The number of people prioritizing their wellbeing is growing all over the world. As a result, consumers’ mindset on health and wellness is changing. Let’s see what’s going on in the industry and who can best help you with a reliable and low-cost nutraceutical merchant account.
Healthcare Industry: Nutraceutical Merchant Account
The most developed countries give over 10% of the GDP to the healthcare industry. Last year, the global health industry accounted for $1.853 trillion.
Global healthcare spending is anticipated to make up more than $10 trillion by 2022. The U.S. accounts for the biggest healthcare spending: $10.224 per capita. By the way, 2018 research by the Global Wellness Institute reveals that the wellness industry was worth U.S.D. $4.2 trillion.
Now, it accounts for 5.3% of global economic output, with 60% of people worldwide using alternative therapies. This is a 12.8% increase from $3.7 trillion in 2015. Moreover, it’s projected to further increase in the upcoming few years.
What about the trends in the alternative health therapies industry? Well, the industry growth during 2014–2019 represents 0.6%. The market was valued at U.S.D. $59.76 billion last year.
So, people love to experience wellness.42% of the people having participated in a recent survey put experiences before material possession. With all this in mind, how are you going to grow your healthcare business to avoid staying behind the current trends in the market?
One thing is certain: you should work only with a secure payment processor that offers the most advanced and cheapest possible merchant services, including a nutraceutical merchant account in the space.
Sustainability and Wellness: Growing Trends
The growing consumer awareness and the need among the millennial population to improve their lifestyles have accelerated the growth of the wellness sector all around the globe. Next year, even more people will be on the lookout for alternative healing and recovery medical options for both the mind and body.
The upcoming years will bring about new trends in the global wellness industry since the major players in the field go on offering more innovative solutions. Besides, consumer demand goes on evolving.
To sum up, more and more people are opting for alternative therapies.2020 is going to be the year of self-care with more health and wellness trends emerging in the industry.
Author Bio: Blair Thomas has been a music producer, bouncer, screenwriter and for over a decade has been the proud Co-Founder of eMerchantBroker, the highest-rated high risk merchant account processor in the country that offers the most reliable and cheapest nutraceutical merchant account in the space. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favorite books.