The growth in this market is predicted on the basis of various factors like market drivers, current and upcoming trends, current growth pattern, and market challenges. o Drugs that increase demand in existing markets. However, a trend of consolidation is visible at the top with the 5 players in the Indian pharmaceutical industry account for 22% of the retail formulations market. Click to learn more https://goo.gl/CYf83b. The industry was almost non-existent in this period and despite the existent need, demand was limited due to low-income levels and lack of access to medicines. Don't Miss a Chance to Connect With Experts. At Paperap.com you will find a wide variety of top-notch essay and term paper samples on any possible topics absolutely for free. Sorry, but copying text is forbidden on this website. Another aspect which is leading this growth is rising focus of pharmaceuticals companies to tap the rare and speciality diseases market. … Policy-driven changes in healthcare spending and the growing significance of generic competition are acting in tandem to force pharmaceutical companies to adopt more cost-effective manufacturing strategies resulting in an upsurge in the level of M&A activity in the industry as drugmakers consolidate to reduce costs, diversify product portfolios and expand geographic … This report also covers therapy-wise forecast for 15 key therapy areas (Antianemic, Anticoagulant, Antidiabetics, Antifibrinolytic, Antihyperlipidemic, Antihypertensive, Antirheumatics, Antiviral, Bronchodilators, Dermatological, Immunosuppressants, Multiple Sclerosis (MS), Oncology, Sensory Organ and Vaccine) in global pharmaceuticals market. May 1, 2017. The social nature of today’s constantly connected patients and consumers means life sciences organizations must provide on-demand access to information and support. share; Market Study Report, LLC, adds a comprehensive research of the ' Nano Pharmaceutical market' that mentions valuable insights pertaining to market share, profitability graph, market size, SWOT analysis, … It's Free! Factors hindering growth include payer scrutiny and the threat of price control, and generic and biosimilar competition. Apart from this generics pharma market is facing decreasing return on investment due to price erosion in key markets which is forcing many firms to look for other avenues and markets to sustain growth. Expiring patents 2. The DPCO was again amended in 1987, resulting in a reduction in the number of drugs under price control from 163 to 146. - This report has detailed profiles 10 key players in Global pharmaceuticals market covering their business strategy, financial performance, future forecasts, competitive landscape and SWOT analysis. The average length of time required to develop a drug is estimated at 12-15 years, increasing over the years, mainly because of the tightening of the regulations associated with drug approval in different countries. The size of the global pharmaceutical industry was estimated at US$362.8 billion (December 2000) with North America being the largest market (44%), followed by Europe (24%), Latin America (6%) and Asia, Africa and Australia having a combined share of 26%. Fragmentation at every stage and lack of integration across the value chain impact the visibility and traceability of products as they move. Ethical pharmaceuticals market is expected to gain market growth at a potential rate of 7.70% in the forecast period of 2020 to 2027. Want to add some juice to your work? The signing of the GATT induced a series of changes in the business strategy of the existing pharmaceutical companies. Category: #world By Partha Ray Published: 11 hours ago. All the content of this paper is just her opinion on Growth Drivers Of Pharmaceutical Industry and should not be seen as the way of presenting the arguments. Moreover, only around three out of every 10-drug products recover their R&D costs. Initially, Government policies for the pharmaceutical sector encouraged multinational companies to establish manufacturing bases in India, leading to the dominant control of the Indian pharmaceutical market by these MNC’s (market share of over 80% ). Get Your Custom Essay on Growth Drivers Of Pharmaceutical Industry Just from $13,9/Page, We will write a custom essay sample on Growth Drivers Of Pharmaceutical Industry specifically for you FOR ONLY $16.38 $13.9/page. With the introduction of the Indian Patents Act and the Drug Price Control Order in 1970, Indian players discovered new avenues of growth, and consequently, the share of the multinationals declined. This is partly due to thousands of compounds that are currently in the latter stages of clinical development, coupled with hundreds of new products … Pharmaceutical Policy 2002 was announced, wherein the number of drugs under price control has been reduced from 74 (under DPCO 95). North America is expected to retain it’s leading position in the global pharmaceuticals market with market share of 45.33% in 2023 improving on it’s market share compared to 2017. To wrap it up, ten drivers of market growth in the pharmaceutical industry are branded drugs, off-patent drugs, OTC growth, healthcare reform, higher drug prices, changing drug status, the convergence of healthcare and technology, innovations in medical treatment, chronic ailments, and an aging population. Emphasis on strategically working with regulators to reduce or at least stabilize prices for vulnerable … Increased foothold in markets such as Japan and China. In 2008, 1.4 billion people – and rising – were overweight, according to WHO estimates. of service. through 2022; that’s just half the rate of growth the industry experienced in the previous five-year period. Government reduced the number of drugs under DPCO further from 146 to 74. spaced), Paper type: Essay , It is characterized by relative immunity to economic cycles in the short to medium term. $ 1 trillion by the Indian pharmaceutical industry exist earlier: a recent example of this is Pfizer ’ Five! 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