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Massage equipment market size to grow by USD 17,294.31 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics – Technavio
Massage equipment market size to grow by USD 17,294.31 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics – Technavio
PR Newswire
NEW YORK, Jan. 9, 2023
NEW YORK, Jan. 9, 2023 /PRNewswire…
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Massage equipment market size to grow by USD 17,294.31 million from 2022 to 2027: A descriptive analysis of customer landscape, vendor assessment, and market dynamics - Technavio
PR Newswire
NEW YORK, Jan. 9, 2023
NEW YORK, Jan. 9, 2023 /PRNewswire/ -- Technavio categorizes the global massage equipment market as a part of the global leisure products market, which covers various categories, including sports equipment, musical instruments, camping equipment, recreational vehicles, bicycles, toys, and other consumer-oriented games.
The global massage equipment market size is estimated to increase by USD 17,294.31 million between 2022 and 2027. The market's growth momentum will be progressing at a CAGR of 10.54% during the forecast period.
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Massage equipment market - Customer Landscape
To help companies evaluate and develop growth strategies, the report outlines –
- Key purchase criteria
- Adoption rates
- Adoption lifecycle
- Drivers of price sensitivity
- Get detailed insights into the market study. Buy the report!
Massage equipment market – Vendor Analysis
Vendor Landscape – The global massage equipment market is fragmented due to the presence of many global, regional, and local vendors. The vendors focus on major factors, such as brand, labor, quality, and innovation, to compete in the market. They are also developing innovative products to sustain in the competitive market.
A few prominent vendors that offer massage equipment in the market are Beurer GmbH, Bodyfriend Inc., Casada International GmbH, Conair Corp., Family Inada Co. Ltd., Fujita Massage Chair, HoMedics LLC, Human Touch LLC, JSB Health and Fitness Pvt. Ltd., Luraco Technologies, OMRON Corp, OSIM International Pte. Ltd., Panasonic Holdings Corp., Prospera Corp., Relaxonchair, RoboTouch, Thumper Massager Inc., Wahl Clipper Corp., WelbuTech Co. Ltd., and Xiaomi Inc. and others.
Vendor Offerings -
- Beurer GmbH - The company offers massage equipment such as Infrared massager, Tapping massager, and Mini massager.
- Bodyfriend Inc. - The company offers massage equipment such as Phantom 2, Agera Air, and Hugchair 2.
- Casada International GmbH - The company offers massage equipment such as massage chairs, upper body massagers, and lower body massagers.
- Conair Corp. - The company offers massage equipment such as Heated Massaging Seat Cushion and Conair HeatShiatsu Neck Rest.
Massage equipment market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on the product (massage chairs and sofas, back massagers, handheld massagers, neck and shoulder massagers, and others), end-user (commercial and residential), type (electric massage equipment and non-electric massage equipment), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
- The massage chairs and sofas segment shows a gradual increase in the market share of USD 5,402.16 million in 2017 and continued until 2021. The demand for massage chairs and sofas is increasing in the commercial sector, including airports, spa centers, saloons, hotels, restaurants, and cruise lines. In addition, the rising disposable income of consumers in developing countries such as India, South Korea, and China are fueling the growth of the segment.
Geography Overview
By geography, the global massage equipment market is segmented into North America, Europe, APAC, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global massage equipment market.
- North America is estimated to contribute 37% to the growth of the global market during the forecast period. The rising number of spa centers, the rise in per-capita incomes, and the growth in the millennial population are fostering the growth of the massage equipment market in North America.
Massage equipment market – Market Dynamics
Leading Drivers –
- The market is driven by the rising number of massage parlors and physiotherapy clinics.
- The growth in the urban middle-class population has increased the demand for massage parlors. In addition, the increased demand for expert massage services by customers is encouraging spa centers to introduce a diverse range of advanced massage chairs.
- Similarly, physiotherapy clinics are gaining popularity in both developed and developing countries. These clinics offer consultation and massage therapy with the help of advanced massage equipment, such as massage chairs that offer humanized massage mechanisms.
- With the increasing number of massage parlors an physiotherapy clinics, the demand for massage chairs is expected to increase during the forecast period.
Key Trends –
- The introduction of portable massage equipment is the major trend in the market.
- The demand for portable massage equipment is increasing among consumers.
- Portable or handheld massage equipment offers an effective way of providing comfort to users by transmitting the right amount of pressure and vibrations to the muscles.
- They can be easily carried while traveling to distant places as they do not occupy major space in traveler's luggage.
- The introduction of portable massage equipment is expected to have a positive impact on the growth of the market during the forecast period.
Major challenges –
- The shift toward traditional massage therapies is the major challenge impacting market growth.
