INTRODUCTION
Medical Science has seen incredible shift over the past century. With the advancement of technology and modernization medical science has boosted its domain and all over the globe, life expectancy rate has increased, mortality rate has declined
The modern consumer has inclined its interest towards Ayurveda which has led to the revival of Ayurvedic Industry. But at the same time its impact on Pharmaceutical industry is inevitable. Gone are the days when Allopathy was the one stop solution to every problem, every disease. With growth of usage of allopathy medicines consumers got aware about the side effects and long-term complication of its usage which had led to renaissance in Ayurveda.
From Fall to the New Beginnings
From the 80’s Ayurveda stopped gaining its consumer base. The main reasons for the drop of consumers is that Ayurveda products were not eye catching and brainstorming. Fancy packaging of allopathy products and attractive advertisements drove the consumer interest and made allopathy usage a habit among everyone. Gradually western medicine captured the mainstream position putting aside the fundamental traditions ie. Ayurveda. From 80’s to 2000’s, Allopathy and other cultures dominated the global market but with the rise of awareness Ayurvedic system made a dramatic comeback. Ayurvedic business is buzzing back to the globe once again and flourishing its market but it is right to believe that with the advancement of technology and capitalization, e- commerce and the retail industry is taking over Ayurveda as a new means of business establishment.
This Ayurveda retail buzz is flourishing in the market and the Indian retail market is expected to cross 1.3 trillion USD by 2020. With the rise in Ayurveda business it is witnessed that lack of proper rules and regulations have eased the market in flourishing. However, there are certain broad regulations which are adhered by the medical business
Provisions of D&C Act 1940 is applicable to ASU drugs, Medical Remedies Act is also a measure which prohibits the certain kind of advertisements relating to medicines. Advertisements which alleges to possess magic qualities in medicines are banned.
There are certain problems which are associated with unregulated ayurvedic products in India. There is presence of some metals in ayurvedic products which make the usage of these products potentially harmful. Some of the ayurvedic products also does not undergo FDA review. another major challenge associated with Ayurveda is that its treatments is ineffective in emergency cases and the emergencies which include surgeries and acute infections cannot be treated with Ayurveda, therefore sometimes it is impossible to rely on ayurvedic therapies. Lack of homogeneity and recognition is also another major problem associated with Ayurveda.
Ayurveda and natural products continue to contribute to bridging the unmet therapeutic needs of mainstream medicine. Ayurveda can become a reservoir for developing Ayurveda inspired molecular medicines. Efforts of several decades of research and education in Ayurveda as well as integrative medicine approaches have certainly contributed a lot to its current emerging status. However, community patronage of Ayurveda is gradually increasing the world over. What is now desirable is to digress from the ‘‘utilitarian ethos’’ to a ‘‘unifying ethos.’’ Merely developing pharma products from Ayurveda is not enough. It is essential to move on from products to underlying therapeutic principles, and from them to reach out to Ayurveda’s fundamental philosophical axioms. Integrative Ayurveda in place of Integrative Medicine will facilitate such a movement more effectively. The health promotive, disease-preventive emphasis of Ayurveda and its body− mind−spirit inclusive holistic approach is essential to address future needs of achieving healthier, happier, and harmonious global community.
Governmental support
Ruling government of the India has also supported the rise of Ayurveda and has understood its importance just as science. Formation of ministry of Ayush has also established the government support. In Kerala government has launched an immunity kit with ayurvedic medicine to resist and control the ongoing pandemic, Covid19. Many ayurvedic medicines are also manufactured and endorsed by Patanjali. With the passage of time people have understood the side effects of allopathy and sustainability through other medicines and have realized that Ayurveda is not only effective in long run but also does not have any side effects.
FUTURE OF AYURVEDA AND ITS IMPACT ON CURRENT INDUSRTY
The future of Ayurveda has lucrative opportunities and with the rise of knowledge and awareness it has overtaken the pharmaceutical industry. In India, states like Kerala and Tamil Nadu are quite instrumental in getting benefits from medical tourism. These states have many advantages such as adequate infrastructure, specialized workforce, futuristic R&D, beautiful landscapes, and a relatively better environment or less contaminated environment. In addition, governments of these states are also incredibly supportive in drafting industry-friendly policies. Few of the drawbacks are that Ayurveda focuses more on preventive measures rather than fiving cure approaches. The quality of ayurvedic medicines depends upon the organic cultivation which requires large farms and artificial fertilizers. Though India is originator of Ayurveda there are not enough ayurvedic institutions and colleges to inculcate in individuals to learn it and make a progressive career out of it. professionals. Hence, both Government and private players should come forward to exploit future opportunities through PPP model as Ayurveda has a great potential to push Indian economy to newer heights.
