The rise of fish processing over the years has led to an upsurge of by-products like fish scales, bones and skin which are often considered as trash and discarded. Study on two most common carp fish in Indian freshwater, Catla catla and Labeo rohita revealed some valuable by- products from nonedible fish scales such as type I collagen, gelatin, hydroxyapatite, chitin and chitosan. The remarkable antioxidant effects of fish gelatin isolated from fish scale is of great pharmaceutical importance in addition to type I collagen which is utilized for implants to culture skin cells or as drug carrier for restoration of skin. Collagen has haemostatic characteristic and facilitate blood coagulation as well as tissue repair. A natural biocompatible component of fish scale that coexists with collagen protein is hydroxyapatite. Hydroxyapatite is also used in controlled drug release by pharmaceutical industry and hip replacement surgery. Currently chitosan obtained from chitin present in fish by-product is gaining popularity as a potential drug candidate and gene carrier for anticancer chemotherapy. Taken altogether, our study highlights the importance and method of extraction of different by-products of Indian fresh water fishes in health science.