- Many people prefer traditional massage therapies as they are considered to better alleviate body pains and health problems.
- Traditional massage therapies involve the use of essential oils, such as bergamot, cedarwood, chamomile, eucalyptus, and lavender. These are known to have proven health benefits, such as reducing anxiety, depression, insomnia, nausea, and pain.
- Moreover, traditional massage therapies reduce stress, improve blood circulation, reduce chronic stiffness, and eliminate toxins.
- Such benefits are increasing consumer preference for traditional massage therapies, which is challenging the growth of the market in focus.
What are the key data covered in this massage equipment market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the massage equipment market between 2023 and 2027
- Precise estimation of the size of the massage equipment market size and its contribution to the market in focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the massage equipment market industry across North America, Europe, APAC, South America, and Middle East and Africa
- A thorough analysis of the market's competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of massage equipment market vendors
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Massage Equipment Market Scope | |
Report Coverage | Details |
Page number | 186 |
Base year | 2022 |
Historic period | 2017-2021 |
Forecast period | 2023-2027 |
Growth momentum & CAGR | Accelerate at a CAGR of 10.54% |
Market growth 2023-2027 | USD 17294.31 million |
Market structure | Fragmented |
YoY growth 2022-2023 (%) | 8.61 |
Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
Performing market contribution | North America at 37% |
Key countries | US, China, Japan, Germany, and France |
Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled | Beurer GmbH, Bodyfriend Inc., Casada International GmbH, Conair Corp., Family Inada Co. Ltd., Fujita Massage Chair, HoMedics LLC, Human Touch LLC, JSB Health and Fitness Pvt. Ltd., Luraco Technologies, OMRON Corp, OSIM International Pte. Ltd., Panasonic Holdings Corp., Prospera Corp., Relaxonchair, RoboTouch, Thumper Massager Inc., Wahl Clipper Corp., WelbuTech Co. Ltd., and Xiaomi Inc. |
Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Table of contents:
1 Executive Summary
- 1.1 Market overview
- Exhibit 01: Executive Summary – Chart on Market Overview
- Exhibit 02: Executive Summary – Data Table on Market Overview
- Exhibit 03: Executive Summary – Chart on Global Market Characteristics
- Exhibit 04: Executive Summary – Chart on Market by Geography
- Exhibit 05: Executive Summary – Chart on Market Segmentation by Product
- Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
- Exhibit 07: Executive Summary – Chart on Market Segmentation by Type
- Exhibit 08: Executive Summary – Chart on Incremental Growth
- Exhibit 09: Executive Summary – Data Table on Incremental Growth
- Exhibit 10: Executive Summary – Chart on Vendor Market Positioning
2 Market Landscape
- 2.1 Market ecosystem
- Exhibit 11: Parent market
- Exhibit 12: Market Characteristics
3 Market Sizing
- 3.1 Market definition
- Exhibit 13: Offerings of vendors included in the market definition
- 3.2 Market segment analysis
- Exhibit 14: Market segments
- 3.3 Market size 2022
- 3.4 Market outlook: Forecast for 2022-2027
- Exhibit 15: Chart on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 16: Data Table on Global - Market size and forecast 2022-2027 ($ million)
- Exhibit 17: Chart on Global Market: Year-over-year growth 2022-2027 (%)
- Exhibit 18: Data Table on Global Market: Year-over-year growth 2022-2027 (%)
4 Historic Market Size
- 4.1 Global massage equipment market 2017 - 2021
- Exhibit 19: Historic Market Size – Data Table on Global massage equipment market 2017 - 2021 ($ million)
- 4.2 Product Segment Analysis 2017 - 2021
- Exhibit 20: Historic Market Size – Product Segment 2017 - 2021 ($ million)
- 4.3 End-user Segment Analysis 2017 - 2021
- Exhibit 21: Historic Market Size – End-user Segment 2017 - 2021 ($ million)
- 4.4 Type Segment Analysis 2017 - 2021
- Exhibit 22: Historic Market Size – Type Segment 2017 - 2021 ($ million)
- 4.5 Geography Segment Analysis 2017 - 2021
- Exhibit 23: Historic Market Size – Geography Segment 2017 - 2021 ($ million)
- 4.6 Country Segment Analysis 2017 - 2021
- Exhibit 24: Historic Market Size – Country Segment 2017 - 2021 ($ million)
5 Five Forces Analysis
- 5.1 Five forces summary
- Exhibit 25: Five forces analysis - Comparison between 2022 and 2027
- 5.2 Bargaining power of buyers
- Exhibit 26: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027
- 5.3 Bargaining power of suppliers
- Exhibit 27: Bargaining power of suppliers – Impact of key factors in 2022 and 2027
- 5.4 Threat of new entrants
- Exhibit 28: Threat of new entrants – Impact of key factors in 2022 and 2027
- 5.5 Threat of substitutes
