India Traditional Medicine Market to Grow with a CAGR of 9.21% through 2030
Rising
investments & entry of corporates is expected to drive the India
Traditional Medicine Market growth in the forecast period, 2026-2030.
According to
TechSci Research report, “India Traditional Medicine Market - By Region, Competition, Forecast & Opportunities, 2030F”, the India Traditional
Medicine Market stood at USD 416.28 Million in 2024 and is anticipated to grow
with a CAGR of 9.21% through 2030. The traditional medicine market in India is
witnessing a surge in investments and corporate participation, transforming the
sector into a high-growth industry. With increasing global demand for Ayurveda,
herbal medicine, and alternative therapies, both domestic and international
corporations are actively expanding their presence, ensuring large-scale
commercialization and innovation in the field.
Leading Indian
conglomerates like Patanjali Ayurved, Dabur, Himalaya, and Baidyanath have
significantly ramped up production, research, and exports of Ayurvedic and
herbal products. The market has also seen new entrants from pharmaceutical and
FMCG giants such as ITC, Hindustan Unilever (HUL), and Emami, investing heavily
in herbal-based wellness products, nutraceuticals, and Ayurvedic formulations.
These companies are not only leveraging strong distribution networks but also
incorporating scientific research and modern packaging to appeal to urban and
global consumers.
The influx of
foreign investments is another key factor accelerating growth. Companies from
the U.S., Europe, and the Middle East are collaborating with Indian firms to
establish joint ventures, research centers, and export partnerships. The Indian
government's push for AYUSH exports and initiatives like the WHO Global Centre
for Traditional Medicine (GCTM) in Gujarat, backed by US$ 85 million, further
validate the sector’s growing importance.
Startups and
digital health platforms are also reshaping the market. The rise of Ayurvedic
telemedicine, AI-based herbal diagnostics, and direct-to-consumer (D2C) brands
is attracting venture capital and private equity funding, leading to faster
adoption and accessibility of traditional medicine. With corporates focusing on
product standardization, clinical validation, and global expansion, India’s
traditional medicine market is rapidly modernizing, ensuring wider acceptance,
increased investments, and sustained long-term growth.
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India
Traditional Medicine Market is segmented into product, form, disease indication,
distribution channel, regional distribution, and company.
Based
on Product, Ayurvedic Medicine have emerged as the fastest growing segment in
the India Traditional Medicine Market in the forecast period driven by rising consumer preference for
natural remedies, government-backed AYUSH initiatives, and increasing
investments from corporate players. With 80% of India’s population using
Ayurveda, the demand for herbal formulations, wellness products, and personalized
Ayurvedic treatments has surged. Medical
tourism has played a crucial role, as India attracts around 2 million
international patients annually, many of whom seek Ayurvedic therapies. The
growing adoption of digital platforms, AI-driven Ayurvedic diagnostics, and
expansion of Ayurvedic wellness retreats has further fueled market growth.
Moreover, the sector benefits from strong R&D efforts, scientific
validation, and global collaborations, positioning Ayurveda as a key driver of
India’s traditional medicine market expansion.
Based on Region,
North India have emerged as the fastest growing region in the India Traditional
Medicine Market in 2024 driven by rising
consumer awareness, expanding Ayurvedic healthcare infrastructure, and
increasing investments in herbal medicine. States like Uttarakhand, Uttar
Pradesh, and Delhi have witnessed significant growth due to strong government
support, the presence of renowned Ayurvedic institutions, and a surge in
medical tourism. The region has also benefited from the expansion of AYUSH
hospitals and wellness centers, along with higher demand for herbal
supplements, immunity boosters, and Ayurvedic treatments. Additionally,
corporate investments and research collaborations are fueling innovation,
making North India a key driver of market expansion in the traditional medicine
sector.
Major companies
operating in India Traditional Medicine Market are:
- Arogya
Ayurveda Kendra
- Patanjali
Ayurved Limited
- Himalaya
Global Holdings Ltd.
- Baidyanath
Group
- Dabur
Ltd
- Swastik
Ayurveda
- Navayur
Herbals
- The
Divine Ayurveda
- Arlak
Ayurveda Pvt Ltd
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“India's traditional medicine sector has
seen unprecedented growth due to proactive measures taken by policymakers to
promote Ayurveda, Unani, Siddha, and Homeopathy (AYUSH) on both domestic and
international levels. The establishment of the Ministry of AYUSH and subsequent
programs have provided a structured framework for research, standardization,
and global outreach of traditional medicine”, said Mr.
Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India
Traditional Medicine Market By Product (Herbal Medicine, Ayurvedic Medicine,
Unani Medicine, Alternative Medicine, Homeopathy Medicine, Others), By Form
(Capsules and Tablets, Powders and Granules, Liquid Extracts, Syrups, Creams
and Ointment, Others), By Disease Indication (Cardiac Disorders, Bone and Joint
Disorders, Gynecological Disorders, Neurological and Mental Disorders,
Digestive Disorders, Others), By Distribution Channel (Hospital and Retail
Pharmacies, Online Pharmacies), By Region and Competition, Forecast &
Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Traditional Medicine Market
and provides statistics & information on market size, structure, and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers,
challenges, and opportunities in India Traditional Medicine Market.
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