The phrase, 'a diamond in the rough' is an old Renaissance idiom that refers to something (or someone) with great potential but unimpressive at first glance. However, with the right refinement and exposure, it reveals its brilliance and mesmerizes others with its sparkling glory.
The ancient Indian treatments grouped today under the nomenclature of AYUSH (Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy) present a similar tale of 'a diamond in the rough.' After staying low-profile for several decades after India's independence, the sector is exhibiting strong potential for recognition and growth.
According to a research report on the Ayush sector by the Forum on Indian Traditional Medicine (FITM) under Research and Information System for Developing Countries (RIS), the size of the Ayush market stood at $18.1 billion (Rs 1,49,451 crore) in 2020, growing from $2.85 billion (Rs 23,532 crore in 2014-15.
According to a report by the Research and Information. System for Developing Countries (RIS), 'Ayush Sector in India: Prospects & Challenges, the global market size of the herbal sector was about $657.5 billion (Rs 54,28,977 crore) in 2020. The total Ayush export of India has increased from $1.09 billion (Rs 9,000 crore) in 2014 to $1.54 billion (Rs 12,715 crore) in 2020. Another agency, Mordor Intelligence, estimates that the AYUSH industry in India is expected to reach Rs 1,82,400 crore by 2028, growing at an 8.6 percent CAGR from Rs 62,600 crore in 2022.
Role of the government
The AYUSH sector in India has undergone significant transformation in recent years, thanks to a series of well-thought-out policy-level decisions. These decisions have propelled the AYUSH sector into the limelight and fostered its growth within the broader healthcare landscape. Industry experts share their insights into these pivotal policy changes.
هذه القصة مأخوذة من طبعة September 2023 من Healthcare Radius.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة September 2023 من Healthcare Radius.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
KIMSHEALTH launches electrophysiology lab with 3D mapping
'ENSITE X' is the first of its kind in Kerala and the third in India enabling precise identification, mapping, and targeting the abnormal electrical activities in the heart.
Molbio boosts Goa's healthcare system with CSR initiatives
The company has donated four state-of-the-art Advanced Life Support (ALS) ambulances and two hearse vans for National Highway emergencies
USV introduces affordable heart failure medication
This cost-effective option addresses the rising cases of heart failure in India, offering lifesaving care to millions of patients who need it the most.
City Imaging & Clinical Labs to expand services to 50 hospitals
The company is currently associated with 10 hospitals, providing comprehensive lab management services, including 24/7 in-house phlebotomy and lab testing.
Oncare raises $1 million in seed funding, to set up 10 units
Oncare has raised $1 million in a seed funding round led by Huddle Ventures. It plans to deploy the raised capital to expand its operations to 10 new centers.
Nutrabay forays into Ayurvedic supplements market with Shilajit
Nutrabay's aims at gaining market share from the existing ayurveda supplements market with a distinctive product proposition and education about the benefits of Shilajit.
INDIA'S PREPAREDNESS ON HEALTHCARE-ASSOCIATED INFECTIONS: A GROWING FOCUS ON PATIENT SAFETY
The country's diverse healthcare landscape necessitates a flexible and multifaceted approach to infection control that can be adapted to various settings and resource levels.
TRANSFORMING CARDIAC SURGERY: HOW AI IS REVOLUTIONIZING PATIENT CARE AND OUTCOMES
Dr. Swarup Swaraj Pal shared his insights on the current state and future prospects of AI in cardiac procedures.
BEYOND THE LAB: THE CRITICAL ROLE OF LOGISTICS IN INDIA'S PHARMACEUTICAL INDUSTRY
As India continues to expand its role in the global pharmaceutical market, the importance of a robust, reliable, and innovative logistics infrastructure cannot be overstated.
LIFESTYLE DISEASES IN CHILDREN: A WAKE-UP CALL FOR A HEALTHIER GENERATION
In today's fast-paced world, children face an unexpected enemy: lifestyle diseases. Conditions like obesity, Type 2 diabetes, and hypertension are now affecting our youth. What's causing this shift, and how can we combat it?
