Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Industry News

| More

Despite Challenges Pharma Sector to Grow and Generate High Employment - Experts

Posted On: 2017-02-27 21:08:12

One of the largest and the most complex demography in the world will be the youngest nation by 2022. With the initiatives taken by the Government of India on demonetization, introduction of the GST along with Make in India, Smart Cities, Digital India and Startup India have played an important role in changing the eco-system and created newer platforms in many sectors including the pharmaceutical sector. To further discuss the opportunities and challenges in the Pharmaceutical sector, IIHMR University Jaipur invited experts such as Mr. Atul Kumar Nasa, President, Indian Pharmacy Graduates Association, Mr. Rajendra Talele, Head Clinical Development Services - Accutest Research Laboratories, Mr. Deve Babre, Associate Vice President, Tata Consulting Services, Mumbai, Mr. Sachin Tadge, Project Manager, Cognizant Mumbai during its Pharma Summit 2017 held on 25th Feb, 2017.

Dr. SD Gupta, Chairman, IIHMR University Jaipur said, "Despite price capping, demonetization and GST implementation - all of which are perceived to impact the Pharma sector adversely, this industry will continue to grow and the major growth engines will be domestic sales, exports, an ageing population, Health insurance coverage, increases in per capita spending, Medical tourism etc. All these factors combined together put more pressure on the effective management, governance, availability and accessibility of pharmaceutical products, especially in remote areas. This poses increasing challenges for Pharmaceutical managers not only in term of demanding effective Leadership Skills but also in the sector''s demand for quality manpower that can hit the ground running. In this context, IIHMR University''s MBA Pharmaceutical Management program fills this vacuum to a great extent because it imparts managerial skills that are relevant for the Pharma sector."

Mr. Deve Babre, Associate Vice President, Tata Consulting Services said, "Due to high growth rate in domestic and overseas market, there is a strong need of Pharmaceutical Management Graduates in Sales, Marketing, KPO''s, Medical writing and Communication, Medical devices, Supply Chain and Logistics, Hospital Industry, Healthcare Communications and Pharmaceutical Digital Marketing business categories. The pharma sector is emerging and is mostly chosen by young candidates for fast career progression, thereby being the number one choice for both Pharmacy and Non-pharmacy graduates, which later on choose formal Pharmaceutical Management education program and get domain expertise which is needed in Pharma and Healthcare sector."

The Pharmaceutical segment is an integral part of the Indian healthcare market, a market worth approximately Rs. 100 billion, growing with a CAGR of 22.9%. Healthcare delivery includes hospitals, nursing homes and diagnostics centres, and pharmaceuticals, constitutes 65 per cent of the overall market. Globally, the Indian Pharma market is the 3rd largest in terms of volume and 13th in terms of value. By 2020 the Indian Pharma market will be touching $55bn with a CAGR of ~15.9%, with Generics occupying 70% market share followed by OTC 21% and patented drugs capturing 9% market share. To this Dr. Gupta added, "The industry inspite of many challenges will create 58000 more job opportunities in the pharmaceutical sector and we expect the industry to grow upto 45% by 2025."

Dr. Ashok Peepliwal, Associate Professor at School of Pharmaceutical Management, IIHMR University Jaipur said, "In the last 5 years, there has been a growth in non-communicable diseases. Segments like Cardiovascular, Anti-Diabetes, Anti-cancers, Anti-depressants are the fastest growing areas of concern due to rapid urbanization and changes in life-style patterns. The Union Budget of 2017 addressed this issue, and prompted the government to recommend tertiary and secondary hospitals to launch "Wellness Centres" and to make the Indian public aware of "Public Health" challenges. It is notable that these actions have shifted the onus on to prominent educational institutions to deliver healthcare management professionals especially in the field of Primary Health, Hospital Administration, Pharmaceutical Management and Public Health."

The IIHMR University, which pioneered cutting-edge research in Healthcare Sector, has been meeting the demand for these professionals through their MBA programs in Health Management, Hospital Management, Pharmaceutical Management, Rural Management and Masters in Public Health (MPH) in collaboration with Johns Hopkins University, Baltimore.

According to AWACS, a total of 55 Companies have been launched in last 36 Months, where 5 Companies have crossed 10 crore in Revenue. These new companies are now being led by Saffron Therapeutics, Brinton Healthcare, Innovcare Life Sciences, Jubilant Life Sciences & Emenox Healthcare. With the rise in Government taking various initiatives and the exports of the Pharma sector rising, According to the India Skill Report 2016-17, the gender diversity in Pharma and Healthcare sector is 71.72% males and only 28.28% females.

Mr. Rajendra Talele, Head Clinical Development Services- Accutest Research Laboratories, said, "Keeping in mind the surge in the Pharmaceutical sector, one must not neglect certain aspects of the Indian pharma sector which is highly unorganized and fragmented in nature. It has nearly 25,000 companies, only 330 are organized. Total employable candidates with B. Pharm degrees were 42.3% in 2016 as against those 40.62% in 2015. Also as per the Industry wise hiring targets for women in Pharma and Healthcare sector the total target is about 38.67% women as per the India Skill Report and the total employability of women is only about 28.28% which calls for the need of gender diversity to be maintained in the Pharmaceutical industry."

