- Almost six years ago, the Ayurveda manufacturing industry was 22,000 crore rupees and today it has reached 1,40,000 crore rupees, registering more than sixfold growth in demand.
- From the creation of a separate AYUSH ministry to the constant promotion of Yoga & Ayurveda by Prime Minister Modi himself, the government has played a key role in the rapid growth of the sector.
- Today, the West is one of the largest markets for Ayurveda and Yoga, and the people in Western countries are increasingly adopting this system of human welfare.
In the last few years, the Indian Ayurveda industry has expanded exponentially, and it is eating into the market share of big pharmaceutical companies. Almost six years ago, the Ayurveda manufacturing industry was 22,000 crore rupees and today it has reached 1,40,000 crore rupees, registering more than sixfold growth in demand.
Speaking on the market growth, Anand Shrivastava, Chairman – Maharishi Ayurveda said in a statement: “Of course, we see the rising demand of different Ayurveda products ranging from Ayurvedic Rasayanas to various immunity-boosting products of Ayurveda.”
Ayush Industry का बाजार भी लगातार बड़ा हो रहा है।
छह साल पहले आयुर्वेद से जुड़ी दवाइयों का बाजार 22 हजार करोड़ रुपये के आसपास का था।
— BJP (@BJP4India) March 27, 2022
The Modi government has made constant efforts to improve the situation of the Ayurveda industry. From the creation of a separate AYUSH ministry to the constant promotion of Yoga & Ayurveda by Prime Minister Modi himself, the government has played a key role in the rapid growth of the sector.
Previously WHO and the Ministry of AYUSH signed an agreement to set up a Global Centre for Traditional Medicine (GCTM) in Jamnagar, Gujarat. India, the pharmacy of the world will soon be a major player in preventive wellness as well.
The onsite launch of GCTM in Jamnagar will happen on April 21st, 2022. The new centre will have four key strategic areas to work: evidence and learning; data and analytics; sustainability and equity & innovation and technology. India is investing $250 million in the Centre.
According to the WHO data, around 80% of the global population is estimated to use traditional medicines and 170 nations out of 194 UN member nations have reported use of traditional medicines and many governments of these nations have asked WHO to make such a body for relevant data on traditional medicines and research.
India is already known as the pharmacy of the world and during the covid pandemic, India selflessly helped nearly 98 countries by providing medicine as a grant or commercial shipment or through COVAX alliance as per the Ministry of External Affairs Data. Medical Tourism in India has been consistently growing and according to some old data, India gets nearly $8-9 billion from medical tourism alone. It is expected to touch $50 billion by 2025.
India is focusing on holistic healthcare from Preventive to Curative. Merely absence of disease or illness doesn’t mean healthy living. Health means to be at the best of being. Indian traditional medicines have nutritious value and focus on improving all health parameters and preventing any diseases. Yoga and Meditation along with any AYUSH traditional medicine can work as preventive and curative healthcare.
Ayurveda has its roots in Hinduism and the Vedic texts have very elaborate chapters on this science. The famous practitioners of Ayurveda included – Dhanvantari, Sushen, Sushruta, and Patanjali who have contributed to human wellness by inventing Yoga, surgery and so on.
The West is obsessed with the dissection of the human body as well as illness and then performing the therapy. On the other hand, Ayurveda works as a preventive as well as therapeutic science and it is more concerned about the end result – human wellness. Allopathic practitioners use chemicals to produce drugs while Ayurveda uses a different combination of natural ingredients to treat the patients.
Today, the West is one of the largest markets for Ayurveda and Yoga, and the people in Western countries are increasingly adopting this system of human welfare. Ayurveda companies based in India are generating businesses worth billions of dollars in the Western markets.
The big allopathic pharmaceutical companies like Pfizer and Moderna are set to lose billions of dollars with the growing popularity and expanding market base of Ayurveda. Given the fact Ayurveda & Yoga focus more on preventive care, the cost of healthcare & wellness will come down drastically. And this is the reason that the pharmaceutical industry hates Ayurveda and comes with excuses to discredit the millennium-old practice.