In fact, according to one industry veteran, pharmaceutical companies started mining TCM for new ideas years ago. Youseen is a Suzhou-based TCM biotech. It has developed a new drug made from the forsythia plant.

Xuan Zhenyu, President of Youseen said "TCM is a Chinese specialty. And in this field, we have our own intellectual property. Right now, TCM is becoming more well-known for its beneficial properties in curing diseases around the world."

One big question that has arisen is how to go about patenting something that has been around for thousands of years.

Industry experts share their thoughts.

Greg Scott, President & CEO of Chinabio said "If you synthesized a separate molecule and modified it in some way, or possibly conjugated it with something, then essentially, you have a new chemical entity. And that is patentable, protectable as though it were a completely new product."

Arthur Mok said "And one of the challenges that TCM has is that a lot of the TCM derived products have ingredients that may be difficult to source. There may be political issues surrounding some of the ingredients. Some of the ingredients could actually be derived from endangered species."

Endangered species notwithstanding, TCM looks set to experience a surge in popularity as western and Chinese companies look to it for inspiration as their usual pipelines dry up.

Xuan Zhenyu said "Our main customers include major pharmaceutical manufacturers in China. We have a lot of partnerships. Eventually, we will enter the international market. Recently, we've had some customers from France and Germany come visit and discuss cooperation and research opportunities."

The history of traditional Chinese medicine is almost as long as the history of China itself. Usually regarded as an alternative medicine source by western countries, TCM is a mainstay in Chinese culture that has actually moved westward and become more accepted. Now, it seems poised to use the technology traditionally used in the West to prove and improve its techniques and perhaps gain full credibility with healthcare specialists and consumers worldwide.

It's an important trend for a treatment that used to be regarded as outdated. Only time will tell if the integration of TCM in medical practice and drug discovery will work. But for now, the future looks bright.

Editor:Xiong Qu