Career prospects in Pharmacy
Lucrative career options are available in various fields of Pharmacy. Manufacturing, Quality Control, Quality Assurance, Regulatory Affairs, Analytical R&D and Formulation Development (F&D), Research & Development, Sales & Marketing, Academia, Hospital / Clinical / Community Pharmacy and Medical Writing are some of them. After getting higher education from abroad a candidate can serve as Healthcare Consultant, Healthcare Policy-Maker, Nutritionist, Food Safety Inspector, Medical Officer, Health Educator, Clinical Researcher etc.
They also can serve abroad as Registered or licensed Pharmacist (Pharmacy Jobs) in Countries like Canada, US, UK, Australia as community pharmacists.
There are ample opportunities in this field to develop own set up of business as an entrepreneur in the themes like New drug molecule / Active Pharmaceutical Ingredients (API) / New Chemical Entity (NCE), Production of raw materials (excipients and other ingredients), Manufacturing and Production of new formulations, Preparation of Biological, Sub-Contracting for Manufacturing, Sub-contracting for R&D and E-commerce –Pharmaceutical/Healthcare Industry etc.
In spite of prevailing challenges in the Indian pharma sector, thousands additional job opportunities are likely to be created as the industry is expected to grow up to 45 per cent by 2025.
Skills/competencies required
To be a competent Pharmacy professional, Cognitive or knowledge-based, Psychomotor or skills-based and Affective or value-based competencies are required. Pharmacy professional is supposed to well versed with Pharmacist-delivered patient care, Public health, Dispensing systems management, Business management, Communication, Pharmacy law, Leadership, computer skills and problem-solving.
Pharmaceutical Industry scenario
The Indian pharmaceutical market with nearly 25,000 companies was valued at $ 33 billion in 2017.The pharmaceutical industry in the country is expected to expand in the coming years to reach 55 billion in 2020 (CAGR of 22.4% in the period 2015-20). India’s pharmaceutical exports are estimated at 17.27 billion dollars in 2017-18 and are expected to reach 20 billion dollars by 2020.The Indian pharmaceutical industry has received foreign direct investments worth USD 15.72 billion between April 2000 and March 2018. The pharmaceutical segment is seen as an integral part of the Indian healthcare market, which is estimated to be worth ₹10,000 crore and growing at a CAGR of 22.9 per cent. Globally, the Indian pharma market is the third largest in terms of volume and 13th in terms of value.
It is a matter of concern that Total employable candidates with B. Pharma degrees were 42.3 per cent in 2016 only as against those 40.62 per cent in 2015. BTIPS with its world class facilities and experienced team of mentors aims to enhance the employable candidates via shaping the pharmacy professionals into globally competent ones.