- Exhibit 29: Threat of substitutes – Impact of key factors in 2022 and 2027
- 5.6 Threat of rivalry
- Exhibit 30: Threat of rivalry – Impact of key factors in 2022 and 2027
- 5.7 Market condition
- Exhibit 31: Chart on Market condition - Five forces 2022 and 2027
6 Market Segmentation by Product
- 6.1 Market segments
- Exhibit 32: Chart on Product - Market share 2022-2027 (%)
- Exhibit 33: Data Table on Product - Market share 2022-2027 (%)
- 6.2 Comparison by Product
- Exhibit 34: Chart on Comparison by Product
- Exhibit 35: Data Table on Comparison by Product
- 6.3 Massage chairs and sofas - Market size and forecast 2022-2027
- Exhibit 36: Chart on Massage chairs and sofas - Market size and forecast 2022-2027 ($ million)
- Exhibit 37: Data Table on Massage chairs and sofas - Market size and forecast 2022-2027 ($ million)
- Exhibit 38: Chart on Massage chairs and sofas - Year-over-year growth 2022-2027 (%)
- Exhibit 39: Data Table on Massage chairs and sofas - Year-over-year growth 2022-2027 (%)
- 6.4 Back massagers - Market size and forecast 2022-2027
- Exhibit 40: Chart on Back massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 41: Data Table on Back massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 42: Chart on Back massagers - Year-over-year growth 2022-2027 (%)
- Exhibit 43: Data Table on Back massagers - Year-over-year growth 2022-2027 (%)
- 6.5 Handheld massagers - Market size and forecast 2022-2027
- Exhibit 44: Chart on Handheld massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 45: Data Table on Handheld massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 46: Chart on Handheld massagers - Year-over-year growth 2022-2027 (%)
- Exhibit 47: Data Table on Handheld massagers - Year-over-year growth 2022-2027 (%)
- 6.6 Neck and shoulder massagers - Market size and forecast 2022-2027
- Exhibit 48: Chart on Neck and shoulder massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 49: Data Table on Neck and shoulder massagers - Market size and forecast 2022-2027 ($ million)
- Exhibit 50: Chart on Neck and shoulder massagers - Year-over-year growth 2022-2027 (%)
- Exhibit 51: Data Table on Neck and shoulder massagers - Year-over-year growth 2022-2027 (%)
- 6.7 Others - Market size and forecast 2022-2027
- Exhibit 52: Chart on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 53: Data Table on Others - Market size and forecast 2022-2027 ($ million)
- Exhibit 54: Chart on Others - Year-over-year growth 2022-2027 (%)
- Exhibit 55: Data Table on Others - Year-over-year growth 2022-2027 (%)
- 6.8 Market opportunity by Product
- Exhibit 56: Market opportunity by Product ($ million)
7 Market Segmentation by End-user
- 7.1 Market segments
- Exhibit 57: Chart on End-user - Market share 2022-2027 (%)
- Exhibit 58: Data Table on End-user - Market share 2022-2027 (%)
- 7.2 Comparison by End-user
- Exhibit 59: Chart on Comparison by End-user
- Exhibit 60: Data Table on Comparison by End-user
- 7.3 Commercial - Market size and forecast 2022-2027
- Exhibit 61: Chart on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 62: Data Table on Commercial - Market size and forecast 2022-2027 ($ million)
- Exhibit 63: Chart on Commercial - Year-over-year growth 2022-2027 (%)
- Exhibit 64: Data Table on Commercial - Year-over-year growth 2022-2027 (%)
- 7.4 Residential - Market size and forecast 2022-2027
- Exhibit 65: Chart on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 66: Data Table on Residential - Market size and forecast 2022-2027 ($ million)
- Exhibit 67: Chart on Residential - Year-over-year growth 2022-2027 (%)
- Exhibit 68: Data Table on Residential - Year-over-year growth 2022-2027 (%)
- 7.5 Market opportunity by End-user
- Exhibit 69: Market opportunity by End-user ($ million)
8 Market Segmentation by Type
- 8.1 Market segments
- Exhibit 70: Chart on Type - Market share 2022-2027 (%)
- Exhibit 71: Data Table on Type - Market share 2022-2027 (%)
- 8.2 Comparison by Type
- Exhibit 72: Chart on Comparison by Type
- Exhibit 73: Data Table on Comparison by Type
- 8.3 Electric massage equipment - Market size and forecast 2022-2027
- Exhibit 74: Chart on Electric massage equipment - Market size and forecast 2022-2027 ($ million)
- Exhibit 75: Data Table on Electric massage equipment - Market size and forecast 2022-2027 ($ million)
- Exhibit 76: Chart on Electric massage equipment - Year-over-year growth 2022-2027 (%)
- Exhibit 77: Data Table on Electric massage equipment - Year-over-year growth 2022-2027 (%)
- 8.4 Non-electric massage equipment - Market size and forecast 2022-2027
- Exhibit 78: Chart on Non-electric massage equipment - Market size and forecast 2022-2027 ($ million)
- Exhibit 79: Data Table on Non-electric massage equipment - Market size and forecast 2022-2027 ($ million)
- Exhibit 80: Chart on Non-electric massage equipment - Year-over-year growth 2022-2027 (%)
