Indian pharmaceutical industry ranks 3rd in the World in terms of volume and 14th in terms of value. It is one of the fastest growing industries across India. Hyderabad, Mumbai, Bangalore, Visakhapatnam, Chandigarh and Ahmedabad are the major pharmaceutical hubs of India. Indian pharmaceutical companies contributed 20% of global market supply.
Pharmaceutical companies opt different marketing strategies to sale their products. In this direction pharma franchise is one of the popular & trending marketing strategies in pharmaceutical business. Large numbers of pharmaceutical companies follow this concept of business and looking for pharma franchise merchants. It provide great business opportunity for whom that does not belongs to the medical background. Pharma franchise is most profitable business concept to start a new pharmaceutical business.
Scope of Pharma Franchise in India
Due to huge demand of pharmaceutical products across the world, there are great opportunity and scope of pharma franchise business. Every year, many pharma franchise companies emerge in India. They provide wide range of quality products which are beneficial for healthcare sector. The Pharma franchise is known as the backbone of pharma Industry. According to the survey, Pharma sector is expected to grow 15% by the year of 2020.
Now a days people give more attention to the health, this is also an impact of increasing demand of pharmaceutical products. The rising income of the middle class, development of healthcare infrastructure, improving healthcare financing and health insurance plan has also increased the demand of pharmaceutical domestic market.
Indian government gives more attention in improvement of both healthcare sector as well as pharmaceutical sector. Government has unveiled ‘Pharma Vision 2020’ which aimed to become global leader of pharma manufacture in the world. Government also did amendment in existing FDI (Foreign direct investment) in pharmaceutical sector which allow automatic route for manufacturing of medical devices subject to certain conditions.
In short, demand of pharma products will keep increasing in coming years. So there are great scope of pharma franchise business not only in present but also in future.