The knowledge of biotechnology is applied in all major areas of human life like medicine,  agriculture, petrochemical, food processing and aromatic manufacturing industry. Medicinal  plants have been grown on this plant since ancient times. With passage of time human beings  developed the technique of extraction of medicines from the medicinal plants. The medically  important components like antioxidants, analgesics, antiviral, antibacterial etc agents are extracted  from medicinal plants through the latest biotechnological techniques and methods. Lipids are in  great demand in biochemical industries and to fulfill this demand biotechnological techniques come into play for extraction of the same. This paper reviews various applicative aspects of
biotechnology through literature review and positive impact of the same on human development