The latest market report published by Credence Research Inc. “Global Handheld Massagers Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The Global Handheld Massagers Market generated revenue of around USD 9875.5 billion in 2021 and is anticipated to grow a CAGR of over 5.5% during the forecast period from 2022 to 2028 to reach around USD 13616 billion in 2028.
The escalating fast-paced, and busy way of life in developed and emerging nations is a major driver fueling the market’s expansion. This might result in prolonged computer use, typically with poor posture, which can cause back and neck pain. In turn, this raises product demand even more in the ensuing years. Additionally, there is a growing desire for handheld massages as spas are expensive and cannot always be afforded, which presents enormous potential opportunities to industry players. However, new acupressure therapy facilities and massage parlors are predicted to restrain market expansion because their provision of services for muscle relaxation reduces the need for personal massage equipment.
The global handheld massagers market is bifurcated into type, application and geography. Based on type, the global market is segmented into arm and shoulders massage, waist and back massage, thigh and feet massage. Based on application, the market is segmented into home, office, and others. The market is segmented based on geographies such as Europe, the Asia Pacific, North America, Latin America, the Middle East and Africa.
In 2021, the North American market accounted for a significant share and was expected to grow at a substantial CAGR in the following years. This is due to a high employee population, increasing working hours, economic growth, and the large presence of product manufacturers, further increasing the regional market growth.
There are several challenges facing the handheld massagers market:
Competition: There is a large number of players in the handheld massagers market, which makes it difficult for new entrants to differentiate their products and gain market share.
Price sensitivity: Handheld massagers are considered to be a luxury item by many consumers, and as a result, they may be price sensitive. This can make it challenging for companies to increase prices or introduce new, higher-priced products.
Changing consumer preferences: Consumers are becoming increasingly health-conscious and are looking for massagers that offer specific health benefits. This can make it difficult for companies to keep up with changing consumer preferences.
Regulatory challenges: Handheld massagers are regulated as medical devices in some countries, which can create additional regulatory hurdles for companies looking to enter these markets.
Intellectual property issues: There is a risk of patent infringement for companies developing new handheld massagers, which can lead to costly legal battles.
Why Buy This Report-
- The report provides a qualitative and quantitative analysis of the global handheld massagers market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, base year- 2021, and forecast period 2022-2028.
- The report contains information related to the competitive landscape, like how the key players in the market are operating at a global, regional, and country level
- In-depth analysis of the global handheld massagers market segmentation based on type and application.
- Major countries in each region with their import/export statistics
- The global handheld massagers market report also includes analyzing the global, regional, and country levels, along with key market trends, significant players’ analysis, market growth strategies, and key application areas.
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