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Franchising opportunities in alternate
therapy healthcare services - perspectives
Introduction
India is more than a trillion dollar economy and has been one
of the fastest growing economies over the last five years. One
of the key factors in India’s remarkable growth story is the
emergence of a middle class as the largest consuming segment,
which propelled domestic consumption.
With the economy opening up, new avenues of earning high
levels of income have opened up for the educated and young
middle class. This has led to this key consumer segment to have
high levels of disposable income and purchasing parity.
Wellness is a prominent industry, which has benefitted from
increased consumer spends on wellness products and services.
The wellness market in India is estimated to be around US$12–
15 billion in 2013 and growing at a CAGR of around 15%.
The wellness offerings in the Indian market can be segmented
along hygiene, curative and enhancement needs of the
consumer. Curative needs are aligned to prevent diseases, cure
ailments and maintain a healthy lifestyle. Alternate therapy
products and services intend to satisfy the curative/preventive
needs of the consumer and account for approximately 20% of
the wellness market in India.
Overview: Alternate therapy market in
India
The alternate therapy market in India is estimated at US$2.5
billion in 2013. Reduced cost of alternate therapy treatments
and consumers’ perception of alternate medicine causing fewer
side effects than allopathic medicine have generated widespread
acceptance of alternate therapies among the large cross-section
of the population.
Ayurveda is the most widely accepted form of alternate therapy
today among Ayurveda, Yoga and Naturopathy, Unani, Siddha
and Homeopathy (AYUSH) segments.
Alternate therapy product space is more evolved and organized
than services currently. The service delivery market in alternate
therapy is fragmented. Retail clinic health care services are
riding high on acceptance particularly in Ayurveda. However,
presence of trustworthy brands delivering high quality yet costeffective
consumer experience is limited in the Indian market.
Therefore, there is a significant opportunity in the alternate
therapy services space given rising consumer awareness on the
side effects of allopathic medicine and growing propensity to
shift from curative to preventive health care.
Alternate therapy market size (value) in 2013
2% 1%
25%
Ayurveda
Homepathy
Unani
Others
72%
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