Ayurveda Market 2021 Regional Outlook, Competitive Strategies & Forecast by 2027

Ayurveda Market Information by application (medicinal, personal care), by disease pattern (respiratory system, nervous systems, gastrointestinal tract, cardiovascular system, infectious diseases, skeletal system, skin and hair), by source (vegetable, animal and mineral), by form (herbal, herbomineral, mineral), by end-users (academia and research, hospitals and clinics), by distribution (organized, over the counter)  – Global Forecast to 2027

Global Ayurveda Market to Witness a Healthy Growth Over 2023

There is a growing market for Ayurveda worldwide. Market Research Future (MRFR) in its study found that global Ayurveda market is moving on an upward trajectory. A class of herbal medicine, the existence of which can be traced back to ancient India the place of its origin. Ayurvedic products are popular in countries such as Sri Lanka, Pakistan, Nepal and Myanmar. Ayurveda due to minimum or zero side-effects is gaining traction overseas. The segment is drawing significant commercial interest.

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The previous few years saw the revival of traditional medicines. In fact, government in many countries are expressing their support to traditional medicine by launching awareness campaigns and providing R&D funds for traditional medicines. For instance, The Beijing declaration on traditional medicine by the World Health Organization is major move towards acceptance of traditional medicine. Similar, Government in India set up The Ministry of Ayurveda, Yoga & Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) to promote traditional and alternative medicine. Such factors are expected to favour the market growth in the years ahead. At the same time, increased R&D and development of new ayurvedic products are some of the emerging industry trends. Ayurvedic medicines are being used for treating chronic diseases such as cardio vascular disorder, Hepatitis, arthritis, rheumatic disorders, allergy, etc.

Global Ayurveda Market: Competition Analysis

Key companies mentioned in the report include Charak Pharma, Dabur, Patanjali Ayurved Ltd., Emami Group, Zandu Pharmaceutical Works Ltd, Vicco Labs, Hamdard laboratories, and Baidyanath Group.

Global Ayurveda Market: Segmental Analysis

Segmental analysis of the Ayurveda Market has been conducted based on disease pattern, form, distribution, application, end users, and source.

On the basis of disease pattern, the market has been segmented into nervous systems, cardiovascular system, skeletal system, respiratory system, skin and hair, infectious diseases, gastrointestinal track and others. Based on form, the market has been segmented into mineral, herbomineral, herbal and others. On the basis of distribution, the market has been segmented into over the counter, organized and others. Based on application, the market has been segmented into personal care, medicinal and other. Based on end user, the market has been segmented into over, hospitals and clinics, academia and research and other. On the basis of source, the market has been segmented into animal (bones, oils and other) and vegetable (seeds, leaves and fruit, bark, roots and other).

Global Ayurveda Market: Regional Analysis

Asia Pacific spearheads the global Ayurveda market. India makes a significant contribution to the APAC Ayurveda market in terms of revenue. Ayurveda originated in the Indian sub-continent hence demand for Ayurvedic products is significantly high in the region. The India Ayurveda market is currently valued at around USD 1200 Mn. Ayurveda is also gaining popularity in other parts of the worlds. Demand for ayurvedic products in countries such as USA, Ukraine, Philippines, Mauritania, Japan, Kazakhstan, UAE, Russia among others is on the rise.

Regions such as Europe, North America, the Middle East and Africa are expected to present attractive market opportunities if the forthcoming years on account of increase product uptake. Rising preference for herbal and natural product is expected to support the market growth in these regions during the forecast period.

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