Indian Ayurvedic pharmaceuticals will be set on an upward spike on the international sales graph when World Health Organisation's plan to establish the format for standardisation of traditional medicine in health care systems takes shape.
When that happens, the Ayurvedic medicines will also brought under the format of standardisation and validation, which will help Ayurvedic companies sell the medicines in developed markets.
Currently, only Ayurvedic products in food supplements and cosmetics segments are sold in developed markets, while Ayurvedic medicines are yet to enter these highly lucrative markets. Even after getting the validation and standardisation, a prior approval from the US FDA (Food and Drugs Administration) is mandatory for entering these markets.
Already, traditional Chinese medicines have a foothold in the US markets and it is estimated that last year alone Chinese traditional medicines worth over $ 3 billion were sold in the US.
The objective of WHO Strategy for Traditional Medicine for 2002 to 2005 is to discuss the role of traditional medicine in health care systems, current challenges and opportunities and WHOรขโฌโขs role and strategy for traditional medicine.
Though Ayurvedic medicines are widely used in India, there is no valid third party validation here on the properties of these medicines. The WHO format of standardisation will prepare the platform for the initiative.
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