Ayurvedic Manufacturing and Franchise Business Market Growth Explained by PharmaHopers
25-Mar-23 05:21:14

PharmaHopers aims to simplify the whole facade of sourcing pharmaceutical products and services by providing a comprehensive digital platform

Ayurveda – a trend turned into a way of living is ruling the healthcare system. Indian traditional medicine has surpassed domestic boundaries and is dominating the healthcare market at promising growth rates. This presents a golden opportunity for India as it caters to a whopping 80% of demand in the market. The Indian Ayurvedic Industry is currently dominated by a few large players, with micro, small, and medium enterprises. As per industry experts, the global ayurvedic market is expected to grow at a CAGR of 12% from 2022 through 2028. The reason for this exponential growth can be attributed to the wide range of products such as dietary supplements, Nutraceuticals, hair care, fragrances, skincare, oral care, and make-up products.

The factors driving the growth of the ayurvedic industry in India include rising demand for authentic ayurvedic medicine range, increased consumer awareness, and growing focus on health and wellness. Unlike prescription medicines, ayurvedic products do not cause any serious side effects and are potent in treating even chronic illnesses. PharmaHopers, a leading B2B online market place for pharmaceutical and Ayurvedic Medicine Manufacturers states that the Ayurveda has become a global phenomenon due to colossal demand in the global market. India has been bestowed with a great opportunity to leverage the Ayurvedic pharmaceutical industry for economic growth with a clear motive and substantial demand in the domestic as well as foreign markets. Rising disposable income levels and changing lifestyle habits in developing economies like India will drive the future growth potential of the Ayurvedic manufacturing industry over the next few years.

SOURCE & CREDIT: HINDUSTAN TIMES