The Health And Wellness Global Market Report 2023, provides comprehensive information on the health and wellness market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Health And Wellness Global Market Report 2023, the market size is expected to grow from $4,951.16 billion in 2022 to $5,319.44 billion in 2023 at a compound annual growth rate (CAGR) of 7.44%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global health and wellness market size is expected to reach $7,357.71 billion in 2027 at a CAGR of 8.45%.
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Product innovations are the key trend gaining popularity in the health and wellness market. Major companies involved in the health and wellness market are focused on innovating new products to improve their observation power and sustain their position in the market. The latest technologies such as augmented reality (AR), virtual reality (VR), Internet of Things (IoT), and blockchain are being increasingly integrated into various industries and applications, including in the health and wellness space. For instance, in October 2021, Apple Inc., a US-based multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services launched the Apple Watch Series 7, which offers several health uses, including monitoring heart rate, blood oxygen levels, and taking an electrocardiogram (ECG). It also offers features to help users monitor and improve their sleep, and personalized coaching to help users reach their fitness goals.
The health and wellness market is segmented:
1) By Product: Nutritional Supplements, Fitness Equipment, Organic Foods And Natural Products, Vitamins And Minerals, Health And Beauty Products, Weight Loss And Diet Programs, Other Products
2) By Distribution Channel: Online, Offline
3) By Sector: Personal Care, Beauty, And Anti-Aging, Healthy Eating, Nutrition, And Weight Loss, Wellness Tourism, Physical Activity, Preventive, Personalized Medicine And Public Health, Traditional And Complementary Medicine, Spa Economy, Other Sectors
North America was the largest region in the health and wellness market in 2022.
The table of contents in TBRC’s health and wellness market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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