New Delhi, March 2 (IANS) India’s preventive healthcare market has doubled in size in the past four years, with ‘wellness and fitness’ alone contributing $98 billion and occupying a major 51 per cent of the total market size, according to Nikhil Kamath, Co-founder at Zerodha.
Preventive healthcare also has a massive opportunity to make money with the projected size of the market to hit $197 billion, which is around Rs 8 lakh crore by 2025.
“Everything health-related in the last decade felt like it was too early. This seems to be changing now, with health and longevity becoming mainstream in urban India,” Kamath posted on X social media platform.
According to the data shared in the post, live fitness content consumption has increased as much as 1,300 per cent since Covid pandemic times, which, completely transformed the world’s view on health.
It is this growing consciousness that India is going to benefit from. The post further substantiated the potential growth of the fitness industry by comparing the under penetration of wearables and gym goers in India with the world.
As per 2021 data, according to Kamath’s post, 114 units of fitness wearables is sold per 10,000 people in India as compared to the global average of 645.
This makes the fitness wearable sale 82 per cent lesser in India against the global number.
Indians on an average spend anywhere between Rs 4,000 to Rs 10,000 annually on preventive healthcare. Preventive healthcare includes exercise, healthy nutrition, health insurance, early diagnosis and heath tracking, according to his post.
Another insight from the post revealed that India lags far behind in gym subscriptions, with 0.2 per cent of the world’s total tally.
“Moreover, not only do we have the least gym subscriptions in the world but over 50 per cent gym members aren’t regular. The data also highlighted that India currently has 96,278 gyms in total,” according to the data.
—IANS
na/
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
