Global Health and Wellness Market Size, Trends & Growth Opportunity, By Product & Services, By Sector (Personal care, Beauty, Anti-aging, wellness tourism, Physical Activity, Traditional & Complementary Medicine) By Region Forecast till 2027.
Global Health and Wellness Market
Global Health and Wellness Market was valued at $6,514.3 million in 2021 and expected to reach at $7,543.4 million by the end of 2027 with a CARG of 5.8% from 2022 to 2027. Health and wellness are an active process of achieving finest state of physical and mental presence.
Health and Wellness is defined as “the state of complete wellbeing of the body, mind and spirit.” The COVID-19 outbreak has laid increased emphasis on the importance of health and wellness. Some of the important aspects of the health and wellness industry include personal care/beauty, nutrition, weight management, fitness, preventive/personalized medicine, etc. Apart from this, services based on wellness real estate, wellness tourism, health spas and thermal and mineral springs are also given to consumers and form an integral operational part of the industry.
Market Drivers
The rising prevalence of chronic lifestyle diseases beyond the globe is one of the key factors driving the growth of the market. Owing to the sitting or inactive lifestyles and hectic schedules, the severity of diabetes, blood pressure, asthma, arthritis, cancer, dementia and other stress-related disorders has grown significantly. This has encouraged the peoples to adopt various healthcare activities, including yoga, meditation and athletics.
Additionally, the emerging trend of using wearable devices, such as fitness bands and trackers, is also providing an augment to the market growth. Moreover, the rapid growth of the wellness tourism and mineral spas sectors is also driving the market. Spa operators use specialized therapeutic waters, such as iodine-bromine and Malkinskaya mineral water, to treat various cardiovascular ailments, rheumatism, spinal column ailments, circulation disorders, asthma and bronchitis. Extra factors, including rapid urbanization and rising disposable incomes, along with the increase in the number of health-conscious consumers across the globe, are projected to drive the market further.
Market Restraints
The high costs of health and wellness products & services is a factor restricting the market growth.
Surge in concerns about complete wellness and changes in way of life has advance customers to favour various wellness services such as spa, gyms, clubs, etc., concerning to have a balanced and healthy life. However, these services are expensive and be afforded by people earning basic wages, which, in turn, is expected to hamper the market.
Certain corporate wellness services such as health risk assessment and fitness require more investment and are therefore, cut down by corporates. These factors are likely to restrain the market during the forecast period
Market Segmentation
Global Health and Wellness Market is segmented into Sector & Region. BY sector market is segmented into Personal care, Beauty, Anti -aging, Healthy Eating, Nutrition, Weight loss, Wellness tourism, Physical Activity, Preventive & Personalized Medicine, Public Health, Traditional & Complementary Medicine, Spa Economy, Others. By Region Market is segmented into North America, Europe, Asia Pacific, Latin America, and MEA.
Regional Analysis
Global Health and Wellness Market is segmented into five regions such as North America, Europe, Asia Pacific, Latin America, and MEA. North America region considered for the majority of the health and wellness market share, which was 39.7% in 2018 and is anticipated to continue its trend and occupy highest share in terms of revenue during the forecast period. As rise in demand for health and wellness services, the Asia-Pacific market is estimated to reach $1,995.7 million by 2026, increasing from $1,324.4 million in 2018.
Key Players
Key companies across the Health and Wellness market include Abbott, Loreal, Nestle, Omron Healthcare inc., Medtronic, LifeScan, Animal LCC, Johnson & Johnson Inc., Herbalife Nutrition Ltd.,
Market Taxonomy
By Sector
- Personal care
- Beauty, Anti -aging & Healthy Eating
- Nutrition, Weight loss & Wellness tourism
- Physical Activity
- Preventive & Personalized Medicine
- Public Health
- Traditional & Complementary Medicine
- Spa Economy
- Others.
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- 1 Introduction
- 1.1 Objective of the Study
- 1.2 Market definition
- 1.3 Market Scope
- 2 Research Methodology
- 2.1 Data Mining
- 2.2 Validation
- 2.3 Primary Interviews
- 2.4 List of Data Sources
- 3 Executive Summary
- 4 Global Health and Wellness Market Outlook
- 4.1 Overview
- 4.2 Market Dynamics
- 4.2.1 Drivers
- 4.2.2 Restraints
- 4.2.3 Opportunities
- 4.3 Porters Five Force Model
- 4.4 Value Chain Analysis
- 5 Global Health and Wellness Market, By Sector
- 5.1 Drug Screening Product
- 5.2 Analytical Instruments
- 5.2.1 Personal care
- 5.2.2 Beauty, Anti -aging & Healthy Eating
- 5.2.3 Nutrition, Weight loss & Wellness tourism
- 5.2.4 Physical Activity
- 5.2.5 Preventive & Personalized Medicine
- 5.2.6 Public Health
- 5.2.7 Traditional & Complementary Medicine
- 5.2.8 Spa Economy
- 5.2.9 Others.
