Herbal medicine is undoubtedly the oldest system of medical science in the world. Utilization of nature's wealth for health benefits and the cure, prevention and mitigation of diseases plays a big role in human civilization, with a dependency of a large number of human populations particularly in developing countries. Globalization of the local knowledge regarding the use of indigenous medicinal plants by traditional healers and localization of globally advanced technologies have boosted the growth of herbal industry and created immense global interest towards herbal medicine. The advancement in the technologies have also helped the developed countries to adopt this ancient and enriched medicinal system in a new way. An improvement in each step of herbal medicine production has recently been possible with the aid of technical developments. The increase in the demand and utilization of herbal medicine in the past few years has been increased considerably indicating herbal 'renaissance'. The current trend of utilization of these formulas after scientific researches and modern technological aspects helped in industrial growth of herbal medicine.