Ayurveda Market Application, Growth Factors, Development and Forecast 2030
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.
Acknowledging the traction this market perceives today,
Market Research Future (MRFR) in its recently published study report asserts
that the already booming Ayurveda
Market is expected to gain fabulous accruals registering a phenomenal CAGR
During The Forecast Period.
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.
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. market
report offers comprehensive study of the Ayurveda
Products ,Overview, Regional Overview, Segments.
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 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.
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
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