- Exhibit 81: Data Table on Non-electric massage equipment - Year-over-year growth 2022-2027 (%)
- 8.5 Market opportunity by Type
- Exhibit 82: Market opportunity by Type ($ million)
9 Customer Landscape
- 9.1 Customer landscape overview
- Exhibit 83: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Geographic Landscape
- 10.1 Geographic segmentation
- Exhibit 84: Chart on Market share by geography 2022-2027 (%)
- Exhibit 85: Data Table on Market share by geography 2022-2027 (%)
- 10.2 Geographic comparison
- Exhibit 86: Chart on Geographic comparison
- Exhibit 87: Data Table on Geographic comparison
- 10.3 North America - Market size and forecast 2022-2027
- Exhibit 88: Chart on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 89: Data Table on North America - Market size and forecast 2022-2027 ($ million)
- Exhibit 90: Chart on North America - Year-over-year growth 2022-2027 (%)
- Exhibit 91: Data Table on North America - Year-over-year growth 2022-2027 (%)
- 10.4 Europe - Market size and forecast 2022-2027
- Exhibit 92: Chart on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 93: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
- Exhibit 94: Chart on Europe - Year-over-year growth 2022-2027 (%)
- Exhibit 95: Data Table on Europe - Year-over-year growth 2022-2027 (%)
- 10.5 APAC - Market size and forecast 2022-2027
- Exhibit 96: Chart on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 97: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
- Exhibit 98: Chart on APAC - Year-over-year growth 2022-2027 (%)
- Exhibit 99: Data Table on APAC - Year-over-year growth 2022-2027 (%)
- 10.6 South America - Market size and forecast 2022-2027
- Exhibit 100: Chart on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 101: Data Table on South America - Market size and forecast 2022-2027 ($ million)
- Exhibit 102: Chart on South America - Year-over-year growth 2022-2027 (%)
- Exhibit 103: Data Table on South America - Year-over-year growth 2022-2027 (%)
- 10.7 Middle East and Africa - Market size and forecast 2022-2027
- Exhibit 104: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 105: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
- Exhibit 106: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- Exhibit 107: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)
- 10.8 US - Market size and forecast 2022-2027
- Exhibit 108: Chart on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 109: Data Table on US - Market size and forecast 2022-2027 ($ million)
- Exhibit 110: Chart on US - Year-over-year growth 2022-2027 (%)
- Exhibit 111: Data Table on US - Year-over-year growth 2022-2027 (%)
- 10.9 China - Market size and forecast 2022-2027
- Exhibit 112: Chart on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 113: Data Table on China - Market size and forecast 2022-2027 ($ million)
- Exhibit 114: Chart on China - Year-over-year growth 2022-2027 (%)
- Exhibit 115: Data Table on China - Year-over-year growth 2022-2027 (%)
- 10.10 Germany - Market size and forecast 2022-2027
- Exhibit 116: Chart on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 117: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
- Exhibit 118: Chart on Germany - Year-over-year growth 2022-2027 (%)
- Exhibit 119: Data Table on Germany - Year-over-year growth 2022-2027 (%)
- 10.11 Japan - Market size and forecast 2022-2027
- Exhibit 120: Chart on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 121: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
- Exhibit 122: Chart on Japan - Year-over-year growth 2022-2027 (%)
- Exhibit 123: Data Table on Japan - Year-over-year growth 2022-2027 (%)
- 10.12 France - Market size and forecast 2022-2027
- Exhibit 124: Chart on France - Market size and forecast 2022-2027 ($ million)
- Exhibit 125: Data Table on France - Market size and forecast 2022-2027 ($ million)
- Exhibit 126: Chart on France - Year-over-year growth 2022-2027 (%)
- Exhibit 127: Data Table on France - Year-over-year growth 2022-2027 (%)
- 10.13 Market opportunity by geography
- Exhibit 128: Market opportunity by geography ($ million)
11 Drivers, Challenges, and Trends
- 11.1 Market drivers
- 11.2 Market challenges
- 11.3 Impact of drivers and challenges
- Exhibit 129: Impact of drivers and challenges in 2022 and 2027
- 11.4 Market trends
12 Vendor Landscape
- 12.1 Overview
- 12.2 Vendor landscape
- Exhibit 130: Overview on Criticality of inputs and Factors of differentiation
- 12.3 Landscape disruption
- Exhibit 131: Overview on factors of disruption
- 12.4 Industry risks
- Exhibit 132: Impact of key risks on business
13 Vendor Analysis
- 13.1 Vendors covered
- Exhibit 133: Vendors covered
- 13.2 Market positioning of vendors
- Exhibit 134: Matrix on vendor position and classification
- 13.3 Beurer GmbH
- Exhibit 135: Beurer GmbH - Overview
- Exhibit 136: Beurer GmbH - Product / Service
- Exhibit 137: Beurer GmbH - Key offerings
- 13.4 Bodyfriend Inc.
