Preventive healthcare market is growing in the country!
After the Corona epidemic, awareness about preventive healthcare has increased in the country. As a result, the preventive healthcare market is continuously expanding in the country. According to Zerodha co-founder Nikhil Kamath, India's preventive healthcare market has doubled in the last four years, with 'wellness and fitness' alone contributing $98 billion and 51 percent of the total market size.
Preventive healthcare also has a huge opportunity to make money, as the estimated size of the market is estimated to be $197 billion i.e. around Rs 8 lakh crore by 2025. Kamath posted on the X social media platform, "In the last decade, everything related to health seemed very early. This situation is now changing and health and longevity are becoming mainstream in urban India." According to the data shared in the post, the consumption of live fitness content has increased by 1,300 percent since the time of the Kovid epidemic, which has completely changed the world's view of health. It is this growing consciousness that india is going to benefit from. This post has given information about the potential growth of the fitness industry by comparing the low penetration of wearables and gym-goers in india with the world.
Kamath said in his post that, according to the data of 2021, 114 units of fitness wearables are sold per 10,000 people in india, while the global average is 645. This makes the sale of fitness wearables in india 82 percent less than the global number. indians spend an average of Rs 4,000 to Rs 10,000 annually on preventive healthcare. According to his post, preventive healthcare includes exercise, healthy nutrition, health insurance, early diagnosis and health tracking.
Nikhil Kamath said, india is far behind in terms of gym subscription, which is 0.2 percent of the total number in the world. According to the data, "Moreover, not only do we have the lowest gym subscription in the world, but more than 50 percent of gym members do not visit the gym regularly. The data also revealed that india currently has a total of 96,278 gyms."
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