Ayurveda, next big thing in medical industry, expert analysis.

  INDIA - 09/13/2017 (PRESS RELEASE JET)

One of the very few things India is identified with globally is its centuries’ old Ayurveda system of wellness and healing. In this fast-paced and mostly urban-centric life, peace of mind and physical well-being become the first casualty. And undoubtedly people are increasingly turning to Ayurveda as a cure to the many maladies that afflict them. Over the years, India has come to be recognized as the global hub of Ayurveda, resulting in the establishment and consequent growth of a well-entrenched infrastructure consisting of hospitals, wellness centres, and a slew of companies offering a wide range of cosmetic as well as wellness products.

The country, especially the southern region, has emerged as a sought-after destination for medical and wellness tourism. The southern region attracts a large chunk of global medical tourists, thanks in large part to the existence of the requisite infrastructure. Apart from around one thousand government hospitals, the region is home to many private healthcare hubs, dispensaries and close to thousand Ayurvedic medicine manufacturing units.

The increasing popularity of Ayurvedic products, both in the wellness and cosmetic segments, points to the raising awareness about the Ayurveda way of life in India. “As per a TechSci Research report, Indian Ayurvedic products market is set to register a CAGR of 16% during 2016-2021. In 2015, Ayurvedic personal care market cloaked the biggest revenue share in India,” Dr. Sajith Varma, Head – Sales and Marketing, Nagarjuna Ayurvedic Centre Ltd.

Today it is an accepted fact that Ayurveda offers panacea for many illnesses where the modern medicine fail. Its ability to provide therapeutic succor to many diseases without any side effects has gained traction among the masses.

“I feel that India as a country is yet to harness the full potential of Ayurveda. A lot can be achieved in the sector if all the stakeholders strive to explore the possibilities in their entirety. The government’s ambitious ‘Make in India’ campaign is a step in the right direction. How we can nurture and sustain true entrepreneurial spirit in the sector by promoting novel as well as meaningful ventures under the ‘Make in India’ campaign? I feel there is a lot the authorities can do in this regard,” said Krishnan Namboothiri, Nagarjuna Ayurvedic Centre Ltd, based at Kaladi in Kerala.

As far the challenges are concerned, like in any other field, Ayurveda has its share of bad apples. It is in the interest of the sustainable growth that all the stakeholders concerned strive to eradicate the scourge of quacks and fakes. The need of the hour is a strong regulatory mechanism to oversee the lowering standards in the field as a result of a mushrooming of unscrupulous and avaricious players.