Global Ayurveda market expected to triple in size to USD 9.7 billion by 2022

The Governor said Ayurveda has grown to become renowned all over the world by responding positively to health problems.

Published: 24th November 2018 09:44 AM  |   Last Updated: 24th November 2018 09:44 AM   |  A+A-

Governor P Sathasivam delivering the valedictory address of Global Ayurveda Summit organised by CII. John Kuruvila, Head, CII Kerala, Dr S Sajikumar, chairman, CII Kerala State Council, Dr D C Katoch, Advisor – Ayush, Govt of India and Dr E T Neelakandhan Mooss, director, Vaidyaratnam Oushadhasala Pvt. Ltd. are also seen

By Express News Service

KOCHI: Governor Justice P Sathasivam expressed hope of Ayurveda becoming a `50,000-crore industry by 2025. He was speaking at the valedictory session of the Global Ayurveda Summit 2018 organised by the Confederation of Indian Industry (CII).

The Governor said Ayurveda has grown to become renowned all over the world by responding positively to health problems. “The National Health Policy, 2017, has given priority to mainstreaming indigenous medicine systems. Indian medicine systems, such as Ayurveda, too are getting a policy boost,” the Governor added. He called upon the industry to take advantage of the growth in demand by standardising ayurvedic medicine, establishing quality control mechanisms and leveraging digital systems.

The Governor complimented Kerala for taking a lead role in modernising Ayurveda, with R&D and quality control wings in hospitals. “The Kerala model in wellness tourism that blends traditional medicine, natural beauty and cultural affinity should be replicated in other states,” said Sathasivam.

The CII-PwC report, released at the summit, stated an increased emphasis on lifestyle and wellness, driven by a rise in non-communicable and chronic diseases, is driving the demand for Ayurveda in India. The report noted 77 per cent of Indian households used ayurvedic products in 2017, up from 69 per cent in 2015. The global market for Ayurveda is also growing. The size of the global ayurvedic market is expected to almost triple from $3.4 billion in 2015 to $9.7 billion in 2022.

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