Medical wellness is a rapidly growing industry that focuses on the preventative and holistic health care of individuals. It encompasses a wide range of products and services that aim to promote physical and mental well-being, including preventative screenings, nutrition and exercise plans, stress management techniques, and other integrative therapies.
Worldwide revenue from the medical wellness market stands at US$ 1,309.1 Bn in 2022, with the global market estimated to surge ahead at a CAGR of 14.0% to reach a valuation of US$ 5,524.3 Bn by the end of 2033.
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One of the key drivers of the medical wellness market is an increase in the number of people looking for ways to improve their health and prevent illnesses. With the growing awareness about the importance of preventative health care and the rising cost of medical treatments, many individuals are now looking for ways to take charge of their own health and wellbeing.
Another important factor driving the growth of the medical wellness market is the aging population. As people live longer, they are more likely to suffer from chronic diseases and conditions such as heart disease, diabetes, and arthritis. Medical wellness products and services can help prevent these conditions and improve the quality of life for older adults.
Companies
- Sanofi S.A.
- Pfizer Inc.
- Johnson & Johnson
- AbbVie Inc.
- Eli Lilly & Company
- Amgen Inc.
- Bristol-Myers Squibb Company
- F. Hoffman-La Roche AG
- Cipla, Inc.
- Sun Pharmaceutical Industries Ltd.
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The market is segmented into categories such as wellness centers, wellness tourism, workplace wellness and spa industry. Among these, wellness centers are expected to be the fastest growing segment in the medical wellness market. This is attributed to the increasing number of people who are looking for ways to improve their health and prevent illnesses.
The medical wellness market is also characterized by the presence of several major players, such as Canyon Ranch, Wellness Tourism Worldwide, Como Shambhala, and Six Senses. These companies offer a wide range of products and services, such as fitness programs, stress management techniques, and integrative therapies.
In conclusion, the medical wellness market is expected to continue to grow in the coming years, driven by an increase in the number of people looking for ways to improve their health and prevent illnesses, and an aging population. Businesses and entrepreneurs have an opportunities in this field to provide preventative and holistic health care, aiming at promoting physical and mental well-being of their clients.
Competition Landscape
Key players are concentrating on service updates and expansion in developing regions. Key organisations are strengthening their market presence even more through their expansion, service launches, agreements, partnerships, and developed online services.
Key instances include:
For instance, In March 2021, Everwell invested in research-backed alternative therapies alongside conventional solutions to address wellness issues from multiple angles. The company has launched the Everwell health and wellness clinic, located in Newport Beach, California. This clinic will offer a selected range of advanced wellness solutions that are designed to optimize mind and body health.
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Key Segments Covered in Medical Wellness Industry Research
Services:
- Personal Care, Beauty and Anti-Aging
- Nutrition and Weight Loss
- Fitness and Mind-Body
- Preventative and Personalized Medicine
- Traditional and Complementary Medicine
- Medical Spa
- Thermal/Mineral Springs
- Workplace Wellness
Age Group:
Application:
- Therapeutic Wellness
- Rehabilitation
- Occupational Wellness
Client:
- International Clients
- Domestic Clients
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