Health and Wellness
Outlook of the wellness tourism market
According to the market research analysts at Technavio, the global wellness tourism market is expected to witness tremendous growth and will post a staggering CAGR of more than 10% over the forecast period. With an increasing number of people becoming aware of the various anti-aging and de-stressing measures, the market for wellness tourism is likely to have a positive impact in the coming years. Several men and women in countries like the US, Brazil, Mexico, China, Italy, France, and South Africa are opting for facial aesthetic procedures for a youthful appearance. Moreover, the demand for facial aesthetics is also growing due to its advantages, such as fewer scars and pain. With most surgeons and patients opting for hyaluronic acid-based and collagen-based products for such procedures, the wellness tourism market is expected to benefit from this growing awareness.
In the last few years, there has been a shift in consumer attitude towards taking ownership of one’s health. Lifestyle diseases and the failure of the conventional medical system to pre-empt and treat chronic conditions are driving individuals toward wellness and preventive services to maintain and improve their health. Going to the spas, along with other wellness activities, such as relaxation programs, healthy menu options at hotels, and fitness facilities are no longer perceived a luxury or the domain of the wealthy. Consequently, many consumers undergo massages and therapies as treatments for daily stress and chronic pain. Moreover, reflexology is also becoming a
Global outlook of the connected health market
Extensive research carried out by the market research analysts at Technavio has shown that the global connected health market will witness tremendous growth and will post an impressive CAGR of more than 26% over the forecast period. The changing healthcare scenario demands the entire healthcare ecosystem ranging from hospitals, medical practitioners, resources, insurance coverage, and regulatory framework to be well equipped to handle the increasing volume of patient information. Connected health has led to the development of new products and services based primarily on the smooth sharing of patient health data across the entire market to create a complete view of the population. Moreover, the introduction of advanced devices for patient health information and medical history provide improved visibility to doctors. This ensures the continuous monitoring of patients as the focus has now shifted to improving patient health rather than manually preparing the records. With the proper use of these solutions, smaller medical errors can be eliminated, increasing savings for hospitals and patients. Thus, the focus of healthcare is gradually shifting to consumerism, easy access, regulation, mobility to create a holistic health care services framework, and compliance, which will boost this market’s growth prospects in the coming years.
The increasing adoption of telemedicine is one of the emerging trends that is anticipated to drive this market’s growth during the predicted period. Telemedicine is the delivery of long-distance healthcare solutions with the help of telecommunications technology. For instance, Google’s Helpouts is a telemedicine
Outlook of the global feminine wipes market
Technavio’s market research analyst predicts the global feminine wipes market to grow moderately at a CAGR of approximately 4% during the forecast period. Increased awareness, brought about by the advent of new marketing strategies, and the rising consumer inclination to experiment with new products have bolstered the prospects for growth in this market. Moreover, the availability of different product variants in easy to carry packaging has prompted women to purchase such products.
The use of feminine wipes can result in significant side effects among consumers. The colorants used in feminine wipes can cause irritation and may also increase the chances of infections. However, the market for feminine wipes is slowly gaining traction due to the growing awareness and availability of such products.
Segmentation by distribution channel and analysis of the feminine wipes market
- Supermarkets and departmental stores
- Retail stores
- Health and beauty stores
- Online stores
The global feminine wipes market was dominated by the supermarket and departmental stores segment, which accounted for a market share of approximately 22% in 2015. Due to their large shelf space, the availability and visibility of products are comparatively higher. Also, the availability of a vast array of products in such stores will result in this market segment’s high growth during the forecast period.
Geographical segmentation and analysis of the global feminine wipes market
In this market research, analysts have estimated the APAC region to be the largest market
Overview of the global hair removal cream market
Technavio’s market research analyst predicts the global hair removal cream market to grow steadily at a CAGR of approximately 8% during the forecast period. The growing popularity of at-home hair removal treatments among the younger generation and the rising need to maintain physical appearances will impel the prospects for growth in this market. Also, factors such as the endorsement of hair removal creams by celebrities and the widespread availability of a large variety of hair removal creams in various stores will aid in the growth of this market during the forecast period.
Frequent usage of hair removal creams can increase the chances of acquiring an infection and may adversely affect the usage of such products. However, since this market is still in its growth stage, an increase in promotional activities will help this market to gain traction over the next few years.
Segmentation by distribution channel and analysis of the hair removal cream market
- Supermarkets or hypermarkets
- Online stores
- Department stores
The global hair removal market is dominated by the supermarkets or hypermarkets segment, which is anticipated to post an impressive market value of more than USD 1 billion by 2020. Much of this segment’s growth can be attributed to the widespread availability of a vast array of products in supermarkets. The merchandising of private label hair removal brands in front shelves is another factor that will aggrandize the growth potential of this market segment during the predicted period.
Geographical segmentation of the hair removal cream market
Global outlook of the essential oil market
The global essential oil market is anticipated to witness tremendous growth and will post a CAGR of more than 8% over the forecast period. With the increasing preference for natural products, the market for essential oil is predicted to show promising growth in the coming years. Due to rising concerns about the environment, consumers have started taking an interest in knowing the ingredients present in food and skin care products. This has compelled major retailers, such as Costco, Walmart, and Whole Foods, to bring about sweeping changes in the products they sell. Moreover, food manufacturers have also started replacing artificial colors and flavors with natural ingredients, which has, in turn, resulted in the augmented demand for essential oils and other natural ingredients. Additionally, the application of these oils has rapidly increased in the pharmaceutical segment as essential oils act as natural cures for minor ailments without any side effects. For instance, tea tree oil has antiseptic and antifungal properties and prevents acne, cold sores, warts, and burns. It is also used in vaporizers to kill germs and as a cleansing agent for problems such as foot odor.
The rising popularity of aromatherapy and other natural remedies such as massage is one of the emerging trends spurring the growth prospects for this market during the predicted period. Several cosmetic brands are using essential oils in their products and are promoting such products by highlighting the advantages of aromatherapy. Moreover, new aromatherapy products such as aromatherapy bath salts, hand cream, and massage oil are becoming increasingly popular due to their numerous health benefits.
Segmentation by end-user and analysis of the essential oil market
- Food and beverage
Overview of the global herbal supplements market
Technavio’s market research analyst predicts the global herbal supplement market to grow at moderate CAGR of more than 6% over the forecast period. With the rising awareness of the several health benefits of herbal supplements, this market is envisaged to have a positive outlook in the coming years. Functional foods comprise ingredients that boost that health and well-being of an individual. Increasing work pressure and busy schedules have restricted people to unhealthy eating habits, such as fast foods and meals-to-go, which do not fulfill the nutritional requirements. To compensate for the lack of nutrients, increasing number of individuals are opting for functional foods such as supplements in the form of powder, syrup, or tablets in their daily diet to significantly reduce the chances of developing health complications. Moreover, dietary supplements like herbal supplements are priced lower, are easy to include in food, and contain nutrients with no perceived side effects. In addition, vendors are increasing the level of awareness for such foods through health subscription and other marketing campaigns, which in turn will contribute to the growth of this market until the end of 2020.
In this industry research report, the analysts have estimated factors such as the augmented demand for dietary supplements among women to bolster the growth prospects of this market in the next four years. The use of dietary supplements in increasing among adults and especially women. The heightened use of such supplements in women is attributed to the high requirement of calcium and iron for women, as calcium is essential in lowering the risk of osteoporosis. Moreover, a diet rich in calcium and Vitamin D reduces the risk of bone fractures and also helps in regulating blood pressure. Since women also require more iron than men because of regular menstrual cycles, this market