The Medical Wellness Market to show exponential settlement at a CAGR of 14.1% between 2021-2031

New York, United States, 2022-Apr-22 — /EPR Network/ —

The Medical Wellness Market is destined to grow on an impertinent note, at a CAGR of 14.1% between 2021-2031. Personalization has taken over almost every sphere of the industry verticals, and healthcare is no exception. People have started looking at their healthcare picture such that they could actively take part in improving their physical and mental health on the daily basis. This personalization will be the face of the healthcare vertical in the forecast period.

As per Persistence Market Research’s latest industry analysis, the global medical wellness market was valued at over US$ 1 Tn in 2020, and is expected to exhibit a CAGR of 14.1% over the forecast period (2021-2031)

Wellness includes activities that improve health, quality of life, and level of human happiness. Nowadays, people are focusing on the preventive and proactive aspects of health, and the health economy is integrated into the industrial sector. Key areas of wellness include wellness tourism, fitness, complementary and alternative medicine, lifestyle wellness, spa and rejuvenation industry, workplace wellness, etc.

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Service providers are focusing on introducing effective services that would meet consumer demand and give satisfactory outcomes.

• For instance, in July 2020, Daybreak Health launched an online mental health therapy for teens amid the COVID-19 pandemic’s mental health crisis.

Key Takeaways from Market Study

• Personal care, beauty and anti-aging services are expected to rise at a CAGR of 12.1% over the forecast period (2021–2031).
• Based on age group, the adults segment accounted for the highest share of 66.8% in 2021.
• Among the applications, therapeutic wellness gained popularity accounting for 66.8% of market share and is expected to dominate throughout the forecast period at a growth rate of 12%.
• Based on client, domestic clients gained the highest revenue share of 53.7% at a growth rate of 12%.
• North America holds a major share in the global medical wellness market and a similar trend is expected to continue.

“Growing awareness regarding healthy lifestyle and inclination toward wellness technology are expected to boost demand for medical,” says an analyst of Persistence Market Research.

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Medical Wellness Market – Report Highlights

• A detailed overview of parent market of Medical Wellness Market
• Changing Medical Wellness Market dynamics in the industry
• In-depth segmentation of the Medical Wellness Market
• Historical, current, and projected Medical Wellness Market size regarding volume and value
• Recent industry trends and developments in Medical Wellness Market
• Competitive landscape of the Medical Wellness Market
• Strategies for key players and products offered
• Potential and niche segments, geographical regions exhibiting promising growth
• A neutral perspective on Medical Wellness Market performance
• Must-have information for Medical Wellness Market players to sustain and enhance their market footprint

Market Competition

To gain large revenue shares in the medical wellness market, leading service providers continue to rely upon acquisitions, collaboration, alliances, and service launches to provide access to safe services. Concerns of patients regarding safety are being taken care of. Many small as well as large companies, are investing in this niche market.

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