Pharmaceuticals and Healthcare

The World Health Organization states pharmaceuticals represented a US $300 billion-a-year market globally as of 2015. The global pharmaceutical market is expected to surpass the US $400 billion by 2018, with the ten largest pharmaceutical companies altogether commanding about a third of the market. Companies in the pharmaceutical industry are symbolized by their sizeable expenditure on Research and Development and marketing initiatives in a bid to collect more revenue. The development of biopharmaceuticals serves a breakthrough for the industry and personalized therapies carry extremely large promise in the near future. Although mature markets continue to account for over half of all global revenue of the pharmaceutical industry, both large and alcove pharmaceutical companies are now waking up to the profitable potential that lies in growth markets.

The healthcare industry deals with the storage, exchange and management of healthcare records between laboratories, insurance agencies, hospitals, patients, and government bodies. The healthcare industry has seen aggressive growth over the last few years. New advances in the information technology domain, connected with the changing demands of patients and healthcare institutions, are combining to shape the future of the global healthcare information technology industry. Many countries are already taking the initiative in implementing extensive Electronic Health Records (EHRs) and as this trend spreads to more countries, several new areas will continue to emerge in the healthcare industry.