Changes in the macro-environment factors can have a direct impact on not only the Novartis AG but also can impact other players in the Drug Manufacturers - Major.
This is the most important business sector, which needs special care, as the medicines are used to treat the patients and bring them back to life. It helps developing, producing and marketing the approved medicines and drugs. The companies have to abide by different laws and regulations, which are made for the protection of the patients and use them in good manner.
Thousands of people want to do this business and they consider it most profitable business but they do not become successful because of their lack of skills in PESTEL analysis.
If a correct PEST analysis is carried out then it can help to understand the environment to carry on this business Academic Sample Papers, Political Factors To control the manufacturing of medicines and drugs, the governments make the rules and regulations and they companies have to follow them.
The governments make their drug regulatory authorities, which supervise and implements the necessary regulations of drug control and they also regulate the operation of export and import of medicines and drugs, production and export of finished drugs, their sales and pricing Mohammad Nayeem, Robaka Shamsher, The governments have to focus on the political pressure on the pharmaceutical industry and want to make them safe for the use of patients.
The provision of medicines and their effective use and availability to the patients are the primary concerns of any government. When government start taking action or make the regulation, they should mention what sort of pressure is there, which insist them to take such action to control the medicine.
They should also ensure the provision of all types of medicines to all of the people as the expensive medicines are not provided in the general hospitals for the treatment of common people.
It is primary duty of any government to take care of the health of its citizens and provides necessary medical treatment, access to specialists and use of latest and modern technology for the diagnosis of the diseases Alan Shaw, Economical factors The economic situation in the country affects the pace and development of this industry.
If there is economic crisis in the country, then the spending on healthcare per capita is increased. The consistent increase in homecare shows that nursing services shift their working to private sector.
The countries, which use health insurance models to make the part payment, they are affected by reduction in consumer disposable income. When the strategic buying groups look the economic pressures, they force to cut down the prices of the medicines Alan Shaw, The economic conditions of most of the countries across the world are not good and they are facing economic recession, which is appeared after a long time.
The countries are getting support from other countries, whose economy is strong so that they can manage their business well and they can face the economic disaster effectively. They stopped funding in small and less important projects and now they are focusing only on the big and most important projects to save the money and continue economic growth within the country.
Most of the less developed countries stopped buying the expensive medicines but it has bad impact on the health conditions and average life span of the people, which is decreasing drastically Mohammad Nayeem, Robaka Shamsher, Social Factors There are different social and cultural factors, including poverty, malnutrition, obesity and expansion of diabetes are the growing concerns for this pharmaceutical industry.
These unhygienic health conditions are affecting the eruption of the diseases like malaria, tuberculosis and other preventable diseases.
This industry is also facing other issues like poor sanitation, drinking, smoking, and poor oral hygiene create serious threats to the industry Academic Sample Papers, Now people are well informed about healthcare activities and they are concerned with different health issues and increase in the aging population is creating various threats to the industry and they need to solve their issues before becoming them worse.
They need to focus on the research and development sector to find the proper solutions of their health concerns Alan Shaw, Technological Factors Most of the pharmaceutical countries are using the advanced technologies in manufacturing of medicines and drugs. The use of IT technology in the preparation of the drugs is becoming most important and they carry out different research and development work and it has help the industry for improvement of medicines Academic Sample Papers, PESTEL Analysis of Pharmaceutical Industry.
by adamkasi | Apr 24, they consider it most profitable business but they do not become successful because of their lack of skills in PESTEL analysis.
If a correct PEST analysis is carried out then it can help to understand the environment to carry on this business (Academic Sample Papers.
Keywords: novartis swot, novartis pest, novartis analysis Jump to: Core Competences of Novartis | SWOT of Novartis | PEST Analysis of Novartis | Porter's 5 Forces of Novartis | Recommendations for Novartis About the Report.
The foremost aim of this report is to study a global healthcare leader, Novartis International AG in the aspect of being a multinational pharmaceutical company that attains.
The following PEST analysis shows how political-legal, economic, socio-cultural and technological forces affect Novartis in terms of business and development of the company and what are some of the Novartis approaches to tackle these forces.
MODEL OF FIVE FORCES OF PORTER (STRUCTURAL ANALYSIS OF INDUSTRY) According to the theory of Porter. 1. 2. each separately and in relation to the pharmaceutical industry. Persistence of pharmaceutical companies to make'' gifts'' to doctors for prescribing their products. as this expenditure is mainly covered by social insurance.
3. 5. PESTEL Analysis of Pharmaceutical Industry by adamkasi | Apr 24, | Industries | 0 comments Pharmaceutical Industry deals with the manufacturing of medicines, which are used for the treatment of infection and diseases across the world.
Find the latest and comprehensive SWOT & PESTLE Analysis of Novartis International, a Swiss multinational pharmaceutical company.