With the increasing exercise of the UK the medical industry, the demand of medications and other medical devices has rapidly increased in the UK; and so have the number of pharmaceutical companies. With the UK being one of the financial hubs of the world, the pharmaceutical industry has proven to be a back-bone of the UK economy, contributing the highest percentage to the economy. How, you ask? Surely other industries must be much more significant? Well, as per the economical records of the UK, the pharmaceutical industry is one in which more is invested and which is not a high expenditure industry in ration to other in industries. This enables the pharmaceutical industry to contribute better under the economic conditions of the country.
Pharmaceutical companies in UK hold a good unit of market share in the world. The UK is entitled as one of the biggest selling markets of medications and drugs as commonly prescribed to the patients. Year upon year, the research and development of the UK in the medical sector has been one of the most invested-in sectors, which has resulted in the UK being one of the top countries exporting common pharmaceutical products to different parts of the globe. Being a major part of the European continent.The UK has contributed to a better economic development as a major market share holder within the medical and pharmaceutical industry.
Pharmaceutical companies in the UK have highly regarded safety measure of drugs. In addition to this, pharmaceutical companies in the UK are entitled as one of the top 10 in efficiency. This is because pharmaceutical companies in the country are constantly testing and marketing commonly and widely used drugs in the world, proving the mentioned fact of being a major market share holder in the same industry.
Regarding both the health and economy sectors, the pharmaceutical companies in the UK contribute greatly to the improvement governed in the mentioned sectors. The NHS committee of the UK, which governs the pharmaceutical companies in the UK, provides easier and simpler access of the medication to patients. The NHS committee ensures the value for money for citizens. The benchmark created by pharmaceutical companies in the UK highlights a good investment for the future as well. The life expectancy in the UK has rapidly increased with the easier and smart access of medication and other medical devices to the patients, provided by the pharmaceutical industry. Earlier, the expectancy was unsuccessful, which resulted in a higher percentage of expenses been carried forward in medication sector by the citizens; leading to great volatility in the medical sector. This became a great hazard in the development of the country. The pharmaceutical companies in the UK, aiming to provide easy and affordable access of the drugs to the patients helped in improving the expectancy and resulted in harmonious benefits to the citizens.
With the better production and discovery of medication and drugs by pharmaceutical companies in the UK, the mortality rate from common diseases has been decreased over the past few years. The two most prevalent diseases in the UK (Cancer and heart/surgical diseases) have been a disturbing reality for the citizens of the UK. However, with the better research and development in the pharmaceutical industry, it is a pride in mentioning that the mortality rate of these two major diseases has decreased from 32% to 12 % in both the genders.
The pharmaceutical companies in the UK have been contributing the most to employment rates in the UK. Keeping in mind the changing employment rates in sales departments, the employment data still proves to be stable as the research and development department keep employment (and employees) stable for longer durations of time.
The pharmaceutical companies in the UK, therefore, work for the improvement of each citizen of the country, along with contributing as a major factor of the UK’s successful economy.