Pharmacognosy is the study of medicinal plants and natural products. The document traces the historical development of pharmacognosy from ancient civilizations like Babylon, Egypt, India, Greece and China. It discusses how modern pharmacognosy emerged in the 20th century due to discoveries like penicillin. The current status and future scope of pharmacognosy is highlighted, including the importance of natural products in drug development and alternative medicine systems like Ayurveda, Unani, Siddha, homeopathy and traditional Chinese medicine.