0
0
New Delhi, March 2: India’s preventive healthcare market has experienced a remarkable surge, doubling in size over the past four years, according to Nikhil Kamath, Co-founder of Zerodha.1 This growth is largely attributed to the burgeoning “wellness and fitness” sector, which now constitutes a significant 51% of the total market, valued at $98 billion.2
Kamath’s analysis, shared on social media platform X, highlights the immense financial potential of this sector, projecting the market to reach $197 billion (approximately Rs 8 lakh crore) by 2025.3 “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 stated.
The data presented by Kamath indicates a dramatic shift in consumer behavior, with live fitness content consumption skyrocketing by 1,300% since the COVID-19 pandemic.4 This surge reflects a heightened awareness of health and well-being among Indians.
Further substantiating the industry’s growth potential, Kamath compared India’s penetration of fitness wearables and gym memberships with global averages.5 As of 2021, India recorded 114 fitness wearable units sold per 10,000 people, significantly lower than the global average of 645—an 82% disparity.6
Indians are reportedly spending between Rs 4,000 to Rs 10,000 annually on preventive healthcare, encompassing exercise, nutrition, health insurance, early diagnosis, and health tracking.7
However, India lags significantly in gym subscriptions, accounting for only 0.2% of the global total. Moreover, over 50% of Indian gym members are reportedly irregular attendees. India currently has 96,278 gyms.
Kamath’s analysis paints a picture of a rapidly expanding market with significant untapped potential, driven by growing health consciousness and evolving consumer preferences.8
Disclaimer: The information presented in this article is based on data and analysis shared by Nikhil Kamath on social media. Market projections and comparisons are based on available data and may be subject to change. This article is for informational purposes only and does not constitute financial or medical advice. Individual consumer behavior and market trends may vary. Readers are advised to conduct their own research and consult with relevant professionals before making any decisions related to healthcare or investments.
