Undoubtedly, overall health and wellness have become crucial topics for many individuals worldwide. The COVID-19 pandemic caught us off guard, broaching various questions about whether we are on top of things when it comes to self-care. Many people have become increasingly aware of their lifestyle choices and habits as a preventive way of managing their health. And who benefits from the rising need for individuals to treat their health right? Of course, the health and wellness industry.
Unsurprisingly, the industry has seen a surge in value over the past few years, attracting many individuals and business stakeholders. Here are five reasons to enter the health and wellness industry.
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Guaranteed Job Security
According to National Library of Medicine research, the global health care worker population is about 59 million, including surgeons, registered nurses, and consultants. Studies show that healthcare systems will have 90 million job openings by 2030. Therefore, having aspirations to venture into a health and wellness career can never be a miss.
You can study nursing online at the University of Indianapolis if you want a flexible and convenient learning experience. Unlike other sectors where demand is merely influenced by supply or preference, the demand for healthcare is driven by a necessity. For many health seekers, improving their health through fitness, medications, nutritional improvisations, and better lifestyle changes is non-negotiable.
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Size and Growth
According to a McKinsey research report, the health and wellness industry is worth over $1.5 trillion. The industry’s size is expected to increase by five to ten percent compound annual growth rate until 2030, with experts predicting the industry’s value to cross seven trillion dollars globally by 2025.
This growth has been decentralized across various sectors of the larger health and wellness industry. For instance, numerous studies also indicate a rise in the retail sales of natural wellness products, garnering over $61 billion in sales during the pandemic year. This sales volume appears to be a 12.4 percent increase in the consumption of food and non-food wellness products, compared to the five percent recorded in 2019.
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Hotspot for New Trends
A significant part of the fast growth of the health and wellness industry depends on the post-pandemic effects on wellness product consumption and the evolving disruption led by technology and new trends. Some of the trends include the consumption rate of natural and clean label products like sleep enhancers, cosmetics, and skincare.
Personalization is also on the rise, with about 50 percent of Americans seeking to tailor meal plans to their unique health needs. In this case, IoT and 3D printers are the top favorites to fuel the traction of health personalization until it becomes a mainstay. Talking about 3D printing and IoT devices, it’s crucial to include the digital health care disruption happening in the health and wellness industry.
The rise in health monitoring devices and remote health working services can be good case studies. These digital healthcare trends have a unique potential to lower healthcare costs and increase health access to underserved areas.
- Fulfillment
According to many job seekers, entering the health and wellness industry is a decision rooted in personal fulfillment rather than career-related benefits. For more than a decade, Americans have voted health and wellness careers like nursing as the top profession for honesty and ethics due to their compassion for patients.
The fulfillment goes both ways, with the industry’s consumers conceptualizing their efforts not as mere patronage but as necessary bold steps to make life worth living. Who wouldn’t want to be an executive or an employee serving such consumers? Entrepreneurs can embrace these commitments by prioritizing customer relationships in their communications.
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Career Fluidity
The industry is home to various rewarding career paths, from geriatric nursing to physiotherapy. It can be your best bet if you plan on moving between different careers without overhauling your past training. For the most part, whatever you have learned in the past can be a great foundation as you foray into new health and wellness careers.
All in all, health and wellness piqued many people’s interests during the pandemic, but it is safe to say that the industry’s buzz is here to stay. And it’s not too late to join the industry in whatever capacity you see fit, from employee to investor.