There is a greater awareness of the benefits of complementary and alternative medicine (CAM) worldwide. More people are actively researching and seeking practitioners of holistic health.
The advent of smartphones and the Internet has changed the way people find practitioners and the array of services and products they offer. From the practitioner’s end, adaptation and agility with the highly dynamic market of health and wellness enthusiasts have become crucial requisites to sustain a practice.
Here are some facts and statistics that prove how the industry has grown and opened opportunities for not only the practitioner but also individuals looking to improve their health and wellbeing.
- According to data from the 2017 National Health Interview Survey (NHIS) released in November 2018, the number of American adults and children using yoga and meditation has significantly increased over previous years and the use of chiropractic has increased modestly for adults and held steady for children.1
- Use of practitioner-led complementary and alternative medicine (CAM), such as acupuncture, massage, osteopathy and chiropractic treatment, rose from 12% of the population in 2005 to 16% of the population in 2015, according to a survey led by researchers at the University of Bristol’s Centre for Academic Primary Care.2
- A survey with 4,862 respondents by the National Institute for Health Research indicated that practitioners were found using a combination of search engines (Google, Yahoo, Bing), social media, and referrals from family and friends.2 This highlights the need for online presence using simple landing pages or a full website with booking features. This figure also supports why practitioners should develop a blog site.
- On the basis of intervention, the market is categorized into botanicals; acupuncture; mind, body, and yoga; and magnetic intervention. Botanicals occupy the highest share of the global market as most people in developed countries use dietary supplements like vitamins, minerals, and other digestive supplements.3 As a practitioner of Botanicals, having a tool that provides a platform to manage inventory will prove beneficial to growing the practice and increasing sales.
- Various government organizations have begun to offer distance courses to develop more CAM practitioners for various therapies. This factor is projected to positively affect the industry in the coming years.3 This foreseen trend highlights the need to have a digital channel between practitioner and client which can be something as simple as an online resource library sharing portal.
- The global wellness industry grew from a $3.7 trillion market in 2015 to $4.2 trillion in 2017, based on a report from the 2018 Global Wellness Economy Monitor. This data provides further evidence that wellness remains one of the world’s biggest and fast-growing industries.4
WHAT DO THESE NUMBERS MEAN FOR WELLNESS PRACTITIONERS?
What these figures mean is that practitioners have plenty of opportunities to capture a niche market and grow it. The presented data also suggests that potential clients are, now more than ever, taking action to connect with practitioners to improve their wellbeing.
Visibility and accessibility of CAM services greatly determine how successfully one can scale their practice.
Visibility online can be achieved through SEO efforts with websites, strategic advertising placements, collaborations, and regular publishing of unique quality content. Having an all-encompassing marketing strategy that funnels sales effectively takes patience and understanding of a practitioner’s strengths and areas for improvement. Take time to flesh out the details and if possible, consult with experts to fortify plans.
Accessibility pertains to the availability of business information and ease of communication channels. It’s about making the client journey as simple and easy as possible. Using tools that help expedite booking, appointment rescheduling, and inquiry forms assist both the client and practitioner to come together in a shorter amount of time. Management tools such as TheraSmart were founded on this need and so much more.
The future is bright. Look ahead with positivity, courage, and a sense of excitement for things to come.
-  https://nccih.nih.gov/research/statistics/NHIS/2017
-  https://medicalxpress.com/news/2018-11-adults-complementary-alternative-medicine-england.html
-  https://www.grandviewresearch.com/industry-analysis/complementary-alternative-medicine-market
-  https://globalwellnessinstitute.org/press-room/press-releases/wellness-now-a-4-2-trillion-global-industry/