Product selection for establishing PCD Pharma Company
Product selection is the main deciding factor, it is responsible for the success and failure of any PCD Pharma Company. Product list plays an important role to survive against competitors and earn profit margin. It is important to step for any new pharma startup because it will go to decide sales strategy and company growth in the long run. Here we are giving suggestions for making product list as per the latest trends for your pharma company. You can also read the below-given product list for your PCD Company. This list is given for example purpose only, by referring this list you can also create your own product list as per market need and requirement. Following factors can affect your product selection criteria
- Seasonal Products: Some pharma product’s requirement is dependent on the seasonal effect. Such as cough syrup and drugs. The demand for these products grows with increasing market demand. These products are very helpful to increase sales in a certain season but some time proved to the nonmoving product.
- Market Demand: Pharma segment is an innovative field. Many researchers always try to find out new and more effective molecules for diseases. Doctors prefer to write new and effective molecules instead of old medicines so new research causes a change in demand for prescribed drugs. Research can change the current trend of prescribed medicine and tend to our old medicine. It can make a difference in market demand.
- Antibacterial Products: Antibacterial and antibiotics products are highly demanded medicines in the market. They can contribute a larger part of company sales but due to this feature, it becomes a highly competitive product segment and gives fewer margins. Each PCD Pharma Company needs to update its product segment periodically as per the latest market trends and regulatory policies.
- Antacid Products– These are one of the high selling products and included in many prescriptions along with minerals and multivitamins but the choice of antacids are different as per different doctors. Some antacids like Rabeprazole, Pantoprazole, and Omeprazole are highly demanded in the market.
- Multivitamins– multivitamin products with minerals and vitamins are also highly demanded and provide good sales margin. They are used with or without a combination of preparations.
- Drops– Eye and Ear drops are beneficial products over competitors because many pharma companies do not add them in their product range.
- Others– Ideal product list of pharma company should be Tablet, Capsule, Injection, Syrup, Eyedrop, Powder, ointments, etc.
Injections provide low margin in starting but have high consumption everywhere, especially hospitals purchase them at net rates. Similarly, liquids and ointments also play an important role in establishing the company name. After that step by step, you can add other pharma products such as derma, gynec, and Ayurvedic to make your product list wider.