- 6 Global Health and Wellness Market, By Region
- 6.1 Global Health and Wellness Market Share Analysis, By Region
- 6.2 Global Health and Wellness Market Share Analysis, By Region
- 6.3 Global Health and Wellness Market Size and Forecast, By Region
- 7 North America Health and Wellness Market Analysis and Forecast (2022 – 2027)
- 7.1 Introduction
- 7.2 North America Health and Wellness Market Share Analysis, By Sector
- 7.3North America Health and Wellness Market Size and Forecast, By Country
- 7.3.1. U.S
- 7.3.2 Canada
- 7.3.3 Mexico
- 8 Europe Health and Wellness Market Analysis and Forecast (2022 – 2027)
- 8.1 Introduction
- 8.2 Europe Health and Wellness Market Share Analysis, By Sector
- 8.3 Europe Health and Wellness Market Size and Forecast, By Country
- 8.3.1 Germany
- 8.3.2 France
- 8.3.3 UK
- 8.3.4. Rest of Europe
- 9 Asia Pacific Health and Wellness Market Analysis and Forecast (2022 – 2027)
- 9.1 Introduction
- 9.2 Asia Pacific Health and Wellness Market Share Analysis, By Sector
- 9.3 Asia Pacific Health and Wellness Market Size and Forecast, By Country
- 9.3.1 China
- 9.3.2 Japan
- 9.3.3 India
- 9.3.4. Rest of Asia Pacific
- 10 Latin America Health and Wellness Market Analysis and Forecast (2022 – 2027)
- 10.1 Introduction
- 10.2 Latin America Health and Wellness Market Share Analysis, By Sector
- 10.5 Latin America Health and Wellness Market Size and Forecast, By Country
- 11 Middle East Health and Wellness Market Analysis and Forecast (2022 – 2027)
- 11.1 Introduction
- 11.2 Middle East Health and Wellness Market Share Analysis, By Sector
- 11.5 Middle East Health and Wellness Market Size and Forecast, By Country
- 13 Competitive Analysis
- 14.1 Competition Dashboard
- 14.2 Market share Analysis of Top Vendors
- 14.3 Key Development Strategies
- 14 Company Profiles
- 14.1 Abbott
- 15.1.1 Overview
- 15.1.2 Offerings
- 15.1.3 Key Financials
- 15.1.4 Business Segment & Geographic Overview
- 15.1.5 Key Market Developments
- 15.1.6 Key Strategies
- 15.2 Loreal
- 15.2.1 Overview
- 15.2.2 Offerings
- 15.2.3 Key Financials
- 15.2.4 Business Segment & Geographic Overview
- 15.2.5 Key Market Developments
- 15.2.6 Key Strategies
- 15.3 Nestle
- 15.3.1 Overview
- 15.3.2 Offerings
- 15.3.3 Key Financials
- 15.3.4 Business Segment & Geographic Overview
- 15.3.5 Key Market Developments
- 15.3.6 Key Strategies
- 15.4 Omron Healthcare inc
- 15.4.1 Overview
- 15.4.2 Offerings
- 15.4.3 Key Financials
- 15.4.4 Business Segment & Geographic Overview
- 15.4.5 Key Market Developments
- 15.4.6 Key Strategies
- 15.5 Medtronic
- 15.5.1 Overview
- 15.5.2 Offerings
- 15.5.3 Key Financials
- 15.5.4 Business Segment & Geographic Overview
- 15.5.5 Key Market Developments
- 15.5.6 Key Strategies
- 15.6 LifeScan
- 15.6.1 Overview
- 15.6.2 Offerings
- 15.6.3 Key Financials
- 15.6.4 Business Segment & Geographic Overview
- 15.6.5 Key Market Developments
- 15.6.6 Key Strategies
- 15.7 Animal LCC
- 15.7.1 Overview
- 15.7.2 Offerings
- 15.7.3 Key Financials
- 15.7.4 Business Segment & Geographic Overview
- 15.7.5 Key Market Developments
- 15.7.6 Key Strategies
- 15.8 Johnson & Johnson Inc
- 15.8.1 Overview
- 15.8.2 Offerings
- 15.8.3 Key Financials
- 15.8.4 Business Segment & Geographic Overview
- 15.8.5 Key Market Developments
- 15.8.6 Key Strategies
- 15.9 Herbalife Nutrition Ltd.
- 15.9.1 Overview
- 15.9.2 Offerings
- 15.9.3 Key Financials
- 15.9.4 Business Segment & Geographic Overview
- 15.9.5 Key Market Developments
- 15.9.6 Key Strategies
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook