The global ayurvedic preparations of medicine market is expected to grow at a significant CAGR during the forecast period (2024-2031). The rising popularity of natural and organic medications, as well as their benefits, is a key driver driving the global ayurvedic preparation for medicine market. Consumer preference for ayurvedic goods in the country is being driven by factors such as increased health concerns and awareness of the adverse effects of western drugs. Furthermore, as a result of economic expansion and rising wages, per capita healthcare expenditures have increased dramatically in recent years, positively impacting the ayurvedic goods market. The distribution network for ayurvedic products has substantially improved, making these products more accessible in both urban and rural areas. The government is also encouraging the use of ayurvedic products through public awareness campaigns and incentives.
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As the world’s innovator and origin of ayurvedic medicines markets, Asia Pacific, particularly India, is expected to be the dominant market in the global ayurvedic preparations of medicines market. Since March 2020, after the COVID-19 pandemic, the Gujarat health department announced that they had administered the homoeopathic medicine Arsenicum Album-30 as a preventive treatment to around 34.8 million people, or more than half of the state’s population. When compared to other synthetic items, these treatments are more cost-effective. India is becoming one of the global leading exporters of complementary and alternative medicines.
The US and European countries such as Germany and France are major export destinations. Furthermore, the global ayurvedic medications market will expand as local and global ayurvedic medicines manufacturers in India and other areas implement technology advancements. Owing to the leading global players’ increasing offerings of ayurvedic medicines and other herbal products, the ayurvedic preparations of medicines markets in South and East Asia are expected to rise at a considerable CAGR. Furthermore, ayurvedic medicine has the potential to improve global population health by lowering the rate of numerous diseases.
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Market Coverage
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: Amrutanjan Healthcare Limited, Maxcure Nutracedics Ltd, Lotus Herbals, Shree Dhootapapeshwar Ltd., Dabur India Ltd, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Ayurvedic Preparations of Medicine Market by Segment
By Type
- Healthcare
- Cosmetics
By Application
- Men
- Women
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