Wellness and Rejuvenation Industry in India

Owing to its rich tradition of ancient practices such as Ayurveda and Yoga, India is one of the top destinations for wellness and rejuvenation. Over the last couple of years in particular, thanks in part to globalisation bridging the gap between the “East” and the “West,” the world has taken an interest in not just the science behind the alternative medicinal practices of Naturopathy and Siddha, the history of Ayurveda, and the practice of Yoga, but also in the multi-dimensional concept of physical, mental and emotional well-being and their documented benefits. The country sees a steady influx of tourists from United States, United Kingdom, Canada, Germany, France, etc. at a number of wellness and rejuvenation resorts across the country, that offer not just the best ayurvedic treatment in India but also personalised wellness programs.

In fact, projected to grow at a Compound Annual Growth Rate (CAGR) of nearly 12 per cent, the wellness sector of the Indian healthcare industry is expected to reach US$ 23 billion by 2020. It is important to note that as much as globalisation and the increase in international tourism have contributed to the exponential growth of this sector, there have also been several notable domestic factors that have contributed to this growth.

• An increase in urbanisation have also contributed to an increase in problems associated with modern living. This, in turn, has led to a shift from communicable diseases to lifestyle diseases. The demand for specialised care for high blood pressure, high cholesterol, obesity, etc. have also contributed to the growth of the wellness sector.
• Government initiatives and policy support to support traditional medicines and Yoga have led to a resurgence of interest in the field. As an example, in November 2014, the Department of Indian System of Medicine and Homoeopathy (ISM&H) was elevated to an independent ministry, AYUSH (Ayurveda, Yoga, Unani, Siddha and Homoeopathy) to better focus on the sector and its needs.
• Investments from the private sector into the healthcare industry in general but in the wellness sector of that industry in particular has also grown over the years. Many big players such as Apollo, VLCC, Manipal Group, etc. are venturing into the sector and are setting up wellness and rejuvenation centres across the country. Since it’s the capital, setting up the best ayurvedic hospital in Delhi is priority for both the public and private sector.

Already the second largest exporter of Ayurvedic and herbal products in the world with its wealth of around 10,000 medical plants, the Indian ayurvedic industry is expected to reach US$ 9 billion by 2022. Recognising this incredible potential of growth and business, both the public and private stakeholders have more than doubled their investments in setting up the infrastructure to make the most of the market. For example, on the public sector side, in 2017-18, the country had 460 Ayurveda and homeopathy government recognised colleges. That number has grown significantly since due to government investments. The rise in recognised colleges have also led to the rise in the number of Ayurveda practitioners in the country. The best ayurvedic doctors in India come thoroughly educated, accredited, and vetted – all as a result of the aforementioned investments.

With consistent efforts by the government to strengthen and popularize alternative medicine systems and incredible growth opportunities across different segments supported by increasing awareness and changing lifestyles, India is set to become a global hub for wellness in the coming years.