Ayurvedic medicines are 5,000-year-old medical treatment knowledge of natural healing, which has yet stood the test of time. Its origin is from India through Vedic scriptures and is considered to be the oldest healing science yet. Ayurvedic medicines are based on three principles or “doshas”: Vata, Pitta and Kapha. It is noted that the disease and illness both originate when these three energies get imbalanced. The primary and main focus of Ayurvedic medicines are to help human race live long, strong, and healthy, without depending upon any drugs, complicated surgeries or other painful interventions.
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The global Ayurvedic Medicines Market is segmented on the basis of product type, application and distribution channel
On the basis of Product type, the Ayurvedic Medicines market is segmented into:
- Healthcare Products
- Ayurvedic Nutraceuticals
- Ayurvedic Medicines
- Dietary Supplements
- Personal Products
- Oral Care
- Hair Care & Fragrances
- Cosmetics & Skin care
On the basis of Application, the Ayurvedic Medicines market is segmented into:
- Skin Diseases
- Autoimmune Diseases,
- Mental Health
- Nervous System Disorders
- Respiratory Disorders
- Other Applications
On the basis of Distribution Channels, the Ayurvedic Medicines market is segmented into:
- Pharmacy & Drug Stores
- Direct Selling
- Beauty Salons
- Specialty Stores
- Internet Retailing
- Departmental Stores
- Other Distribution Channels
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Introduction of Ayurvedic medicines products majorly nutraceuticals, dietary supplements, cosmetics & skin care products is likely to boost the market of Ayurvedic medicines in the forecast period 2018-28. Moreover, increasing health concerns and rising awareness of allopathy side-effects are few of the major driving factors that is anticipated to drive Ayurvedic medicine market. Furthermore, Ayurvedic medicines product are gaining popularity not only in India but also across the globe due to natural health medicines without any side effects. Besides, Indian government and other governing bodies across other nations are encouraging & promoting usage of Ayurvedic medicines products through various modes of educational and awareness programs. Manufacturing companies in the Ayurvedic medicines market are focused on developing innovative Ayurvedic medicines as well as investing aggressively in order to generate awareness and increase their brand value across regional Ayurvedic medicines sales. Increase in number of exclusive Ayurvedic medicines store and product penetration in multi-branded stores are also boosting the growth of the market globally. As a result of all these underlying factors, it is anticipated to drive Ayurvedic medicines market in the globe over the next five years. However, the Ayurvedic medicines industry is facing shortage of skilled professionals and therefore appears to be lacking in the uniformity in knowledge and skills amongst the available professionals. Furthermore, considering availability of raw materials, there is huge shortage of various medicinal plants and herbs, which are becoming endangered because of mass exploitation and industrial purposes.
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In a 2011, a 36-week period comparative study between the classic Ayurvedic medicines and prescription drug treatment (methotrecate) and two double blind randomized trial, showed fewer adverse effects in group treated with of Ayurvedic medicines. It also showed significant improvement with time and no side effects with gradual subsequent trials. Some of the prominent trends that the Ayurvedic medicines market is going to witness in next decade is increase in urbanization & changing lifestyle with more preference to consumption of natural based products, adoption of complementary and alternative medicine, new innovative Ayurvedic medicines launches and growth opportunities/investment opportunities.
Geographically, Asia Pacific and majorly India is anticipated to be the leading market in the global Ayurvedic medicines market as being the innovator and origin of Ayurvedic medicines markets in the world. Moreover, the global Ayurvedic medicines market will also grow due to the adoption of technological advancement by local and global Ayurvedic medicines manufacturers across Indian and other regions. The Ayurvedic Medicines markets in the South and East Asia are also anticipated to grow at a significant CAGR due to Ayurvedic medicines and other herbal product expansion offerings by the major global players. In addition, Ayurvedic medicines is poised to improve the health of population globally by decreasing rate of various diseases. Europe is expected to have the second largest share in the global Ayurvedic medicines market throughout the forecast period due to growing interest in ancient Sanskrit based ethno-botanical medicine scriptures
Some of the Key manufacturers operating in the global Ayurvedic medicines market include Amrutanjan Healthcare Limited, Maxcure Nutracedics Ltd, Lotus Herbals, Shree Dhootapapeshwar Ltd., Dabur India Ltd, Zandu Pharmaceuticals Works Ltd., Shree Baidyanath Ayurved Bhawan Pvt. Ltd, Patanjali Ayurved Limited, The Himalaya Drug Company, and Charak Pharma. These players are adopting sophisticated techniques in the development of Ayurvedic medicines which will help them for expansion of their product offerings, strengthen geographical presence, and gain strong market share.
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