In the past three years, the Indian wellness industry which includes slimming products and services, fitness services and equipment and cosmetic treatments has witnessed a highest growth of around 490 billion. Out of which 40 percent is contributed by services sector in the market.
The beauty care market consists of salons, cosmetic treatment centres and cosmetic products which is currently estimated to be around 190-200 billion is expected to reach over 400 million by 2015 and hence likely to become the main contributor to the growth of Indian wellness industry.
Cosmetics, makeup and fashion have been around for several hundred years, and people prefer personal wellbeing much more than personal hygiene. Hence products and services from the wellness sector along with medical and natural cosmetics have become the latest trend in the beauty and cosmetics industry and this industry is also attracting the attention of health officials and lawmakers.
Obesity and diabetes are some of the lifestyle disorders in emerging countries such as India and China, are the main reasons behind the expansion of various treatment modalities in both weight management, anti-obesity and cosmetic treatments.
In India, over the past 30 years, obesity epidemic is a problem that has emerged and has also threatened the nation’s social, economic and physical health. Even the Americans who are overweight or obese are developing health problems.
India has some upfront treatments that is been introduced in the cosmetics industry as per the customised need of patients, which include French ultrasonic lipolysis, which is used to safely to break down fat cells resulting into fat loss and instant inch loss, second treatment is endermology, which is a USFDA-approved technology which is an anti-cellulite treatment that removes fat flush out. And the third treatment is radio frequency with diode laser which is mainly used for body contouring and skin tightening after fat loss and inch loss. These treatments are non-surgical, non-invasive, safe and permanent treatment options reaching to all people.
In the past 5 years, there has been a notable growth in the Indian cosmetic and aesthetic surgeries. The growth is mainly driven by the increasing demand for aesthetic procedures from people in the urban cities of Mumbai, Delhi, Kolkata, Chennai, Bengaluru, Pune and Chandigarh. And in the last 10-12 years, even plastic surgery has also become popular and has gained considerable importance.
Between 2005 and 2007, the Indian aesthetic or cosmetic surgery industry that includes both invasive and non-invasive procedures had a Compounded Annual Growth Rate (CAGR) of 34 per cent in terms of revenue generation and the estimated size of the overall cosmetic surgery industry was worth $ 110 million i.e. approximately 460 crore. But the growth is mainly contributed by non-invasive procedures done in a year as compared to invasive procedures.
In the next 5 years, the Indian wellness industry is likely to require over 600,000 additional skilled personnel mainly driven by huge industry growth along with the increased penetration of the organised sector. And because of the rapid growth there is a huge demand for trained professionals in this industry.