Macro environmental factors involved in pharma industry

MACRO ENIVIRONMENTAL FACTORS IN PHARMA INDUSTRY

Principles of Marketing

Subject Undertaken By – Prof. Kishore Babu Sir

Presentation By – Sk. Md. Irrfan

Ist Year , Synergy School Of Business

DEFINING AN INDUSTRY

• Industry• A group of companies offering products or services that are

close substitutes for each other and that satisfy the same basic customer needs

• Industry boundaries may change as customer needs evolve and technology changes

• Sector• A group of closely related industries (drug industry (health- sector ))

• Market Segments• Distinct groups of customers within an industry• Can be differentiated from each other with distinct attributes

and specific demands (Bulk and generic drug companies)

MACRO ENVIRONAMENTAL FACTORS

POLITICALECONOMICSOCIO-CULTURALTECHNOLOGICALENVIRONMENTALLEGAL

ALSO DEMOGRAPHIC FACTORS PLAY A MAJOR ROLE

The pharmaceutical industry in India is among the most highly organized sectors.

Due to the presence of low cost manufacturing facilities, educated and skilled manpower and cheap labor force among others, the industry is set to scale new heights in the fields of production, development, manufacturing and research

Indian Pharmaceutical

Industry

DEMOGRAPHIC FACTOR

Considering a major factor in pharma industry, this factor plays a major role.

Based on age, gender, the drugs are differenciated.

** Socio-cultural does not plays any role in this industry, because of the reason that each and every person has to buy the same drug.

POLITICAL FACTOR

Though political factor also plays a role in pharma sector.

In India, the ministry of health holds the decision

** Free medicines to poor

** Free medcines to pregnant women

** Economic factor does play a minor role among the factors.

LEGAL FACTORS AND TECNOLOGICAL FACTOR

Registration of companies by government of india according to rules and regulations.

working of labour , health and safety concerns, drugs and cosmetic act.

IPR , Narcotic Act.

Where pharmaceutics have been shown to cause side-effects, civil action has occurred, especially in countries where tort payouts are likely to be large. The top 20 pharmaceutical cases account for over $16 billion in recoveries. Due to high-profile cases leading to large compensations, most pharmaceutical companies endorse tort reform. Recent controversies have involved Vioxx andSSRI antidepressants.

Tecnological factor : micro encapsulation, pill cam etc.,

CONCLUSION

• Factors play a major role in understanding the environment and its working.

• A complete overview from time to time will help in incur of more profits and growth.