The Indian pharma sector is today a multi-million dollar space with complex regional factors and multiple competitors coming into play. We have big corporations, small firms, franchises and PCD companies that occupy the supply chain. The market has also expanded considerably with Indian companies now emerging as global leaders in the industry.
Behind India’s success in the global market, we have the driving force of the local industries. The growth in the Indian pharma sector may be a fairly recent story, but it is a industry that grew organically with ample support from a rapidly developing economy. As Indian pharma companies make their mark internationally, let us see what makes them best PCD pharma company:
India has a large pool of educated and trained workforce. This ranges from the shop floor worker to managers. The availability of such a rich workforce has meant that phrama companies had the best brains to plan with and a dedicated workforce to bring it to light. India has a massive resource in its people which it has used to innovate and build quickly.
This access to personnel has also resulted in the availability of experienced people to lead the ship. Trained managers and entrepreneurs have taken a leading position steering the industry towards the ambitious position of dominating worldwide markets. From a nascent sector in the last nineties, it has emerged as a global powerhouse in this decade.
Every pharma industry needs comprehensive infrastructure support to thrive. Apart from a reliable distribution network, we need hospitals, clinics, doctors and chemists. India’s strength lies in its strong infrastructural support, one that is often lacking in the developing world. The network of hospitals and insurance providers has made healthcare both available and affordable. With enough doctors and practitioners, we also have a system that is geared towards healthcare and policymaking for both short-term and long-term.
This support is valuable for the growth of the pharma industry. It has created awareness among people and with ready access to healthcare, people are more likely to buy medicines, the only means of actually achieving growth. This support also helps us to grow organically, creating an environment of innovation and development.
One of the reason Indian firms are counted among the best PCD pharma companies is their aggressive marketing strategies. This is the result of a heavily competitive local market. The Indian markets today have multiple players, each competing fiercely for a part of the pie.
This has created companies that are aggressive in their approach towards creating a bigger marketshare. This aggression has been essential in the international market where these firms are competing against the biggest pharma companies.
The best PCD pharma companies have thrived because of their use of innovative strategies. In a competitive market, we need innovative strategies in propaganda and marketing. This is the only way a brand can carve out its niche in an already crowded market. Interestingly, this is not always the high visibility and high profile campaign. In many of the underdeveloped markets of the world, Indian firms have carried out a low profile, but highly effective marketing campaign.
Perhaps the biggest advantage of Indian firms is their affordable pricing. With highly affordable generic medicines, the Indian firms have not only made their place, they are now leading suppliers of generic medicines. Not just the developing or under-developed markets, Indian firms have created a large presence in American and European markets as well because of their price factor.
The other side of the equation for a PCD firm is its distribution network. With a supporting infrastructure, PCD firms have been able to ensure prompt deliveries. Today many firms offer online ordering and supply. This has further helped in ensuring a wider, more efficient and prompt delivery service.
To compete with the best Indian firms have also tried to stick to strict rules and regulations in international markets. While there has been some concern year before last, the adherence to quality control has become stricter. In fact, India has the largest number of USFDA approved facilities outside US!
Indian firms are among the best PCD pharma companies worldwide. This has been achieved through innovative strategies, a supporting infrastructure, rich resource pool and an adherence to quality.