As per https://www.statista.com/ Pharmaceutical market is about 1.42 trillion U.S. dollars The global pharmaceutical market has experienced significant growth in recent years. As of end-2021, the total global pharmaceutical market was valued at about 1.42 trillion U.S. dollars. With an average spend of 1,229 U.S. dollars per person, the United States had the highest pharmaceutical spending per capita worldwide in 2019. Globally, the United States has emerged as the leading market for pharmaceuticals, followed by the group of emerging markets. Emerging markets can include middle and low-income countries such as Brazil, India, Russia, Colombia and Egypt, to name a few.
In India, the pharmaceutical industry is one of the most regulated industry. Pharmaceutical Industry is regulated through Drug and Cosmetic Act & Rules. The Drugs and Cosmetics Act & rules regulates the import, manufacture, distribution and sale of drugs in India along with other regulations 7 act like Drugs (Price Control) Order, The pharmacy act, 1948, The Drugs and Magic Remedies (Objectionable Advertisement) Act, 1954, The Narcotic Drugs and Psychotropic Substances Act, 1985 etc.
These regulations is implemented through licensing system. For conducting any type of business in pharmaceutical i.e. import, manufacture, distribution, retail, dispense, sale etc, there is requirement of particular license and registration.
These regulations is implemented through licensing system. For conducting any type of business in pharmaceutical i.e. import, manufacture, distribution, retail, dispense, sale etc, there is requirement of particular license and registration.
Drug license helps the government monitor and regulate the import, export, manufacture, distribution and sale of medicines in India, making your business credible and trustworthy.
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