Zerodha’s Nikhil Kamath Reports That India's Preventive Healthcare Market Has Doubled Over Four Years
Click to start listening
Synopsis
India's preventive healthcare market has seen significant growth, doubling in four years. Nikhil Kamath from Zerodha highlights that 'wellness and fitness' contributes $98 billion, marking a 51% share of the market, with projections of reaching $197 billion by 2025.
Key Takeaways
- India's preventive healthcare market has doubled in four years.
- Wellness and fitness sector contributes $98 billion.
- Projected growth to $197 billion by 2025.
- Live fitness content consumption rose by 1,300% post-Covid.
- India's fitness wearables market is 82% lower than the global average.
New Delhi, March 2 (NationPress) The preventive healthcare sector in India has experienced a remarkable growth, doubling in size over the last four years. The 'wellness and fitness' segment alone accounts for $98 billion, representing a significant 51 percent of the overall market, as stated by Nikhil Kamath, Co-founder of Zerodha.
This sector holds tremendous profit potential, with projections indicating the market could reach $197 billion, equivalent to approximately Rs 8 lakh crore by 2025.
“In the last decade, health-related topics seemed premature. However, a shift is occurring now, as health and longevity are becoming mainstream in urban India,” Kamath shared on the X social media platform.
According to the information provided in his post, the consumption of live fitness content surged by as much as 1,300 percent since the Covid pandemic, which has fundamentally altered global perspectives on health.
This increasing awareness is an advantage that India stands to gain from. The post further emphasized the growth potential of the fitness industry by highlighting the low penetration rates of wearables and gym memberships in India compared to the rest of the world.
Data from 2021 reveals, as per Kamath's post, that only 114 units of fitness wearables are sold per 10,000 people in India, in contrast to the global average of 645.
This indicates that wearable fitness sales in India are 82 percent lower than the global figure.
On average, Indians invest between Rs 4,000 to Rs 10,000 annually in preventive healthcare, which encompasses exercise, nutritious diets, health insurance, early diagnostics, and health monitoring, as detailed in his post.
Another noteworthy observation from the post is that India is significantly behind in gym memberships, claiming only 0.2 percent of the total global count.
“Additionally, not only does India have the fewest gym memberships worldwide, but over 50 percent of gym members are irregular. The data also indicated that India currently hosts 96,278 gyms in total,” the post elaborated.
