Pharma sector has come up with its new market and, has opened the doors to job opportunities. In this year itself the industry expects to create 45,000 more jobs in the country. In response to this requirement Healthcare research institute IIHMR University has opened applications for MBA in Pharmaceutical Management.
Dr. SD Gupta, President, The IIHMR University quoting Mc Kinsey report – India Pharma 2015 – Unlocking the Potential of the Indian Pharmaceutical Market said that the Pharma industry has immense opportunities and has a projected market growth of US$ 24 billion by 2015 and US$ 55 billion by 2020. Through discussions by the Pharma Industry experts it was evolved that Metro and Tier-I markets will make significant contributions to growth, driven by rapid urbanization and greater economic development. The hospital segment will increase its share and influence, growing to 25 percent of the market in 2020.
Various sectors that will be creating most of these jobs in the Pharmaceutical industry would be, sales, marketing, supply chain management, KPO, health and Insurance, medical value travel/tourism, corporate hospitals, contract manufacturing(CRAMS), consumer health care. The allied industries that will be creating jobs would be Banking(evaluating projects for loan(health and pharmareleated), state health sector, general insurance etc. The states that will benefit from this MBA programme would be Punjab, ,Karnatak, Madhya Pradesh, AP, Telangana, Gujarat, Maharashtra(Mumbai, Vdharbha) etc, he added.
He also said that with these growing trends the industry is facing many challenges such as need for the best talent in the industry, rising customer expectations and restricted discovery and development process the growing need of 1500-2000 pharmaceutical management professionals will be required in both AP and Telangana.