Compendium of Medicinal Plants
Medicinal plants are not only a major resource base for the traditional medicine & herbal industry but also provide livelihood and health security to a large segment of Indian population. Medicinal plants are resources of new drugs. Medicinal plants are important for human health. These plants have been used from the prehistoric times to present day. These plants based medicines are consumed in all civilizations. It is believed that the herbal medicine can give good effect to body without causing side effects to human’s life. Besides, the usage of medical plants has been increasing as an important role that can support the economic system. The medical plants for health are used as herbal treatments and therapies that can be new habits for culture. Medicinal plants constitute a large segment of the flora, which provide raw materials for use by various industries. They have been used in the country for a long time for their medicinal properties. These plants are staging a comeback and herbal renaissance is happening all over the globe. The herbal medicines today symbolise safety in contrast to the synthetics that are regarded as unsafe to human and environment. Although herbs had been priced for their medicinal, flavouring and aromatic qualities for centuries, the synthetic products of the modern age surpassed their importance, for a while. However, the blind dependence on synthetics is over and people are returning to the naturals with hope of safety and security. The decision to cultivate medicinal herbs should only be made in response to demand for particular herbs. The market is very competitive and could easily be oversupplied.
Market Outlook
India is also developing strategies to capture the $14 billion global market for medicinal herbs (plant raw materials) and $60 billion market for herbal medicines and food supplements. The demand for medicinal plant-based raw materials is growing at the rate of 15 to 25 per cent annually.
India Ayurvedic products market is projected to register a CAGR of 16% during 2016-2021.
The Global Ayurvedic Market is accounted for $3,428.0 million in 2015 and is expected to reach $9,791.0 million by 2022 growing at a CAGR of 16.2% from 2015 to 2022.
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