The Global Wellness Industry Is Now Worth $6.3 Trillion
A new report describes the wellness-industrial complex as larger than the pharmaceutical industry.
The pool at Claridge’s hotel in London. The spa and pool were designed by Andre Fu.
Source: Claridge’s
The global wellness industry was worth $6.32 trillion in 2023, according to a new report from the Global Wellness Institute, a leading industry group. That’s 25% larger than it was in 2019, making it bigger than the sports and pharmaceutical industries.
“Growth was even stronger than we predicted,” says Katherine Johnson, one of the authors of the Global Wellness Economy Monitor. She added that the wellness industry was boosted by the focus on health and well-being as a result of the pandemic. Research from the nonprofit argues that trends such as an aging population, chronic disease and an increased focus on mental health are helping drive growth.