Latest Trends in Pharmaceutical Sector

.1 Latest Trends in Pharmaceutical Sector

Global sales of pharmaceutical products represent the international spread of medical technology that comes as the result of highly intensive R&D efforts in the exporting countries. Medical innovation is transmitted across the world, thus contributing to significant gains in average life expectancy

Europe has traditionally been the biggest exporter of pharmaceuticals in the world. Pharmaceutical exports represent more than a quarter of Europe’s total high-tech exports. In recent years India have managed to position itself as important pharmaceutical exporter.

Pharmaceutical Trade and Forecast, India

Pharmaceutical Trade and Forecast, United States

Pharmaceutical Trade and Forecast, China

From the data represented above it shows that India is path of progress in terms of the increase in the exports and increase in output, India is the only country among USA and China that is successful in maintaining the Trade balance.

The United States share of global spending will increase from USD 461.7 billion in 2016 to USD 645-675 billion in 2021, while the European share of spending will grow from USD 151.8 billion to USD 170-200 billion. Meanwhile, pharmerging countries will spend USD 315-345 billion in 2021 from 242.9 in 2016

The manufacturing cost index of India is almost 33% less the global pharma producer that give it advantage of producing the high quality medicines at very low cost.

The pharmaceutical industry’s activities have a strong and positive influence on the economy.

Regional Breakdown of the Gross Value Added in the Pharmaceutical Industry (USD Billion)

The research-based pharmaceutical industry is particularly economically active in production and R&D in certain countries. Globally, the production value of the pharmaceutical industry amounted to USD 997 billion (2014), more than USD 345 billion higher than in 2006. In 2014, the pharmaceutical industry accounted for 3.8% of the gross value added in manufacturing worldwide. The economic strength of the sector globally roughly corresponds to the GDP of Argentina (USD 452.8 billion)

India’s progress in Pharmaceutical Sector

Due to the improved innovations, increase R & D efforts Indian pharma companies have been successful in decreasing the cost of products and increase the output year by year that leads