The pandemic has brought health and wellness to the fore, across all consumer segments. Companies in sectors as wide-ranging as financial services and consumer goods & services have embraced opportunities in improving human well-being.
For instance, Honda recently debuted an "antiviral mask" for cars. The Japanese car maker introduced a new filter in its vehicles’ climate control systems that promises to clean more than 99.8% of airborne particles in cars’ cabins within 15 minutes.
“We want to make drivers feel safe and comfortable even when they keep their car windows closed in cold weather,” said Takaharu Echigo, who is in charge of the product development.
Mastering innovation that spotlights well-being isn’t easy. Forerunners in our study set themselves apart by:
Thinking more than their peers about preventing illnesses, rather than focusing only on inventing cures. With the help of advanced technology, 83% of Forerunners are planning to invest in early disease detection and personal well-being services.
Creating new business models designed to respond to new market demands. 49% of Forerunners, as compared to 29% of others, plan to launch new business models to seize future opportunities related to individual well-being.
A large diagnostic medicine group in Latin America set up a new technology company to develop an open health platform. The platform facilitates access to telemedicine services and medical records management at a single location. It integrates chronic disease prevention services that, along with predictive and health analysis algorithms, will help assess patients’ risk and offer personalized treatments—improving clinical outcomes and reducing costs for many.
Forerunners are attracted to opportunities related to improving preventative healthcare and individual well-being.
Most attractive opportunity in human-centric innovations
Percentage of respondents who selected top ranked
Companies that prioritize care-centric innovations in the next five years (Forerunners, n=114; Other companies, n=816) Source: Accenture Growth Markets C-level Survey, September - October 2020