Market Analysis of Pharmacology and Related Research
The global $1.12 trillion market in 2022, will rise at a faster clip during 2016-2020, then slow down a bit as major patent expiration take hold. It is expected that the global market declined by 1.0% in 2015, but will grow by 4.8% this year.
Prescription sales excluding generics will rise 4.4% this year, and expected to reach $1.006 trillion in 2022. Generics sales will increase from $73 billion in 2015 to $115 billion in 2022, and constitute 10.2% of prescription sales at that point only 0.3 percentage points more than it is now.
The global market for drug discovery technologies and products was worth $38.4 billion in 2011. This figure is projected to reach $41.4 billion in 2012 and $79 billion in 2017, a five-year compound annual growth rate (CAGR) of 12.2%. There is a need to impede serious adverse effects caused by the drugs by enhancing drug targeting through research in Pharmacology.
The global revenue for single use technology reached $1.4 billion and $1.7 billion in 2013 and 2014, respectively. This market is expected to grow at a compound annual growth rate (CAGR) of 11.7% to nearly $3.0 billion for the period 2014-2019.
SUMMARY OF World Congress on Pharmacology:
Clinical Pharmacology growth and the possible measures to consolidate the existing skill base and future expansion. He has suggested the development of experimental and translational medicine, contributing to personalized medicine, service support to pharmacotherapy, teaching medical students and practicing doctors.
Price Water Cooper (PWC) 2020 vision estimates world pharmaceutical market to be $ 1.3 trillion and Indian Pharmaceutical Industry to be $ 20 million by 2020. But India will be competing with other emerging markets like China and Brazil. While traditional pharmaceutical institutes do everything from R and D to commercialization themselves.
IMPORTANCE & SCOPE
The pharmaceutical industry comprises of companies that are engaged in research, development, manufacture and distribution drugs for human or veterinary use.
The primary function of the research-based pharmaceutical corporations is to create value by discovering and producing effective medicines, vaccines and services that improve patients’ well-being, and can be sold in markets at a profit.
As well as increasing shareholder value, this contributes significantly to the quality and protection of life and helps make the world a better place.
In the past 60 years, innovation and technology have driven huge improvements in global health.
Greatest Achievements in the Field of Pharmacology:
1. ALS/MND BREAKTHROUGHS
4. ORAL-BASED BIRTH CONTROL PILLS
5. SMALLPOX VACCINE
Products manufactured by the industry related to Pharmacology research:
- Formulation and pre-formulation development
- Powder blending
- Hot melt extrusion
- Chemical engineering
- Chemical reactor
- Medical science liaison
- Pharmaceutical formulation
- Pharmaceutical packaging
- Site master file (pharmaceuticals)
- penicillin, streptomycin,
- Tetracyclines, chloramphenicol, and antifungals
- Other synthetic drugs, including sulfa drugs,
- Antituberculosis drugs, antileprotic drugs,
- analgesics, anesthetics, and antimalarials
- Synthetic hormones
- Glandular products
- Drugs of vegetable origin such as quinine,
- strychnine and brucine, emetine, and digitalis
- Vaccines and sera
- Surgical sutures and dressings