According to a report,“Massage Equipment Market Size, Share & Trends Analysis Report By Product (Chairs & Sofas, Handheld), By Application (Commercial, Home), By Region, And Segment Forecasts, 2019 – 2025”, published by Grand View Research, Inc., The global massage equipment market size is expected to reach USD 12.4 billion by 2025, expanding at a CAGR of 8.6% over the forecast period. Growing importance of healthy lifestyle among all age groups at the global level as a result of extensive brand campaigns aimed at maintaining fit body is projected to expand the scope for massage equipment. Additionally, hectic workstyle due to excess of 8 to 9 hours of desk jobs among working class professionals has led to increase in the occurrence of constant pain in the neck, shoulder, knee, and hip joints. Light massage at a certain interval can help the common mass overcome these issues and lead a healthy life. Thus, the corporate organizations and multi-national firms started installing massage chairs, sofas, and other equipment to resolve the everyday issues and ensure quick relaxation.
Arthritis has evolved as one of the most common ailments across the world. Affected patients suffer from swelling, tenderness, stiffness, and joint pain, which typically worsens with age. As of 2019, it was observed that around 350 million people worldwide suffer from arthritis, where 40 million patients are located in U.S. More than a quarter million of these patients were kids and 60% of the total patients in U.S. were females. Massage through various techniques can provide a huge relief to incessant pain. Neuroscientists have noticed that massage helps in activating those parts of brain, which are triggered under the influence of opioid painkillers such as codeine.
Some of the key massage equipment market players are OSIM International Ltd.; JSB Healthcare; Panasonic; Prospera; Casada International; RoboTouch; and Prospera. Product innovation is expected to remain a key success factor for the market participants over the next few years. For instance, in September 2019, Acer launched Thronos Air Gaming Throne, which has massaging functionalities embedded in the seat and can rub the back, when required. The gaming chair massages the back only as the backrest includes two balls, which move up and down against the back, giving it a relaxing feeling. The product is available for USD 9000.
Key Takeaways from the report:
By product, chairs and sofas held over 50.0% share in 2018 due to predominant use of such equipment in commercial spaces. Handheld massagers are expected to expand at the fastest CAGR of 9.6% from 2019 to 2025 as they provide convenience to the buyers
The home application segment is expected to expand at the fastest CAGR of 9.4% from 2019 to 2025 due to shifting inclination towards a healthy lifestyle among millennials and increasing use of such type of equipment in home
North America led the massage equipment market and accounted for a share of 40.4% in 2018 on account of high concentration of health enthusiasts in U.S. and Canada
New launches in terms of inclusion of smart features is expected to remain a key strategy among the market participants.
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North America led the massage equipment market and generated a revenue of USD 2.8 billion in 2018. High concentration of sports enthusiasts in U.S. and Canada is expected to remain a favorable factor for the industry growth. Additionally, improvement of the tourism industry in the U.S. as a result of increasing number of business travelers at the domestic level is projected to promote the establishment of new commercial spaces, where massage equipment could be utilized.
Asia Pacific is expected to expand at the fastest CAGR of 10.2% from 2019 to 2025. The region is anticipated to remain a lucrative market over the next few years. This growth is attributed to increasing awareness regarding body fitness among millennials in developing economies including China and India. Additionally, increased number of body spas and fashion styling places in the aforementioned countries as a result of infrastructure improvement at the domestic level is expected to promote the scope for various equipment over the next few years.
Massage Equipment Market Share Insights
Some of the key market players are OSIM International Ltd.; JSB Healthcare; Panasonic; Prospera; Casada International; RoboTouch; and Prospera. Along with collaborations and partnerships, product innovations are having a strong influence on the market growth. For instance, in June 2019, Xiaomi crowdfunded the development of new equipment, Momoda Smart AI Full Body Massage Chair. The equipment is available for USD 953 and is regulated through MIJIA application support. These equipment have smart control options, which can be accessed through voice assistant software, XiaoAI. The equipment has a leather seat and air bags all around to comfort shoulder, arms, legs, and feet. The slow intake and release of air from these airbags creates a soft pressure all around, which helps in eliminating the fatigue. The equipment is built with a graphene heat technology, which with a button click warms up the seat in 10 seconds.
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About Grand View Research, Inc.
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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