PESTEL Analysis of Pharmaceutical Industry
The management of a company uses PESTEL analysis to weigh the factors that can hinder or promote the industry's growth. From this PESTEL analysis of the pharmaceutical industry, it can identify how political, economic, socio-cultural, technological, ecological, and legal issues can impact the conditions of the pharmaceutical industry. The PESTEL analysis pharmaceutical industry shows that the pharma industry has ample scope for expansion in the future. Some essential drugs may capture the market for a long time. At the same time, the government guidelines to cut off the price may impact the growth of the pharmaceutical industry to some extent.
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