The global massage equipment market size is projected to reach USD 12.4 billion by 2025, according to a new report by Million Insights. The market is ascending at a CAGR of 8.6% from 2019 to 2025. Rising preferences for a healthy lifestyle among people coupled with various health benefits associated with massage equipment is supplementing the growth of the market. Hectic work schedule results in people suffering from various health problems such as hip joints, back pain and stress. Light massage help people against such disorders. The deployment of different massage equipment among corporate offices are also gaining traction, thus, attributing to the growth of the market.
Disorders such as arthritis have emerged as the common health ailments across the globe. Patients suffering from this often feel stiffness, joint pain, swelling and tenderness which gets worsen by growing age. As surveyed in 2019, nearly 350 million suffer from arthritis, out of which 40 million are in the U.S. Massage therapy helps in providing relief to such patient. Also, it has been found by researchers that massage triggers the same brain’s part which is done by painkillers like codeine.
Massage chairs and sofas held over 50% of the market share in 2018. Growing installation of such equipment in commercial places are further expected to bolster their growth. On the other hand, handheld massagers are projected to ascend at a rate of 9.6% over the forecast duration. These equipment are portable and can be charged when required thus, offering convenience to the users.
Leading players operating in the massage equipment market are JSB Healthcare, Casada International, Prospera, OSIM International Ltd and Panasonic among others. These players are focusing on different strategic initiatives such as merger & acquisition, new product launch and expanding their business presence.
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Further key findings from the report suggest:
• Among different products, chairs and sofas held over 50% of the market share in 2018 owing to their growing installation in commercial places. While hand held massagers are predicted to grow at a CAGR of 9.6% over the forecast period.
• The home application segment is anticipated to ascend at a CAGR of 9.4% over the forecast duration.
• North America accounted for 40.4% of the total revenue in the massage equipment market in 2018.
• Key players are focusing on introduction of new product to stay competitive in the market.
Million Insights has segmented the global massage equipment market on the basis of product, application, and region:
Massage Equipment Product Outlook (Revenue, USD Million, 2015 - 2025)
• Chairs & Sofas
• Neck & Shoulder
Massage Equipment Application Outlook (Revenue, USD Million, 2015 - 2025)
Massage Equipment Regional Outlook (Revenue, USD Million, 2015 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa (MEA)