Pharma industry is one of the most flourishing industry in India ranking 3rd in India in terms of volume and 12th in term of value. There is no doubt that the growth of industry will continue to double its digits and India may rank in top five global pharma markets by 2030. This sector has also increased number of job opportunities for pharma professional. On the other hand the market is also highly fragmented with more than 5,50,000 retail stores. And this number is constantly increasing every year. While talking about the global market, PCD pharma franchise in India held only 1-2% approximately which is increasing at fast rate of 10% every year which shows tremendous scope in investing in PCD Pharma Company.
Distribution, policies and product developments are the salient features to be considered as most important while looking at the current scenario of PCD.
Pharmaceutical industry have experienced great paradigm shift in last few years. The reason for this is that previously products were stored in warehouse before distribution. But in recent times, Clearing and Forwarding agents (CFAs) have taken charge of distribution. After CFAs, distribution is being passed to the stockiest who in turn make available these products to various pharmacies and thereby reach to the consumers.
Distribution can also be any of the below:
- Chain Pharmacy
- General Medicine Distributor
- Health Supplements Distributor
- C & F (Carrying & Forwarding Agent)
- Over the counter medicine distributor
- Unani/Ayurvedic/Herbal medicine distributor
PCD Pharma Franchise in India operates under wide range of policies issued by government and applied throughout the country. Some of them are:
- Price Control- Possess list of price controlled drugs, manage process of fixation of drug rates and penalties for contravention of mentioned drug prices. This is to ensure enough availability of drugs at a reasonable price. This also ensures quality of the products by meeting various regulatory standards.
- Intellectual Property Rights- Indicates norms with respect to
- Geographical Indication
- Privacy of any undisclosed information about product
Indian medicine franchise companies have started adapting to development procedures and made their way within the international market by identifying the generic competitors to patent drugs and following up the required litigations to support the patent.
The pharmaceutical sector may be said to be uncertain but medicine franchise companies have risen up to the challenges by putting measures like compulsory licensing, price controls and changing FDI policy. Thus signing a PCD pharma franchise is a superb proposition from the point of view of profitability.
We hope that this article helped you understand how franchise business is changing the pharmaceutical industry in India. Contact us for any query. We are always available to serve you.