Why are we writing this Health and Wellness Industry Review? What’s the big deal about Health and Wellness? The answer lies in the convergence of two trends. The first trend was sparked by the fact that the Baby Boomers are living longer than previous generations ever have in the past. They’re looking at ways to keep themselves healthy, active and vital so that they can enjoy life into their later years. They’re focusing on being well – or “Wellness” instead of waiting to get sick and just reacting to it with medications.
The second trend, is also at least partly the result of baby boomers and the longer life span of the population in general. What options are available to people now to ensure that they have the money to enjoy their retirement – sometimes for the next 20, 30 or 40 years? Now that the old financial system has broken down, everyone needs to be looking at how they’re going to provide a passive, residual income stream for their future.
Thus, we get the birth of an industry – Health and Wellness.
Due to the reasons mentioned above, lots of people are thinking about launching a home based business.
With the economy the way it is, and unemployment rates growing, it’s no wonder some are turning to a home business as a way to make a living.
But how do you decide what to do? So many choices out there, so many “business opportunities” screaming “I am the best opportunity-make lots of money…fast…easy…overnight…” and on and on it goes.
Hopefully you’ve gone through our other articles to help you and guide you down the path that’s right for you.
When you’re trying to decide what type of home business you want to set up, of course it’s a good idea to take a look at which industries are popular – and will continue to grow.
We’re going to focus on an industry that has absolutely exploded – and is anticipated to continue to grow for years to come – the Health and Wellness Industry. People who have become involved in this industry are finding it extremely lucrative and are poised to do quite well financially in the future.
The Health and Wellness Industry is concerned with prevention of illness and disease.
This is different from Health industry which includes doctors, hospitals, pharmacies and pharmaceutical companies. This industry focuses on treating the symptoms of illness, and not on prevention of sickness, and or helping people feel healthier.
The Health and Wellness Industry is expected to be a $1 trillion dollar industry by 2010. This industry includes nutritional supplements, juices, health/fitness clubs, chiropractic, naturopathy, homeopathy, and holistic health care. So what are the forces making the Health and Wellness industry so hot?
The economic downturn has affected peoples’ ability to spend money on insurance, doctor visits, and hospital stays. People are focusing on prevention of sickness and disease: According to cNMI (Natural Marketing Institute) President Maryellen Molyneaux:
“NMI research clearly shows that the current economic downturn is changing consumer behavior on many levels, including spending related to health and wellness. So while sales in each category continue to grow, consumers are becoming more discerning and are looking for real value in their purchases and not just the perceived value. This shift in behavior will impact manufacturers and retailers not just short-term but also in the future. With the economic future unclear, NMI projects that the health and wellness industry as a whole will remain relatively stable over the next five years at approximately 7% growth each year.”
More and more people are searching for ways to prevent illness and improve the quality of their life through better health. Many people feel that the nature of western medicine is treating symptoms, rather than preventing disease. They also feel that what traditional medicine does best is treating emergencies, not not keeping people from getting sick in the first place.
Many Doctors and scientists have dedicated their lives to finding natural “cures” for common “dis-eases” and have embraced a natural approach to treating peoples’ conditions.
Pharmaceutical concerns: There is growing mistrust in the general population towards the pharmaceutical industry. Side effects of medications are often serious, and sometimes even lethal.
Lawsuits and product recalls are making people leery of just taking a pill in hopes of getting better. The majority of prescriptions are merely to treat symptoms of sickness, not in curing or preventing disease.
This is creating lifetime customers. Pharmaceuticals are being designed to be taken for life – and people are becoming aware of the dangers of this to their health.
People are living longer. And they want to be healthy doing it. Life spans keeps getting longer, and people are willing to invest in their health more now than ever before. They are seeking ways to feeling good, staying well, and having health and vitality – and are turning to the Health and Wellness Industry for the answers.