Abstract

CONTRIBUTION OF MEDICINAL PLANTS IN ECONOMIC GROWTH

*Dr. Alok Ranjan Rajak and Dr. Ramadhar Singh

ABSTRACT

The term “medicinal plant” include various types of plants used in herbalism ("herbology" or "herbal medicine"). It is the use of plants for medicinal purposes and the study of such uses. The word “herb” has been derived from the Latin word, “herba” and an old French word “herbe”. Now a days, herb refers to any part of the plant like fruit, seed, stem, bark, flower, leaf, stigma or a root, as well as a nonwoody plant. Earlier, the term “herb” was only applied to non-woody plants, including those that come from trees and shrubs. These medicinal plants are also used as food, flavonoid, medicine or perfume and also in certain spiritual activities. Global statistics has revealed the continued growing economic importance of medicinal plants and plant-based pharmaceuticals which developing countries can harness to improve their pharmaceutical supplies that can impact positively on their healthcare delivery system. This is premised on the fact that most of these medicinal plants are abundantly indigenous in these developing countries that export them at very cheap rates to developed countries only to import pharmaceuticals made from them at very exorbitant prices that most often affect their foreign exchange. It is for these reasons and perhaps among others not mentioned, that this review suggests the need to intensify research into ethno-medicine as this can turn to address the current precarious supply and reduce the burden of import of essential medicines by the developing nations.

Keywords: Medicinal Plants, Healthcare, Economic growth, Pharmaceuticals.