COVID-19 impact on the growth of Global Health and Wellness Market

Post COVID-19 Impact on Health and Wellness Market

With the emergence of the COVID-19 crisis, the world is fighting a health pandemic as well as an economic emergency, almost impacting trillions of dollars of revenues.

Research Dive' group of skilled analysts provide a solution to help the companies to survive and sustain in this economic crisis. We support companies to make informed decisions based on our findings resulting from the comprehensive study by our qualified team of experts.

Our study helps to acquire the following:
o Long-term and short-term impact of Covid-19 on the market

o Cascading impact of Covid-19 on Health and Wellness Market, due to the impact on its extended ecosystem

o Understanding the market behaviour Pre- and Post-COVID-19 pandemic

o Strategy suggestions to overcome the negative impact or turn the positive impact into an opportunity
We'll help you fight this crisis through our business intelligence solutions.

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Pre COVID-19 Analysis on Health and Wellness Market

The panorama for consumer health and wellness is continuously shifting. Consumers are now focused toward making healthy changes to their lifestyle for living a better life. As people are turning their focus on a more holistic approach to their health and well-being, several brands and manufacturers are hugely investing in health and wellness products as well as services.

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The health and wellness sector covers all activities which encourage physical and mental well-being. From healthy diet, personal care, beauty, nutrition, to meditation, weight-loss, spa treatments,and wellness tourismthehealth and wellness sector takes care of offering all these facilities to customers all across the globe. Today, this sector is experiencingtremendous growth because of the growing emphasis of people on healthcare and their changing lifestyles. Also, a research report by Research Dive states that the global health and wellness market all across the globe will increase by a CAGR of 4.8% by 2026.

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Health and Wellness Market Segmentation by Product Type

o Beauty & Personal Care Products
o Health & Wellness Food
o Wellness Tourism
o Fitness Equipment
o Preventive & Personalized Health

The rise of health and wellness trends

We live in a modern era, where we have access to various luxury services that can uplift our mental as well as physical well-being. Nowadays, people are opting for spas and thermal & mineral spring treatments.These treatments are seen as a remedy to cure patients suffering from stress, hypertension, skin infections,abnormal blood circulation, and detoxification of the body. The advantages of thermal springs and health spas are majorly acting as a booster to the growth of health and wellness industry. Furthermore, risingoccurrences of chronic disorders and diseases like asthma, arthritis and cancer are increasing the adoption of health and wellness services all across the world. Whereas, rise in trends for organic and sustainable products and services are seen as a major factor boosting the popularity of health and wellness sector.
Developments in the health and wellness sector
When it comes to current health and wellness craze, there is certainly a lot to keep up with. Several companies are coming up with interesting and new products and services that promise a better life. These companies are heavily investing for discovering products or services that satisfy customers' needs.

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Key Market Players

o Abbott (NYSE: ABT)
o Johnson & Johnson Services, Inc. (NYSE: JNJ)
o The Coca-Cola Company (NYSE: KO)
o L'Or�al (EPA: OR)
o Nestl� (SWX: NESN)
o General Mills Inc. (NYSE: GIS)
o Medtronic (NYSE: MDT)
o B. Braun Melsungen AG Omron Healthcare, Inc.
o Koninklijke Philips N.V.
o LifeScan
o Animas LLC
o F. Hoffmann-La Roche Ltd

In 2019, L'Or�al, the world's leading beauty companyhas announcedpartnership withuBiome, a leader in Microbial Genomics with an aim to advance a novelresearch into the skin microbiome. These microbiomesare nothing but trillions of bacteria that live onthe skin and also act a major barrier to your skin. This collaboration connection L'Or�al's proficiency in the science of skincare with uBiome'sknowledge in microbiome research. With this partnership, the both thesebrandsaim to conduct new research on the skin's bacterial ecosystem, with a goal of providingin-depth skin insights to uBiome's global community.

Apart from L'Or�al, there are various other brands contributing to the health and wellness sector by engaging themselseves in activities like new product launches, partnerships, merges & acquisitions, and research & development activities. Some of these top brands are Nestl�, Abbott, B. Braun Melsungen AG, Omron Healthcare, Inc., General Mills Inc., Medtronic, Koninklijke Philips N.V., Johnson & Johnson Services, Inc., The Coca-Cola Company, F. Hoffmann-La Roche Ltd., LifeScan, Animas LLC,and others.

Future scope of the health and wellness industry
Be it beauty & personal care products or health & wellness food, wellness & tourism or fitness equipment, every sector of the health and wellness industry is booming. This is mainly because people today are more health conscious. Whereas, growing investments into research and development activities by various companies are fueling the growth of the industry. Considering all these factors, it is clear that the health and wellness industry in on the verge of gaining heights and bring in various novel products and services in the coming years.

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