SIC 2834 - Pharmaceutical Preparations
Establishments primarily engaged in manufacturing, fabricating, or processing drugs in pharmaceutical preparations for human or veterinary use. The greater part of the products of these establishments are finished in the form intended for final consumption, such as ampoules, tablets, capsules, vials, ointments, medicinal powders, solutions, and suspensions. Products of this industry consist of two important lines, namely: (1) pharmaceutical preparations promoted primarily to the dental, medical, or veterinary professions, and (2) pharmaceutical preparations promoted primarily to the public.
Industry trends:
The pharmaceutical preparations industry (NAICS 2834) has been experiencing significant qualitative trends driven by technological advancements and shifting market dynamics. One prominent trend is the increasing focus on personalized medicine. Companies are investing in genomics and biotechnology to develop treatments tailored to individual genetic profiles, improving efficacy and reducing side effects. This trend is likely to continue as technologies such as CRISPR and advanced sequencing become more mainstream.
Another noteworthy trend is the rise of digital health solutions. Pharmaceutical companies are integrating digital tools such as telemedicine, wearable devices, and AI-driven diagnostics into their offerings. This integration aims to provide holistic care and improve patient outcomes while streamlining the drug development process.
There is also a growing emphasis on sustainability and environmentally friendly practices within the industry. Firms are adopting green chemistry principles and sustainable manufacturing processes to reduce their environmental footprint. This shift is partly driven by regulatory pressure and partly by increasing consumer demand for eco-friendly products.
Looking ahead, the industry is likely to see continued collaboration between pharmaceutical companies and tech firms, fostering innovations in drug discovery and patient management. Additionally, the global push for healthcare equity will spur increased access to medications in developing countries, potentially opening up new markets. Despite economic uncertainties, the pharmaceutical preparations sector is expected to maintain robust growth driven by these transformative trends in the near future.
This industry is comprised of:
Adrenal pharmaceutical preparations
Analgesics
Anesthetics, packaged
Antacids
Anthelmintics
Antibiotics, packaged
Antihistamine preparations
Antipyretics
Antiseptics, medicinal
Astringents, medicinal
Barbituric acid pharmaceutical preparations
Belladonna pharmaceutical preparations
Botanical extracts: powdered, pilular, solid, and fluid, except
Chlorination tablets and kits (water purification)
Cold remedies
Cough medicines
Cyclopropane for anesthetic use (U.S.P. par N.F.), packaged
Dermatological preparations
Dextrose and sodium chloride injection, mixed
Dextrose injection
Digitalis pharmaceutical preparations
Diuretics
Effervescent salts
Emulsifiers, fluorescent inspection
Emulsions, pharmaceutical
Fever remedies
Galenical preparations
Hormone preparations, except diagnostics
Insulin preparations
Intravenous solutions
Iodine, tincture of
Laxatives
Liniments
Lip balms
Lozenges, pharmaceutical
Medicines, capsuled or ampuled
Nitrofuran preparations
Ointments
Parenteral solutions
Penicillin preparations
Pharmaceuticals
Pills, pharmaceutical
Pituitary gland pharmaceutical preparations
Poultry and animal remedies
Powders, pharmaceutical
Procaine pharmaceutical preparations
Proprietary drug products
Remedies, human and animal
Sodium chloride solution for injection, U.S.P.
Sodium salicylate tablets
Solutions, pharmaceutical
Spirits, pharmaceutical
Suppositories
Syrups, pharmaceutical
Tablets, pharmaceutical
Thyroid preparations
Tinctures, pharmaceutical
Tranquilizers and mental drug preparations
Vermifuges
Veterinary pharmaceutical preparations
Vitamin preparations
Water decontamination or purification tablets
Water, sterile: for injections
Zinc ointment
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