The present paper addresses the medicinal importance of Pterocarpus santalinus and P. marsupium, their distribution, causes of threat and effective conservation measures to be taken. The main focus of this paper is to deliver the message about the medicinal uses, their market price, commercial availability of drugs sold in the market, biotechnological approach for mass propagation and genetic diversity analysis in order to increase the byproduct levels from the pharmacological point of view which plays a crucial role in the health care of mankind.