The COVID-19 has posed a compound challenge in front of different industries which has badly impacted the worldwide market. However, it has boosted the growth of companies involved in health & wellness as there is great need of such products.
COVID-19 has most positively impacted the global health & wellness market. During the pandemic, more and more consumers prioritize their mental & physical health. Thus, during this terrifying time, health & wellness products provide consumers with a sense of individual control, help cultivate inner calm and offer much needed emotional control.
The COVID-19 stimulated the growth of health & wellness products by re-prioritization of consumer values including an increasing focus on health in a holistic manner. The wellness has become a lifestyle rather than an occasional activity and encompasses many angles of consumer’s daily life.
The growing healthcare market comprises hospitals, medical devices,clinical trials，外包，远程医疗，医疗旅游，健康保险和医疗设备。虽然，健康市场包括三个部分：营养保健品，替代疗法和健身和瘦身。
During the last couple of years, people throughout the world have become more self-aware about the importance of health & wellness. Achieving great mental and physical health entails diving deep into the health & wellness industry.
There is currently a shift towards a value-based healthcare market in which price and purchase decisions are based on outcomes. Since the outbreak of COVID-19, the consumers have rapidly shifted their behaviours to both better protect themselves from the virus and adapt to various social distancing requirements.
With supplies of many raw materials becoming harder to secure due to the pandemic, the price volatility may not be just a temporary phenomenon. The cost of production has shot up for the manufacturers because of higher input costs, particularly raw materials.
The COVID-19 pandemic has declined short-term potential growth opportunities for the health & wellness industry. Moreover, the increasing prevalence of COVID-19 all around the world is responsible for creating a restrained effect on global health & wellness market.
At this point, it is hard to approximate the huge costs associated with impact of COVID-19 but it is safe to say the negative financial effect will last for many years.
Surge in COVID-19 cases have increased the consumer demand for vitamins, minerals and supplements as customers look to support their immune, health, boost overall wellness and reduce anxiety.
The products and services that embrace the principles of prevention and protection may find a stronger relevance among consumers today amid COVID-19 pandemic. During the pandemic, consumers are focusing more and more on necessities and foregoing non-essential luxuries. There has been a surge in demand for immunity-positioned supplements including Ayurveda medicines and products as consumers pursue different ways to combat the virus.
COVID-19 perhaps dictated a bigger shift in the healthcare sector by bringing about a radical change in the way people consumedhealth supplements。这导致了生活方式的重大变化。由于Covid-19大流行之后，由于消费者的意识日益增强，对个人卫生和家庭护理产品的需求增加。制造公司认为，大流行使消费者更加了解个人层面的卫生以及家庭，以减少感染的机会。
However, there are three main adverse effects of supply chain disruptions in the health & wellness sector which impact on new product launches, impact on manufacturing units and impact on marketing and communication channel.
Thus, the companies operating in health & wellness market are embracing several strategies including new product development, venture capital investment, strategic collaborations and agreements and product portfolio expansion. These strategic decisions by the companies are anticipated to provide new opportunities for the market players operating in global health & wellness market.
The COVID-19 pandemic has led to restrictions all across the borders which led to disruptions insupply chains。However, the rising demand for health & wellness products led to an increase in the market. Moreover, various types of strategic initiatives taken by market players will help to provide new opportunities in the industry.
Now, as the instant crisis transform into a semi-permanent state, health & wellness companies and sponsors need to take steps to work around the virus.