EXAMINING MACRO-ENVIRONMETAL FACTORS OF PHARMACEUTICAL INDUSTRY


Dr. Archana Sarkar
Assistant Professor, Indukaka Ipcowala Institute of Management, Charotar University of Science and Technology, Gujarat
Abstract
The pharmaceutical sector is expected to change as a result of a number of factors, including technological advancements, new laws, rising drug production costs, and new consumer demands. The organisation that establishes the comprehensive framework on the performance of the pharmaceutical industries, dictating all aspects of the behaviour of the market actors, is indirectly influenced by macro-environmental elements such as Political, Economic, Social, Technological, Legal, and Environmental factors. In order to have a competitive advantage over other market participants, the purpose of this research is to comprehend the macroeconomic reasons responsible for the business model revolution. To provide a comprehensive picture of the current market environment internationally and in the context of India, the studys existing literature on macroeconomic factors influencing the pharmaceutical landscape has been studied.
Keywords: Pharmaceutical Industry, Macro-Environment Element, Competitive Advantage
Journal Name :
EPRA International Journal of Multidisciplinary Research (IJMR)

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Published on : 2023-01-14

Vol : 9
Issue : 1
Month : January
Year : 2023
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