Panchkula, Haryana, India:
The Indian Pharmaceutical Industry, which is the 3rd largest by volume worldwide, is now gaining its flow back. The pharma sector has faced tough challenges in the past two years due to COVID & high dependency on imports of API’s & other important raw ingredients. Despite all the disruption, in FY22 the Indian Pharmaceutical industry recorded a growth of 9-11 per cent, which was mostly driven by a push from the emerging domestic market.
KPMG reported a forecast of 12-14 per cent growth in the domestic Pharma market in between 2022 to 2025. When we talk about the Indian Domestic Pharmaceutical Industry, the contribution of a large section of PCD Pharma Franchise Players cannot be ignored. Indian Pharma sized approx. $45 billion in FY21. The pharmaceutical industry in India offers 60,000 generic brands across 60 therapeutic categories.
Pharma Franchise is a huge business industry & offers entrepreneurship opportunities to Dynamic Pharma Professionals, Stockists, and Distributors. Pharma franchise is no longer a new concept in the market; some big players also opted for this marketing strategy to reach the target audience faster yet in a cost-effective manner. Professionals working as PCD franchises hold a good share in the revenue of the company.
PCD (Propaganda Cum Distribution)
PCD and Pharma Franchise both work in the same process where a Pharma individual gets the marketing and distribution rights from a PCD Pharma company and the company provides products, brand name, and support to its franchise partner.
To find more about pharmaceutical companies which are involved in the PCD Pharma Franchise & Third Party Manufacturing business at PharmaFlair, visit: https://www.pharmaflair.in
Pharmaceutical companies are seeking stability after the disruption of COVID-19 and lockdown. The domestic pharmaceutical market has witnessed growth but there have been calls for a more robust domestic industry. The pandemic has compelled the pharma and healthcare sectors to revisit their strategy. The pharmaceutical industry is one of the strictest and most regulated markets. So, the policies have a big role in providing ease of doing business in the environment to achieve the goal of building & developing in India.
As per the Industry reports and experts, potential PCD Pharma Businesses will see various strategic majors grow between 2022-25. The following points are supposed to be at the top of the list in making strategic changes within the organisation to grow exponentially in the next three years & reach a market size of over $60 billion.
Talent & Skills Orientation
There is a need & huge demand for quality products. The Indian pharma sector is required to build a talent base in the industry to move up the value chain. Millennials, apart from their paycheque paycheques, majorly consider their share in the vision of the company they work for. The flow of ambitious corporate escapers will rise to find relevant business opportunities.
Policies & Regulatory System
Systems can quicken the drug discovery process. We need enhanced Budgetary Policies & ease of doing business for private sector companies. The government is also aiming to increase healthcare spending through schemes like Ayushman Bharat. The Indian Government has increased the pharmacy budget from 1.8 to 2.5% of the GDP in FY22.
Leverage the opportunity to launch new drugs
The patent cliff is expected to continue in 2022 as more drugs lose patent protection. Most of the successful local pharmaceutical companies have been really good at picking up immediately patented expired drugs. This gives a competitive edge to the PCD Pharma Franchise, putting the drug first in the market. Pharma companies are definitely going to leverage this opportunity to grow their product range & grab the new market.
Enhance Certified Manufacturing Capacity
Indian PCD Pharma Companies are now planning to open their own certified Manufacturing Units to avoid any barrier in the supply chain. The other reason is to remove the dependency on third party vendors. The flow of applications to open manufacturing units is increasing. Along with Baddi (HP), Gujarat 300+ units will be setup by next year.
The Indian Pharma Industry has started to take online marketing seriously and has caught up in their online visibility. Along with the right advertisement, it is important to back it up with good marketing strategies and plans. Pharma companies are about to raise their online marketing spending by 1-3% of their revenue.
Diversification & Micro Marketing
Players depending majorly on the local market and the generics business (areas like antibiotics, Analgesics, etc.) will have to diversify in order to survive in the future. The Indian market is already competitive. The demand for specialized quality medicine is rising by 9 to 15 per cent Y to Y. Foreign MNCs are focusing on Micro-marketing to add competition by launching products in Gynaecology, Neuropsychiatry, Gastroenteritis, Diabetes & Cardiac Medicine PCD Franchise segments, both branded generics and generics categories.
The next three years are going to be crucial but with a lot of opportunities for Indian Pharma to expand, start up, Invest & Grow. Pharma Franchise is a flourishing business & going to touch new heights in upcoming years. Building a strong distribution network & a working culture are the biggest necessities for PCD and Pharma franchise businesses.
PharmaFlair is an organically growing India’s B2B Pharmaceuticals Marketplace. We connect verified buyers and certified sellers at PharmaFlair for Pharma, Healthcare, Medical, & Surgical Products. PharmaFlair provides a stop solution for importers, exporters, manufacturers, traders, service providers, distributors, wholesalers, and governmental agencies to promote and find Pharma business opportunities online. PharmaFlair Co-Founder Mr. Deepak Bhardwaj said as per the recent business growth trends, they are expecting growth of 2000+ Suppliers with 500+ Premium Subscriptions by the next three years. PharmaFlair’s vision is to become India’s first & largest B2B E-Marketplace for Pharma, Healthcare, Medical & Surgical products, wholesale licensed trading, and third party manufacturing, franchise & business opportunities.