Herbal medicine market to cross Tk 2,500cr by 2020

The herbal medicine market, which has been expanding gradually since 1980, will exceed Tk 2,500 crore by 2020, herbalists said yesterday.
The sales volume of herbal medicines jumped to Tk 1,000 crore in 2010 against Tk 1 crore in 1980. Bangladesh can earn valuable foreign exchange and create jobs through further expansion of the industry, they said at a workshop.
Bangladesh Ayurvedic Aushad Shilpa Samity (BAASS) with the support of Medicinal Plants and Herbal Products Business Promotion Council arranged the workshop at the Diploma Engineers Institute auditorium.
Industries Minister Dilip Barua was the chief guest at the workshop, chaired by Samity's founding President Selim Mohammad Shahjahan.
Bangladesh Unani Association Chairman and Hamdard Managing Director Hakim M Yusuf Harun Bhuiyan; AP Group Chairman AFM Fakhrul Islam Munshi and former BAASS president DS Sarkar also spoke.
Herbal medicine researcher Abdus Sabur Khan presented the keynote paper.
Barua said the use of natural medicine, free from side affects, would have to be increased to ensure sound health for all.
The government has already recognised the production of herbal medicine as industry. “The government will provide required policy support to help flourish the Unani and Ayurvedic medicine industry,” Barua said.
The nation's 210 Ayurvedic establishments produce 272 types of medicines.