Future of Pharmacy Business in India
India has shown significant growth in the last few decades. It is one of the strongest economies in the world today.
Though every sector has performed well, industries such as pharmacy have grown remarkably well.
Not only entrepreneurs but people aspiring for making a bright career in pharmacy also find it lucrative.
Experts say that in the coming years, pharmacy business will become more profitable. Hence, it is a wise thing to start early.
As far as various business prospects are concerned, one can excel in the niche by working sincerely. Here are a few areas that show a promising future.
Research and development
Research and development or R&D are the core of pharma business. According to the business analysts, there will be a high demand for qualified pharmacists.
Resources that possess higher degrees such as M. Pharma or Ph.D. will get priority.
- Research on new drugs
- Process development
- Clinical trials
- Toxicological studies
- Formulation and development
Analysis and testing
Analysis and testing go together. For this pharma companies require highly skilled people. They can take care of analytical work and sophisticated equipment.
Quality Control or QC, and Quality Assurance or QA are areas where a lot of job opportunities will generate in the coming times.
These job profiles are important in a pharma business, and highly respectable and rewarding as well.
As the demand for medicines increases, new industries are coming up. To manage production and operation in these industries, entrepreneurs need qualified people.
In a production industry, various skills are required. Starting from production to operation, and maintenance to quality control; the need for human resources is everywhere.
Sales and marketing
It is not enough to manufacture pharmaceutical products in manufacturing units. It is equally important to take them to the customers.
Sales and marketing teams play a vital role in it. They explore the markets and find out areas with high business potential.
People who have a good caliber of convincing others can make a bright career in sales and marketing of pharmaceutical products.
Career in hospitals
The pharmacists work in hospitals are people who know better about the drugs prescribed there Though it is a more familiar thing in the western countries, in India also hospitals are appointing qualified pharmacists nowadays.
Since it is a flourishing niche, it is a wise decision to launch pharmacy business today. The earlier a business is launched, the more profitable it will be.