LONDON--(BUSINESS WIRE)--The global wellness real estate market is expected to post a CAGR close to 8% during the period 2019-2023, according to the latest market research report by Technavio.
Green buildings form an essential part of the global wellness real estate market in both the commercial and the residential segments as they enable biophilic design and the development of WELL building standards. The demand for green buildings is further catered by the rise in the number of global green organizations and other federal organizations, which are launching various programs to convert the existing buildings into green buildings, thereby driving the growth of the global wellness market. Geographically, the demand for green building is particularly high from the Middle East and North Africa. The governments operating in these regions are opting for various green building certifications and green building ratings associated with a building.
As per Technavio, the increased emphasis on workplace wellness will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global wellness real estate market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
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Global wellness real estate market: Increased emphasis on workplace wellness
The emphasis on workplace wellness is increasing due to the rise in the freelance economy and remote working spaces, co-working facilities, and wellness programming initiatives. As a result, corporate organizations across regions are seen undertaking wellness initiatives such as on-site fitness centers and yoga classes in workplaces. For instance, several companies are offering its employees an on-site fitness center, comprising a swimming pool, rock climbing wall, and gymnasiums. Similarly, companies are also providing confidential support to its employees to deal with work-related stress issues, along with other issues such as substance abuse, depression, and anxiety. Thus, these workplace wellness initiatives will drive the wellness real estate market, especially in the commercial building sector.
“To achieve a greater competitive advantage, many international wellness real estate companies are seen increasingly entering into collaborations and partnerships with regional vendors to operate in the market. Thus, with such collaborations and initiations, the market is expected to show a positive outlook during the forecast period,” says a senior analyst at Technavio.
Global wellness real estate market: Segmentation analysis
This market research report segments the global wellness real estate market by end-user (commercial and residential) and geographical regions (North America, APAC, Europe, MEA, and South America).
The North American region led the market in 2018, followed by APAC, Europe, MEA, and South America respectively. However, during the forecast period, the APAC region is expected to register the highest incremental growth due to the rising number of wellness real estate projects in countries such as India, China, Australia, Singapore, Malaysia, and Japan.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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