India is one of the emerging pharmaceutical markets in India. The last few years have been crucial for the growth of this industry in the country. During the period of the fiscal year 2009-2013, the pharmaceutical industry in India grew at an annual growth rate of 13%. A major contributor to this has been the export of drugs to other countries. The pharmaceutical industry in India accounts for almost 1.4 percent of the world market. Over the past decade, the country has become more sensitive towards health care, as a result of which, major pharmaceutical companies have been increasing their revenues.
Some of the major reasons that contribute to the growth of this industry in the country include increased revenue, healthcare awareness, improved healthcare facilities, insurance support, and government initiatives. In recent years, the country has witnessed an expansion in the size of the pharmaceutical market. The income from local sales and exports have grown considerably, while in the future it is expected that the income will increase by 14.4% with respect to the income generated in the year 2012. As reported by the Executive Director of the Council of India Pharmaceutical Export Promotion, growth of about 12 percent during the year 2014-2015.
With such great expectations positioning the expansion of the Indian pharmaceutical industry, the future of employees in this sector also remains on the bright side. Those seeking work in this sector can continue to look forward to exploring attractive opportunities.
Some of the jobs that you can explore in this industry are listed below:
Research associate
These professionals continue to be desired in the pharmaceutical and biotechnology industry to carry out research programs. Those who have worked in a laboratory and hold a B.SC or M.SC degree are eligible to apply for the Research Associate job.
scientific researcher
This is one of the higher level positions that require a PhD or equivalent qualification. They are involved in designing and conducting experiments. The average annual salary for this position is Rs 581,098 per year.
Sales representative
These are the professionals, who represent a company and its products to the doctors. They maintain contact with covered physicians within their region and add to the company’s sales figures. To qualify for these jobs, one has to earn a bachelor’s degree in science. However, some companies even consider those who have not yet completed their graduation, but only those who come from a scientific background. These professionals can expect to earn Rs 242,449 per year.
Product manager
Employees as Product Managers in this sector must manage a team, which is aimed at determining different elements of products, that is, medicines produced by the company. They work to manage the price, distribution, branding, forecasting, and overall strategy of the drugs produced. They possess extensive knowledge of market trends and demands, which in turn helps them perform their tasks efficiently. A Product Manager in this industry manages to earn more than Rs 6,00,000 per year in India on average.
Regulatory Affairs Associate
These professionals are in charge of managing all the paperwork and regulatory issues. They are in contact with the regulatory agencies and they are also involved in any kind of dealing with them like any kind of issue. They also establish regulatory strategies for the companies with which they are associated. His average annual salary package is Rs 244,933.
