AYUSH and Alternative Medicine Industry in India: Analysis of Growth, Trends and Progress 2022 – Daily Science

Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH) is a system of alternative medicines in India. Given its ancient scientific knowledge, India is hub to alternative medicines like Unani, Ayurveda, Sidha and Homeopathy. Alone AYUSH is USD 10 billion market and supported mainly by growing exports and domestic consumption. It is expected to grow to USD 15 billion market by 2020. Currently there are around 800 thousand AYUSH practitioner in India. Because of its herbal nature, AYUSH has almost zero side effects and provides remedies to both preventive and curative wellness.

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Growing population, rising awareness about AYUSH medicines, increasing side-effects of mainstream medicines, escalating costs of conventional health care and government support is driving the industry. Today India is one of the top exporters of alternative medicines in the world. Major export destination includes US and European countries like Germany and France. Government is also supporting the industry with proper investment in scientific research in AYUSH, building necessary infrastructure and regulatory framework. India has around 500 AYUSH undergraduate colleges and 150 postgraduate colleges. There are 8896 licensed drug manufacturing units. There are presently Central Council of Indian Medicine, Central Councils of Homoeopathy (Regulatory Councils) and five Central Councils for Research for each AYUSH.

As the demand and awareness for AYUSH is increasing, so is the demand for AYUSH products. Celebration of International Yoga Day on June 21 is an indicator of growing popularity of AYUSH. Government has allowed 100% FDI in AYUSH. The industry is expected to provide 1 million direct employment and 25 millions of indirect employment by 2020. AYUSH has the potential to boost tourism industry in India as many foreign tourist visits India for the purpose of wellness. The current government’s initiatives like easy visa norms, visa on arrival, advertisement campaigns, development of Information Technology will also benefit this industry.

Maharashtra, Tamil Nadu, Kerala and Delhi are the major hubs of AYUSH industry in India. Major investment opportunity includes drug manufacturing and export, medical tourism sector and specialized treatment centers.

What the report offers

The study identifies the situation of India and predicts the growth of its AYUSH and Alternative Medicine Industry. Report talks about growth, market trends, progress, challenges, opportunities, government regulations, technologies in use, growth forecast, major companies, upcoming companies and projects etc. in the AYUSH and Alternative Medicine sector of India. In addition to it, the report also explains economic conditions of and forecast of its current economic scenario and effect of its current policy changes in to its economy, reasons and implications on the growth of this sector. Lastly, the report is segmented by various forms of AYUSH and Alternative Medicine available in the country.

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