HEALTH AND WELLNESS MARKET ANALYSIS

Whilst In my Technology role at Longevitie Health and wellness, Inspired by the brilliant Chief Physician Executive Dr. Bernice “Natalie” Penha. I explored the various possibilities to promote a doctor’s passion and expertise. I dived head first into what is a massive and complex landscape known as the health and wellness industry. The tasks necessary to achieve the objective are vast in scope and overwhelming for sure.

It really is no surprise that other, more niche industries are jumping on the wellness bandwagon because of the considerable surge in demand, which the industry is undergoing. Furthermore, the wellness industry itself does not seem to be slowing down: its expenditures are over half as large as total global health expenditures ($7.3 trillion), and it alone accounts for 5.3% of global economic output. Still, it remains to be seen whether attempting to align with the growing demand for wellness will serve parallel industries (outside of health & fitness) in the long term.

One thing is for sure, “Personal Care, Beauty & Anti-Aging” is the industry’s largest sector, and accounts for almost $1.1 trillion in expenditures. The category’s growth is unsurprising: There’s an increasing overlap between the wellness and beauty industries, and in the past year the latter has fully pivoted towards skincare—which is dominated by the anti-aging category—and away from color cosmetics and makeup.