PharmaFlair, a Pharma B2B portal, explains how franchised pharmaceutical companies and PCD Pharma plan to grow in 2022-2025
Panchkula, Haryana, India:
The Indian pharmaceutical industry, which is the 3rd in volume in the world, is now regaining its return flow. The pharmaceutical sector has faced difficult challenges over the past two years due to COVID and heavy reliance on imports of APIs and other important raw ingredients. Despite all the turmoil, in FY22 India’s pharma industry grew by 9-11%, which was mainly driven by an emerging domestic market surge.
KPMG has announced a growth forecast of 12-14% in the domestic pharmaceutical market between 2022 and 2025. When we talk about the Indian domestic pharmaceutical industry, the contribution of a large portion of the PCD Pharma franchise players cannot be ignored. Indian Pharma size approx. $45 billion in FY21. The pharmaceutical industry in India offers 60,000 generic brands in 60 therapeutic categories.
Pharma Franchise is a huge business industry and provides entrepreneurial opportunities for dynamic pharmaceutical professionals, resellers and distributors. The pharmaceutical franchise is no longer a new concept on the market; some big players have also opted for this marketing strategy to reach the target audience faster but cost effectively. Professionals working as PCD franchisees hold a good share of the company’s revenue.
PCD (Propaganda Cum Distribution)
Both PCD and Pharma Franchise operate in the same process where a pharmaceutical individual obtains the marketing and distribution rights of a PCD Pharma Company and the company provides products, brand and support to its franchise partner.
To learn more about the pharmaceutical companies involved in the PCD Pharma Franchise & Third Party Manufacturing business at PharmaFlair, visit: https://www.pharmaflair.in
Pharmaceutical companies seek stability after COVID-19 disruption and lockdown. The domestic pharmaceutical market has grown, but calls have been made for a more robust domestic industry. The pandemic has forced the pharmaceutical and health sectors to review their strategy. The pharmaceutical industry is one of the strictest and most regulated markets. Thus, policies play an important role in the ease of doing business in the environment to achieve the goal of construction and development in India.
According to reports and industry experts, potential PCD pharma companies will see various strategic majors grow between 2022 and 2025. The following points are believed to be at the top of the list to make strategic changes within the organization to grow exponentially over the next three years and reach a market size of over $60 billion.
Orientation of talents and skills
There is a huge need and demand for quality products. The Indian pharmaceutical sector is bound to build a talent base in the industry to move up the value chain. Millennials, outside of their paychecks, overwhelmingly consider their part in the vision of the company they work for. The flow of ambitious escaping companies will increase to find relevant business opportunities.
Policies and regulatory system
Systems can speed up the drug discovery process. We need improved fiscal policies and ease of doing business for private sector companies. The government also aims to increase health spending through programs like Ayushman Bharat. The Indian government increased the pharmacy budget from 1.8 to 2.5% of GDP in FY22.
Take the opportunity to launch new drugs
The patent cliff is set to continue into 2022 as more drugs lose patent protection. Most of the successful local pharmaceutical companies have been very good at picking up patent immediately expired drugs. This gives a competitive advantage to PCD Pharma franchise, bringing the drug to market first. Pharmaceutical companies will certainly take advantage of this opportunity to expand their product range and capture the new market.
Improve certified manufacturing capability
Indian PCD pharmaceutical companies are now planning to open their own certified manufacturing units to avoid any barriers in the supply chain. The other reason is to remove dependency on third-party vendors. The flow of requests to open manufacturing units is increasing. With Baddi (HP), Gujarat 300+ units will be installed by next year.
The Indian pharmaceutical industry has started to take online marketing seriously and has caught up with its online visibility. In addition to good advertising, it is important to support it with good marketing strategies and plans. Pharmaceutical companies are poised to increase their online marketing spend by 1-3% of revenue.
Diversification and micromarketing
Players mainly dependent on the local market and the generic business (areas such as antibiotics, analgesics, etc.) will have to diversify to survive in the future. The Indian market is already competitive. The demand for quality specialty drugs is increasing by 9-15% year over year. Foreign multinationals focus on micro-marketing to increase competition by launching products in gynecology, neuropsychiatry, gastroenteritis, PCD Diabetes & Cardiac Medicine Franchise segments, both branded generics and generic categories.
The next three years are going to be crucial, but with many opportunities for Indian Pharma to expand, start up, invest and grow. Pharmaceutical franchise is a thriving business and will reach new heights in the years to come. Building a strong distribution network and working culture are the biggest necessities for PCD and Pharma franchise businesses.
PharmaFlair is an organically growing Indian B2B pharmaceutical marketplace. We connect verified buyers and certified sellers at PharmaFlair for pharmaceutical, healthcare, medical and surgical products. PharmaFlair provides one stop solution for importers, exporters, manufacturers, traders, service providers, distributors, wholesalers and government agencies to promote and find Online Pharmaceutical Business Opportunities. PharmaFlair Co-Founder, Mr. Deepak Bhardwaj, said that in line with recent business growth trends, they expect growth of over 2000 vendors with over 500 Premium subscriptions within the next three years. . PharmaFlair’s vision is to become India’s first and largest B2B e-marketplace for Pharmaceutical, Healthcare, Medical & Surgical Products, Licensed Wholesale & Third Party Manufacturing, Franchise & Business Opportunities .