Prospects Of Pharmaceutical Industries
By: Eric Ittah
The word pharmaceutical is derived from
the Greek word “Pharmakeia”.
Meaning of the word “Pharmaceuticals”
Pharmaceutical industries are the backbone of any
country’s economy due to the growth of different types
of diseases. These industries continuously engage
themselves in doing research and development process.
They are a great help to healthcare providers because
they develop chemicals that help in the cure of
Why there is need of Pharmacy industries?
Pharmaceutical industry absorbs all the stages that
are associated to drug discovery, its development,
safety, formulation, use, quality, packaging,
marketing etc. Along with this, it is involved in
designing high quality drugs and formulation at an
The main objective of these industries is to protect
the well being of community by offering superior
quality drugs and chemicals.
The main beneficiaries are –
•Patients ailing with different types of
•Healthcare service providers
Beneficiaries of pharmaceutical industries
The main challenges faced by pharmacy industries include:
•Dramatic increase in the number of medicines in the market
•Rising cost of healthcare
•Limited financial resource
•Inefficient health systems
•Shortage of human resources in healthcare sector
•Rational use of medicine
Challenges faced by pharmaceutical industries
There has been steep increase in the pharmaceutical
industries down the years because of healthcare
reforms and economic growth worldwide. Rapid
economic growth, increase in population and
growing of diseases has made this sector gain a big
boom globally. Latest technology used in the field
of drug research and development has also made
pharmacy sector one of the most leading sectors.
rospects of pharmaceutical industrie