Ayurveda Market Size, Growth and Trends Analysis by application, disease pattern, source, end-users and distribution, Forecast to 2027

NEW YORK, NEW YORK, USA, January 18, 2022 /EINPresswire.com/ --
Global Ayurveda market is likely to record substantial growth over the assessment timeframe says market research future (MRFR). Ayurveda refers to one of the kinds of the medical system obtained from Ayurvedic natural plants and herbs. It is an Indian alternative medicine system with traditional roots. The products contain natural bio-active compounds used to prevent diseases. The primary target of ayurvedic medicines is to profit humans to perdue their lives strong and healthy without relying on any medications, complex surgeries, or further painful interferences.

The global Ayurveda market has witnessed massive growth due to the growing preference for herbal products like almond oil, spices, cookies, jam, biscuits, corn flakes, oats, and herbal tea. Furthermore, growing awareness among people and rising incidence and prevalence of chronic diseases are also likely to boost the market's growth rate over the review timeframe. However, the market's growth is likely to be hindered by the adverse weather conditions in India and the excessive use of pesticides and insecticides.

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Segment Analysis

The global Ayurveda market is split into several segments based on form, distribution, end-users, source, application, disease pattern, and region.

The ayurveda market is split into personal care, medicinal, and others based on application.

By disease pattern, the global market for Ayurveda is bifurcated into the skin and hair, skeletal system, infectious disease, cardiovascular system, gastrointestinal tract, respiratory system, nervous system, and others.

Based on the source, the market is split into animals and vegetables.

By form, the Ayurveda market is divided into mineral, herbomineral, herbal, and others.

The global market is split into hospitals and clinics, academia and research, and others based on end users.

Based on distribution, the Ayurveda market is bifurcated into over-the-counter, organized, and others.

Regional Analysis

The Ayurveda market is studied across five major regions: North America, South America, Europe, Asia-Pacific, and the Middle East & Africa.

The Asia-Pacific regional market for ayurvedic medicine secures the top position globally. The regional market's growth is attributed to the rich culture of herbal medicines in Myanmar, Pakistan, Sri Lanka, India, and others. As per the reports by MRFR, India was the largest market across the globe in 2016, worth over USD 1200 million and exports worth USD 64 million. The Senna and Psyllium are the leading exports of the Indian Ayurveda that are projected to propel the growth of the Indian market over the coming years.

Russia contributes to the second biggest market share, followed by the growing demand in the USA, Kazakhstan, Nepal, and Ukraine.

The European regional Ayurveda market is likely to record substantial growth over the coming years owing to the rising demand for natural therapies across the region.

Competitive Analysis

The global Ayurveda market has robust competition, with players actively enhancing competition. The leading players in the ayurveda market include Hamdard laboratories, Charak Pharma, Baidyanath Group, Emami Group, Patanjali Ayurved Ltd, Vicco Labs Zandu Pharmaceutical Works Ltd, Dabur, and several others.

Recent Developments

The corporate venture capital platform of Crescent Enterprises, with the help of CE ventures, and Japan-based ICMG announced the partnership, with taking the lead, raised USD4 million in the pre-series B round for tech platform NirogStreet. The money will be used to innovate product and service offering for Ayurvedic doctors and elevate and strengthen operations.

The deputy CEO and head of investments at Crescent Enterprises, Tushar Sanghvi, said that the company is happy to board on this journey with NirogStreet. The firm has exhibited the enormous value and opportunity in the ayurvedic market that is likely to cross USD 9.5 billion, and also the limitless possibilities, which tech-enabled solutions can provide.

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Vaidya Sane Ayurved Laboratories Limited, Speciality chain Of Cardiac Clinics, an extraordinary medical service institution called 'Madhavbaug,' which treats chronic diseases such as hypertension, diabetes, obesity, and cardiac disease with the differentiative view of merging technology with traditional healing of Ayurveda has registered its draft red herring prospectus (DRHP) and has got in principle, approval from NSE. Madhavbaug's way of treating is multidisciplinary, non-invasive, and includes innovative therapies.

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