Pharmaceutical Industry, the discovery, development, and manufacture of drugs and medications pharmaceuticals by public and private organizations.
The modern era of the pharmaceutical industry—of isolation and purification of compounds, chemical synthesis, and computer-aided drug design—is considered to have begun in the 19th century, thousands of years after intuition and trial and error led humans to believe that plants, animals, and minerals contained medicinal properties. The unification of research in the 20th century in fields such as chemistry and physiology increased the understanding of basic drug-discovery processes. Identifying new drug targets, attaining regulatory approval from government agencies, and refining techniques in drug discovery and development are among the challenges that face the pharmaceutical industry today. The continual evolution and advancement of the pharmaceutical industry is fundamental in the control and elimination of disease around the world.
ROLE OF PHARMACEUTICAL
The Role of Pharmaceutical Industry in India GDP is immense. For the past few years the Indian Pharmaceutical Industry is performing very well.
The Pharmaceutical Industry in India is one of the largest in the World
It ranks 4th in the world, pertaining to the volume of sales.
The estimated worth of the Indian Pharmaceutical Industry is US$ 6 Billion
The growth rate of the industry is 13% per year
Almost most 70% of the domestic demand for bulk drugs is catered By the Indian Pharma Industry
The Pharma Industry in India produces around 20% to 24% of the global generic drugs
The Indian Pharmaceutical Industry is one of the biggest producers Of the active pharmaceutical ingredients (API) in the international arena
The Indian Pharma Industry includes small scaled, medium scaled, Large scaled players, which totals nearly 300 different companies.
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