In view of the national push to "formalize" all sectors of the economy?of which the Pharma sector is a critical component, Management education in the health sector can play a vital role in facilitating the push towards greater professionalization and formalization. There is a growing demand for Pharmaceutical Management Graduates in Sales, Marketing, KPO''s, Medical writing and Communication, Medical devices, Supply Chain and Logistics, Hospital Industry, Healthcare Communications and Pharmaceutical Digital Marketing business categories. This sector is emerging as a choice sector for GenY, for whom careers as professionals and management trainees with good starting salaries have emerged as attractive career option. It is therefore not surprising that the Pharma industry, which employs ~5.5-5.7 Lakh people, hired approx.1.34 Lakh people in 2016 and the same momentum is expected to continue in the coming year.

The Pharma Summit was concluded by discussing trends alongwith various other aspects that could give impetus to the growth of the Pharma sector. Biosimilars and Biologics are burgeoning sectors in 2017 also major scientific and technological advances, coupled with socio-demographic changes and increasing demand for medicines will revive the pharma industry''s fortunes in another 10 to 20 years. Other trends like increase in coverage of health insurance, advancement in medical technology and penetration of mobile health services will give further impetus to the growth of the Indian pharma industry.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Angel Broking bags prestigious 'Commodity Broker of the Year Award'
Angel Broking brings UPI in Investing
Bayer wins 'Best Employer in India 2017' Award
Yogi Adityanath cancels bids to procure 3800 MW power: Angel Broking
India's Buying Propensity Soars in January 2017, Dips Sharply in March
Start ups - Blue Ocean Market Intelligence and HelloSoda India win Angel Broking's Fintech Challenge
IBM and Red Hat Collaborate to Accelerate Hybrid Cloud Adoption with OpenStack
Elara Technologies Introduces a Un ique Offering for the Indian Real Estate Ecosystem for International Exposure
Tally Solutions joins hands with The Guild and CNBC Awaaz as Technology Partner and conducts its 'SME Futures' program in Hyderabad
Birlasoft Announces TruView CLM - a Salesforce Fullforce Solution for Media & Entertainment industry
Manipal CDC's new platform makes maiden investment in iGenetic Diagnostics
Tractors India Private Limited inks deal with RungePincockMinarco to deliver enterprise solutions for the Digital Mines of the Future
NASSCOM President Concludes Visit to Washington, DC
Quartz wins Arbitration Case against Jindal India Thermal Power Ltd
Suryoday Small Finance Bank Raises Around INR 160 Crores, Net-Worth Crosses INR 500 Crores
AnandRathi Extends Support to Flexi Capital in Strategic Association
PUMA signs global sports icon and Indian Cricket Captain Virat Kohli as their Brand Ambassador
Apollo Munich Health Insurance wins Golden Peacock Award for Risk Management 2017
Zerodha's Client Base grows to 2.2 lakhs in 1 year
CarTrade raises US$55 million to drive growth in online automobile classifieds
SIDBI and LIC jointly signs agreements with 7 Venture Funds under SIDBI - LIC MOU
Angel Broking launches ARQ - A Wealth Management Engine for Retail Investors
Angel Broking steps up on Advanced Data Analytics to enhance customer experience
Angel Broking launches "Spotlight"- digital platform for employee appreciation
Ameyo on boards Schneider Electric's Ramesh Srinivasan as President Business Development
Muthoot Fincorp takes the Kabali fever farther, wider on ground
Shardul Amarchand Mangaldas & Co advises Privi Organics on Rs. 370 Crs PE Investment by FIH Mauritius Investments Ltd.
Angel Broking's Recruitment goes Digital
Customs policy for warehouses - All risk insurance: AnandRathi Insurance Brokers
Angel Broking launches #Customer Service on Facebook & Twitter
Motoziel and Edelweiss Bike Travel Announces Joint Venture
Bharti AXA Life Insurance launches "Bharti AXA Life Monthly Advantage"
Angel Broking goes for a nationwide "Digi-Pitch"
Ground Handlers Give Thumbs Up to Civil Aviation Policy; Non-Entitled Ground Handling Agencies Shown the Door
CapitalVia Global Research and Khadi Gramudhyog, Dept of MP join hands to host Corporate Khadi Mela
MySeniorDoctor.com Launches Electronic Medical Record facility
Drishti-soft Solutions receives Honourable Mention in Gartner Magic Quadrant for Contact Center Infrastructure, Worldwide
India PM Narendra Modi addresses the USIBC's 41st Leadership Summit in Washington, D.C.
Now India will 'Trade in 1 hour' : Angel Broking
Angel Broking goes beyond E-KYC; launches D-KYC
LANXESS raises guidance for 2016 after strong first quarter
Preparing Champions for Business of Sports Management
Shri Pralhad P Chhabria, Founder & Chairman of Finolex group passed away
Rays Power Infra forays into north India with Opex Model-Rays Solar Kart
Nandan Nilekani boards RailYatri.in with undisclosed amount of funding
Confederation of ATM Industry holds its First Annual Conference in Mumbai
vCommission invests in two new ventures - 'LetReach' & 'Spinsvilla'
LANXESS takes over Chemours' Clean and Disinfect specialities business
Gangavaram Port inaugurates "Water Distribution Program" for nearby villages
Modern, more efficient and safer - the aromatics network of LANXESS


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2017