Massage Equipment Market — Global Industry Analysis, Growth, Share, Size, Trends, and Forecast | Growth Market Reports
The global massage equipment market is expected to expand at a CAGR of 9.2% during the forecast period, 2021–2028. Increasing awareness of healthy lifestyle among all age groups and wide brand campaigns aimed at promoting body fitness are major driving factors for the growth of the global massage equipment market.
Massage can be a solution for relaxing body and addressing health issues especially for the old-age group. It is one of the key techniques that helps in resolving various health problems such as osteoarthritis, blood pressure, dementia, and body pain & stiffness. As per the report of the National Institutes of Health, U.S., more than 8% of the world’s population is of the age-group of 65 plus and the percentage is expected to rise significantly to nearly 17% by 2050. Thus, the use of massage equipment is gradually popular among the old people to stay healthy and fit, thereby, pushing to drive the market growth.
Incidence of lower back pain has quite common among different age of people of the modern generation. Extended working hours, soft beddings, and lacking of physical exercise and active lifestyle exercise are key factors that cause back pain. According to a study shown by The Good Body, 10% of the world’s population are suffering from lower back pain and this number are gradually rising. Moreover, the American Chiropractic Association projected that 31 million Americans are likely to experience low back pain at any given time. Back pain is considered to be the third most common problem for which the people visit the doctor after skin disorders and osteoarthritis. Due to these factors, the demand for massage equipment is growing significantly over the years owing to its ability to deliver instant relief of the body and help in curing the body pain completely.
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Market Trends, Drivers, Restraints, and Opportunities
- Rising demand of massage equipment to release body pains and improve the flexibility of users are predicted to fuel the market growth.
- Compared to spa treatments, the massage equipment service is low-priced, which acts as a key factor for propelling the market expansion.
- Growing awareness about massage equipment and its health benefits such as improving blood circulation, relieving headaches, stress, and supporting therapy from physical injuries is likely to increase the market growth.
- Increasing number of the aging population and rising incidence of severe body pain, cramps, and fatigue are demanding for body relaxing devices. This is projected to help the market expansion.
- Availability of other alternatives such as rising trend for using relaxing music, steaming solutions, piercing, and traditional healing practices are expected to hamper the market growth during the analysis period.
- Ongoing R&D and numerous investments by some players is presenting several opportunities for the expansion of the market.
Global Massage Equipment Market Segment Insights
Chairs & Sofas segment is expected to hold a substantial share
Based on products, the global massage equipment market is divided into chairs & sofas, handheld, back massagers, and neck & shoulder. The chairs & sofas segment accounted for more than 45% in 2020 and is likely to hold a substantial share of the market during the forecast period. The segment growth can be attributed to the wide adoption of these equipment in airports, railway stations, residences, shopping malls, and other commercial offices. The key aspect of the products is that the vibration of the chair generates the secretion of melatonin, serotonin, and dopamine, which are natural muscle relaxing agents and help in releasing all kinds of stress including habitual, acute, chronic, and short term. Meanwhile, the handheld segment is predicted to expand at a robust CAGR of 10.3% during the period from 2021 to 2028. Most of these handheld equipment are lightweight, user-friendly, and inexpensive in nature, which act major factors for the segment growth.
Commercial Segment held a dominant market share
On the basis of applications, the global massage equipment market is segmented into commercial and home. The commercial segment held a dominant market share accounting for over 75% in 2020 and is projected to constitute a major share of the market in the coming years. Wide installation of the equipment across commercial units including railway stations and airports. Nowadays, the massage chairs and equipment are widely installed in lounges inside every airport. Many of these facilities are world-class platform that offers body relaxing comfort and services by reducing fatigue, relaxing body and soul, and re-energizing the travelers. On the other hand, the home segment is anticipated to expand at a rapid CAGR of 10.6% during the forecast period, 2021 to 2028. Rising disposable income and growing preference for body comfort among consumers that push to raise the demand for the equipment for home use.
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Regional Outlook
In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in North America dominated the massage equipment market by generating a revenue of more than USD 3.3 billion in 2020. The high concentration of sports enthusiasts in Canada and the U.S. and rising adoption of the machines for muscle relaxation purposes among the athletes are key factors pushing the regional market growth. Furthermore, improving tourism industry in the U.S. and Canada attracts a greater number of business travelers, which increase the spending for the massage and body relaxation therapy. However, the market in Asia Pacific is likely to expand at a significant CAGR during the forecast period. The regional market growth is attributed to growing awareness of body fitness and rising promotional activities for relaxation devices in developing economies such as China and India. Moreover, increasing establishment of body spas and fashion styling places in these countries as part of promotion of the tourism industry are key factors that drive the regional market growth.
Competitive Landscape
- Major players competing in the global massage equipment market include JSB Healthcare; Xiaomi, Panasonic; OSIM International Ltd.; Prospera; Casada International; and RoboTouch.
- Some of these businesses are involved in adopting various market strategies such as merger, acquisition, collaboration, partnership, product launch, R&D activities, and capacity expansion to increase their market share and global presence.
- Recently, Xiaomi introduced its advanced technology of a massage equipment, “Momoda Smart AI Full Body Massage Chair,” which was available for the price range of USD 953 and above. Having supported with MIJIA application system, the chair has smart control options, which can be controlled through voice assistant software, XiaoAI. The equipment has a leather seat and air bags that provide to comfort legs, shoulder, arms, and feet. A soft pressure is created all around the body of the equipment and air is released from these airbags that help remove the sense of fatigue. The equipment was manufactured with a graphene heat technology that can warm up the body in 10 seconds.
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