The health coaching market is expected to grow by at least $1.7 billion, or at a 5.4 percent annual pace, by 2022, according to new research data published by Marketdata LLC, Tampa, Florida.
Additionally, markets for weight-loss programs, physical therapy clinics, sleep aid and meditation are expected to see major growth due to growing demand.
“Niche healthcare markets are multi-billion-dollar sectors with good growth histories and future potential as America ages,” Marketdata Research Director John LaRosa said in a media release. “Most sectors continue to grow and are recession-resistant. Some of these markets are ripe for consolidation and roll-ups as they are fragmented and comprised of many small operators.”
Marketdata estimates that the health coaching services market, today valued at $6.14 billion, is poised to grow to $7.85 billion by 2022. There are approximately 121,000 health coaches practicing in the United States today, and insurers will continue to hire coaches to assist with disease-prevention programs with a focus on weight management and diabetes, Marketdata said.
The weight-loss program market, today valued at $3.74 billion, is also anticipated to grow at a 6 percent annual rate to $4.8 billion by 2023. High-obesity levels ensure continued demand particularly for procedures such as bariatric surgeries.
The $34.5 billion physical therapy market is another high-demand area that is expected to grow to $45.7 billion by 2023. This market has grown steadily since 2007 because of its cost-effective approach to preventative care and surgery recovery.
Furthermore, Marketdata noted that the meditation market will grow from its $959 million valuation in 2015 to $2.08 billion by 2022. The sleep aids and sleep labs market is similarly situated and positioned to grow from $4.3 billion in 2017 to $5.43 billion in 2023.
This data was published across eight separate Marketdata reports that can be purchased here.