Indian Health & Wellness Market is worth Rs. 2500 crore and is booming, clocking a healthy growth rate of 25%. (Source: Economic Times - 16th March 2007)

In India the majority of medical care is provided by "traditional" providers practicing acupuncture and ayurveda (both of which are considered "alternative" in this country). In some parts of India, Ayurvedic treatment is provided as part of a vacation package. While traditional Indian medicine has a 5000-year old history and has been used by millions, modern medicine is merely 150-years old.

The healing methods of the Far East (particularly China, India and Korea) are now finding increasing acceptance all over the world as an alternative line of treatment. For instance, the market for ayurvedic drugs is growing in the US with more and more Americans trying to "return to nature". Among the numerous formulations that have gained acceptance, isabgol is a hot favourite.

The future of alternative medicine in India is bright. In a developing country like India, alternative systems of therapeutics, which encompass ayurveda, homoeopathy, unani, reiki, pranic healing, acupuncture, acupressure, etc have a definite role to play in alleviating sickness – both chronic and acute. The cost-effectiveness, efficacy, low toxicity, and few adverse effects renders them invaluable as viable alternatives to conventional medicine. Similarly, homoeopathy is now a widely accepted system of medicine that has a worldwide following.

The WHO has assessed the total world market for alternative medicine at a whopping Rs 51,210 crore. The market for herbal remedies alone is pegged at $ 5 trillion, with an annual growth of 11 per cent.

"The Ayurveda, Yoga & Naturopathy, Unani, Sidha and Homeopathy (AYUSH) systems are being mainstreamed into the health delivery system at all levels. "

P. Chidambaram Minister of Finance February 28, 2007 - Budget Speech

Interestingly, herbal medicine accounts for 45 per cent of the European market. In fact, a WHO survey shows that 60 to 90 per cent of people in the UK rely on complimentary systems of medicine — which explains the renewed interest in these systems. Home to 15,000 medicinal plants, and as one of the 12 mega bio-diverse countries of the world, India is sitting on a veritable green mine.

Awakening to the potential, the Central Government has announced a separate national policy on the Indian Systems of Medicine & Homeopathy (ISM&H) to boost and promote indigenous medicine. A Medicinal Plants Board has been set up to address issues on conservation and sustainable use of medicinal plants.