India AYUSH and Alternative Medicine Market
Segments - by Types [Herbal Medicine, Aroma Therapy, Ayurvedic Medicine, Homeopathy, Acupuncture, and Others], Distribution Channels [Special Centers, Distance Correspondence, Online sales, and Direct Sales], and Geography [India]–Industry Analysis, Growth, Shares, Size, Trends, and Forecast 2021– 2028
The India AYUSH and Alternative Medicine Market are anticipated to expand at a significant CAGR during the forecast period 2021–2028. Growth of the market is attributed to rising healthcare expenditure, increasing demand for various ayurvedic products, and growing initiatives by the government.
Alternative medicine is another word for medical practices and products which is not part of standard care. Standard care means practices performed by doctors of osteopathy, medical doctors, and allied health professionals, such as physical therapists and nurses. Alternative medicine is used over standard medical care.
The Covid-19 pandemic affected the demand and supply of AYUSH and alternative medicine market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Market Trends, Drivers, Restraints, and Opportunities
- Increasing demand for AYUSH and alternative medicines is projected to boost the market.
- Rising awareness about the effectiveness and efficiency of traditional medicine is the major factor fueling the market.
- Lack of awareness about the medicines is projected to restrict the market expansion during the forecast period.
- High price of products is anticipated to hamper the market growth in the coming years.
- R&D investment and technological advancement in AYUSH and alternative medicine market is projected to offer lucrative opportunities for the market players.
Scope AYUSH and Alternative Medicine Market Report
The report on the AYUSH and alternative medicine market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
India AYUSH and Alternative Medicine Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018-2019 |
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Forecast Period |
2021-2028 |
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Segmentation |
Types [Herbal Medicine, Aroma Therapy, Ayurvedic Medicine, Homeopathy, Acupuncture, and Other], Distribution Channels [Special Centers, Distance Correspondence, Online sales, and Direct Sales] |
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Geographical Scope |
India |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players covered in the Report |
Sydler India Pvt. Ltd, Patanjali Ayurved Limited, Himalaya Wellness, GR Herbals, Dabur India, Baidyanath, Ganga Pharmaceuticals, Hamdard, Hootone Remedies, and SBL Mathur |
Market Segment Insights
The ayurvedic medicine segment accounts for a key share of the market
Based on types, the AYUSH and alternative medicine market is segregated into herbal medicine, aroma therapy, ayurvedic medicine, homeopathy, acupuncture, and others. The ayurvedic medicine segment accounts for a key share of the market. Growth of the market is attributed to increasing investment in research and development, increasing adoption of ayurvedic medicine around the globe, and natural benefits of the medicines.
However, the herbal medicine segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising medical tourism, growing awareness about the importance of healthy lifestyle, and increasing preference in favor of chemical-free natural products.
The direct sales segment accounts for a key share of the market
Based on distribution channels, the AYUSH and alternative medicine market is divided into special centers, distance correspondence, online sales, and direct sales. The direct sales segment accounts for a key share of the market. Growth of the market is attributed to increasing production of conventional skin care products and growing demand for natural and organic products. However, the online sales segment is anticipated to expand at a rapid pace during the forecast period due to factors such as rising cost of conventional healthcare, increasing side-effects of mainstream medicines, and rising healthcare expenditure.
Geographical outlook
The structure of alternative medicines in India contains homeopathy, Unani, yoga, naturopathy, siddha, and Ayurveda. Due to the plenty early scientific knowledge. India is considered as hub for alternative medicines such as homeopathy, Unani, Ayurveda, and Siddha. The market presently experiences a surge in demand for alternative medicines and AYUSH in India, owing to the increasing awareness about the efficacy and effectiveness of traditional systems of medicine, along with increasing initiatives by Indian government to support these infrastructure and rising research and development.
The Parliament of India approved two bills to improve access to affordable and quality medical knowledge by ensuring the availability of high-quality and adequate homeopathy, and other AYUSH medicines across the country.
Segments
The AYUSH and alternative medicine market has been segmented on the basis of
Types
- Herbal Medicine
- Aroma Therapy
- Ayurvedic Medicine
- Homeopathy
- Acupuncture
- Other Types
Distribution Channels
- Special Centers
- Distance Correspondence
- Online sales
- Direct Sales
Geography
- India
Key Players
- Sydler India Pvt. Ltd
- Patanjali Ayurved Limited
- Himalaya Wellness
- GR Herbals
- Dabur India
- Baidyanath
- Ganga Pharmaceuticals
- Hamdard
- Hootone Remedies
- SBL Mathur
Competitive Landscape
Key players competing in the AYUSH and alternative medicine market include Sydler India Pvt. Ltd, Patanjali Ayurved Limited, Himalaya Wellness, GR Herbals, Dabur India, Baidyanath, Ganga Pharmaceuticals, Hamdard, Hootone Remedies, and SBL Mathur
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and rise their production line of the business in the coming years.
