Indian pharmaceutical industry is divided into two categories as bulk drugs and formulations by its physical properties and marketing point of view ethical, generic and OTC and line of treatment the eessay is further divided as Allopathic, Ayurveda, Homeopathy, Unani etc. Furthermore Indian pharmaceutical sector has successfully crossed all phases from monopolistic phase to multi-brand phase to emerging market phase and now commoditisation phase stepping ahead to give a new shape for pharmaceutical marketing.
It is observed that Infrastructure base of Indian pharmaceutical industry comprises of more than 3. Also 9 thousand pharmaceutical companies are operating their pharmacyy with brand in lakhs through 60 thousand medical representatives.
Ancillary industries provide opportunities as high as 7. Thus together essay on scope of pharmacy in india and indirect contributes Study found that generic-generic market in India has shown substantial base of Rs.
Biotechnology is another competent market in India with marginal low base of Rs. In addition to this government has received several projects related to up-gradation, expansion essay on scope of pharmacy in india starting new production kn.
It is observed that Bulk drugs production has been significantly increased over the decades from the year essay on scope of pharmacy in india crossing the turnover of Rs. However it is seen that many of the M. Hence there is a significant scope for Continue reading companies for export in developing countries for both off patented and generic products.
The size of formulation market is Rs. The achieved growth is because of increasing export to developing puarmacy like China, South Africa, European countries etc. As per the study, initially o is very high because of monopolistic competition where few companies imdia dominating the market.
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But in later half, from onwards again profitability increases marginally high due to heavy investment in moderation of production pharmcy that reduced the cost of production and raw material of formulations. On the other side it is found that Government spending on healthcare has been significantly reduced from 3.
The annual per capita drug expenditure is low of Rs. Study reveals kn the total esway import and export in Indian pharmaceutical has crossed the land mark of Rs. It is found that the top ten companies represent 31 percent of total market because of intense market competition amongst them as a result that top performing company is having only 5. Scppe the combined sale of these top three Indian pharmaceutical companies essay on scope of pharmacy in india Cipla, Essay on scope of pharmacy in india and Sun Pharmaceutical is represent only In only Rs.
In product life cycle as well as market life essay on scope of pharmacy in india decision making is most crucial factor for a successful marketer. Therefore product should be backed by innovative strategies to make it a successful brand to sustain in the market and analyzing the brand position with respect to competitors essya helps for re-strengthening its ppharmacy in market field. Furthermore now a day product life cycle becomes shorter due to heavy competition and Governments rules and restrictions.
Indian pharmaceutical industry where pricing strategies is frames with residual degree click the following article freedom essay on scope of pharmacy in india the essay on scope of pharmacy in india laid by DPCO. Place is another most important element of marketing mix. The pharmaceutical marketing channel where the main customer i. Amongst four elements of marketing mix, promotion is the most significance elements in pharmaceutical marketing.
Therefore in tune with changing complexities and competition, the concept nidia promotion is taking a new shape. It involves pursuing the attention of customer, understanding the process of perception and attention and the role and responsibilities of marketer. The suggestive model of buying process helps for better product promotion in coming era. Ethical medical advertising promotes good marketing environment for a healthy growth and reduces unnecessary competition. Oc, selection, and training of medical representative are another significant factor for strengthening market network.
It will probably help you see which points are dominant ones you want to focus on.:
essay on scope of pharmacy in india Critical evaluations of recruitment, selection of these have further guided us to re-strengthening and improving the performance of medical ihdia to better future marketing network. Evaluation of performance of indla force and keeping high spirit of team motivation is a key to become successful marketer. It has been observed that, here the drugs currently on the market, just fewer than ten percent are on patent in Europe.
Extrapolating phatmacy percentage into the future, which may itself be questionable, means that even if product patents result in significantly higher prices, much of the pharmaceutical market will not be affected. It is true that Indian firms essay on scope of pharmacy in india moving into the world sclpe market and, although the introduction of product patents will cause them to lose their first-mover advantage, their low manufacturing costs will continue to give them an advantage in competing for this market.
Phagmacy bulk of production for the domestic market is drugs that are not on patent. As a result of these features, the esssy of product patents should not have a strong adverse impact on employment in the industry or on the kndia of the pharmaceutical sector to the economy. Since most important pharmaceutical innovations will be patented internationally, there is likely to be little or no additional benefit to be gained by Indians from specifications being filed domestically.
Essay on scope of pharmacy in india MNC with a new-patented drug may delay a launch in India because of the concern over global price regulations mentioned above. The coming years are going to be tough for pharmaceutical essay on scope of pharmacy in india. Unless, there is total change in mindset towards business, it is likely that some companies may restrict their operations. The above suggestions can be useful ;harmacy small and medium scale companies.
Today, as we discussed earlier, companies like Pharmaceutical Companies and Ranbaxy can join their hand for Slow Release Ij why not small companies? Such examples proved the path for successful pharmaceutical marketing.