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Describe the driving forces of the pharmaceutical industry.

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Describe the driving forces of the pharmaceutical industry.

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Solution Summary

The solution discusses the pharmaceutical industry by the following subjects: customer preferences, interferences, technology, regulations, and increased competition.

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The pharmaceutical industry operates in a powerful business atmosphere in which it is greatly influenced by its changing environment. As the environment around pharmaceuticals undergoes rapid changes, the industry is under constant scrutiny to develop and shape into the mold of its new atmosphere. Many of the driving forces, of change, include the changing roles and preferences of customers, higher drug regulations, and interferences or increased competition in the drug industry.

Customer Preferences

Pharmaceutical customers are no longer looking for drugs and remedies in which merely diagnose and cure diseases; instead, they are looking for drugs and remedies that predict possible illnesses/ diseases and prevent the illnesses/ diseases from ever becoming an issue. People are also no longer looking for the best answer to the general problem, but rather for the best-customized answer to their aches, pains, and illnesses/ diseases.

In addition, as customers rapidly become ...

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