1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. AYUSH and Alternative Medicine Market Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. AYUSH and Alternative Medicine Market Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. AYUSH and Alternative Medicine Market Market - Supply Chain
4.5. Global AYUSH and Alternative Medicine Market Market Forecast
4.5.1. AYUSH and Alternative Medicine Market Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. AYUSH and Alternative Medicine Market Market Size (000’ Units) and Y-o-Y Growth
4.5.3. AYUSH and Alternative Medicine Market Market Absolute $ Opportunity
5. Global AYUSH and Alternative Medicine Market Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
5.3.1. Herbal Medicine
5.3.2. Aroma Therapy
5.3.3. Ayurvedic Medicine
5.3.4. Homeopathy
5.3.5. Acupuncture
5.3.6. Other Types
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global AYUSH and Alternative Medicine Market Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
7. North America AYUSH and Alternative Medicine Market Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
7.4.1. Herbal Medicine
7.4.2. Aroma Therapy
7.4.3. Ayurvedic Medicine
7.4.4. Homeopathy
7.4.5. Acupuncture
7.4.6. Other Types
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
8. Latin America AYUSH and Alternative Medicine Market Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
8.4.1. Herbal Medicine
8.4.2. Aroma Therapy
8.4.3. Ayurvedic Medicine
8.4.4. Homeopathy
8.4.5. Acupuncture
8.4.6. Other Types
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
9. Europe AYUSH and Alternative Medicine Market Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
9.4.1. Herbal Medicine
9.4.2. Aroma Therapy
9.4.3. Ayurvedic Medicine
9.4.4. Homeopathy
9.4.5. Acupuncture
9.4.6. Other Types
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
10. Asia Pacific AYUSH and Alternative Medicine Market Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
10.4.1. Herbal Medicine
10.4.2. Aroma Therapy
10.4.3. Ayurvedic Medicine
10.4.4. Homeopathy
10.4.5. Acupuncture
10.4.6. Other Types
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
11. Middle East & Africa AYUSH and Alternative Medicine Market Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
11.4.1. Herbal Medicine
11.4.2. Aroma Therapy
11.4.3. Ayurvedic Medicine
11.4.4. Homeopathy
11.4.5. Acupuncture
11.4.6. Other Types
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global AYUSH and Alternative Medicine Market Market: Market Share Analysis
12.2. AYUSH and Alternative Medicine Market Distributors and Customers
12.3. AYUSH and Alternative Medicine Market Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Sydler India Pvt. Ltd
12.4.2. Patanjali Ayurved Limited
12.4.3. Himalaya Wellness
12.4.4. GR Herbals
12.4.5. Dabur India
12.4.6. Baidyanath
12.4.7. Ganga Pharmaceuticals
12.4.8. Hamdard
2. Assumptions and Acronyms Used
3. Research Methodology
4. AYUSH and Alternative Medicine Market Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. AYUSH and Alternative Medicine Market Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. AYUSH and Alternative Medicine Market Market - Supply Chain
4.5. Global AYUSH and Alternative Medicine Market Market Forecast
4.5.1. AYUSH and Alternative Medicine Market Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. AYUSH and Alternative Medicine Market Market Size (000’ Units) and Y-o-Y Growth
4.5.3. AYUSH and Alternative Medicine Market Market Absolute $ Opportunity
5. Global AYUSH and Alternative Medicine Market Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
5.3.1. Herbal Medicine
5.3.2. Aroma Therapy
5.3.3. Ayurvedic Medicine
5.3.4. Homeopathy
5.3.5. Acupuncture
5.3.6. Other Types
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global AYUSH and Alternative Medicine Market Market Analysis and Forecast by Region
