LONDON--(BUSINESS WIRE)--Technavio has been monitoring the wellness tourism market and it is poised to grow by USD 315.47 billion during 2020-2024, progressing at a CAGR of over 7% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries. However, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have a low impact on the wellness tourism market. The market growth in 2020 is likely to increase compared to the market growth in 2019.
Frequently Asked Questions-
- Based on segmentation by type, which is the leading segment in the market?
- The domestic segment is expected to be the leading segment based on type in the global market during the forecast period.
- What are the major trends in the market?
- Emergence of online wellness aggregators is one of the major trends in the market.
- At what rate is the market projected to grow?
- Growing at a CAGR of over 7%, the incremental growth of the market is anticipated to be USD 315.47 billion.
- Who are the top players in the market?
- Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. are some of the major market participants.
- What are the key market drivers and challenges?
- Growth in personal wellness awareness is one of the major factors driving the market. However, the perception of wellness tourism as a luxury travel market restraints the market growth.
- How big is the North America market?
- The North America region will contribute to 33% of market growth.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Aspira Spa, Clinique La Prairie, Gaia Retreat & Spa, Hand & Stone Franchise Corp., HOT SPRINGS RESORT & SPA, Kempinski Hotels SA, Lanserhof GmbH, Marriott International Inc., ME SPE Franchising LLC, and Rancho La Puerta Inc. are some of the major market participants. The growth in personal wellness awareness will offer immense growth opportunities. In a bid to help players strengthen their market foothold, this wellness tourism market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Wellness Tourism Market 2020-2024: Segmentation
Wellness Tourism Market is segmented as below:
-
Type
- Domestic
- International
-
Geography
- North America
- Europe
- APAC
- South America
- MEA
-
Application
- Physical
- Psychological
- Spiritual
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44998
Wellness Tourism Market 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The wellness tourism market report covers the following areas:
- Wellness Tourism Market Size
- Wellness Tourism Market Trends
- Wellness Tourism Market Analysis
This study identifies the emergence of online wellness aggregators as one of the prime reasons driving the wellness tourism market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Wellness Tourism Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist wellness tourism market growth during the next five years
- Estimation of the wellness tourism market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the wellness tourism market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of wellness tourism market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Market characteristics
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Physical - Market size and forecast 2019-2024
- Psychological - Market size and forecast 2019-2024
- Spiritual - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- Domestic - Market size and forecast 2019-2024
- International - Market size and forecast 2019-2024
- Market opportunity by Type
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Aspira Spa
- Clinique La Prairie
- Gaia Retreat & Spa
- Hand & Stone Franchise Corp.
- HOT SPRINGS RESORT & SPA
- Kempinski Hotels SA
- Lanserhof GmbH
- Marriott International Inc.
- ME SPE Franchising LLC
- Rancho La Puerta Inc.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
-
List of abbreviations
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