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The use of alternative medicines has been rapidly growing worldwide, more so in the developed world, with people opting for traditional systems of medicine and associated therapies. Global ayurvedic market is expected to grow at a CAGR of 17% in the next decade. According to a report from Mordor Intelligence, the AYUSH market (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy) is worth USD 10 billion and is expected to reach a value of USD 15 billion within next 3 years. Certainly, there is a gradual switch towards the traditional system of medicine and Ayurveda is leading the way. There is increased demand for safer natural products due to rising consumer awareness. Antibiotic resistance, adverse drug reactions and complicated side effects have added to the need for patients to restrict the use of conventional allopathic medicines. Medical tourism has also fueled the demand significantly. Some of the key players in India include Dabur India Ltd., The Himalaya Drug Company, Patanjali Ayurved Limited, Hamdard Laboratories, Charak Pharma Pvt. Ltd., BACFO Pharmaceuticals Ltd. etc.

 
From time in memorial, traditional system of medicine and therapies such as osteopathy, rekhi, massages etc. have been used effectively in developing countries. Alternative medicine has always had a holistic approach to treatment, believing that health flows from a harmonious balance of physical, psychological and spiritual state. Life in the 21st century is fast paced and stressful and the incidence of life style related diseases such as hypertension, diabetes, chronic pain are ever increasing. The balanced approach of alternative medicine finds favor with today's patients.

 
Development of science and technology has also helped a great deal in the development of alternative medicine. Government of India is encouraging & promoting usage of Ayurvedic products through various national awareness programs. According to Vaidya Rajesh Kotecha, Secretary, Ministry of AYUSH, “All over the world, a parallel movement is going on for traditional medicine. India should lead. Not just to earn money, but also because it is our responsibility toward the world,”. Recently, CDSCO (AYUSH division) in order to expedite the process of issuance of WHO-GMP/CoPP certificate, released an order whereby AYUSH Ministry will now evaluate the safety and efficacy while CDSCO will evaluate tenets of GMP in product manufacturing. All this has led the development of nutraceuticals and cosmeceuticals, multimillion dollar industries today. In this issue, with a special focus on alternative medicine, we take a look at some developments.

 
But what is holding India back? What are the main barriers that is limiting the overall market size? Lack of research programmes at premier universities and colleges, dearth of qualified traditional Ayurveda practitioners, lack of regulations are certainly affecting the global sales. There is urgent need for understanding of regulatory requirements of different countries. Stringent Quality Control, standardization procedures needs to be in place.

 
As India celebrates its 72nd Independence Day on 15th August 2018, the Modi Govt will roll out Ayushman Bharat - National Health Protection Scheme. Aiming to cover 10 crore families (50 crore individuals) with annual insurance cover of 5 lacs with premiums as low as Rs 2000/- per family. It is set to cost the Govt Rs 20000 core in the first year and upto Rs 50000 crore in the coming years and will be dependent on centre / state partnership. If implemented in totality, it will be the largest health insurance scheme in the world.

 
The first edition of Propak India expo will be held from 30 Aug to 1 Sep 2018 at Greater Noida, National Capital Region. 'Propak' an established brand of the packaging industry comes home with the exhibition giants UBM. As media partners, the entire Pharma Review team wishes the event all success..

 
 
 
 

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