Review on Indian Pharmaceutical Industries Ou...

Review on Indian Pharmaceutical Industries Outlook in global Market

Author Name : Navina S., Guru Prasath S., Kowshik S., Eahanathan M., Rahim Babu A., N. Rajesh Kumar, Dr. P. Manikandan, Dr. M. Surendra Kumar

ABSTRACT

Pharmaceutical industry contributes to the welfare of humanity and provides significant socioeconomic benefits to the society through creation of jobs, supply chains and community development . The pharmaceutical industry has a number of unusual characteristics, both in its structure and in the nature of its business operations, which are little known outside the industry but which materially affect the process of bringing new pharmaceuticals to the patient. The development of a new pharmaceutical is very time consuming, extremely costly and high risk, with very little chance of a successful outcome. The Indian pharmaceutical company is one of the biggest and most developed in the world, rating fourth by quantity and thirteenth by way of value. They accounts for an estimated 10% of world production and 2% of world drug markets. It has made widespread strides in developing infrastructure and technical competencies over the years and therefore has manufactured a large range of pharmaceutical products. Industry is now mass-producing medicine in all principal therapeutic groups Interest and funding in research and development is increasingaffords employments to 29 million human beings .The contribution of Pharmaceutical vicinity in India’s GDP is 2% and 12% of manufacturing vicinity GDP .

Keywords: Drugs, Pharmaceutical Industry, Health care.