Experts discuss nutraceuticals market & its regulatory framework

At a seminar organized by top industry body, ASSOCHAM at Delhi, the panelists extensively deliberated on challenges and growth opportunities in sector slated to be 4 billion USD by 2018 with a growth rate of 18 percent


The event was attended by close to 300 participants including academicians, industry leaders, students and activists.

The ‘National symposium on Nutraceuticals, Herbals and Functional Foods' was organized by the knowledge chamber, The Associated Chambers of Commerce and Industry of India (ASSOCHAM) on July 22, 2015 at New Delhi.

Speaking on the occasion, the health minister in Delhi government, Mr Satyendra Jain mentioned that the state government would be opening a thousand clinics in a year mostly in slums where the emphasis will be in protecting health and improving immunity through better nutrition and health supplements. He recalled that in the three clinics the Delhi government opened recently in the slums, majority of patients was women. Out of them 80 per cent were found suffering from high deficiency in hemoglobin.

The ASSOCHAM-RINCOS knowledge paper on nutraceuticals, herbals and functional foods was also released at the seminar. The event was attended by close to 300 participants including academicians, industry leaders, students and activists. Besides various sessions that saw presentations and discussions, there were question answer sessions between participants and panellists.

"The market is restrained by lack of a solid regulatory framework which is crucial for medical credibility as it ensures high quality products. The paper revealed that the US alone has 36 per cent of the global market for these with Asia-pacific rising to 30 per cent. Japan is a major consumer with 14 per cent and China 10 per cent," mentioned Mr D S Rawat, secretary general, ASSOCHAM.

Taking on this theme, Dr H K Chopra, chief cardiologist at Moolchand Medicity and co-chairman of ASSOCHAM national Council of Healthcare and Hospital , emphasized that healthcare was more important than medicare. "In public health programmes, the emphasis should shift from illness to wellness. This would save millions of people from later diseases. Over 90 per cent of people above 60 years of age suffered from nutritional deficiency. It was very important that more than pharmaceuticals the people needed nutraceuticals (nutritional supplements)," he said.


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