Medical Wellness Market Is Expected to Reach a Valuation of US$ 6,314.9 Million by 2034

According to Fact.MR's study of current trends, the medical wellness market is anticipated to generate approximately US$ 1,709.2 million in revenue in 2024 and US$ 6,314.9 million by 2034, with a projected compound annual growth rate (CAGR) of 14%.

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In 2019, the medical wellness industry worldwide was valued at approximately US$ 984.9 million. The following years saw a sharp increase in demand for medical wellness services due to the widespread adoption of preventative healthcare initiatives. In the midst of the epidemic, medical wellness services were increasingly important as a substitute for traditional treatment for individuals with mild COVID-19 symptoms. The post-pandemic years saw the global wellness healthcare sector recover its importance, despite a brief period of unrest in 2020 and 2021.

Private medical wellness businesses have become a vital component of the healthcare industry by offering wellness services and products that promote public health maintenance.

Key Companies Profiled in This Report

• Truworth Wellness
• Naluri's
• MINMED GROUP PTE LTD
• Magenta Wellness Pte Ltd.
• ASIAMEDIC LIMITED
• Mednefits
• BaliSpirit
• Sukhavati Retreat
• BDMS Wellness Clinic
• MeeHappy Wellness

Recent Developments by Medical Wellness Industry Participants

In March 2021, Everwell Inc. made a strategic entry into the medical wellness sector, positioning itself as a player dedicated to addressing wellness challenges comprehensively. Through a significant investment in complementary therapies backed by scientific research, the company set the stage for its venture into the field. Everwell Inc. demonstrated its commitment by establishing its inaugural health and wellness clinic in Newport Beach, California. This clinic serves as a hub for providing a thoughtfully curated range of revolutionary wellness products and services. The offerings are designed to address both the physical and mental well-being of patients or customers, reflecting Everwell Inc.'s commitment to a holistic approach in promoting health and wellness.

In May 2022, Halesaga, a reputable health and wellness company, announced a noteworthy expansion of its product line, introducing a new range of wellness products with an enticing 5% discount for advance purchases. This product line includes 'Plant Protein' tailored for daily nutritional needs, 'Whey Protein' aimed at enhanced muscle building, and 'Slim Shake' designed for weight control and maintenance. Notably, each product in this lineup has received approval from prominent regulatory bodies, including the USFDA, HACCP, ISO, Halal, and FASSAI. Furthermore, the products are formulated without sugar and cholesterol, aligning with contemporary health-conscious preferences. Halesaga's commitment to quality is reflected in its diverse array of customized wellness products catering to both men and women, encompassing offerings such as 'Women Weight Gainer,' melatonin supplements, and a range of essential vitamins, including vitamin C capsules, demonstrating the company's dedication to meeting various health and wellness needs.

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Key Segments Covered by Medical Wellness Industry Survey Report

• By Service Type:
o Personal Care, Beauty, and Anti-aging
o Nutrition and Weight Loss
o Fitness and Mind-body
o Prevention and Personalized Medicine
o Traditional and Complementary Medicine
o Medical Spa
o Thermal or Mineral Springs
o Workplace Wellness
• By Age Group:
o Adults
o Geriatric
• By Application:
o Therapeutic Wellness
o Rehabilitation
o Occupational Wellness
• By Clients:
o International Clients
o Domestic Clients
• By Region:
o North America
o Europe
o Latin America
o East Asia
o South Asia & Oceania
o The Middle East & Africa (MEA)

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This release was published on openPR.