally important societal de-stigmatization brought about through the pandemic, whether you call it Wellness, Wellbeing or Transformative technologies we see the market at a tipping point as individuals find, trial and ultimately integrate myriad wellbeing modalities with a more integrated view of health and being well. Not surprisingly, we see incredible investor interest in companies focusing on wellness through technology, or as we labeled it in our updated report “Wellness Technology.” We have separated the wellness technology market into three pillars:

  • Body & Physical Wellness: Food & Nutrition, Fitness, and Personal Care
  • Mental & Emotional Wellness: Meditation & Mindfulness, Therapeutics, and Other Mental Wellness Enablement
  • Workplace & Life Wellness: Corporate Wellness, Life & Community Wellness, and Physical World Wellness

This report will help to lay out the spectrum of these technologies which we define as “Wellness Technology” that are improving wellness among the population and the convergence between wellness and the broader healthcare ecosystem.  You can access the report here.