OVERVIEW OF PHARMACEUTICAL INDUSTRIES
The growth of pharmaceutical industries was very rapid aer 1950 with the opening of
medical colleges and post-graduate facilities at various levels and in various countries having
their own specialization. Their major focus is to procure the consumers and give them relief
from their problems. The medical treatments, medical facilities can now available up to the
extent where private doctors, hospitals, surgeon, psychiatrist, etc. provide 24×7 service to
their patients.
The trend for rapid growth will be continued in this industry as the major players contribute
more towards the development of this industry. Science and technology has a greater
proportion of contribution in it. A number of major players retain their status a)ording
generic drugs in the market as a whole.
Prescription & Non-prescription medicines can be available in the market having scienti.c
approaches, understanding human biology (including DNA) and highly manufacturing
techniques. The generic drugs were developed during 1950’s and mass production of it can
be marketed during 1960’s. These included the .rst oral contraceptive, “The Pill”, Cortisone,
blood-pressure drugs and other heart medications.
Due to many technologies invented, drug consumers can purchase drugs through internet
from drug suppliers which are proven to be very helpful for the consumers. On the other
hand, drug suppliers can also place the order to the drug producers through internet. In
those days, new medicines came along with the new speci.cation with the major purpose in
the market which creates a boom in the industry and competition as well.
PHARMACEUTICAL INDUSTRY IN INDIA:
India’s pharmaceutical industries are at the growing pace having the great position in the
market. It is sustainable growth for the Indian market with new opportunities having the
fame of world leader in the production of high-quality generic medicines and drugs. This
helps India to a9ach with major markets like U.S, Africa, and European Union Nations.
The estimated revenue was estimated at US$ 13.1 billion in FY 2011 having the major share
of 10 percent increment a year compare to annual growth of 7 percent as a whole. It is
estimated that it can grow up to US$ 70 billion. It can ful.l around 70% of the country’s
demand by providing tablets, capsules, bulk drugs, etc. Its leading role is to boost further in
the economy and creates a great impact on the domestic as well as global pharmaceutical
market by providing satisfaction to the drug consumers.
