Clinical trials: Carefully conducted clinical trials are performed on healthy volunteers to determine if a treatment works, is safe, and is more effective than an existing treatment.Development is when these findings are used to produce the drug, which is then tested in clinical trials. Research and Development (R&D): Research is the scientific investigative undertaking that results in the discovery of a new drug.Modern pharmaceutical manufacturers use scientific knowledge and research to develop preventative drugs like vaccines, curative drugs like antibiotics and chronic care medicine for conditions like heart disease or diabetes.Ī drug, also called a medication, goes through a long lifecycle before it gets on the market. It’s a healthcare sector dedicated to discovering, developing, manufacturing, and marketing drugs in order to prevent, treat, or cure disease. Pharmacies have been around for centuries, yet the definition of pharmaceuticals hasn’t really changed. The moment he gets his medication, he enters the world of pharma. One day, he gets tangled in the leashes as they chase a squirrel across the street. Let’s see where pharma can help our friend, Alvin, a dog walker who walks several dogs at a time. Here, we decipher the sometimes messy handwriting on the prescription pad and learn about the pharmaceutical-or pharma-sector. Pharmaceutical companies are one of the five healthcare industry sectors:įor an overview of the primary aims, trends, and sectors in healthcare, review the Healthcare and Life Sciences Industry: Quick Look in Trailhead. Life sciences focus on research and manufacturing of drugs and devices used to provide healthcare. Pharmaceutical manufacturers belong to a sector of the healthcare industry known as life sciences. But even if you rely on your corner grocer to stock a pain reliever, you still benefit from the pharmaceutical industry. If you’re lucky, you might find a 24-hour pharmacy open when you need medicine to reduce your raging fever at 2 a.m. Keep in mind that healthcare experiences around the world may differ vastly. The healthcare industry information we share in this module applies mainly to the United States.
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