Manufacturing technologies and their part to achieve future pharmaceutical sales
Global pharma revenue is expected to reach around $1.1-1.3 trillion dollars in the next few years. Even with increasing global effluence affordability remains an issue. High priced drugs can deliver the revenue but very few can afford them even in mutually subsidized systems.
Demand dictates API manufacturing process and formulation technologies. Pharmaceutical companies have to take the lead through use of best technologies to make drugs affordable to larger population. Unless industry takes the lead billions will be spent by very limited patient base.
Pharma has to internalize technology innovation and wider use of drugs. At current pricing strategies less than 1% of the global population will benefit from new the drugs. Regulatory bodies cannot force change and unless pharma takes the lead it will be stuck in “analysis paralysis’ mode.
As the world becomes more affluent, need for curing lifestyle diseases will increase. Number of patients taking drugs has and will increase. This is evident by increasing pharma sales. Global sales revenue is predicted to be between $1.07 (2020) (1) to $1.3 (2018) (2) trillion dollars in the next few years.
Pharma’s focus has been and is on the money drugs /therapies will generate and profits rather than how many patients can afford the drugs. As the drug needs, due to increasing affluence, increase their sales are still dependent on their price. Significant number of marginal ... ...