Overview

Strengths

Gone of the days when herbal healthcare system was viewed as an “Alternative”. Now it is changed scenario, it is not only integrated into the mainstream healthcare system, but it is also attracting the attention of the big company’s.

Concept

India has been using its rich biodiversity for healthcare for at least four thousands years through its traditional system of medicine – Ayurveda, but requires an appropriate efforts as below to build the market

1. Test the concepts as well as the products through modern biology and chemistry.

2. Characterize the products at molecular levels.

3. Develop newer products which are far simpler, more benign and effective than the ones hitherto employed.

Market

Global

Herbal healthcare industry is estimated to be around $ 47bl. While India is contributing is only $1bl.

Domestic

As per recent ORG survey the same estimated market about Rs.2500 to Rs.3000 Cores with the growth rate of around @ 25% every year including OTC+Herbal.

Around 16% contribution in total Pharma Market.

1,400 Crs. Herbal OTC

1,000 Crs. Ethical Herbal Market.

Approximately 8,000 Herbal Manufacture.

Market

The herbal healthcare sector is witnessing a renaissance. It has come up as an alternative to monopolistic conventional synthetic products.

The revival has ensured longevity of Herbal Companies and hence their has been a flurry of companies entering the market.

Globally too, this market has been growing rapidly, hence big opportunity available for Indian Companies.

Who are venturing out to exploit the opportunities offered by the Green Field including the big names like Ranbaxy, Cadila, Wockhardt, Lupin with the interest shown by both big FMCG and Pharma companies and now consider one of the high growth Industry.

Spark of Future Prospects

Products of traditional system of medicines are unlikely to compete successfully until they have an edge over their competitors. The only weapon of `knowledge'' if appropriately used can help in succeeding against `competition''. Thus in future India shall have to develop knowledge-based products, by way

1. To develop special preparations either as single molecules or of multiple molecules.

2. To make existing preparation, trimmer and molecular defined.

3. To investigate synergism amongst various fractions of extracts.

4. To develop specific preparation which accelerate recovery after suffering from debilitating disease.

5. To develop specific detoxifiers.

Available Opportunities

ORG claiming @25% growth in Phytomedicine Market, the data collected only big companies under their operations baring with the local players taking in huge share from the market considering the same the growth should be not less then @40% to @50% in spite of poor infrastructures available with the local players.

Ever Increasing health cost and side effects associated with Allopathic Drugs, customers are now shifting towards Herbal Medication.

Future of the Herbal Pharma Market in serving the personal and healthcare consumers across the world look bright & promising.

As appears the many more opportunities available to explore the Phytomedicine market and the same could be possible through increasing the prescriptions base through modern medicine practitioners, herbal medicine practitioners and prime focus on the general practitioners, which requires experienced, trained and skilled field force, which may have an ability to identify the customers and focus with them.

Phytomedicine market may turn around the over all pharma industry picture in future which is stagnant with the growth @16% to 18% from years together, which came from new molecules, price revisions.

Phytomedicine market should be plays a vital role in the Phytomedicine market should be plays a vital role in the growth of Pharma Industry.growth of Pharma Industry.

As per the growth rate mentioned by ORG herbal As per the growth rate mentioned by ORG herbal products particularly Hepatic-protective, menstrual products particularly Hepatic-protective, menstrual modulators, Anti-oxidants, Immune-modulators, modulators, Anti-oxidants, Immune-modulators, Anti-arthritis, Aphrodisiac, Haemostatic, Bowl Anti-arthritis, Aphrodisiac, Haemostatic, Bowl regulators & Bronchodilators, in short the products regulators & Bronchodilators, in short the products are being used in the chronic conditions, where are being used in the chronic conditions, where prolong treatment is needed considered to be prolong treatment is needed considered to be effective, safe, dose convenient and cost effective effective, safe, dose convenient and cost effective rather economical treatment over to the modern rather economical treatment over to the modern medicines.medicines.

Major Players

Himalaya Drugs, Charak Pharma, Dabur, Aimil Drugs are being considered as a big players fallowed by, Solumics, Ban Labs, Vasu Pharma, Dhanvantri, Maheshwari and many others

As per the available data Uttar Pradesh, As per the available data Uttar Pradesh, Punjab, Rajasthan, Madhya Pradesh, Punjab, Rajasthan, Madhya Pradesh, Chattisgarh, Gujrat, Mahrastra, Kerla, Chattisgarh, Gujrat, Mahrastra, Kerla, Andhra, Karnatka and Tamilnadu are being Andhra, Karnatka and Tamilnadu are being considered to be the major contributors.considered to be the major contributors.

Government Support

Phytomedicine is gaining the status of modern therapeutics due to the continuous pouring of knowledge as a result of increasingly intensive research output. It is gratifying to note that the Department of Health & Family Welfare is now taking the initiative by involving the industry, R & D experts and the bureaucracy to work towards standardization, validation and for bringing about cohesiveness between different systems of traditional medicine to protect the national interest and image.

Weaknesses

Major weaknesses are being considered as unawareness about the constituents to the modern medicine consultants, hence reluctant to accept the products at as early stages without reference. It has been observed due to unethical competition every body extracting the companies through price war, which seems to be not healthy sign of the Phytomedicine market and always considered as an alternate or adjunct therapy, the view point may only improve while creating awareness among the customers with benefits and advantages.

Phytomedicine products selling is a very specialize selling due to customers selection and promotion of the products.

Threats

With the changing scenario Phytomedicine market becoming a prime focus with the big Indian companies along with the MNC’s.

The herbal formulations which are sold as over the counter (OTC) have a different protocol regarding preparation, acquiring license and marketing. The active principles of herbal preparations are not often well defined. Regulations regarding safety and efficacy are not known to scientists or consumers.

The herbal medicines are poorly regulated. Assurance of safety, quality and efficacy of medicinal plants and herbal products is a key issue which needs to be addressed.