Carethics

Alternative medicine and therapies have been part of India since ancient times. However, it is only recently that the wellness industry has started getting organized and showing promise. The wellness industry can be divided into two groups: wellness services and wellness products. According to a FICCI – Ernst & Young report: “At the end of 2008, the wellness services market stood at Rs 11,000 crore and the wellness products industry was around Rs 16,000 crore. With an overall estimated CAGR (compound annual growth rate) of over 20% till 2012, this combination of products and services represents the untapped potential that we seek to communicate to the various stakeholders in the wellness industry through our report.”

The report classifies the wellness industry into seven core segments as depicted below:

Rising stress levels, changing lifestyles and societal changes have increased the need for one to balance, both the body and the mind. Wellness services and products have also been received well by the corporate clients who give great importance to employee welfare.

Thus, one is sure to see great potential and rise of this industry.