Indian Ayurveda propels growth with strong industry norms & high herb quality claims: Dr. Rangesh Paramesh
Indian Ayurveda propels its growth supported by the industry guidelines of Good Agricultural and Collection Practice (GACP), Good Clinical Practice (GCP), Good Manufacturing Practice (GMP) and Good Laboratory Practice (GLP), said Dr. Rangesh Paramesh, director – Intellectual Property, Himalaya Wellness Company.
Delving on the topic ‘Key Drivers Determining the Future of the Ayurvedic Drug and Wellness Industry’ on the occasion of the World Ayurveda Day observed as the Dhanvantari Jayanti on October 23, with the theme this year as ‘Har Din Har Ghar Ayurveda, Dr Paramesh noted herbs constitute an integral part of this traditional medicine. Since ancient times, herbs have been used to promote well-being, treat different diseases, foster mental clarity, boost immunity, and ensure healthy skin and hair.
The four key drivers that give a boost to the Ayurveda Drug and Wellness industry, are the guidelines which are well accepted. For instance, GACP is an efficient way of cultivating, collecting, and primary processing of medicinal plants.
The relevance of claims of the herbs depends on the best practices used in clinical trials, that ensure evidence for safety and efficacy. This is where GCP which is an international ethical and scientific quality standard helps to design, conduct, monitor and audit the clinical trials which protects the confidentiality of the human study participants.
GMP helps ensure the pharmaceutical versatility of an herb for the products to be manufactured consistently adhering to quality standards. GLP ensures the quality of the raw materials and integrity of test data, he said .
A well-defined and actionable framework put forth by the Union government has accelerated the bright prospects for Ayurveda Drug and Wellness industry, noted Dr Paramesh
Quoting a recent market research report, he said that the Ayurveda herbs market valued at $9.5 billion in 2020 is well positioned to touch $21.6 billion by 2028, at a CAGR of 10.8% during the forecast period.
Rising health concerns and the awareness of western medicines’ side effects further drive customers to opt for Ayurveda products backed by science. It is also important to note that the distribution network of these science-based products has improved considerably enhancing the accessibility of these products across rural and urban regions, said Dr Paramesh.
However there are challenges for the industry in India. There is an impending need for better infrastructure to support research and development for high-yielding varieties of botanicals. There is a need for proper supply management of herbal raw materials. Besides there is also a requirement of a holistic and standardized procedure to manufacture quality Ayurveda products along with evidence-based safety regulations, said Dr Paramesh.
No doubt, there are promising growth prospects with increased global awareness and knowledge about natural ingredients for health and personal care products. A visible shift is observed to prioritize health and wellness following the Covid pandemic has gained for traction. People are keen to go back to the roots and opt for traditional remedies to boost immunity, said Dr Paramesh.
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