The D2C healthcare revolution could see new winners emerge
The jury’s still out on who they’ll be but both legacy FMCG firms and D2C health natives must adapt
Healthcare in India needs an overhaul. Three in 5 deaths in India are due to lifestyle diseases. There is more than a 20% probability of death over age 30 due to such diseases. This data is alarming not just on an absolute basis, but also because it has been increasing continuously for five decades. The pandemic has reinforced the importance of one’s lifestyle in managing one’s health. Almost 60% of consumers are likely to increase their spend on health and wellness after the pandemic, as per a study done by BCG’s Centre for Consumer Insight. The number of users who buy ‘healthy’ packaged food and nutritional supplements increased by 1.5 times after the second wave of covid, it found. According to a recent Red Seer report, the preventive healthcare market in India is poised to reach $100 billion plus this year, and is projected to grow at a robust 20% plus year-on-year to go over $200 billion by 2025.