Size of Health and Culture Market

Issuing time:2020-09-02 22:54

[Health Market]: The big health industry is one of the largest in the world, and its largest industry is birthed in the U.S. market.

In recent years, people’s health consciousness has improved, and consumer thinking and demand have changed; the health and wellness industry has been given greater opportunities for development, and the global health market has been expanding. Meanwhile, the global outbreak of the COVID-19 has aroused people’s eager attention, and the prevention and control of the epidemic and the advancement of cure work have further promoted the demand for the health industry in countries around the world, bringing new development opportunities for the health market in each country. Among them, the industry of the U.S., a large country in the health industry, has been occupying a leading position in the global development. The U.S. has been a leading country in the global development of this industry, and it has a strong policy support for the technological development and progress of the industry.

According to data released by data.iimedia.cn, the American health market has grown steadily since 2015, surpassing $170 billion in 2018, reaching $174.27 billion in 2019; it is expected to reach $179.05 billion in 2020. China is another market where the big health industry is growing rapidly. According to the data in Market Size and Development Trend Forecast of China’s Big Health Industry in 2020, the total value of the domestic big health industry was about 6 trillion yuan in 2017 and exceeded 7 trillion yuan in 2018; by 2020, the big health industry is expected to exceed the industrial scale target of 8 trillion yuan. According to the Chinese Academy of Industry Economy Research, the market size of the national big health industry will reach 8.7 trillion yuan by the end of 2020.

[Cultural and Charity Market]: As the economy grows, the global cultural market enters a boom period. In 2018, the global gaming market grew 13.3% year-over-year, with total global gaming revenues reaching $137.9 billion. From 2010 to 2018, the global television revenues grew by an average of 6.20% per year; in 2018, the global television revenues were approximately $524.4 billion (including pay-TV revenues, public funds and television advertising), the highest of any industry. In 2017, the global recorded music grew 8.1 percent year-over-year, with revenues totaling $17.3 billion. From 2012 to 2017, the international film market grew at a compound annual growth rate of nearly 4%; the global box office revenues reached $40.6 billion in 2017... In general, the global culture market continues to show a high growth trend.

It is worth noting that the creative design industry has seen a huge increase. According to data website statista, European advertising industry revenues grew from €8.884 billion in 2011 to €10 billion in 2015; the employment growth in the American graphic design industry is expected to be 4% between 2016 and 2026.

As for China, China’s cultural industry has developed in an orderly manner under the guidance of the 13th Five-Year Plan. According to data released by the National Bureau of Statistics (NBS), China’s cultural industry achieved an added value of 3.8737 trillion yuan in 2018, up 10.3 times from 2004. From 2005 to 2018, the average annual growth rate of value added in the cultural industry was 18.9%, 6.9 percentage points higher than the average annual growth rate of the current price of GDP in the same period. The added value of the cultural industry’s share of GDP increased from 2.15% in 2004 and 3.36% in 2012 to 4.30% in 2018, and its share in the national economy has increased year by year. Forecasts show that the value added of the country’s cultural and related industries will exceed 6 trillion yuan in 2022; forecasts also show that in 2023, the added value of China’s cultural and related industries will grow to 6.65 trillion yuan, with an average compound annual growth rate of about 11.07% from 2019 to 2023. These figures fully illustrate the significant increase in China’s total cultural economy and the flourishing cultural market.


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