largest producer of ayurvedic products including medicinal products which is undoubtedly
impacting the regional market growth positively.
North America accounts for one of the growing markets for Ayurveda owing to the high per
capita income and healthcare expenditures, the U.S. and Canada are major markets for
Ayurveda in the region. Strong potential of Ayurveda products, rising application areas and
therapeutic applications in cosmetics and personal care are supporting market growth in the
region.
Whereas, in Europe, another promising market for Ayurveda, France, Italy, and Germany
are major Ayurveda products market. Increasing popularity of Ayurveda as therapeutics and
pharmaceuticals is supporting the Ayurveda market in the region. High disposable income
and the presence of large facilities especially in France and Germany drive the regional
market growth.
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Industry/innovation/Related News:
April 25, 2018 - Hanna, LLC (US), an Ayurvedic-influenced company announced the launch
of its new product - HANAH Cordyceps+, wild-harvested from the Bhutanese Himalayas. The
new product is a powerful combination of wild Bhutanese Cordyceps sinensis, a rare
Himalayan medicinal mushroom, with eight other herbs and minerals all wild harvested from
the untouched Bhutanese Himalayas.
August 14, 2018 – India - Ministry of AYUSH introduced new Central Sector scheme for
promoting pharmacovigilance of Ayurveda, Siddha, Unani and Homoeopathy (ASU&H)
Drugs.
The prime objective of the scheme is to develop the culture of documenting adverse effects
and undertake safety monitoring of these alternative therapies including Ayurveda and
Homoeopathy alongside surveillance of misleading advertisements appearing in the print
and electronic media.
The scheme intends to facilitate the establishment of a three-tier network of National
Pharmacovigilance Centre (NPvCC), Intermediary Pharmacovigilance Centres (IPvCCs) and
Peripheral Pharmacovigilance Centres (PPvCC).