Current Scenario of Indian Ayurveda Industry

Ayurveda is a conventional system of medicine based on the roots of Indian subcontinent, and it is believed to be a form of healing treatment which is transferred from the Gods to sages and then to human physicians. While the name Ayurveda is a Sanskrit word that means knowledge of life and longevity.

Currently India owns several Ayurvedic medicines manufacturing companies, but most of them are small scale that includes various neighbourhood pharmacies that have ingredients to produce their own remedies. Meanwhile there are many other companies which are dominating the Ayurvedic industry in India to meet the developing demand for Ayurvedic medicine.

Right now the world is rapidly tending over natural and organic stuff, and the very old traditional Indian science of medicine and healthcare, Ayurveda is reliving with its pride. According to the study conducted by Confederation of Indian Industry (CII) it is reported that the Ayurveda sector in India will gross a total revenue of $4.4 billion, or nearly 30,000 crore INR by the end of 2018. Along with which its total yearly growth rate has hiked by 16% until 2025.

While the CII study also noted the two challenges that could be faced by the Ayurvedic industry that include deficit of human resource and deficit of quality raw materials. The shortfall of expert professionals including doctors, paramedical staff, therapists and nurses is the main challenge faced by the industry, and it seems to be a lack of consistency in skill and knowledge among the available human resource. Coming to the availability of raw materials there is a lack of medicinal plants and herbs since they are becoming imperil or the production rate is reduced because of many factors such as unfavourable weather conditions.

Some of the major Ayurveda suppliers in India are Dabur, Baidyanath and Zandu, which together totals about 85% of India's domestic market.

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