Industry Background:
Ayurvedic medicine market is expected to grow in the future due to the growing awareness about effectiveness of Ayurveda and rising support of government to this medicine. For instance, the government of India is taking initiatives to increase this share, like it has set up the Ministry of AYUSH to ensure the optimal development and propagation of Ayurveda. Rising awareness of the adverse effects of allopathy among consumers boosting the demand for ayurvedic medicine.This growth is primarily driven by The Increasing Popularity of Natural and Organic Medicines in Developing Countries
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Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Pharmaceuticals sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Maharishi Ayurveda (India), Dabur (India), The Himalaya Drug Company (India), Herbal Hills (India), BioBaxy Technologies (India), Planet Ayurveda (India), Patanjali Ayurveda (India), Amrutanjan Healthcare Limited (India), Charak Pharma Pvt. Ltd. (India) and Emami Ltd. (India), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In April 2022, Baba Ramdev's Ruchi Soya Industries evaluated the most efficient way to merge Patanjali Ayurved Ltd's food portfolio into itself and also decided to change the company name to Patanjali Foods Ltd. Ruchi Soya recently raised Rs 4,300 crore through her follow. -Public offering (FPO)
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., and In Sept 2019, An ayurvedic medicine to treat dengue is undergoing the third and final phase of clinical trials and will be launched within the next two years.
Influencing Trend:
Rising Demand for Ayurvedic Product
Market Growth Drivers:
The Increasing Popularity of Natural and Organic Medicines in Developing Countries and Increasing Disposable Income among Population Worldwide
Challenges:
R&D for High Yielding Varieties and Irregular Supply of Raw Material
Restraints:
Lack of National Accreditation Board for Hospitals & Healthcare Providers and Availability of Allopathy Medicines Worldwide
Opportunities:
Growth of Ayurvedic Industry in Developing Counties and Rising Research and Development Activites in Ayurvedic Industry
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of Ayurvedic Medicine Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of Ayurvedic Medicine Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols:
By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of Ayurvedic Medicine players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Ayurvedic Medicine Study Sheds Light on
The Ayurvedic Medicine Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Ayurvedic Medicine industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Ayurvedic Medicine industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.