With the reduced in-person doctor-patient visits, the importance of remote home monitoring today is truly paramount, says Vishal Gondal, founder & CEO, GOQii (Representative image)The onset of the Covid-19 pandemic has changed the manner of healthcare delivery. For one, it has brought digit therapeutics to the forefront of the healthcare ecosystem. The past year has witnessed a surge in patients moving from in-clinic visits to digital solutions. With the reduced in-person doctor-patient visits, the importance of remote home monitoring today is truly paramount, says Vishal Gondal, founder & CEO, GOQii, in a recent interview with Sudhir Chowdhary. Excerpts:
What is the importance of preventive healthcare, especially due to the current Covid-19 pandemic?
Taking care of our health has become of paramount importance with the current pandemic situation. Given the state of ‘sickcare’ delivery infrastructure in India, we strongly believe that preventive healthcare is the only viable, long-term, mass market solution. Chronic diseases represent one of the biggest challenges faced by the healthcare systems across the world.
Indians have got more serious about their health and individuals’ lifestyles have indeed changed completely. As per the Health Risk Assessment (HRA), 50.42% of the users are either in the ‘High Risk’ or ‘Borderline’ category. This is a massive 12% improvement from last year’s figures where 62% of users fell into the ‘Unhealthy’ category as per GOQii India Fit Report 2021, a result of a year-long study of 5 million GOQii users that presented a holistic overview on the health and lifestyle of Indians across different parameters. Most people are confined to their homes and that has had a huge impact on their immunity. It has become imperative for an individual to take care of his or her health on priority and the change is being observed.
What is the current market scenario growth for wearable devices?
Smart devices have become an essential commodity to help detect vital parameters and help individuals self-monitor themselves during these unprecedented pandemic times. Wearable technology presents many compelling opportunities for improving healthcare. The use of wearables can enable healthcare consumers to analyse their biomarkers, receive digital coaching services and benefit on their insurance plans. It also enables the medical community to use biomarker analysis in remote prognosis and treatment. There has been a significant increase in the sales of cycles, fitness trackers, equipment, etc.
GOQii has also seen a definitive increase in its consumer base, thus it’s clear enough that the market is expanding for wearable devices. GOQii’s Smart Vital watch and the latest offering Vital 4 device is designed to be a doctor on your hand. These devices monitor vital health parameters of an individual including body temperature, blood oxygen saturation, heart rate and blood pressure.
People have become more conscious of their health and as a result personal trainers are seeing a significant increase in online training. GOQii Play and PRO, the interactive online training platforms, have seen more players join online on a daily basis to exercise, do yoga, meditation, etc. Nutritionists and doctors are seeing a lot more online consultation.
What is GOQii’s business strategy for growth and expansion plans?
GOQii has an advanced health ecosystem that consists of a fitness tracker and a care team which includes personal coach, health expert, doctors and diagnostics. It brings all the user health data on to a single platform from which it can be analysed by the care team. This allows for the user to receive personalised health advice as per their lifestyle and habits. We aim at changing the lifestyle of people and enable a healthy life and lifestyle for them. Expansion plan involves conquering international markets, which got delayed due to Covid. As the travel restrictions are removed, we will soon enter UK and Southeast Asia.
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