The present study documents the traditional knowledge and micropropagation strategies of medicinal plants belonging to family Asclepiadaceae with particular emphasis on a well-studied medicinal plant Gymnema sylvestre R.Br. The family Asclepiadaceae comprises about 320 genera and 2700 species. Due to the elevated market demand of the medicinal plants belonging to family Asclepiadaceae, most of the species are endangered, threatened, rare or critically endangered. The species of the family are also exploited locally due to their high medicinal value and other etanobotanical properties. There are other constrains as well which impede their abundance in nature including low seed germination and poor vegetative propagation. In this direction various in vitro micropropagation protocols have been established from time to time on a range of species of the family Asclepiadaceae. Present review thus emphasizes on medicinal importance and in vitro micropropagation studies on various plants of family Asclepiadaceae with special reference to Gymnema sylvestre. Gymnema sylvestre (Hindi: Gurmar) is a medicinal plant of immense pharmaceutical value, but it is disappearing fast from its natural habitat. The species is threatened with extinction due to its indiscriminate collection as raw material for pharmaceutical industry, where it is used for manufacturing of drugs for diabetes, asthma, eye complaints, etc. So, present study was designed to provide an overview that can serve as a data base and prospective guide on medicinal importance and micropropagation studies on family Asclepiadaceae in general and Gymnema sylvestre in particular.