subject: Pharmaceutical Industry: Rapidly Growing Industry With Outstanding Development [print this page] High life anticipation & lower death rates are accredited to the valuable contributions by the Pharma Industry. The pharmaceutical industry is a continuously evolving. It is an industry which has the maximum amount of research & development activities as compared to other sectors of the industry. This industry develops, manufactures, & markets drugs licensed for use as medications to heal various types of illnesses. Pharmaceutical companies can deal in generic and/or brand medications.
Pharmaceutical industry is one of the most booming industries that have shown recent advancement in the field of medical science. It was not so easy and simple as it is now. We can now very easily get medication and treatment for any kind of normal or fatal disease with facing any kind of major problem.
This industry has to face numerous of policy, rules and is abide by many laws associated to patenting, testing, marketing promotion of drugs. The use of internet promoted consumerism as straight purchase of drugs by customers, etc was easily feasible. Also, the augmented advertising in electronic media gave this industry the much needed boost.
In the entire process pharma equipments plays a very vital role. Autoclave, fluid filling machine and many other tools and equipments are needed for the entire manufacturing process. Due to the advanced technology, it has become possible to get all such advanced equipments right in front of us.
With the help of these autoclave, filters, fluid filling machine etc. the manufacturing process has become so simple and fast. It plays a vital role in this instance and just because of the hi-tech equipments large amount of pharmaceutical products are manufactured for the common people that helps them to get healed or treated from any severe disease easily.
In India, this is the most controlled and well organized sector that plays a significant role in supporting development in the field of universal medicine. Due to the existence of low cost producing facilities, cultured and skilled manpower and low-priced labour force, the industry can reach great heights in production, manufacturing, research and development. It is likely to boost at an annual growth rate of 9.9%. Some exciting facts are that this industry grows at about 1.5 times the GDP. Worldwide, India rank 3rd in terms of volume of producing pharmaceuticals, and the retail pharma market is supposed to cross $12 billion by 2012.
