Pharmaceutical Industry Around the World

A large business growing within the entire world nowadays is the pharmaceutical industry business. This particular industry started growing in the decade of the 1970s when it began to expand at a greater rate. In 1978 India took over as the primary center of pharmaceutical production without patent protection. Then, the pharmaceutical industry began to expand in the European countries at an accelerated rhythm, developing new headquarters in countries like Ireland, Germany and Switzerland.

The market made a dramatic change in the 1990s, partly because of a new consumerism. The Internet made possible the direct purchase of medicines by medical drug consumers and of raw materials by drug producers, by the creation of the online pharmacy websites. The United States is now consolidated as the country with the largest pharmaceutical industry, being the house of big companies like Johnson & Johnson, Pfizer, Baxter International and Abbott Laboratories.

There are 2 different main kinds of drugs produced by these companies, the brand products and the generic products. The brand products are mainly produced in the countries with the biggest pharmaceutical companies like USA with the headquarters of Pfizer (famous for the production of the brand Viagra) and Germany with Bayer Healthcare (well known for the aspirin pills).

In contrast with this, the not so recent emerge of companies producing generic drugs are taking the countries of Asia and south Asia as their chosen destination like Japan and India, being an extremely profitable business as the generic drugs are having a great demand as they are considerably cheaper than the brand drugs and they have the same effect. Some other countries are following their steps in the development and research of new drugs.

With the help of investors interested on entering this growing pharmaceutical industry market, new doors will be open to countries all over the world that will expand this market, providing affordable medicines for everybody and being a great profitable business for new investors and large companies.