Ayurvedic Medicine Market Size, Share, Growth, And Industry Analysis, By Type (Health Care, Oral Care, Hair Care, Skin Care, and Others), By Application (Women, men, and kids), Regional Forecast To 2031

Updated On: 08 April 2024

Ayurvedic Medicine Market Report Overview

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global ayurvedic medicine market size was USD 5776.4 million in 2022 and market is projected to touch 16016.17 Million by 2031, exhibiting a CAGR of 12% during the forecast period.

Rooting from India, Ayurvedic medicine is a traditional approach to medicine. Ayurvedic medicine is inclusive of herbal medicine, massage therapy, yoga, acupuncture, and dietary changes. With fewer side effects and more positive results, ayurvedic medicines have gained not only fame but also the trust of consumers. Ayurvedic medicines try to make one healthy by developing one’s strengths and balancing elements in the body. Ayurveda makes one aware that they have to be patient enough in their healing process and have to be consistent as well. 

People today have become more aware and cautious about their health. People want to go for the safer alternative even if it takes time to show results.  The ayurvedic medicines market is boosting with each passing day because people are looking for an alternative that reduces the possibility of falling sick and promotes harmony. The disappointment the consumers have from allopathy medicines is also encouraging the use of ayurvedic medicines. Earlier ayurvedic medicine was popular only in a few regions but now it is expanding and gaining significance in the global market as well.

COVID-19 Impact: Sustained Because Of Favorable Regulation For Health Safety 

There was not a single sector that was unaffected by COVID-19. The Ayurvedic medicine market was disturbed as well. The COVID-19 pandemic did affect the production process of ayurvedic medicine but because now the people were careful when it came to health , therefore the government laid favorable rules and regulations for the ayurvedic market.  When during the pandemic all the allopathy medicines failed it was ayurvedic medicines that helped the world to fight against COVID-19. 

Latest Trends

"Holistic Approach For Treating Patients Calls For More Ayurvedic Therapies "

There is a myth that when we say treatment we are talking just about the pills and medicines. But the ayurvedic market is as dynamic as any other market. In the market, there is everyday development of ways to treat people more effectively and efficiently. There is an introduction of several therapies like abhyanga massage and Kati vasti treatment which are used to cure patients and make their bodies stronger.  

Ayurvedic Medicine Market Segmentation

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• By Type Analysis

According to type, the market can be segmented into Health Care, Oral Care, Hair Care, Skin Care, and others.

In terms of services, health care is the largest segment, as it holds the maximum share of the market.

• By Application Analysis

Based on application, the market can be divided into women, men, and kids.

Driving Factors

"Rising Demand For Natural Products Has Increased The Demand For The Ayurvedic Medicine Market"

The ayurvedic medicine market has witnessed massive growth because of several factors but the prime factor promoting the ayurvedic medicine market growth involves rising demand for natural medicines, more aware consumers, and the new trend of medical tourism as well. Consumers are now picking natural products for protecting themselves from the harmful side effects of artificial products. The significance of boosting immunities has improved and this has in turn driven the market as well. 

"Propelling Trend Detoxification Therapy Influences The Demand For Ayurvedic Medicines"

When one consumes any allopathy medicines, they are not sure if it will cure their current problem and they are afraid of the side effects as well. But, when one consumes ayurvedic medicines they know that it will help them to bring calmness to their soul and mind. Ayurvedic medicines not only cure diseases but also boost your immunity to fight upcoming disorders. It makes your body stronger than before and helps you to detoxify your body. Medical tourism has also positively affected the demand for ayurvedic medicines.

Restraining Factors

"Time-Consuming Factor Of Ayurvedic Medicines Lead To A Declining Trend In The Market "

The world is no more walking it is running and that too rapidly and this is why for every problem, people need an instant solution. When it comes to their health sometimes to save time and for quick response, they want immediate effect and this requirement is not fulfilled by ayurvedic medicines. This is because ayurvedic medicines take time to show effects. Along with being a little slow, the ayurvedic medicines market is facing a declining trend of being more expensive than allopathy medicines. 

Ayurvedic Medicine Market Regional Insights

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"Asia- Pacific Region Dominates The Market Due To The Tradition Of Using Herbal Medicines "

Asia- Pacific region holds the dominant ayurvedic medicine market share in the global market. This is because of various factors. One of the primary factors is that this region shows an inclination toward adopting herbal medicines and traditional ways of treatment. The people here have more faith in ayurvedic medicines as it is a belief practiced for many years. Also, since the roots of ayurvedic medicines lie in the countries in this region it promotes more demand for ayurvedic medicines. There is also an increase in the adoption of new ayurvedic ways for the treatment of several diseases.

Key Industry Players

"Key Players Focus On Innovations And Collaborations "

The key players have noted the shift from allopathy medicines to ayurvedic medicines and therefore they work on the development of new medicines from traditional ways which are effective and come with fewer or no side effects. The increasing will of people to spend more on their health has also influenced the companies to collaborate to produce at a large scale to earn more revenue as well as dominance in the market.    

List of Market Players Profiled

• Patanjali Ayurved Limited
• Dabur
• Emami Group
• Himalaya Drug
• Maharishi Ayurveda
• Baidyanalh
• Shahnaz Husain Group
• Vicco Laboratories
• Amrutanjan Healthcare
• Charak Pharma
• Botique
• Herbal Hills
• Basic Ayurveda
• Natreon

Report Coverage

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Furthermore, the post-COVID-19 pandemic’s effect on international market restrictions and a deep understanding of how the industry will recover and strategies are also stated in the report. Finally, the competitive landscape has also been examined in detail to provide clarification of the competitive landscape.