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Region
6.2.2. Y-o-Y Growth Projections by Region
6.3. AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Region
6.3.1. North America
6.3.2. Latin America
6.3.3. Europe
6.3.4. Asia Pacific
6.3.5. Middle East and Africa (MEA)
6.4. Absolute $ Opportunity Assessment by Region
6.5. Market Attractiveness/Growth Potential Analysis by Region
6.6. Global AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
7. North America AYUSH and Alternative Medicine Market Market Analysis and Forecast
7.1. Introduction
7.1.1. Basis Point Share (BPS) Analysis by Country
7.1.2. Y-o-Y Growth Projections by Country
7.2. North America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
7.2.1. U.S.
7.2.2. Canada
7.3. Absolute $ Opportunity Assessment by Country
7.4. North America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
7.4.1. Herbal Medicine
7.4.2. Aroma Therapy
7.4.3. Ayurvedic Medicine
7.4.4. Homeopathy
7.4.5. Acupuncture
7.4.6. Other Types
7.5. Basis Point Share (BPS) Analysis by Types
7.6. Y-o-Y Growth Projections by Types
7.7. Market Attractiveness/Growth Potential Analysis
7.7.1. By Country
7.7.2. By Product Type
7.7.3. By Application
7.8. North America AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
8. Latin America AYUSH and Alternative Medicine Market Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.1.3. Latin America Average Pricing Analysis
8.2. Latin America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
8.2.1. Brazil
8.2.2. Mexico
8.2.3. Rest of Latin America
8.3. Absolute $ Opportunity Assessment by Country
8.4. Latin America AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
8.4.1. Herbal Medicine
8.4.2. Aroma Therapy
8.4.3. Ayurvedic Medicine
8.4.4. Homeopathy
8.4.5. Acupuncture
8.4.6. Other Types
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. Market Attractiveness/Growth Potential Analysis
8.7.1. By Country
8.7.2. By Product Type
8.7.3. By Application
8.8. Latin America AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
9. Europe AYUSH and Alternative Medicine Market Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Europe Average Pricing Analysis
9.2. Europe AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
9.2.1. Germany
9.2.2. France
9.2.3. Italy
9.2.4. U.K.
9.2.5. Spain
9.2.6. Russia
9.2.7. Rest of Europe
9.3. Absolute $ Opportunity Assessment by Country
9.4. Europe AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
9.4.1. Herbal Medicine
9.4.2. Aroma Therapy
9.4.3. Ayurvedic Medicine
9.4.4. Homeopathy
9.4.5. Acupuncture
9.4.6. Other Types
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Market Attractiveness/Growth Potential Analysis
9.7.1. By Country
9.7.2. By Product Type
9.7.3. By Application
9.8. Europe AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
10. Asia Pacific AYUSH and Alternative Medicine Market Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Asia Pacific Average Pricing Analysis
10.2. Asia Pacific AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
10.2.1. China
10.2.2. Japan
10.2.3. South Korea
10.2.4. India
10.2.5. Australia
10.2.6. Rest of Asia Pacific (APAC)
10.3. Absolute $ Opportunity Assessment by Country
10.4. Asia Pacific AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
10.4.1. Herbal Medicine
10.4.2. Aroma Therapy
10.4.3. Ayurvedic Medicine
10.4.4. Homeopathy
10.4.5. Acupuncture
10.4.6. Other Types
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Market Attractiveness/Growth Potential Analysis
10.7.1. By Country
10.7.2. By Product Type
10.7.3. By Application
10.8. Asia Pacific AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
11. Middle East & Africa AYUSH and Alternative Medicine Market Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Middle East & Africa Average Pricing Analysis
11.2. Middle East & Africa AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Country
11.2.1. Saudi Arabia
11.2.2. South Africa
11.2.3. UAE
11.2.4. Rest of Middle East & Africa (MEA)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Middle East & Africa AYUSH and Alternative Medicine Market Market Size and Volume Forecast by Types
11.4.1. Herbal Medicine
11.4.2. Aroma Therapy
11.4.3. Ayurvedic Medicine
11.4.4. Homeopathy
11.4.5. Acupuncture
11.4.6. Other Types
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Market Attractiveness/Growth Potential Analysis
11.7.1. By Country
11.7.2. By Product Type
11.7.3. By Application
11.8. Middle East & Africa AYUSH and Alternative Medicine Market Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global AYUSH and Alternative Medicine Market Market: Market Share Analysis
12.2. AYUSH and Alternative Medicine Market Distributors and Customers
12.3. AYUSH and Alternative Medicine Market Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Sydler India Pvt. Ltd
12.4.2. Patanjali Ayurved Limited
12.4.3. Himalaya Wellness
12.4.4. GR Herbals
12.4.5. Dabur India
12.4.6. Baidyanath
12.4.7. Ganga Pharmaceuticals
12.4.8. Hamdard
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