About Ayurveda
Ayurveda is the oldest healing science originated in India more than 5,000 years ago. It emphasizes good health and prevention and treatment of illness through lifestyle practices such as massage, meditation, yoga, and dietary changes and the use of herbal remedies. According to this, the five elements of nature (Space, Air, Fire, Water and Earth) combine in the body as three components known as Vatta, Pitta, and Kapha. Ayurveda works on balancing these doshas to be required for optimal health. It can be used to maintain health, reduce stress, and improve flexibility, strength, and stamina. The Indian Government set up AYUSH ministry to promote Ayurveda and traditional systems of medicine while the indian council of medical research is conducting molecular-based studies to validate the efficacy of Ayurveda medicines
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 15.02% |
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain competitive advantage through combined collaborations. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Ayurveda market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Emami Group (India), Vicco Laboratories Pvt. Ltd. (India), Patanjali Ayurved Ltd. (India), Baidyanath Group (India), Dabur (India), Hamdard (Wakf) Laboratories (India), Charak Pharma (India), Zandu Pharmaceutical Works Ltd. (India), Elzac Herbals (India) and The Himalaya Drug Company (India) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Ayurveda market by , Application (Gastrointestinal Diseases, Cardiac Disorders, Respiratory Disorders, Psychological Disorders, Movement Disorders and Others) and Region.
On the basis of geography, the market of Ayurveda has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Treatment, the sub-segment i.e. Vamana will boost the Ayurveda market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Form, the sub-segment i.e. Herbal will boost the Ayurveda market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online Channel will boost the Ayurveda market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-user, the sub-segment i.e. Ayurveda Centres will boost the Ayurveda market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Shifting of Consumers toward Ayurvedic Treatment and Increasing Focus of Consumers on Preventive Healthcare
Market Growth Drivers:
Increasing Acceptance of Ayurveda Treatment Worldwide, Effective Treatment without Any Side Effects of the Medicines, Increased Investment of Large Players in the Market and RIse in the Promotional Activities by Manufacturers of Ayurvedic Products
Challenges:
Less Awareness in Western Countries and Lack of Availability of the Skilled Professionals
Restraints:
Lack of Scientific Validation for Ayurveda Treatments and Availability of Alternative Treatments in the Market
Opportunities:
Growing Ayurveda Industry Worldwide, Rise in the E-commerce Industry and Increasing Online Demand for Ayurvedic Products
Market Leaders and their expansionary development strategies
In November 2023, Unilever has collaborated with the Department of Ayurveda, this strategic partnership with the Department of Ayurveda highlights Lever Ayush's commitment to promoting traditional medicine and integrating traditional medical knowledge into modern health and beauty concepts.
In January 2024, SMART 2.0 launched for Ayurveda teaching professionals. This program to promote robust clinical studies in priority areas of Ayurveda with Ayurveda academic institutions/hospitals across the country through mutual collaboration.
Key Target Audience
Ayurveda Product Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.