Keia Ltd was founded to address the very fragmented global market in which a large number of wellness practitioners operate. Wellness practitioners or holistic health practitioners are professionals who provide holistic health-related services, including counsellors, doctors, nurse practitioners, nutritionists, therapists, and other healthcare professionals. The wider wellness market place includes beauticians, hairdressers and masseurs who also play an important role in maintaining an individual’s health and emotional wellbeing.
The Company’s cloud-based platform currently provides access to 26 wellness therapies, ranging from acupuncture, massage and physiotherapy to relationship counselling and yoga. The platform aims to bring these varied services to consumer via home visits, video appointments, and clinic visits.
The Company has identified through extensive market research that there is an opportunity to disrupt the existing wellness market place by allowing customers to search against a wide range of wellness offerings within a single view, and then allow the end-user to filter against a range of criteria including locality, services offered, cost information, availability and online booking (when available) as well as previous client/peer feedback. The Company’s platform is also constructed to allow practitioners to cross-sell their products and services, as well as introduce suggestions to customers such as “you’re looking for a spa treatment have you considered trying a yoga or mediation class?” in an effort to extend the consumers overall spend/basket.
Whilst it is readily accepted that there the global wellness market is a very competitive space with a multitude of differing size companies offering a variety of products and services, Keia has reported that it has identified that there currently is no single, potentially global platform that brings together all available wellness offerings into one single consumer view.
The global Wellness Institute has stated in their report that the global wellness economy is an estimated $3.7 trillion market .
According to the report issued by the Global Wellness Institute titled ‘Global Wellness Economy Monitor’, issued in January 2017, the global wellness industry grew 10.6% from 2013-2015, increasing in market size from $3.36tn to $3.72tn globally .
In the UK, PwC has reported that the UK healthcare and wellbeing market is large (c. £180bn) and growing, of which fitness and wellness accounted for £20.1bn in 2016 [3