The extraordinary discipline of Pharmaceutical Studies has played an integral part in the evolution of society. It has helped advance the arenas of healthcare and wellness to what it is today. Pharmaceuticals have come a long way from the medicinal herbs and roots of ancient times to the modern medicines that treat serious diseases.
Having said that, what do you think is exactly the domain of Pharmaceutical Studies all about? There’s a complicated definition, but in layman’s terms, it is the scientific drug discovery and development process. So, without complicating the topic, we, at B.S. Anangpuria Institute of Pharmacy, one of the best pharmacy colleges in Haryana, will try to create a clear yet concise picture of the subject in this article today. Read on.
Understanding Pharmaceutical Studies: A Brief Overview
Pharmaceutical studies aim to create new medicines that will be safe and effective for humans. The process involves the development of drugs from initial ideas to large-scale production. It is carried out by pharmaceutical companies, universities, and government agencies worldwide.
The process starts with a hypothesis about how a disease is caused or what would alleviate the symptoms of an existing disease. This hypothesis can come from many sources, including natural observations, knowledge about other diseases, and insights from medical specialists or patients. The drug development process then documents the scientific rationale for the new drug. A hypothetical trial generally takes place, in which a sample size is chosen after considering all these factors. Then the drug is administered by the scientists to see whether there are any improvements. These facts present a basic gist of what pharmaceutical studies comprise. Let us now have a look at the growth potential that the domain treasures.
The Current Status of the Pharmaceutical Industry in India
With the recent developments that have taken place within the last few years, India is rapidly growing into a hot destination for pharmaceutical R&D. That’s primarily because India offers many advantages over other countries. The country has developed a large pool of talented researchers and scientists, high-quality testing facilities, and performed groundbreaking clinical trials. With the help of all these factors, the Indian pharmaceutical companies have become titans in this industry. All of them combined are the largest providers of generic medicines worldwide.
Do you know India currently fulfills about 50% of the global demand for vaccines! As far as other medicines are concerned, India provides 40% and 25% of all medicines to the US and UK alone. It is also staggering to know that 80% of antiretroviral drugs used to treat AIDS patients are also produced and distributed globally by India. The country’s pharmaceutical domination is further illuminated by the fact that India ranks 3rd in pharmaceutical production volume and 14th in value. Today, India has a network of over 3000 pharmaceutical companies and approximately 10,500 manufacturing units. You can click here to get a detailed report about the industry’s current situation and growth potential. Thus, it is not surprising that many young individuals are gravitating toward this industry.
Growth Potential Offered by the Indian Pharmaceutical Industry
In a study conducted by the Indian Economic Survey in 2021, the pharmaceutical industry is projected to grow by 200% in the next decade. The amount this will translate to is $130 billion, approximately. Thus, as you can see, the growth potential is indeed astronomical. It means more job opportunities, increased medical availability throughout the country, and an increase in the nation’s wealth!
Moreover, medical testing sites with state-of-the-art equipment are popping up each day. This fact will translate to more foreign investors and more foreign pharmaceutical companies setting up manufacturing units here in the country. All this straight away indicates massive growth opportunities for the Indian pharma industry in the times to come.
A Final Note to Potential Students
Pharmaceutical studies have produced many distinguished names, and it is always looking for the brightest and the best. Choosing this discipline means you will learn about drugs, medical devices, and other treatments used to treat patients. You’ll understand how different drugs work and what side effects they can cause if not administered properly.
A career in the pharmaceutical industry can be a sparkling one as it is one of the most profitable in the world. It is also one of the fastest-growing, with increasing demands for new drugs and treatments. This increase has boosted job opportunities beyond comprehension not only in the country but also abroad. As such, this is the right time to plunge into the domain and build a great career in one of the most promising industries.
We, at B.S. Anangpuria Institute of Pharmacy, positioned among the best pharmacy colleges in Haryana, offer world-class industry-centric pharmaceutical education to ensure that our students not only get enriched with strong theoretical know-how but also grow practically sound. We have roped in a highly experienced pool of faculty to provide our students with unparalleled guidance and practical exposure to help open them up to new horizons. Our aim is to help our pupils embark on the exciting voyage of pharmaceutical studies and have an established career in the same, and it is a matter of great pride for us that we have been successfully doing that ever since our inception.