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Ayurveda Current Market Scenario

The total market growth of OTC herbal products is still occurring through new products and product innovations. Driving this growth are:

  1. increasing use of Ayurvedic products in the all age categories of population segment, whose numbers are increasing
  2. increasing awareness of the side effect of allopathic medicines are diverting customers to herbal products.

Indian pharmaceutical market currently stands 9th in the world market for pharmaceuticals with 1.5 % share. Current demand in the market is at an annual rate of 15 to 20 %. As per latest market research report there has been dramatic growth in Ayurvedic pharmaceutical market in India during last 2 decade. According to world bank the global market for medicinal plants & products includes the potential sectors of pharmaceuticals, Nutraceuticals, Cosmetics & Agro- chemicals and India has enormous resources of medicinal plants. India is a heaven for 8000 medicinal plants.

Since this traditional knowledge of Ayurveda & its applications to cure is not available to other countries ,India could gain very significant competitive edge in global market of Ayurvedic pharma industries.

India's Ayurvedic pharmaceutical market will offer many opportunities for foreign pharmaceutical companies in future. Average per capital expenditure pharma in India is less than other countries due to price control & alternative medicines like Ayurveda.

Other countries are also recognizing the importance of herbal products. There are more than 30 ayurvedic companies doing million dollar per year in business to meet the growing demand of Ayurvedic medicines. Total export earning of Ayurvedic medicines is 5000 crores till 2006. So, "Herbal Revolution 'by India is just waiting to happen.