Opportunities for industry
The changing healthcare market, which is seeing a growth in public spend on wellness and increasing treatment and care costs, has created an exciting opportunity for the AWRC and its partners to impact on communities and grow their businesses, by developing innovations that help people move.
Ageing populations and the continual improvement in care capabilities are placing considerable financial strain on healthcare systems around the world. With the funding crises facing the NHS and the political turmoil which surrounds health insurance provision in the United States, we are living through a period of incredible change.
The consumerisation of healthcare is having a huge impact on the provision of health services, health consumers are changing, and increasingly spending on products and services designed to improve overall health and wellness, rather than treating an existing condition. In tandem, employers and governments are investing in cost effective prevention, alongside traditional care.
Technological advancements can now provide data which is valued by consumers, and support the development of a growing range of products which define health and wellness. This is an exciting and rapidly growing market - demonstrated by Fitbit, having been founded in 2007 it was then valued by many investment commentators at more than $8bn in 2015.
The AWRC seeks to be a pioneering institution at the global forefront of this new technological wellness market, with industry and academia collaborating to
- develop new concepts and products for this global wellness market, which Forbes has valued at $1.2bn
- prove 'what works' - using the AWRC's research expertise and its access to unrivalled networks of research cohorts
- use this knowledge to deliver and evaluate effective products to generate commercial value and wellness benefits to individuals, their employers, and over the long term, global healthcare systems
The AWRC have established a number of strong partnerships to date and seeks to work with many others to help open up these markets, to improve health and happiness through developing innovations that help people move. Why not join us on this journey? Contact Dr Chris Low hwbcjl@.shu.ac.uk