The wellness Industry Is a growing Industry and the trend Is predicted to see continual growth five years from now and beyond. SIR estimates conservatively that the wellness industry cluster globally is nearly $2 trillion dollars. Industries are becoming more focus on preventive care than illness care (SIR, 2010).
The SIR group identified three drivers for this growth change within the Wellness Industry: increasingly older, unhealthy people; failing medical systems; and Globalization and Connections. Industry leader are seeking ways to ease the burden of the growing epidemic of unhealthy people and the falling medical system today. Many are adopting health promotion and disease prevention strategies (Mattie, Lieu, Calderas, Human, van Bust, Godhood, and Shier, 2012). This also makes the wellness industry an attractive market for entrepreneurs to enter.
No longer is the wellness industry is seen as a passing fad but a booming industry that has the potential to become center stage (Wheelhouse, 2011). Scope Changes In the Wellness Industry The Wellness Industry is seeing exponential growth over last few years. People are living longer; unhealthy people are increasing; and a growing global community is raising concerns about health and wellness cost, accessibility and quality (SIR International, 2010). The wellness industry has been estimated the Wellness Industry is an $1 1. 6 billion industry. The growth potential In all sectors of health and wellness Is on a growth trend.
Globalization and connection is leading us to be exposed to more of everything meaning with regards to health and wellness is having negative and positive effects on our health. (SIR, 2011) The next five years. The trend is set for the next five years that the wellness industry will be well into the trillions of dollars. From a survey conducted by SIR International and Global Spa Summit (ASS) nine out of 10 industry respondents plan to make wellness-related investments in the next 5-10 years (SIR, 2011).
Tom Moore, Wheelhouse General Manager said in a blob, “Wellness is not Just another fad that will dance around the problem. Wellness is what is going to help people be healthier. This is a booming industry and has the potential to really become center stage” (Wheelhouse, 2011. 95). Conclusion Many once thought wellness was Just a fad and limited to those in the Western market who could afford it mostly the wealthy (SIR, 2010, Peg. 3). This may have been true in times past, but today this perception has changed, as more and more people are educated about their unhealthy life styles.
