The UK fitness market is a solid investment proposition, according to a new report from OakNorth Bank.

Oaknorth provided £75 million leveraged finance for Third Space in October 2025 and a £15 million loan to Total Fitness in December 2025.

The report highlights that penetration is now at 17 per cent; fitness spend is becoming non-discretionary; socialising is becoming health-focused and there is increased demand for mental wellbeing, strength, longevity and health outcomes.

Employers are expanding into wellbeing benefits, with more than half of UK employers now offering wellbeing as a core part of their people strategy and demand has increased for mental health support, musculoskeletal services, health assessments and early intervention pathways.

Policy and regulation is also supportive of trends. The Mental Health Act 2025 is being phased in over a number of years and is likely to increase demand for community-based provision, workplace mental health support and partnerships that can help deliver prevention and early intervention at scale. 

The government has signalled a renewed focus on women’s health, including menopause support through NHS Health Checks. Investment and innovation in FemTech and women’s health services continue to broaden, spanning menstrual and fertility tracking, menopause care, pelvic health and maternity improvements.

Chief lending officer at Oaknorth, Ben Barbanel, says: “Record participation and continued innovation underpin our confidence in the UK’s health and wellbeing sector. Looking ahead we expect spring and summer to reinforce hybrid habits with consumers combining gyms, outdoor activity and lifestyle-led wellbeing. We remain keen to do more in the sector, partnering with ambitious management teams to support scalable growth through 2026 and beyond.”

The report predicts there will be continued hyper-personalisation and data-driven recovery, the integration of AI and fitness evolving into a continuous holistic lifestyle supported by real-time data, personalised programming and recovery optimisation.

OakNorth Sector Pulse for health and Wellbeing can be downloaded here.