The utilization of herbal drugs is on the flow, and the market is growing step by step. The annual turnover of the Indian herbal medicinal industry is about Rs. 2,300 crore as against the pharmaceutical industry’s turnover of Rs. 14,500 crore, with a growth rate of 15%. The export of medicinal plants and herbs from India has been quite substantial in the last few years. India is the second largest producer of castor seeds in the world, producing about 125,000 tonnes per annum.
INDIAN HERBAL TRADE IN WORLD SCENARIO
The utilization of herbal drugs is on the flow, and the
market is growing step by step. The annual turnover of the Indian herbal
medicinal industry is about Rs. 2,300 crore as against the pharmaceutical
industry’s turnover of Rs. 14,500 crore, with a growth rate of 15%. The export
of medicinal plants and herbs from India has been quite substantial in the last
few years. India is the second largest producer of castor seeds in the world,
producing about 125,000 tonnes per annum. The major pharmaceuticals exported
from India in the recent years are isabgol, opium alkaloids, senna derivatives,
vinca extract, cinchona alkaloids, ipecac root alkaloids, solasodine,
Diosgenine/16DPA, menthol, gudmar herb, mehndi leaves, papian, rauwolfia, guar
gum, jasmine oil, sandalwood oil, etc. The turnover of herbal medicines in
India as over-the-counter products, ethical and classical formulations and home
remedies of traditional systems of medicine is about US$ 1 billion and export
of herbal crude extract is about US$ 80 million. The herbal drug market in
India is about US$1 billion. Some of the medicinal plants, whose market
potential is very high, have been identified and summarized in Table below.
Table : List of high-market-potential medicinal plants
Related Topics
TH 2019 - 2024 pharmacy180.com; Developed by Therithal info.