Ayurveda, although a traditional Indian healing system, worldwide, it has long been
recognized as an effective alternative treatment, being offered in therapeutic practices. It
takes a holistic approach to health, promoting daily maintenance of the mind, body, and
soul, striking a balance between the two which further reduces the risk of needing major
medical intervention in the future.
Alongside the recognition, Ayurveda has also garnered huge popularity across the globe.
Online and store-based distribution channels are availing various therapeutic-grade
Ayurveda products, offering the convenience of purchasing. Resultantly, the global
Ayurveda market is growing pervasively, witnessing augmented uptake of Ayurveda as an
alternative medicine practice. All these factors such as advantages, awareness, and
accessibility cumulatively drive the Ayurveda market on the global platform.
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Acknowledging the traction this market perceives today, Market Research Future (MRFR) in
its recently published study report asserts that the already booming market of Ayurveda is
expected to gain fabulous accruals registering a phenomenal CAGR during 2017-2023.
Improving economic conditions worldwide are fuelling the urbanization, further ushering in
the problems of the changing lifestyle. Simultaneously, the improving economy is fostering
the market growth, enhancing the quality of life of people making the best healthcare
available to them. The non-invasive nature of Ayurveda is also one of the key factors
fostering the market growth exclusively.
Conversely, there are some growth restraining factors as well that are expected to hinder
the market growth. These factors are stringent regulations about the obligatory
differentiation label on the product citing therapeutic grade or cosmetic grade products, and
lack of expertise Also, the fact that there is no solid medical evidence that Ayurveda
prevents or cures diseases mentioned above, is impeding the market growth up to some
extent.
Global Ayurveda Market - Competitive Analysis
Key players are more focusing on the expansion of Ayurveda business across the globe
which is contributing around 40% of strategy share. After expansion, key players are
acquiring companies to strengthen their presence and to get an edge over increasing
competition. R&D, partnership, and product launch contribute equally (~10%) in the
strategic share of key players in Ayurveda market.
Key Players:
The global Ayurveda market is led by some of the fervent players including Patanjali
Ayurved Ltd., Zandu Pharmaceutical Works Ltd, Dabur, Baidyanath Group, Charak Pharma,
Hamdard laboratories, Vicco Labs, and Emami Group
Global Ayurveda Market - Segments:
The MRFR analysis is segmented into seven key dynamics;
By Applications
: Medicinal, and Personal Care among others.
By Disease Pattern
: Respiratory System, Nervous Systems, Gastrointestinal Track,
Cardiovascular System, Infectious Diseases, Skeletal System, Skin & Hair among others.
By Sources
: Vegetable (leaves and fruit, seeds, roots, bark and other),
Animals (oils, bones, and other) and Minerals.
By Forms
: Herbal, Herbomineral, and Mineral among others.
By End-Users
: Academia & Research Centers, Hospitals, and Clinics among
others.
By Distributions
: Organized, and Over the Counter among others.
By Regions
: North America, Europe, APAC and the Rest-of-the-World.
Global Ayurveda Market - Regional Analysis
The Asia Pacific region is estimated to dominate the market with the largest market share in
terms of revenue and size both, followed by North America and Europe respectively. Led by
China and India, the region is expected to emerge as the fastest growing market for
Ayurveda, owing to their rich traditions of herbal medicines. Besides the APAC region is the