Pharmaceuticals Market Research Reports and Industry Size, Share

A pharmaceutical company is also known as a drug company which is a money making business whose main focal point may be to develop, dispense or market drugs, research etc and is commonly used in the reference of healthcare. These companies either deal with the basic or a particular variety of medicines. The pharmaceutical industry is subjected with an array of rules, laws, regulations as well as restrictions. These laws and regulations are related to the testing, patenting of drugs, their marketing etc. There has also been specific rules and regulations on prescription drugs.

The pharmaceutical sector is one of the most triumphant industry and is flourishing at a rapid pace. This industry has been drawing attention of both praises as well as controversies. Though this industry has forever been under various laws and regulations it has shown remarkable growth and expansion as the identification and understanding of varied diseases and condition has developed and evolved over the years. The pharmaceutical industry has a huge impact by the research and development carried out with vaccines, prescription drugs as well as the OTC drugs being manufactured.

Before these drugs are sold out or distributed in the market clinical trial are carried out. It is essential to conduct these clinical trail’s to ensure that these drugs being developed are tested on individuals affected by the disease or condition to see how well they work on such individuals. It has been noticed that, over the year there has been a continuous growth in the global pharmaceutical industry due to the rise in chronic as well as infectious diseases. There has also been a considerable increase in the life expectancy of people all over the globe with the innovation of various new drugs. With a continuous increase, in the demand of various new innovative drugs and medicines many top companies are forced to undertake research and development activities.

Thus, research and development has become a very important aspect of investment in the pharmaceutical industry without which it’s survival would become quite difficult. The leading players of the industry apportion around 20 to 25 percent of their turnover to reach and development activities so that they can be a step ahead of their competitors. The emergence of bio-pharmaceuticals has opened a totally new playing field for innovations of various new drugs. It has also provided an impetus in the field of genomics and proteomics which has enabled various manufacturers of drugs to develop more useful and effective drugs. Recently the pharmaceutical industry has been attracting tax exemption as well as some public funding. Apart from these advantages it has to face many challenges such as short product life cycle and developing of blockbuster drugs.

The U.S is dominates the pharmaceutical industry which holds a staggering amount of around 45 percent of the total global market share. Economies like India and China are also growing at a faster pace and these countries are expected to show a double digit in their growth. The main reason behind the growth of these countries is because the global giants outsource their research and development to these countries because of their low cost.

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