Pharmacy Science Booming Because Of Tough Medical Admission
The growth rate of Pharmacy Science is at on peak these days. According to experts, the pharmaceuticals market in India witnessed an increment of 17.46 % during 2015-16 and this growth rate is now expected to expand at a CAGR of 15.92 % by 2020. Experts say that India might be sitting on the no. 3 position among the top pharmaceutical markets by 2020 with the regular incremental growth and there is also a possibility of considering it the sixth largest market globally.
There could be no denying to this fact that the Indian Pharma industry can be seen today on a good growth path. The following facts are responsible for driving the growth of Pharmaceuticals industry:
1) Demand in the generics market;
2) Demand for emerging segments;
3) Growth in healthcare financing products; and
4) Rise in outsourcing activities
One of the most important factors of booming Pharmacy Science is of course to face the challenges while seeking for the admissions in Pharmacy College. Because of the tough competition in pharmaceutical industry, it’s not easy for candidates to get admission in their desired colleges/universities.
Career Paths With Scopes Available in Pharmacy (Pharmaceutical Sciences)
Research & Development:
If subjects like Pharmacology, Pharmaceutics and Medicinal Chemistry have been your favorite during your third and fourth year of B.Pharma, then it’s good for you to pursue a career in research development. There is a huge scope of growth in this field. Agro, Biotech, Pharmaceutical and FMCG sectors are there to welcome you when it comes to helping you get good jobs.
In India, you as an M.Pharma graduate can get an opportunity to start your job career with a salary of 22K per month on an average. With an experience of 5 years in this domain, you would be able to claim a salary package of 42K per month (average).
Analytical R&D and Formulation Development (F&D):
Might be like many others, you can find the QC / QA roles boring. However, for all those candidates who are skilled and intelligent, there is a finest range of job and rewarding opportunities available in this sector.
A fresher with a degree of analytical R&D and Formulation Development in India can earn something between 8K – 18K per month. Well, you might be working on a salary with this course in your starting career; however the take-home-salary would go up to 32k-42 k per month with an experience of 5 years.
Sales & Marketing:
Most of pharmacy graduates prefer to start their career with the sales and marketing function. There are plenty of jobs available in the sales function. Candidates get a chance to enjoy a good salary structure and the most important thing is that lucrative incentives are also available for good performers.
You would definitely love this profile if you are confident, pro-active, and dynamic and enjoy travelling, negotiating, talking and making good money.
Your take-home salary would be something between 14,000 and 25,000 Rupees if you start your career as a medical representative after B.Pharm. Only 3 years experience of this domain can allow you to earn between 25K and 32 K per month(excluding incentives). In case if you plan to move doing an MBA or PMT after 3 years, then you may end up with a salary package of something between 40K to 60K per month (excluding incentives).