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WHETHER it's the heritage of ayurveda or the age-old practice of yoga, the Indian wellness sector is brimming with growth. Till a decade back, the scope of beauty and healthcare products ranged towards diagnostic centres, salons, gyms, etc. But with the c
WHETHER it's the heritage of ayurveda or the age-old practice of yoga, the Indian wellness sector is brimming with growth. Till a decade back, the scope of beauty and healthcare products ranged towards diagnostic centres, salons, gyms, etc. But with the coming of the Indian middle class health and beauty taking a 360 degree approach, the scope of health and beauty has enlarged to encompass the concept of wellness.
Emerging new segments have thrown up plethora of opportunities, which have opened a new market for wellness providers. Earlier, the norm was to get treated, now the concept has move towards holistic living, thus opening an all together new and blissful segment of spas.
Healthcare being one of the basic needs of the masses, the industry is growing at a rapid pace. As per a Yes Bank and ASSOCHAM report, the Indian healthcare industry is estimated to grow at 23 per cent per annum to $77 billion by 2012 from the present $35 billion. Growing population has given rise to increased demand and average consumption rate in the healthcare sector.
Healthcare industry has made rapid strides in the recent past. During this period, the urban middle class has been jolted by the need for better healthcare facilities and higher awareness towards better living. As a result, expenditure on self-awareness has increased. India is being looked upon as the healthcare service provider with cheaper medical facilities.
Our present issue unfolds various opportunities divided in two broader segments. The first one covers established segments like healthcare, fitness and beauty while the other part showcases the emerging segments, which are about to play a major role in the growth of this sector. Even in healthcare, there are specialised services of maternity healthcare. Besides, one sees a lot of specialised clinics coming up. Nutrition and healthcare consulting is also on the rise.]'
Franchising in all these segments gives better stimulus for expansion, offering better quality and uniformity. Starting up a spa chain is emerging a preferable choice for today's women.
The established sector unfolds opportunities in established categories like salon, spa, gym, diagnostic services, etc and the upcoming sector of concepts like nail bar, hair care clinic and ayurvedic centres. Flip through more pages to gain an insight into the world of healthcare and beauty business or the sum total of it, i.e, the wellness industry.