ECONOMIC ANALYSIS OF TRADITIONAL MEDICINE SYSTEM AND CULTIVATION OF ASSOCIATED MEDICINAL PLANTS OF KERALA
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Date
2007-10-05
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University of Agricultural Sciences GKVK, Banglore
Abstract
Kerala is well known for the existence of traditional medicine practices in harmony with
modem medicine. Market imperfections, increasing demand for herbal medicine
followed by unscientific and destructive harvesting methods from the wild is tampering
the state forest resource. Against this backdrop, the present study focuses on estimating
the economics of cultivation of medicinal plants for augmenting their supply and
analyzing the intermediaries' market share. The study probes economics of treatment
under different medicinal systems and determinants behind their selection. The result of
the study identifies rheumatoid arthritis, peptic ulcer, hemorrhoids and common cold as
the common problems for which patients resort to altemative medicine. For treating
hemorrhoids and peptic ulcer ayurvedic medicine showed a lower cost of Rs.960 and
Rs.7718, compared to other systems. On the Contrary, rheumatoid arthritis and common
cold ayurveda showed a higher cost of Rs.28750 and Rs.220, respectively. The cost of
medicine was lowest in siddha. In ayurveda, low side effects was ranked first (35 %) as
the main reason for adopting this system, and in allopathy, curability was ranked high
(25%). Age and number of days taken for cure were found to have a negative influence in
going for ayurvedic medicine. Days of suffering was found to be the only factor which
made patients to shift from allopathy to ayurveda. The net return per rupee of expenditure
was Rs.1.05 for Adathoda vasica and Rs.1.47 for Plumbago zylanica. The estimated
demand elasticities were positive in all the medicinal plants considered. The share of
margin and cost of pharmacies stood high irrespective of plants and the channels. The
result implies lack of price regulatory body in herbal medicine sector and development of
formal collaboration between different medicinal systems for efficient and effective
health care. The cultivation of medicinal plants should also be promoted for reducing the
demand supply gap
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