According to the Market Statsville Group (MSG), the global ayurveda hospitals market is estimated to grow at a CAGR of 14.2% from 2022 to 2030. Ayurveda focuses on the science of life and uses those principles to cure the ailment and improve the quality of life of people or patients. The growing demand for the ayurvedic treatment as it is more reliable and has zero side effects. Such factors resulted in the increasing construction of ayurveda hospitals globally. Ayurveda not only cures the ailment but also contributes to a healthy and positive mind, which increases an individual’s productivity.
Further, the growing government initiatives for the development of Ayurveda centers, surging naturopathy medical tourism, and rising awareness regarding the benefits of the Ayurveda medicines are factors accelerating the market's growth in forthcoming years. In addition, in June 2021, Bolo Indya, an India-based social live streaming platform, collaborated with the Ministry of AYUSH in order to improve awareness regarding traditional Indian methods of medicines and care such as ayurveda, yoga, siddha, unani and others, to boost healthy living among people. This partnership will cover 10 million citizens in the next 12 months. Such factors will drive the market’s growth.
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COVID-19 Impact on the Global Ayurveda Hospitals Market
COVID-19 had a positive impact on the growth of the Ayurveda hospitals, as it offered immunity booster treatments and medicines for people. To enhance people's immunity against the COVID-19, which resulted in its positive growth during the pandemic. For instance, the Rajkiya Ayurvedic College and Hospital in India witnessed around 300 footfalls daily, while over 100 people normally visit the facility. Despite the fact that the hospital is not a Covid center, it distributes ayurvedic medications to clients to assist them to improve their immunity and combat the epidemic. Further, ayurveda came out as effective medicine to enhance immunity without side effects, which led to the growing demand for ayurvedic treatment amid the pandemic. This, in turn, boosts the market’s growth during the pandemic.
Scope of the Global Ayurveda Hospitals Market
The study categorizes the ayurveda hospitals market based on hospital type, disease type, care type, and end-users, at the regional and global levels.
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By Hospital Type Outlook (Sales, USD Million, 2017-2030)
- Preventive Care Centers
- Day-care Centers
- Rehabilitation Center
By Disease Type Outlook (Sales, USD Million, 2017-2030)
By Care Type Outlook (Sales, USD Million, 2017-2030)
- Health Care
- Oral Care
- Skin Care
By End-Users Outlook (Sales, USD Million, 2017-2030)
By Region Outlook (Sales, USD Million, 2017-2030)
- North America
- The Netherlands
- Czech Republic
- Rest of Europe
- Asia Pacific
- South Korea
- Australia New Zealand
- Rest of Asia Pacific
- South America
- Rest of South America
- The Middle East Africa
- Saudi Arabia
- South Africa
- Northern Africa
- Rest of MEA
The Rehabilitation center segment accounts for the highest CAGR in the market
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On the hospital type, the rehabilitation center is estimated for the highest CAGR during the forecasting period. The growth is attributed to the increasing lifestyle-related diseases and psychological disorders, surging the demand for rehabilitation centers. Further, ayurvedic rehabilitation centers provide treatment with no side effects, enhance quality of life, and establish peace of mind. Such factors propel the growth of the market.
Regional Analysis of Ayurveda Hospitals Market
On a regional basis, Asia-Pacific accounts for the major market share in 2021 due to the presence of various ayurveda research institutes. Also, ayurveda is believed to be the most ancient form of medicine practiced across the Asia-Pacific region, majorly in India, Singapore, Thailand, and other countries. Various ayurveda institutes are practicing ayurveda treatment and enhancing patients' quality of life.
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Key Market Players in the Global Ayurveda Hospitals Market
Key players operating in the ayurveda hospitals market are adopting various key strategies such as agreements, acquisitions, partnerships, and expansion to strengthen their market positions to gain major market share. The ayurveda hospital market is highly concentrated in nature.
Major players in the global ayurveda hospitals market are:
- Maharishi Ayurveda Health Centre
- The Ayurvedic Clinic
- Karma Centre
- Ayush Ayurveda
- JBS Group
- Hindusthan Ayurvedic Health Care
- NuAyurveda Clinic
- Shiva Ayurveda Spa
- Arogyadham Ayurveda Treatment Centre