Commercialization of medicinal plants (Part 1)....

India is a country where herbal remedies are always preferred first before visiting a doctor. And even some of the physicians also suggest use of old Ayurvedic remedies along with the allopathic drugs. Also, in case of beauty regimens herbal treatments are the first choice. Better therapeutic action and less side effects are the key factors driving the demand of herbal products and drugs. 

Since last few years, worldwide demand of herbal formulations have shown a visible growth and hence different healthcare and life science companies have focused on more production of herbal formulations. Based on the formulation category, the market for medicinal plants is segmented into pharmaceuticals, neutraceuticals, cosmeceuticals, spices etc. and hence the demand of herbal raw materials changes according to the market type. 

The raw material (medicinal plants) required for production of herbal formulations is either obtained from local farmers or is imported from different countries. These companies pay reasonable cost for these raw materials. The companies don’t need the whole plant as a raw material, only the part of plant containing active ingredient/constituent is required. It could be a fruit, leaf, roots, stem, and seed and in some cases the whole plant itself. Amla (Emblica officinalis), Tulsi (Ocimum sanctum), Jethi-madh/liquorice (Glycyrrhiza glabra), Jaswanda (Hibiscus rosa sinensis) are some examples of medicinal plants that are demand. 

Unfortunately, there is lack of awareness about trading of medicinal plants in most of Indian farmers as compared to farmers in other countries. And even if the concept is known to someone, less knowledge of cultivation and harvesting of medicinal plants, environmental factors and position of nearby market are some of the factors holding back the commercialization of medicinal plants. 

The role of a Pharmacist in
commercialization of medicinal plants starts here. There is a field in pharmacy called pharmacognosy. This field particularly deals with the study of crude drugs obtained from plants. And hence a detailed study of medicinal plants starting from their scientific name, sources, active ingredient, uses along with the cultivation and harvesting etc. is done throughout the study. In simple words, a pharmacist has a good knowledge that can be used in commercialization of medicinal plants.

This knowledge can be used in proper commercialization of medicinal plants. Apart from retail pharmacy, it is a good alternative to start your own business. Especially, if you are living in an underdeveloped region; where retail pharmacy don’t have much scope for growth. Though the process is not easy, you can at least start from a small project for cultivation, harvesting and trading of medicinal plants and then slowly you can expand it to a much better business. 

For example, you can begin with the cultivation and harvesting from a small region and perform the proper cultivation and harvesting practices. Once you get the idea about trading and marketing you can involve some of the local farmers into this process by educating them properly with benefits and training them with the process. This is called as contract farming. In this way you not only develop your business but also generate a fix income source to farmers. Indirectly, you develop a symbiotic relationship with farmers where both of you get long term benefits.

In addition to trading of medicinal plants, you can also start processing of some herbs into more compliable forms such as essential oils, extracts, powders etc. and then trade them to the companies. In this way you can improve compliance for the companies by minimizing some steps and time in manufacturing and hence get more consideration in the market. There are some companies which produce medicinal plants and trade their processed form to manufacturers. 

Apart from trading, there are some other segments in which commercialization of medicinal plants can be done which I will discuss in my next article. There are so many opportunities around us, all we need to do is think openly and keep a positive attitude. 

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