- Exhibit 138: Bodyfriend Inc. - Overview
- Exhibit 139: Bodyfriend Inc. - Product / Service
- Exhibit 140: Bodyfriend Inc. - Key offerings
- 13.5 Casada International GmbH
- Exhibit 141: Casada International GmbH - Overview
- Exhibit 142: Casada International GmbH - Product / Service
- Exhibit 143: Casada International GmbH - Key offerings
- 13.6 Conair Corp.
- Exhibit 144: Conair Corp. - Overview
- Exhibit 145: Conair Corp. - Product / Service
- Exhibit 146: Conair Corp. - Key offerings
- 13.7 Family Inada Co. Ltd.
- Exhibit 147: Family Inada Co. Ltd. - Overview
- Exhibit 148: Family Inada Co. Ltd. - Product / Service
- Exhibit 149: Family Inada Co. Ltd. - Key offerings
- 13.8 Fujita Massage Chair
- Exhibit 150: Fujita Massage Chair - Overview
- Exhibit 151: Fujita Massage Chair - Product / Service
- Exhibit 152: Fujita Massage Chair - Key offerings
- 13.9 HoMedics LLC
- Exhibit 153: HoMedics LLC - Overview
- Exhibit 154: HoMedics LLC - Product / Service
- Exhibit 155: HoMedics LLC - Key offerings
- 13.10 Human Touch LLC
- Exhibit 156: Human Touch LLC - Overview
- Exhibit 157: Human Touch LLC - Product / Service
- Exhibit 158: Human Touch LLC - Key offerings
- 13.11 JSB Health and Fitness Pvt. Ltd.
- Exhibit 159: JSB Health and Fitness Pvt. Ltd. - Overview
- Exhibit 160: JSB Health and Fitness Pvt. Ltd. - Product / Service
- Exhibit 161: JSB Health and Fitness Pvt. Ltd. - Key offerings
- 13.12 Luraco Technologies
- Exhibit 162: Luraco Technologies - Overview
- Exhibit 163: Luraco Technologies - Product / Service
- Exhibit 164: Luraco Technologies - Key offerings
- 13.13 OMRON Corp
- Exhibit 165: OMRON Corp - Overview
- Exhibit 166: OMRON Corp - Business segments
- Exhibit 167: OMRON Corp - Key news
- Exhibit 168: OMRON Corp - Key offerings
- Exhibit 169: OMRON Corp - Segment focus
- 13.14 OSIM International Pte. Ltd.
- Exhibit 170: OSIM International Pte. Ltd. - Overview
- Exhibit 171: OSIM International Pte. Ltd. - Product / Service
- Exhibit 172: OSIM International Pte. Ltd. - Key offerings
- 13.15 Panasonic Holdings Corp.
- Exhibit 173: Panasonic Holdings Corp. - Overview
- Exhibit 174: Panasonic Holdings Corp. - Business segments
- Exhibit 175: Panasonic Holdings Corp. - Key news
- Exhibit 176: Panasonic Holdings Corp. - Key offerings
- Exhibit 177: Panasonic Holdings Corp. - Segment focus
- 13.16 Prospera Corp.
- Exhibit 178: Prospera Corp. - Overview
- Exhibit 179: Prospera Corp. - Product / Service
- Exhibit 180: Prospera Corp. - Key offerings
- 13.17 Wahl Clipper Corp.
