Market Growth; Health and Wellness Industry
To provide non-anecdotal information on how often people use non-invasive cosmetic procedures, the success of businesses such as Peleton and Kensho Health, the growth of digital opinions and businesses which offer them, the growth of wearable technologies such as Whoop and Fitbit, and the growth of wellness applications such as Headspace.
- Reports show that there have been a progressive increase in the population of people who have undergone non-invasive cosmetic procedures over the years. In 2010, an estimated 3,252,430 non-invasive procedures were conducted, in 2017, the number increased to 4,168,693 procedures, as of 2018, over 17.7 million non-invasive cosmetic procedures were conducted in the United States alone.
- The global estimated market size of the non-invasive cosmetic procedure industry as of 2018 was $6.6 Billion.
- Peleton has doubled its 2018 revenue as of 2019. In 2019, it recorded a revenue of about $915 million as against a revenue of $435 million in 2018. A significant increase in revenue within 12 months indicates the successful growth of Peleton.
- Reports state that the global digital health market has experienced significant growth by 11.8% CAGR. According to forecasts, this growth will increase up to 2023. Some examples of businesses that offer this digital opinions include AT & T, Biotelemetry, Inc., Cisco Systems, AllScripts Healthcare Solutions, Inc., Qualcomm, and McKesson Corporation, to mention but a few.
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