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Founded in October 2022, Tarrywell is a new entrant in the fast-growing wearable technology market, having recently launched an AI health app designed exclusively for Apple Watch.
According to industry research, the wearable technology market is expected to reach more than $64 billion by 2024, demonstrating strong demand and opportunities for innovation. As of December 2022, it is estimated that more than 115 million people are using his Apple Watch. In 2021, 16% of all U.S. adults own an Apple Watch, indicating that Tallwell's eligible market segment spans a considerable range. With Apple Watch accounting for more than 57% of the global smart wearable market, Tarrywell chose the data accessibility channel, which is known for its security and protection of its user base.
How does Tarrywell work?
The company securely collects data from the Apple Watch Health Kit, measures health data and converts it into wearable health data, making it simple and easy to use. Additionally, users receive a comprehensive “Know Your Numbers” report weekly, providing deeper insight into their main scores. It also scores individual attributes such as BMI, sleep hours, daily steps, and resting heart rate. The scoring of these attributes and their temporal dynamics are also available on the KYN site. This report provides practical tips to help users achieve their personal goals. Know Your Numbers is a valuable tool for keeping track of your weekly shifts while helping users make informed decisions and adjust their habits to achieve their health goals.
Tallywell's innovation uses an easy-to-understand health risk score modeled after FICO and driven by ML predictive models. FICO stands for Fair Isaac Corporation. FICO pioneered the method of calculating credit scores based on information collected by credit bureaus. The company's predictive health scores utilize ML models, leverage publically available medical and clinical data, and create bespoke technology for both hardware and software. . As a company, the company prioritizes the security of personally identifiable information (PII) and emphasizes the importance of using data collectively to improve human health. With a promise not to monetize your personal data, your data will be accessed securely and your focus will remain focused on improving your overall health.
Last week, we spoke to three of Tarrywell's founders, Candace Pike, Aaron Holloway, and Dr. Luigi Vacca, about why they started Tarrywell and found out that Apple Watch users It was clear that their passion for helping people manage and improve their health was simply contagious. They all understood that not only are we in a global health crisis, but we are also in a mental health crisis in North America.
To put this more concretely, the health of Americans has declined precipitously over the past 20 years. In 1999, one in three adults had a healthy obesity level. This means they have a healthy weight and are not overweight or obese. By 2018, that number had fallen to 1 in 4 Americans. In 2019-2020, 20.78% of adults also experienced mental illness. This equates to more than 50 million Americans. According to the World Health Organization, approximately 450 million people currently suffer from mental illness, making it the leading cause of disability worldwide. Here, where I'm from, more than 6.7 million people are affected. In fact, one in two Canadian girlfriends have or have had a mental illness by the time they reach the age of 40.
Given the magnitude of health-related challenges, there are also encouraging signs that increasingly health-conscious consumers are a major growth segment of Tarrywell's target market. Fortunately, companies are starting to accelerate their efforts to address personal health issues, and these alarming statistics are slowly changing as more health advocates commit to health and enroll others. will be visible.
Health-conscious people are keen to closely monitor their health metrics and gain data-driven insights to optimize their health. Tarrywell customers receive personalized recommendations to improve or maintain their health. Tallywell customizes reports and scores based on your unique health data and provides actionable next steps to improve your health, all in the same comfort and experience.
Although Tarrywell will ultimately cater to a variety of demographics, its initial target customers are individuals between the ages of 25 and 60 with enough disposable income to invest in health management and optimization. . This group tends to be highly involved in mobile apps and wearable technology, providing an ideal audience for our products.
Although Tallywell has strong competition from other health scoring apps such as Rook, Oura Readiness Score, Whoop, and FitBit's Daily Readiness Score, Tallywell has a very strong competition with its proprietary machine learning technology, the “Know Your Numbers” report. cleverly differentiated. , similar to credit scoring techniques. It is also a free app at the moment.
research source
GitNux Apple Watch statistics
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