The global Ayurveda market is expected to reach US$ 9.791 billion by 2022.
The Indian AYUSH market stands at US$ 10 billion and promises to grow 50% by 2025.
‘AYUSH’ is one of the 12 champion services sectors India wants to promote.
Integrating economics, ethics and ecology, AYUSH exemplifies the idea of Inclusive Medicine by transforming both rural and urban healthcare. India is actively involved in the expansion and development of AYUSH industries through governmental interventions. AYUSH, by being cost-effective, has the potential to include great swathes of patients left out by the system of allopathic medicine. In this regard, Pradhan Mantri Bharatiya Janaushadhi Pariyojana (PMBJP) is an ambitious countrywide drive on inclusive medicine wherein generic medicines are distributed in 6500 outlets at costs 50-90% lower than the market value. PMBJP has been a huge boost to AYUSH industries as 70 ayurvedic drugs have been included in the medicine basket.
Sushruta Samhita- Roughly composed between 600 BC and 500 CE, the Sushruta Samhita is a seminal treatise on surgery and anatomy. It is the first text in human history to describe reconstructive surgery and human dissection.
Charaka Samhita – A treatise compiled between 200 BCE and 200 CE, Charaka Samhita deals with the areas of Toxicology, Mental and Reproductive Health.
The impact that AYUSH systems can create by harnessing India’s rich biotic resources is reflected by the fact that at the turn of the 21st century, 11% of WHO’s Trusted Source of “basic and essential 252 drugs’’ were “exclusively of flowering plant origin”. The phenomenal projections of 38.5% CAGR increase in the market for medicinal plants provide a glimpse into the diverse applications of the still untapped potential of Indian flora.
The global Ayurveda market is expected to reach US$ 9.791 billion by 2022, growing at a CAGR of 16.2%. The Indian Ayurvedic industry had an estimated size of US$ 3 billion, as of 2016.
Patanjali’s disruption of the domestic FMCG industry has demonstrated the size of the market that ayurvedic products cater to. By 2017, about 77% of Indian households were using at least one Ayurvedic product. By 2022, this market is projected to rise threefold to US$ 8 billion.
Originating in India about 5000 years ago, the practice of Yoga (Sanskrit, for Union) with its philosophical basis in the Yoga School of Thought embodies a holistic approach to physical, spiritual and mental well-being. Yoga is an ancient gift that the world has received from India, a country on whose proposal the UN decided to mark 21st June as the International Yoga Day.
We live in a world where over half of the 200 million Yoga practitioners are of Indian origin, in a global yoga market whose size was US$ 37.5 billion, as of 2019. This figure is projected to reach US$ 66.2 billion by 2027. Indian destinations like Rishikesh, Auroville, Dharamshala and Varanasi have witnessed a surge in Yoga tourism, where numerous yoga studios and retreats are being set up, aided by generous tax rebates and FDI inflows.
The AYUSH Industry in India with its longstanding legacy of indigenous knowledge, 100% FDI, sustained institutional support and a vast customer base is on a definitive path to exponential growth. What remains to be seen is who accompanies the industry on its surefire way to success.