MARKET OVERVIEW
Happygroup aims to build a multifaceted ecosystem and pioneer in the field of happiness science with many products and services of sustainable and essential value for people.
v HEALTH AND HEALTH MANAGEMENT
❑ Healthcare industry
In Vietnam, the healthcare industry market is growing rapidly. Total spending on health increased from $16.1 billion (2017) to $20 billion (2020). Pharmaceutical spending also increased to $6.6 billion in 2020.
However, the health sector is facing a big problem that is overcrowding in hospitals. Some hospitals are always operating at over 100% capacity. At the same time, a new concept referring to a major change in the medical field in recent years is the shift in focus from treatment to health management, a term that includes health maintenance, healthy living, disease prevention and rehabilitation… It is called “Smart Health.
The Global Health Institute report claims that the physical activity economy will exceed $1.1 trillion by 2023. The report also says that Asia-Pacific will overtake North America as becoming the largest market, with 40% global growth through 2023. Mindfulness movement will be the #1 growth sector (12% annualized from 2018-2023), growing from $29 billion to a market of 52 billion USD.
According to Mckinsey, the global healthcare market is estimated at more than $1.5 trillion, with annual growth between 5% and 10%.
❑ Healthcare tourism industry
The value of this industry is approximately $3.7 trillion globally, accounting for more than 5% of total world economic output. No longer a niche market for hippies or spiritual travelers, Wellness tourism now accounts for 16% of total travel industry spending. Or it is understood that for every 6 USD spent on tourism, they spend 1 USD on Wellness form.
In Vietnam, according to statistics of the General Department of Tourism in 2019, there are about 85 million domestic tourists, of which about 70% of tourist destinations are located in rural areas. In addition to relaxing and enjoying the trip, it is also about experiencing and discovering new and interesting things. With a population of over 100 million people, almost every year of that period, every Vietnamese person had at least one trip with family, friends or colleagues…
According to Business Wire, the global healthcare travel market is expected to reach $1.2 trillion by 2027, growing at a CAGR of 6.6% between 2020-2027.
The healthcare tourism market in the US is estimated at $212.7 billion in 2020. Currently, the US holds a 28.9% share of the global market. Besides the US, China is forecast to reach an estimated market size of USD 220 billion by 2027 with a CAGR of 10.5%.
Note: Mental Health numbers for 2019; the number for Physical Activity is for 2018; Figures for all other sectors are for 2017. Source: Global Wellness Institute
❑ Revenue in the meditation app segment
One of the interesting statistics for the meditation app is revenue. As reported by Statista, the revenue of meditation apps is expected to show an annual growth rate of 18.61%. In 2021 it is expected to reach USD 5,008.93 million, the market volume is expected to be USD 9,914.80 million in 2025. Average revenue per user is expected to reach USD 41.94.
With these statistics and growing health consciousness (health consciousness and governance), the future of health and wellness industry growth is rising with the way consumers access to their physical, emotional and mental health. This shows that the healthcare industry has a huge scope for organizations to make the most of the forecast and upcoming healthcare market trends.
HAPPYGROUP pioneers in the field of health science, Health care – something everyone cares about in this life. HappyZen Farm and HappyHill Sapa are two of the projects built under the model of “Happiness Meditation Center”. This is not only a place for meditation, yoga, health care but also organizes health management courses, happiness management.
❖ ART MARKET
The Global Art Market is a marketplace of buyers and sellers dealing in services, articles and artworks often related to the arts and culture sector.
In 2020 with a volume of approximately 31 million transactions, equivalent to a total value of 50 billion USD (while in 2019 there were about 40 million transactions). The total sales of the online art and antiques market have doubled in 2020 compared to the previous year.
❖ DOMAIN BUSINESS
As of January 2021, there were 4.66 billion active internet users worldwide – 59.5% of the global population. Globalization coupled with increasing Internet penetration, rapid urbanization. The growing popularity of e-commerce, the rise of blogging trends, the increasing number of websites
However, hundreds of millions of domain names are registered and there are thousands of domain name registrations every day. This means that good domain names have been or will be owned soon, it will be difficult for later users to own a satisfactory domain name for their website.
In a way, it is not too difficult for us to own a domain name. It’s for sale everywhere for $200 to $500, but there are also domains like nutifoods.com (which coincides with the NutiFoods brand) for $8,500; daidongtiencorp.com (coincides with Dai Dong Tien plastic brand) up to 10,000 USD… These are domain names associated with professions, business fields or large enterprises but have been quickly bought and sold by domainer.
Domainbank participates in this market and currently owns many domains, trademarks, copyrights …. most valuable in Vietnam.
In addition, according to a report by Technavio (a leading global technology research and consulting company), the publishing market is expected to grow by $23.73 billion between 2020-2024. This is not only a potential market but also a humane market. Happybook aims to provide a remarkable experience for you to tell stories, share knowledge and realize your creative potential. Want to be happier at work and in life? We will bring it to you! Experience Happybook in any way that works for you, from our blog of happiness articles to our great books and more!
❖ PUBLICATION MARKET
In addition, according to a report by Technavio (a leading global technology research and consulting company) the publishing market is expected to grow by $23.73 billion between 2020-2024.
HAPPYBOOK owns the Happy Stories book project in different countries, in 2017 Happybook published Happy Stories in Vietnam, in 2018 published Happy Stories in America (author Mr.Happy). Happybook also plans to publish digital books in many countries and the digital publishing platform is one of the projects to change the publishing platform of countries.