Establishment of new Pharmacy college
Establishment of new Pharmacy college (B-pharma and D-pharma)
Pharm is the best course for you after 12th. Bachelor of Pharmacy (B. Pharm) is an undergraduate degree course in the field of Pharmacy education. The students those are interested in the medical field (except to become a doctor) can choose this course after the completion of class 12th.
A Doctor of Pharmacy (Pharm. D New Latin Pharmacies Doctor) is a professional doctorate in pharmacy. In some countries, it is a first professional degree, and a prerequisite for licensing to practice the profession of pharmacy or to become a Clinical pharmacist.
There are various career options available for the science students after the completion of B. Pharm degree. The students can go for higher studies in the Pharmacy Master of Pharmacy (M. Pharm). This field is one of the evergreen fields in the medical sector, with the increasing demand of Pharma professional every year.
Market Outlook
The Pharmaceutical industry in India is the world’s third-largest in terms of volume and stands 14th in terms of value. In terms of the global market, India currently holds a modest 1-2% share, but it has been growing at approximately 14% per year during the last four year. India gained its foothold on the global scene with its innovatively engineered generic drugs and active pharmaceutical ingredients (API), and it is now seeking to become a major player in outsourced clinical research as well as contract manufacturing. India also has a vast pool of trained pharmaceutical scientists, doctors and researchers, which opens up avenues for joint collaborative research for new drug discoveries along with joint intellectual property rights.
The Indian Pharma industry has been able to claim a share in the global market by leveraging its strengths and enhancing its regulatory and technical maturity. Formulations manufactured in India constitute 20 per cent of the global generics market by value, and the overall share of Indian manufactured formulations is as high as 46 per cent in the generics segment in the emerging markets.
Pharmacy freshers are employed in marketing of pharmaceutical products and medical devices as Medical Representatives (MR) Career growth in marketing depends on the networking ability, knowledge and communication skills. Initially marketing require more physical work due to travel, but as you progress workload may reduce with promotion,
The pharmaceutical industry is recession-proof and as the population of the aged increases, the demand for new generation drugs and formulations will continue to expand. The export market also offers cost-effective Indian drug manufacturers the best prospect for rapid expansion and higher profits. Therefore, the employment prospects of pharmacy professionals are good.
It is estimated that India accounts for 5 percent of the world’s market for pharmaceuticals, with an estimated value of about $33 billion (Rs.231, 000 crore). The country ranks third in terms of total pharmaceutical production and 13th in terms of value of production. It is growing at an average of 15 percent annually and the market is expected to grow to $40 billion by 2020 which means fantastic career opportunities for pharmacy graduates.
Pharmacology is a rapidly growing, highly organized profession in which the role of the pharmacist has gained considerable importance with rapid advances and breakthroughs in the global pharmaceutical industry. In the next few years there is a distinct possibility of Indian pharmaceutical firms (Lupin, Cadila, Dr. Reddy’s Labs, Wockhard, Cipla etc.) embarking on a recruitment spree of pharma professionals to manage their expanding worldwide businesses.
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