- Exhibit 181: Wahl Clipper Corp. - Overview
- Exhibit 182: Wahl Clipper Corp. - Product / Service
- Exhibit 183: Wahl Clipper Corp. - Key offerings
14 Appendix
- 14.1 Scope of the report
- 14.2 Inclusions and exclusions checklist
- Exhibit 184: Inclusions checklist
- Exhibit 185: Exclusions checklist
- 14.3 Currency conversion rates for US$
- Exhibit 186: Currency conversion rates for US$
- 14.4 Research methodology
- Exhibit 187: Research methodology
- Exhibit 188: Validation techniques employed for market sizing
- Exhibit 189: Information sources
- 14.5 List of abbreviations
- Exhibit 190: List of abbreviations
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Uncategorized
Manufacturing and construction vs. the still-inverted yield curve
– by New Deal democratProf. Menzie Chinn at Econbrowser makes the point that the yield curve is still inverted, and has not yet eclipsed the longest…
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- by New Deal democrat
Prof. Menzie Chinn at Econbrowser makes the point that the yield curve is still inverted, and has not yet eclipsed the longest previous time between onset of such an inversion and a recession. So he believes the threat of recession is still on the table.
Uncategorized
Half Of Downtown Pittsburgh Office Space Could Be Empty In 4 Years
Half Of Downtown Pittsburgh Office Space Could Be Empty In 4 Years
Authored by Mike Shedlock via MishTalk.com,
The CRE implosion is picking…
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Authored by Mike Shedlock via MishTalk.com,
The CRE implosion is picking up steam.
Check out the grim stats on Pittsburgh.
Unions are also a problem in Pittsburgh as they are in Illinois and California.
Downtown Pittsburgh Implosion
The Post Gazette reports nearly half of Downtown Pittsburgh office space could be empty in 4 years.
Confidential real estate information obtained by the Pittsburgh Post-Gazette estimates that 17 buildings are in “significant distress” and another nine are in “pending distress,” meaning they are either approaching foreclosure or at risk of foreclosure. Those properties represent 63% of the Downtown office stock and account for $30.5 million in real estate taxes, according to the data.
It also calculates the current office vacancy rate at 27% when subleases are factored in — one of the highest in the country.
And with an additional three million square feet of unoccupied leased space becoming available over the next five years, the vacancy rate could soar to 46% by 2028, based on the data.
Property assessments on 10 buildings, including U.S. Steel Tower, PPG Place, and the Tower at PNC Plaza, have been slashed by $364.4 million for the 2023 tax year, as high vacancies drive down their income.
Another factor has been the steep drop — to 63.5% from 87.5% — in the common level ratio, the number used to compute taxable value in county assessment appeal hearings.
The assessment cuts have the potential to cost the city, the county, and the Pittsburgh schools nearly $8.4 million in tax refunds for that year alone. Downtown represents nearly 25% of the city’s overall tax base.
In response Pittsburgh City Councilman Bobby Wilson wants to remove a $250,000 limit on the amount of tax relief available to a building owner or developer as long as a project creates at least 50 full-time equivalent jobs.
It’s unclear if the proposal will be enough. Annual interest costs to borrow $1 million have soared from $32,500 at the start of the pandemic in 2020 to $85,000 on March 1. Local construction costs have increased by about 30% since 2019.
But the city is doomed if it does nothing. Aaron Stauber, president of Rugby Realty said it will probably empty out Gulf Tower and mothball it once all existing leases expire.
“It’s cheaper to just shut the lights off,” he said. “At some point, we would move on to greener pastures.”
Where’s There’s Smoke There’s Unions
In addition to the commercial real estate woes, the city is also wrestling with union contracts.
Please consider Sounding the alarm: Pittsburgh Controller’s letter should kick off fiscal soul-searching
It’s only March, and Pittsburgh’s 2024 house-of-cards operating budget is already falling down. That’s the clear implication of a letter sent by new City Controller Rachael Heisler to Mayor Ed Gainey and members of City Council on Wednesday afternoon.
The letter is a rare and welcome expression of urgency in a city government that has fallen in complacency — and is close to falling into fiscal disaster.
The approaching crisis was thrown into sharp relief this week, when City Council approved amendments to the operating budget accounting for a pricey new contract with the firefighters union. The Post-Gazette Editorial Board had predicted that this contract — plus two others yet to be announced and approved — would demonstrate the dishonesty of Mayor Ed Gainey’s budget, and that’s exactly what’s happening: The new contract is adding $11 million to the administration’s artificially low 5-year spending projections, bringing expected 2028 reserves to just barely the legal limit.
But there’s still two big contracts to go, with the EMS union and the Pittsburgh Joint Collective Bargaining Committee, which covers Public Works workers. Worse, there are tens — possibly hundreds — of millions in unrealistic revenues still on the books. On this, Ms. Heisler’s letter only scratched the surface.
