Pharmaceutical Industry Chemical Synthesis Essay

Pharmaceutical Industry: Chemical Synthesis Production of Acetylsalicylic Acid I. Introduction Pharmaceutical industry is one of the biggest industry in the world as it involves drugs and medications - something that is very stable in terms of demand. This can be proven by the amount of sales as of 2012. Figure 1.1 shows the breakdown of the market of the pharmaceutical industry worldwide. However, aside from the production and synthesis of drugs and medications, the industry is also involved in the research and further development of drugs and medications. Because of the effect of the products of the industry to its market, the industry is subjected to a lot of laws and regulations. These laws and regulations must be met before their products are sold in the market. Figure 1.1 Pharmaceutical Industry Sales as of 2012 Research and development, which constitutes particular phases, in the pharmaceutical industry could either be working towards improvement of existing medicine or creating new drugs for better treatment of diseases. With the help of advances in life sciences such as genomics, molecular biology, and the like, diagnosis of certain diseases are more precise leading to less likely failure of the development of the treatment (Riboud, 2014). In addition, technological breakthroughs such as new tools, smartphones, and information services in recent years have vastly assisted in the analysis of the efficiency of these therapeutical treatments. However, theseShow MoreRelatedA Diverse And Sustainable Compound Library For Aid Drug Development And Sales1185 Words   |  5 Pagesmore depth within the body of the profile. Pharmaceutical companies need robust and high quality compound libraries to develop and market new prescription drugs. 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