Business Wire India
The past few years have been landmark in terms of pharma market growth. In 2020, the Indian pharmaceutical sector was 3rd largest by volume and 14th by value globally. More than 3,000 pharmaceutical companies and 10,500 manufacturing units are present in the country. The industry is among the top 5 sectors contributing to reducing India’s trade deficit with a trade surplus of ~US$ 11 billion every year. According to Economic Survey 2020-21, the Indian pharma industry is expected to touch US$ 130 Billion by the year 2030.
PCD Pharma Business Market
PCD Pharma / Pharma Franchise is one of the most lucrative businesses in the pharma industry as it requires low investment and thus, involves low risk. The growth of the PCD Pharma Franchise market directly depends on the demand for medicine in the domestic and international markets. India’s improving economic conditions, lifestyle, accessibility to healthcare, and most of all rising population are some of the factors for this growth.
PCD (propaganda cum distribution) is a type of pharmaceutical marketing which provide rights to market/sell and distribute pharmaceutical products. The company which offers PCD pharma franchise provides its products to its franchise partners along with the rights to use its brand name and trademark.
It is a popular business practice in the pharmaceutical industry as it comes with several benefits for partners like monopoly rights and promotional support from the company. PCD pharma is a term used for marketing rights in the smaller area whereas; the pharma franchise covers larger areas and targets.
PharmaHopers Explains Reasons for PCD Pharma Franchise Growth
PharmaHopers (A Product of WebHopers) is a leading B2B marketplace for pharmaceutical products and services connects buyers and sellers from PAN India through a business solution. It has more than 500+ pharma companies. Pharmahopers explain the reasons for PCD pharma franchise growth.
“PCD (Propaganda-cum-distribution) business allows pharma professionals to work independently in their selected region which is rare when it comes to the other jobs in the pharma industry. It also provides the liberty to the investor to work as an independent marketer connected with different companies, not just one.”
It further explains the role of government and digitalization, “Government initiatives for the pharmaceutical industry have also contributed towards the growth of PCD Pharma Franchise business. After digital India, the Pharmaceutical industry has witnessed a huge boost as it has given companies the ability to know the customers’ requirements, get good feedback, track online forums, and data analysis, this has resulted in ease of doing business.”
Here are some other factors which accelerated the growth:
Cost efficiency – India produces high-quality and low-price drugs due to low manufacturing and R&D costs which is great for the growth of the industry.
Policy Support – Finance Minister Ms. Nirmala Sitharaman in June 2021, announced the outlay of Rs. 197,000 crores (US$ 26,578.3 million) for the pharma industry. This was done to provide support over five years for the pharmaceutical PLI scheme in 13 key sectors such as active pharmaceutical ingredients, drug intermediaries, and key starting materials.
Increasing Investment – FDI in the Indian pharmaceutical industry in the last 2 decades has reached US$ 19.41 billion and is expected to grow further in coming years.
Future of Pharma Landscape
Though technology is shaping the future of the pharmaceutical industry, India has a long way to go. In the year 2030, India is expected to reach the size of USD 1-1.3 trillion. With the evolution of E-Pharmacy which is growing at 21.28% every year the needs and requirements of the patient are easy to understand now for pharma companies. Every year more than 25% of the rural population is getting active on the internet this opportunity should be utilized by pharmaceutical companies.
Today India is known as ‘The pharmacy of the world because of its prominent hold over generic medicine and vaccine but to main its position India needs to increase drug value. Through advanced technology, R&D, and data analysis India needs to focus on the manufacturing of high-value pharmaceutical medicine to be ahead of countries like China.
It concludes growth of pharmaceutical industry over the years and how it will continue in the coming years. In explaining the reasons for the PCD pharma franchise business's growth, PharmaHopers considered PCD Pharma’s unique business model as its strength. Along with this, it provides freedom and choice to investors. There is an increasing demand for high-quality and affordable medicine thus, the pharmaceutical industry is driven by growth and new opportunities.
FAQs about PCD Pharma Franchise
Here are some frequently asked questions about the PCD pharma franchise business:
Promotional support offered by a company
Company generally provides promotional tools kits which include items like:
MR bag with logo
Pen with company logo
Qualification to apply for PCD pharma franchise business
Any professional who has experience in the pharmaceutical sector can apply for a PCD pharma franchise from any company.
PCD Pharma Different from Pharma Franchise
Both work in the same way and are the same things. PCD covers the less area while pharma franchise covers the larger marketing area.
Requirements To start Pharma Franchise Business
For starting a PCD Pharma Franchise business there are the following requirements:
Pharma Drug License
The monopoly in the PCD pharma industry refers to when a company offers its products to the market by only an appointed Pharma Franchise Partner in a specified area.
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