With the advancement in lifestyle, fast life, and more stress as compared to the earlier times; ailments have also penetrated deep in the lives of individuals. But seeing on the other side the development in the pharma companies and their role towards the society has also taken a positive shape. The role of pharma companies in increasing the life expectancy of individuals is commendable.
In countries like India, the pharma companies play a vital role in helping the economy develop, and flourish. The following are the roles played by the Indian pharma companies:
- Setting up an internationally recognized center to conduct research and development activities in the field of science and drugs.
- Contributing to the national income and helping the ancillary companies also flourish side by side.
- Attracting foreign investors, and also tapping new markets all over the world.
- Indulging in complex drug development by using the latest technology, and machine.
All these have led to the Indian pharma industry becoming one of the top industries around the sphere; according to a survey, the Indian pharma industry stands 3rd in the world. And also, many big pharma names have started outsourcing their manufacturing and research activities to these Indian pharma companies. The life expectancy in India is on an average 69.4 years, which has improved in the past years, and all the credit goes to the tremendous growth which the Indian Pharma industry has done.
With further development, the role of the Indian Pharma companies in the near future will become more critical and revolutionary when it will come to combating deadly diseases like HIV AIDS, Cancer, and many more. The government has also supported the pharma industry in many ways and is continuously striving to make the Indian Pharma company the best in the world.