Similarly, as we have observed, the budget’s real estate tax revenue projections are radically inconsistent with reality. Due to high vacancies and a sharp reduction in the common level ratio, a significant drop in revenues was predictable — but not reflected in the budget. Ms. Heisler’s estimate of a 20% drop in revenues from Downtown property, or $5.3 million a year, may even be optimistic: Other estimates peg the loss at twice that, or more.
Left unmentioned in the letter are massive property tax refunds the city will owe, as well as fanciful projections of interest income that are inconsistent with the dwindling reserves, and drawing-down of federal COVID relief funds, predicted in the budget itself. That’s another unrealistic $80 million over five years.
Pittsburgh exited Act 47 state oversight after nearly 15 years on Feb. 12, 2018, with a clean bill of fiscal health.
It has already ruined that bill of health.
Act 47 in Pittsburgh
Flashback February 21, 2018: Act 47 in Pittsburgh: What Was Accomplished?
Pittsburgh’s tax structure was a much-complained-about topic leading up to the Act 47 declaration. The year following Pittsburgh’s designation as financially distressed under Act 47 it levied taxes on real estate, real estate transfers, parking, earned income, business gross receipts (business privilege and mercantile), occupational privilege and amusements. The General Assembly enacted tax reforms in 2004 giving the city authority to levy a payroll preparation tax in exchange for the immediate elimination of the mercantile tax and the phase out of the business privilege tax. The tax reforms increased the amount of the occupational privilege tax from $10 to $52 (this is today known as the local services tax and all municipalities outside of Philadelphia levy it and could raise it thanks to the change for Pittsburgh).
The coordinators recommended an increase in the deed transfer tax, which occurred in late 2004 (it was just increased again by City Council) and in the real estate tax, which increased in 2015.
Legacy costs, principally debt and underfunded pensions, were the primary focus of the 2009 amended recovery plan. The city’s pension funded ratio has increased significantly from where it stood a decade ago, rising from the mid-30 percent range to over 60 percent at last measurement.
The obvious question? Will the city stick to the steps taken to improve financially and avoid slipping back into distressed status? If Pittsburgh once stood “on the precipice of full-blown crisis,” as described in the first recovery plan, hopefully it won’t return to that position.
The Obvious Question
I could have answered the 2018 obvious question with the obvious answer. Hell no.
No matter how much you raise taxes, it will never be enough because public unions will suck every penny and want more.
On top of union graft, and insanely woke policies in California, we have an additional huge problem.
Hybrid Work Leaves Offices Empty and Building Owners Reeling
Hybrid work has put office building owners in a bind and could pose a risk to banks. Landlords are now confronting the fact that some of their office buildings have become obsolete, if not worthless.
Meanwhile, in Illinois …
Chicago Teachers’ Union Seeks $50 Billion Despite $700 Million City Deficit
Please note the Chicago Teachers’ Union Seeks $50 Billion Despite $700 Million City Deficit
The CTU wants to raise taxes across the board, especially targeting real estate.
My suggestion, get the hell out...
Uncategorized
Profits over patients: For-profit nursing home chains are draining resources from care while shifting huge sums to owners’ pockets
Owners of midsize nursing home chains harm the elderly and drain huge sums of money from facilities using opaque accounting practices while government…
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The care at Landmark of Louisville Rehabilitation and Nursing was abysmal when state inspectors filed their survey report of the Kentucky facility on July 3, 2021.
Residents wandered the halls in a facility that can house up to 250 people, yelling at each other and stealing blankets. One resident beat a roommate with a stick, causing bruising and skin tears. Another was found in bed with a broken finger and a bloody forehead gash. That person was allowed to roam and enter the beds of other residents. In another case, there was sexual touching in the dayroom between residents, according to the report.
Meals were served from filthy meal carts on plastic foam trays, and residents struggled to cut their food with dull plastic cutlery. Broken tiles lined showers, and a mysterious black gunk marred the floors. The director of housekeeping reported that the dining room was unsanitary. Overall, there was a critical lack of training, staff and supervision.
The inspectors tagged Landmark as deficient in 29 areas, including six that put residents in immediate jeopardy of serious harm and three where actual harm was found. The issues were so severe that the government slapped Landmark with a fine of over US$319,000 − more than 29 times the average for a nursing home in 2021 − and suspended payments to the home from federal Medicaid and Medicare funds.
But problems persisted. Five months later, inspectors levied six additional deficiencies of immediate jeopardy − the highest level.
