Medicines continue to form the mainstay of treatment methods for most medical conditions known today, despite some speculations that chemicals in the human body may be self-regulated via nanobots in the future.
But that future is still 50 years away. At present, healthcare is still learning to cope with the possibilities of precision medicine and artificial intelligence.
The domestic pharmaceuticals market is said to be the world’s third largest in terms of volume and thirteenth largest by value. Implying that one out of every three tablets available anywhere in the world has been produced by an Indian company. The sector was valued at USD 33 billion in 2017; and by September 2018, the market had grown by 9.7% to tally almost USD 18 billion. The US makes up for 40% of all generic medicine demand from India, while its pharma workforce boasts of great representation in new drug applications and drug master files applications in the country. Healthcare has seen a clear shift toward patient centrality and quality enhancement while pharmaceuticals are moving towards niche products. There are several new areas, which modern pharma employees need to have knowledge of and train themselves to remain relevant and have a sustainable role in tomorrow’s industry.
Biosimilars and rare diseases
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