The global wellness industry grew from a $3.36 trillion market in 2013 to $3.72 trillion in 2015, according to research released Monday by the Global Wellness Institute.
The findings were recently presented at the Global Wellness Summit in Kitzbühel, Austria — and the in-depth report, the 2016 Global Wellness Economy Monitor, with detailed data on regional and national wellness markets, will be released in early 2017.
Here are five other research findings.
1. The wellness industry now represents 5.1 percent of global economic output.
2. Wellness expenditures are now nearly half as large as total global health expenditures ($7.6 trillion).
3. Among the 10 wellness markets analyzed, the fastest growing from 2013 through 2015 were:
- Preventative/personalized medicine and public health (+23.5 percent)
- Fitness and mind-body (+21.4 percent)
- Wellness lifestyle real estate (+18.6 percent)
- Wellness tourism (+14 percent)
- Healthy eating, nutrition and weight loss (+12.8 percent)
4. The researchers also forecasted five wellness markets through 2020, with wellness tourism projected to be the No. 1 growth leader at 7.5 percent annual growth expected.
5. In a statement, Ophelia Yeung, senior research fellow at GWI, said the institute expects big wellness spending by consumers, governments and employers will continue due to an emerging global middle class, a rapidly aging world population, a chronic disease and stress epidemic, the failure of the 'sick-care' medical model, and a growing subset of (more affluent, educated) consumers seeking experiences rooted in meaning, purpose, authenticity and nature.
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