Landmark is just one of the 58 facilities run by parent company Infinity Healthcare Management across five states. The government issued penalties to the company almost 4½ times the national average, according to bimonthly data that the Centers for Medicare & Medicaid Services first started to make available in late 2022. All told, Infinity paid nearly $10 million in fines since 2021, the highest among nursing home chains with fewer than 100 facilities.
Infinity Healthcare Management and its executives did not respond to multiple requests for comment.
Race to the bottom
Such sanctions are nothing new for Infinity or other for-profit nursing home chains that have dominated an industry long known for cutting corners in pursuit of profits for private owners. But this race to the bottom to extract profits is accelerating, despite demands by government officials, health care experts and advocacy groups to protect the nation’s most vulnerable citizens.
To uncover the reasons why, The Conversation delved into the nursing home industry, where for-profit facilities make up more than 72% of the nation’s nearly 14,900 facilities. The probe, which paired an academic expert with an investigative reporter, used the most recent government data on ownership, facility information and penalties, combined with CMS data on affiliated entities for nursing homes.
The investigation revealed an industry that places a premium on cost cutting and big profits, with low staffing and poor quality, often to the detriment of patient well-being. Operating under weak and poorly enforced regulations with financially insignificant penalties, the for-profit sector fosters an environment where corners are frequently cut, compromising the quality of care and endangering patient health.
Meanwhile, owners make the facilities look less profitable by siphoning money from the homes through byzantine networks of interconnected corporations. Federal regulators have neglected the problem as each year likely billions of dollars are funneled out of nursing homes through related parties and into owners’ pockets.
More trouble at midsize
Analyzing newly released government data, our investigation found that these problems are most pronounced in nursing homes like Infinity − midsize chains that operate between 11 and 100 facilities. This subsection of the industry has higher average fines per home, lower overall quality ratings, and are more likely to be tagged with resident abuse compared with both the larger and smaller networks. Indeed, while such chains account for about 39% of all facilities, they operate 11 of the 15 most-fined facilities.
With few impediments, private investors who own the midsize chains have swooped in to purchase underperforming homes, expanding their holdings even as larger chains divest and close facilities.
“They are really bad, but the names − we don’t know these names,” said Toby Edelman, senior policy attorney with the Center for Medicare Advocacy, a nonprofit law organization.
In response to The Conversation’s findings on nursing homes and request for an interview, a CMS spokesperson emailed a statement that said the CMS is “unwavering in its commitment to improve safety and quality of care for the more than 1.2 million residents receiving care in Medicare- and Medicaid-certified nursing homes.”
“We support transparency and accountability,” the American Health Care Association/National Center for Assisted Living, a trade organization representing the nursing home industry, wrote in response to The Conversation‘s request for comment. “But neither ownership nor line items on a budget sheet prove whether a nursing home is committed to its residents.”
Ripe for abuse
It often takes years to improve a poor nursing home − or run one into the ground. The analysis of midsize chains shows that most owners have been associated with their current facilities for less than eight years, making it difficult to separate operators who have taken long-term investments in resident care from those who are looking to quickly extract money and resources before closing them down or moving on. These chains control roughly 41% of nursing home beds in the U.S., according to CMS’s provider data, making the lack of transparency especially ripe for abuse.
A churn of nursing home purchases even during the pandemic shows that investors view the sector as highly profitable, especially when staffing costs are kept low and fines for poor care can easily be covered by the money extracted from residents, their families and taxpayers.
A March 2024 study from Lehigh University and the University of California, Los Angeles also shows that costs were inflated when nursing home owners switched to contractors they controlled directly or indirectly. Overall, spending on real estate increased 20.4% and spending on management increased 24.6% when the businesses were affiliated, the research showed.
“This is the model of their care: They come in, they understaff and they make their money,” said Sam Brooks, director of public policy at the Consumer Voice, a national resident advocacy organization. “Then they multiply it over a series of different facilities.”
This is a condensed version of an article from The Conversation’s investigative unit. To find out more about the rise of for-profit nursing homes, financial trickery and what could make the nation’s most vulnerable citizens safer, read the complete version.
Campbell is an adjunct assistant professor at Columbia University and a contributing writer at the Garrison Project, an independent news organization that focuses on mass incarceration and criminal justice.
Harrington is an advisory board member of the nonprofit Veteran's Health Policy Institute and a board member of the nonprofit Center for Health Information and Policy. Harrington served as an expert witness on nursing home litigation cases by residents against facilities owned or operated by Brius and Shlomo Rechnitz in the past and in 2022. She also served as an expert witness in a case against The Citadel Salisbury in North Carolina in 2021.
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Profits over patients: For-profit nursing home chains are draining resources from care while shifting huge sums to owners’ pockets
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