Herbal Medicine Formulation, Standardization, and Commercialization Challenges and Sustainable Strategies for Improvement

Herbal or Phyto medicines have been used since time immemorial as a form of traditional medicine systems and practices like Ayurveda, Siddha, Unani, and homeopathy. This medical system uses herbal medicines, or phytomedicines that are extracted from herbal plants, for the treatment of diverse diseases. People in developing countries such as Asia and Africa rely on herbal medicines for the treatment of various diseases the most because it is believed that they are cheaper, more effective, and risk-free. Herbal medicines are preferred over modern medicines in developing countries. However, herbal medicines suffer from a lack of scientific data on their effectiveness and adverse effects. But for the treatment of some serious disease conditions, phytomedicine formulation must be standardized and developed. Following the COVID-19 pandemic, the demand for herbal medicines has grown and commercialization challenges for herbal medicines are expected to also increase. Nonetheless, efforts should be made to increase the commercialization of herbal medicines by searching for their formulations, development, and methodology so that medicines can be made available for addressing serious diseases. This chapter focuses on some of these challenges and how to improve them.