AYUSH represent the medical systems that fall under the category such as Ayurveda, Yoga, Siddha, Homeopathy, Unani, and Naturopathy.
The Indian health and wellness industry is evolving at a rapid pace through innovative technologies and new business ideas. From a business point of view, the industry has shown great results over the past couple of years which has eventually attracted more number of investors and entrepreneurs to invest in this sector.
The industry is growing internally at a rapid pace which is why the future of the Indian health and wellness industry looks promising. Increased number of entrepreneurs could be seen penetrating this segment with new business ideas, further flourishing different segments under the overall health and wellness industry.
For example, Ayush wellness centers are making a great buzz in the entire country these days. It is one of those segments that have been in existence for a long time but has recently managed to gain popularity among the health-conscious population.
What is AYUSH?
AYUSH represent the medical systems that fall under the category such as Ayurveda, Yoga, Siddha, Homeopathy, Unani, and Naturopathy. These systems are believed to represent a way of healthy living with established concepts on prevention of diseases and promotion of health.
Recently, the Indian government has announced to open 4,200 Ayush wellness centers in FY19-20 in different states. The government is also planning to provide financial assistance to set up integrated Ayush hospitals in 85 districts of India.
Since the demand for Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy (AYUSH) services is gaining immense popularity in modern India, this might be the correct time to enter the health and wellness industry with services similar to it. The probability of getting accepted as a wellness firm by Indian customers is relatively high in today's time.
Promoting the Affordable Health System
The Indian consumers will definitely incline towards those wellness centers which are offering quality services at an affordable rate. While the health-related services are known to be quiet expensive globally, initiatives like AYUSH could well just transform the industry.
Indian entrepreneurs are now looking to cure different diseases through tradition medication which come without any side-effects. These services are quite effective and affordable as well which might be the reason why India is becoming a hub of foreigners that are looking out for quality treatment.
Encouraging the Traditional Medical Systems
Traditional medical systems are back in the limelight as both the consumers and entrepreneurs have started to realise its benefits, especially in the long run. As a result, many aspiring entrepreneurs are expressing their interests towards setting up their business, mainly focusing on traditional medical systems.
Entrepreneurs are now heavily relying on ayurveda, unani, homeopathy, and naturopathy for treating their patients, assuring quick recovery without any further side-effects.
The minister of AYUSH says, "The government is trying to modernise Ayush hospitals across the country and is increasing the number of doctors. It is also modernising the postgraduate AYUSH medical colleges.
It is also encouraging the state government to upgrade the infrastructure and improve the financial situation of the Ayush colleges functioning under their control."
"The government is also promoting Yoga for the healthier life of the people," adds the minister.
Converging Traditional Medication with Modern Science
Jairam Ramesh, Congress member says, "There is a need for convergence of tradition medical systems with modern science. He suggested that the first three years of education curriculum for students of modern and traditional medicine should be the same. The students should choose a system of medicine like Allopathy or Ayurveda in the fourth years."
So, if you believe that entrepreneurship is your forte, then this might be the correct time to set up a business, dealing with courses like ayurveda and allopathy that will eventually gain popularity in the next 2-3 years.