The Pharmaceutical industry is a complex adaptive system whose past is explained and future is predicted on evolutionary science. Given its traditional resourcefulness and determination, it is beyond doubt that Asia is a key driving force of the current global pharmaceutical industry. In recent years, healthcare demands among the region’s populations have increased and its low operating costs continue to attract pharmaceutical companies. It is emerging as a powerhouse of pharmaceutical Research & Development facilitated by the availability of a vast patient population, quality data, lower costs and skilled manpower.
Thanks to the advances in science and technology, the research based pharmaceutical industry is entering an exciting new phase in medicines development. Research methods are evolving and we have many promising prospects on the horizon – from the possibilities offered by personalized medicines, to the potential offered by harnessing the power of big data. The innovative pharmaceutical industry is driven by, and drives, medical progress. It aims to turn fundamental research into innovative treatments that are widely available and accessible to patients.
Already, the industry has contributed to significant improvements in patient well-being. Today’s European citizens can expect to live up to 30 years longer than they did a century ago. Some major steps in biopharmaceutical research, complimented by many smaller steps, have allowed for reductions in mortality, for instance from HIV/AIDS-related causes and a number of cancers. High blood pressure and cardiovascular disease can be controlled with antihypertensive and cholesterol-lowering medicines; knee or hip replacements prevent patients from immobility; and some cancers can be controlled – or even cured – with the help of new targeted treatments. European citizens can expect not only to live longer, but to live better quality lives. Yet major hurdles remain, including Alzheimer’s, Multiple Sclerosis, many cancers, and orphan diseases.
As well as driving medical progress by researching, developing and brining new medicines that improve health and quality of life for patients around the world, the research based pharmaceutical industry is a key asset to any economy. The research based pharmaceutical industry can play a significant role in restoring the economy to growth and ensuring sustaining competitiveness in an advancing economy. There is a rapid growth in the market and research environment in emerging economies such as Brazil, China, India and South Korea.
All new medicines introduced into the market are the result of lengthy, costly and risky research and development conducted by pharmaceutical companies. By the time a product reaches the market, an average of 12-13 years will have elapsed since the first synthesis of the new active substance.
The pharmaceutical industry is one of the fastest growing industries in an economy and one of the largest job providers in an economy. Recent studies in some countries showed that the research-based pharmaceutical industry generates three to four times more employment indirectly through upstream and downstream than it does directly.
The global pharmaceutical industry revenue is forecasted to reach an estimated $1,226.0 billion by 2018, with good growth over the next five years (2013-2018). The industry is expected to register growth led by aging population, changing lifestyles, hectic daily activities, unhealthy eating habits, increasing incidence of chronic diseases across the entire global population providing growth opportunities for the industry players. The industry is engaged in discovery, development, manufacture, and marketing of prescription drugs. Industry products include ethical drugs and consumer healthcare but animal healthcare drugs are not included.
The global pharmaceutical market faces major challenge from increasing investment and strict regulation. Changing lifestyles and the fast socio-demographic shift due to urbanization in both developed and growth markets globally are expected drive the demand. The ability to create new technology and innovative drugs is a key driver for success in this market.
Whistler International has entered into strategic joint venture with Celltrion and Ilyang Pharmaceuticals. The joint venture enables us to fulfill our slogan “Advanced therapeutics within everyone’s reach. Whistler International together with Ilyang and Celltrion is expanding its distribution activities in Middle East and Asian countries. With a wide portfolio of products, we are able to cater a large society through our well established network.