'Let's promote traditional medicine industry'
The Member of Parliament (MP) for Ahanta West, Mr George Aboagye, has advocated the development and promotion of the traditional medicine industry since it has the potential to match, if not supersede, the export of cocoa and timber.
Mr Aboagye made the suggestion in a statement presented on the floor of the House on the potential of Ghana’s medicinal herbs/plants in the global traditional medicine market.
Estimated export of herbal medicine
The use of alternative medicine, due to the growing demand for nature-based products (that is herbal medicinal plants), was on the increase, the MP stated, explaining that a considerable number of individuals were becoming more and more dependent on medicinal treatment.
He said the Global Industry Analyst Incorporated (GIA) of the USA estimated that complementary and alternative medicine currently provided healthcare for about 75 per cent of the population in developing countries and over 50 per cent of the population in the developed world for lifestyle related diseases.
The global traditional medicine market is huge and is estimated to reach $114 billion by 2015, he said.
Modalities for advantage
Mr Aboagye added that a number of developing countries had already set up the modalities for taking advantage of the huge global market for traditional medicine.
He cited Malaysia as a case in point, explaining that that country had identified its innumerable variety of plants, herbs and living creatures as unique resources for the biotechnology industry to serve as an important future engine of economic growth.
According to Mr Aboagye, the Malaysia government had allocated substantial funds for the expansion of the industry which it regarded as a key contributor to make towards the orientation of the national economy, predicting that the sector would generate around $50 billion in revenue for the country by 2020.
Ghana’s involvement in Traditional medicine
Mr Aboagye said Ghana was no exception to the increasing use of traditional medicine, particularly on account of rising healthcare costs associated with contemporary therapy.
He estimated that 950 tonnes of crude herbal medicine was sold on the local market in 2010, with a total value of GH¢7.8 million and added that in 2008 medicinal export earning topped $15 million, which accrued to over 30,000 wild collectors, 500 agents and 45 exporters.
Risks
The MP stated that there were, however, risks associated with the application of alternative medicine therapies such as toxicity, unfavourable side effects, injury possibilities and the deficiency of qualified practitioners.
“It is important that major research institutions in the industry be strengthened to provide the necessary support for the production of alternative medicine.
Centre for Scientific Research into Plant Medicine
Mr Aboagye said the Centre for Scientific Research into Plant Medicine, whose vision was to make herbal medicine a natural choice for all, had the mission of gaining the highest recognition to research and develop herbal products that would meet the exact needs of both patients and industry through innovative scientific research and productive partnership.
He, therefore, called for an increase in the centre’s capacity to undertake various research work for the medicinal plant industry and to enhance the industry’s ability to take advantage of the huge potential that abounded in the global traditional market.
Proliferation
It is worth noting that currently in Ghana, there is a proliferation of companies and agents in the provision and sale of traditional medicine, some of which have been certified by the Ghana Standards Authority and the Food and Drugs Authority.
Mr Aboagye said unfortunately there were a substantial number of traditional medicines that fell outside the recognition of these institutions and for that reason collaboration between the producers and research/certifying institutions should be mandatory, with the view to minimising the risks associated with the alternative.
