The pharmaceutical industry

swot analysis airasiaThe pharmaceutical industry is a major driving force in the worldwide economy today. Millions are spent every year for health care research and illness prevention. The development of drugs and health products are the main challenges that pharmaceutical companies have to face. GlaxoSmithKline’s (GSK) mission is to improve the quality of human life by enabling people to do more, feel better and live longer.

Its leadership in four major therapeutic areas - anti-infectives, central nervous system (CNS), respiratory and gastro-intestinal/metabolic is highly acknowledged in the pharmaceutical industry today. It is also a leader in the important area of vaccines and has a growing portfolio of oncology products. The company is also a market leader in over-the-counter (OTC) medicines, oral care products and nutritional healthcare drinks. The growing influence of the pharmaceutical companies in the world is evident in the consumption of drugs.

Fifty billion aspirin tablets are consumed worldwide every year. Due also to the increase in life expectancy, the United States economy currently has net gains of an estimated two billion trillion per year. According to the swot analysis airasia and Manufacturers of America, the industry is "one of the largest employers of scientists in the 

swot analysis airasia

— and its success or failure relies heavily on their ability to make breakthroughs. ”  According to IMDiversity.

com, a one-stop career and self-development site devoted to serving the cultural and career-related needs of all minorities, whose one of the employers is the pharmaceutical giant Roche, thousands of new substances are being tested each year but only yield to ten to twenty prescription medicine. Also according to IMDiversity, pharmaceutical and medicine manufacturing ranks among the fastest growing manufacturing industries. Demand for this industry’s products is expected to remain strong.

Even during fluctuating economic conditions, there will be a market for over-the-counter and prescription drugs, including the diagnostics used in hospitals, laboratories, and homes; the vaccines used routinely on infants and children; analgesics and other symptom-easing drugs; and antibiotics and “miracle” drugs for life-threatening diseases. The pharmaceutical industry is one of the most competitive in the world with the industry’s leading pharmaceutical companies compete in research and development in countries like the United States, India, China, Russia and the United Kingdom.