New McKinsey healthcare research shows consumers are demanding health and wellness solutions that are data-driven and science-backed.
The latest Future of Wellness report surveyed 5,000 consumers in the U.S., China, and the U.K. to explore trends in healthcare, including women’s health, home testing, wearable devices, and aging solutions. Survey results shed light on preferences.
Importantly, this study shows a strong trend away from wellness products containing natural ingredients to products containing clinically proven ingredients.
Around half of UK and US consumers say clinical efficacy is their top purchasing factor, with only 20% saying the same about natural or clean ingredients.
This trend is strongest for over-the-counter medications, vitamins, and supplements.
In China, this trend is less pronounced, with consumers evenly divided on the importance of clinical and clean products.
Clinically Proven Wellness Products: McKinsey Advice for Healthcare Companies
- Highlight existing clinically proven products in your portfolio
- Companies with clean or natural brands can seek third-party certification to substantiate their claims and reach more consumers.
- Increase the clinical reliability of your products by: Uses clinically tested ingredients. Conduct third-party research studies about our products. Secure recommendations from health care providers and scientists. and build a medical committee involved in product development.
Home testing kits are a huge growth area. The coronavirus pandemic has turned these kits into household items.This has increased the demand for at-home kits for other areas of healthcare.
Home test kits are more convenient than going to the doctor’s office, provide quick results, and allow frequent testing.
In the U.S., consumers are increasingly interested in testing kits for vitamin and mineral deficiencies (26%), cold and flu (24%), and cholesterol levels (23%).
In China, 35% of consumers say they have replaced some in-person medical appointments with at-home diagnostic tests, which is higher than in the US and UK.
Home test kits: McKinsey advice for healthcare companies
- Cost is a major barrier for many consumers, so determine the right price/value equation for at-home diagnostic kits.
- Encourage users to take action based on their home test results and test again to assess the impact of their intervention.
- Help consumers understand test results using one of the following: Generation AI or via Integrated telemedicine servicesboth of which can be a competitive advantage.
Another strong trend is the popularity of wearable fitness devices, according to McKinsey. Such devices include wearable biometric rings with sensors combined with mobile apps that provide insights into sleep quality.
Use of continuous blood glucose monitor is also on the rise. These are placed on your triceps and provide insight into your blood sugar levels. This information can be interpreted by a nutritionist to provide personalized health guidance.
About one-third of those surveyed said they were using these devices more than last year, and 75% said they were open to using wearables in the future.
Wearable devices: McKinsey advice for healthcare companies
- There is plenty Wearable solutions for measuring fitness and sleep However, the market needs more options for nutrition, weight management, and nutrition. Mindfulness.
- Manufacturers of wearable healthcare devices can partner with data companies to drive behavior change. For example, stress level devices that measure cortisol spikes can use this data to make personalized recommendations for products related to wellness, fitness, and mindfulness exercises.
- Prioritize data privacy. Many consumers are willing to use wearable devices only if the data is shared exclusively with them.
