The balm from Gilead was known to be combined with other ingredients to increase its potency, such as licorice and honey (among other ingredients), for solving chest congestion, or oil or lard for bruising, swelling, or damage to the skin. Inflammation is what the balm of Gilead is used most for, presently, especially for sunburns or arthritis. Some ancient historians say that Queen Sheba gave a gift of the balm to King Solomon.
Jeremiah 8:22 says, Is there no balm in Gilead? Is there no physician there? Why then is there no healing for the wound of my people?
Though Jeremiah was probably aware of Gilead’s history, God’s Word is never to represent just one thing or wisdom for one time period. If it did, then the Bible would have lost its meaning for all generations (past, present, and future) because it would only relate to the time it happened. No, as we think more deeply of what an all-powerful healing balm could be, one that would be the only thing to save an incurable condition- what else would that balm be than the sacrificial love, death, and resurrection of Jesus?
Like those of Jeremiah’s time, the people in the New Testament were wayward. The same people who had praised Jesus’ name and covered His path with palm fronds on Palm Sunday were crying, “Crucify Him,” a week later on Good Friday. Just as the people of Judah were told by God, through Jeremiah, that only the balm of Gilead could save them from themselves, the same could be said of Jesus as the balm of Gilead. His blood on the cross and willingness to give His life for us mirrors that of a healing balm that can heal us of our sin. And each Easter, we remember that when we were lost as a people and separated from God in several ways, Jesus made the ultimate sacrifice to offer the only healing balm to save our lives: repenting of our sins by accepting Him and His sacrifice on the cross.
Portions of this text were taken from Bible Study Tools. https://www.biblestudytools.com/bible-study/topical-studies/what-did-jeremiah-mean-by-there-is-balm-in-gilead.html
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