There has never been a more exciting time to consider a career in pharmacy. The profession is experiencing a period of unprecedented progress and development. The skills of pharmacists have never been in greater demand and to deliver the latest, cutting-edge treatments and medicines to millions of patients every day.
Pharmacy education has been in an almost constant state of change for the past 150 years, since the era when a pharmacist learned by being an apprentice. Over the years, pharmacy has grown in the form of pharmaceuticals sciences through research and development processes. It is related to products as well as to services. The various drugs discovered and developed are its products and the healthcare it provides comes under the category of services.
Pharmacy involves all the stages that are associated with drugs i.e. discovery, development, action, safety, formulation, use, quality control, packaging, storage, marketing, etc. This profession has a large socio-economic relevance to the Indian economy. In India, this sector is among the future economy drivers. It is committed to deliver high quality drugs and formulations at an affordable price, so that majority of people can afford them. The transformation of the sector from conventional pharmacy to drug experts, which is both desired and necessary to reach the global standards, has already made commendable progress.
Liberalisation, privatisation and globalisation (LPG) have helped the Indian pharmaceutical companies to achieve international recognition. It is remarkable to note that, today several Indian pharma companies are approved by US F.D.A. and are listed at N.A.S.DA.Q. Indian pharmaceutical industry is undergoing fast paced changes. The Indian Generics market is witnessing rapid growth, opening up immense opportunities for firms. The industry ranks fourth globally in terms of volume and thirteenth in terms of value. The quality of the products is reflected in the fact that India has the highest number of manufacturing plants approved by US FDA, which is next to that of US.
The Indian pharmaceutical industry is emerging as a low-cost, high quality option for outsourcing of research, manufacturing and other services, offering a great opportunity for the Indian pharma companies. Further, Innovation and technology are the two factors due to which India is on its way to become the preferred global supplier for drugs and dosage forms and also a hub for contract research and manufacturing, contract research organisations and R&D activities.