Emerging markets have heated up for every industry, but the world's biggest pharmaceutical players have approached the challenges of capturing these promising markets in unique ways. Generic competition spawned by loose legal frameworks and a lack of solid middle-class wealth has hampered big pharma's push into some of the world's top developing economies, but the industry's top companies can't afford to miss out on this hundred-billion dollar opportunity in the making.

Sales around the pharmaceutical industry have been falling because of patent losses, and untapped emerging markets represent one last low-hanging frontier for the sector. Can big pharma take advantage of the world's fast-growing developing nations -- and are China, India, and other emerging economies even ready for the industry's entrance? Motley Fool contributor Dan Carroll and health care analyst Max Macaluso discuss below what you need to know about big pharma's battle to win the emerging markets.

Fool contributor Dan Carroll has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.