Ayurvedic medicines are being accepted globally and ayurveda product market is estimated to grow to $5 trillion by 2050 according to the world bank.
Ayurveda has made a comeback in India and has spread around the world to Europe, Japan, and North and South America. There are 108 Ayurvedic colleges in India that grant degrees after a five-year program, and three hundred thousand Ayurvedic physicians are represented by the All India Ayur-Veda Congress.
Ayurvedic medicine is also called Ayurveda. It is a system of medicine that originated in India several thousand years ago. The term Ayurveda combines two Sanskrit words–ayur, which means life, and veda, which means science or knowledge. Ayurveda means "the science of life."
Ayurveda has long been the main system of health care in India, although conventional (Western) medicine is becoming more widespread there, especially in urban areas. About 70 percent of India's population lives in rural areas; about two-thirds of rural people still use Ayurveda and medicinal plants to meet their primary health care needs.
In addition, most major cities have an Ayurvedic college and hospital. Ayurveda and variations of it have also been practiced for centuries in Pakistan, Nepal, Bangladesh, Sri Lanka, and Tibet. The professional practice of Ayurveda in the United States began to grow and became more visible in the late 20th century.
Ayurvedic conferences, sponsored by governments and/or medical associations, have taken place in Brazil, Poland, Czechoslovakia, and Hungary. In the Soviet Union, the Soviet Research Center for Preventive Medicine oversees the Institute of Maharishi Ayur-Veda. In the United States, the National Institutes of Health is researching Ayurveda and its integration with other healing practices, such as naturopathic, chiropractic, and allopathic medicines
- The business prospects are, $20 billion ready market, which is growing at much faster rate and as per World Bank estimates by 2050 $5 trillion market.
- The Chinese have entered with acupuncture and are now introducing herbs with modern scientific studies.
- Recently the tourism industry have begun heavy promotions and many new centers have been opened to meet the demand. Bangkok-type massage parlours are being offered.
- Cultivation, variety, chemical constitution for marker standardization (not active ingredients), microscopy and macroscopic standards, physical constants, human clinical records, epidemiological studies of safety are all essential for each plant and product. Supportive biochemical pharmacological and clinical records will go very well for market.
- Required funding: The work that needs funds for initial investment for development of a product. Hence only companies that can withstand demand of funds should start such work, other players can become team partners. Also institutions, venture entrepreneurs and governments can do this.
- Ayurveda doesn't cause side effects and is so inexpensive compared to allopathic medicines, healthcare industry will make good use of Ayurveda.