Business opportunities in pharmaceutical sector
Pharmaceutical sector is most profitable and growing business sector of India. There are various business opportunities available to start in this sector. We are providing some quick business ideas of this sector.
There are many profitable segments are available in pharma sector but the main problem is, people do not fully aware about this segments. Many time they struggle to find where to invest their hard core money or how to start, no matter whether they are from pharma background or not. Here we are going to discuss some important list of businesses in pharma sector which will prove best for your business career. Only PCD Pharma or Pharma manufacturing is not the only option in this sector, other business opportunities are also available. Some of the options are given below.
- Pharma Marketing
If you have experience of sales and marketing in pharma sector then it is the most profitable and easy business opportunity. You can also develop some ability to market your pharma product. You can sell pharma products to pharma companies by below given ways:
- Brand Marketing
- OTC Marketing
- Pharma Franchise Distributorship
- Generic Marketing
- Pharma Manufacturing
Pharma manufacturing companies are considered as base for all type of pharma companies. It is one of the best ways to establish your business but require more documentation and approvals than any other business segment. You can choose from various types of available manufacturing methods and marketing methods:
- Pharma Products and formulations
- Pharma raw material
- Veterinary products
- Disposal products
- Ayurvedic/Herbal products
- Surgical products
- Softgel capsules
- Contract manufacturing
- For marketing company
- Loan License manufacturing
- C& F Agents:
C & F agents are one type of middle man between company and distributors. They distribute pharma product received from company to distributors after repacking them. In every type of marketing, there is need of c&f agents. They work on regional, area or state level and earn fixed percentage of margin.
Pharma distribution is also a profitable business. You can start your business career in pharma sector by taking distributorship of any reputed pharma company. Type of distributorship is given as below:
- OTC distributorship
- Branded pharma product distributorship
- Generic pharma product distributorship
- Pharma franchise distributorship
- Pharmacy/Retail business:
In this type of business, you need to consider good location for your shop and make available all required products. This type of business comes at ground level of whole pharma chain and earns more margin compare to above mention types. Concept of online pharmacy is also gaining popularity and will be more popular in coming future days.
- PCD Pharma Franchise
PCD Pharma Franchise is one of the best and profitable business opportunity for pharma marketing professionals. It will require minimum investment and provide good profit in pharma business. You just need to good knowledge and skills of pharma marketing and hold over doctors who can prescribe your pharma products. You can take franchise of any reputed PCD Pharma Company and start business with limited investment and products.
- Raw Material Supplier:
As number of pharma manufacturers is increasing, demand of good quality raw materials is also increasing. Most of the raw material suppliers are dependent on the few big manufacturers or importing them. Similarly big pharma manufacturing companies deal with raw material suppliers in bulk but small pharma manufacturers can’t get direct raw material supply. So it is good business opportunity to cater demand of pharma raw materials.
- Nutraceutical Company:
There is huge demand for dietary supplements such as protein powders, multivitamins, calcium supplements, DHA etc. in pharma and healthcare sector. Doctor’s also prescribe these products for better health and living. This business is easy to start as there are chances to get many contract manufacturing orders or starting own marketing company. One needs to register with FSSAI and take license to start business of Nutraceutical products.
- Cosmetic Product Manufacturing:
According to survey, demands of cosmetic products are growing very rapidly and it will grow in near future also. It is also a good business opportunity for pharma professionals. It needs less investment and provides guaranteed increment in profit income as demand remains always high. For starting this business you need to register with state council of pharma and relevant qualification.
- Content writing and Blogging:
Content writing and blogging is also a good business option. It requires no infra or investment. If you have good knowledge of subject and good writing skills then you can start your blogging website with health, herbal and pharma topics. After few months of successfully blogging, you can go for Google adsense where Google will pay for each its ads on PPC basis.
Others opportunities are:
- Pharma machinery
- Pharma packing material
- Pharma label and printing
- Pharma Consultancy