PLIGHTS AND PREDICAMENTS IN THE PHARMACY INDUSTRY

We provide an insight to the troubles in the field of pharmacy. Using the published literature to date, we review the impact of various challenges in the field of Pharmacy. The pharmaceutical industry has succumbed to the challenges presented by the consumer, other healthcare fields, policies, emergence of telemedicine, sunken research inputs, low drug approval, diminished new drug release in the market, demolishing new drug acceptance and utility. These factors have provided considerable damage to the pharmaceutical industry which can be explicated by the languishing market growth. The consumer aimed advertising meant for profit has the patients educated about branded drugs and also has mislead them to drug abuse. The misled and educated patients have deteriorated the market of generic drugs. The conflict in the marketing of NMEs, Biologics and Biosimilars creates yet another hurdle. The growth of approval of new drugs compared to the year 2016 was just 3% this year. The non-revising policies do not tend to improve the profit of the drug manufacturers but favour the economy of the consumer alone. The industry is spiralling and requires stabilization. We conclude by suggestions by newer reformed policies, better innovations, clear sources of information, thorough pharmacovigilance and well counselled consumers