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How to grow your Pharma Business?

  Growing a pharma business requires a strategic approach considering the specific context of your company and the pharmaceutical industry as a whole. Here are some general pointers to get you started: Market and Customer: Identify your target customer: Deeply understand the specific needs and challenges of your target audience, whether it's doctors, patients, hospitals, or other healthcare providers. This helps tailor your products, services, and marketing efforts. Focus on unmet needs: Look for gaps in the market where existing solutions are inadequate or unavailable. Addressing unmet needs can give you a competitive edge and drive innovation. Track market trends: Stay updated on regulatory changes, technological advancements, and emerging diseases to adapt your approach and anticipate future opportunities. Products and Services: Invest in R&D: Develop innovative products or differentiate existing ones through unique formulations, delivery methods, or combinations. Remember

Top start-up and Business Ideas in pharmaceutical industry

Pharmaceutical industry is an evergreen industry. Even in most worst economical conditions, medicines don’t lose their craze. At all circumstances, there is need of healthcare facilities. If you want to start your business into pharmaceutical industry, we are providing here top business Ideas in pharmaceutical industry and how you can start business in pharmaceutical industry.

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The Indian pharmaceuticals market is the third largest in terms of volume and thirteenth largest in terms of value. The pharmaceutical industry in India was valued at US$ 33 billion in 2017 and expected to grow to US$100 billion by 2025. India’s pharmaceutical exports stood at US$ 16.8 billion in 2016-17 and are expected to grow by 30 per cent to reach US$ 20 billion by 2020.

Have look at start-up ideas in pharmaceutical industry:
  • Active Pharmaceutical Ingredients (API) manufacturing Unit
  • Medicine manufacturing unit
  • Medicine Marketing Company
  • Medicine import/export business
  • Pharmaceutical Distribution Business
  • Medicine Retail Business
  • Pharma Franchise Business
  • Pharmaceutical Packaging manufacturing unit
  • Raw material and Excipients manufacturing unit
  • Machinery manufacturing unit for pharmaceutical plants
  • Ayurvedic medicine manufacturing unit
  • Ayurvedic medicine marketing company
  • Homoeopathic manufacturing unit
  • Cosmetic manufacturing unit
  • Cosmetic marketing company
  • Pharmaceutical consultancy firm/company
  • Medical device business

Active Pharmaceutical Ingredients (API) manufacturing Unit:
API/bulk drugs are the basis of medicines and one of the most profitable and scalable business of recent time. India imports more than 75% of its active pharmaceutical ingredients need. Local suppliers are very less as compare to its demand. Government is also promoting manufacturing og API/bulk drugs in India and encouraging local pharmaceutical companies to develop API/bulk drugs in India. You can start your own API/Bulk drug manufacturing unit and get high ROI in pharmaceutical industry. Read complete detail about setting-up active pharmaceutical ingredients(API)/bulk drug manufacturing unit here

Medicine manufacturing unit:
India is one of the largest suppliers of medicine in world. India is known as pharmacy of world. We are lacking in manufacturing of api/bulk drugs but when come to manufacturing of finished dosage form (tablet, capsule, syrup, injection etc), we are the leader in world. You can also become part of India’s booming medicine manufacturing market and start own medicine manufacturing business. Read about Licenses and requirements to start medicine manufacturing unit here

Medicine Marketing Company:

Manufacturing unit set-up is a costly project and requires huge investment to start. If you want to set-up own medicine marketing company but have limited finance then starting medicine marketing company is one of the best solution for it. For setting up medicine manufacturing unit, you have to manufacture your own brand name products at third party manufacturing, contract manufacturing or loan license manufacturing basis. Setting up medicine marketing company is less time consuming and easy to start as compare to manufacturing unit. Check out licenses, requirements and documents required for setting up own medicine marketing company here

Medicine import/export business:

As we have discussed above, India import a large portion of its need raw material. You can set-up own import firm/company to cash this opportunity and become importer of raw material and supply to local manufacturers. Same in case of export business, world’s more than 40% generic medicines come from India. India is one of the largest exporters of medicines. You can set-up your export oriented business and cash this opportunity. Check out: How to import in India here and How to export from India here

Drug distribution business:

Drug distribution includes distribution of medicines, api/bulk drugs, raw materials, surgical products, medical devices, homoeopathic medicines etc. All these categories are covered under pharmaceutical distribution business and wholesale drug license is required to conduct this business. You can set-up own drug distribution business and get upto 8-12% profit margin for supplying drugs. Check out licenses and requirements for starting drug distribution business in India here

Medicine Retail Business:

Retailers are most import part of any distribution channel and same in case of pharmaceutical industry. Medicine retail business is considered as one of the most profitable business in pharmaceutical industry as well as in other industries. Along with offline medicine retail stores, online medicine retail stores (E-pharmacies) are also getting popularity. Check out how to start medicine retail business here and e-pharmacy business here

Pharma Franchise Business:

Pharma franchise business concept is popular among small and macro sized pharmaceutical companies and pharmaceutical sales team. Pharma franchise concept is based upon mutual profit sharing basis and both pharmaceutical companies and sales professionals can get benefits by indulging into pharma franchise arrangement. Know more about pharma franchise business here

Pharmaceutical Packaging (Drug packaging) manufacturing unit:

Pharmaceutical packaging includes label, foil, outer, boxes, wrappers etc. Pharmaceutical packaging (or drug packaging) is the packages and the packaging processes for pharmaceutical preparations. Pharmaceutical packaging is highly regulated but with some variation in the details, depending on the country of origin or the region. Check out how to start pharmaceutical packaging (drug packaging) manufacturing unit here?

Raw material and Excipients manufacturing unit:

Active pharmaceutical ingredients are the raw material which produces biological actions in drug but along with API/bulk drugs, there are many substances like binders, additives, lubricants, stabilizers, bulking agents etc are used for preparing a drug. These products require less complex and less regulated manufacturing environment to produce and easy to start as compare to API/bulk drugs manufacturing unit.

Machinery manufacturing unit for pharmaceutical plants:

Every medicine manufacturing unit requires machinery and lab equipments for performing its manufacturing processes. Pharmaceutical manufacturing is a highly controlled and regulated environment. Almost every process can be automated and there is a piece of pharmaceutical manufacturing equipment involved in every step. Manufacturing and supplying of machinery and lab equipments to pharmaceutical manufacturing unit is a profitable business.

Ayurvedic medicine manufacturing unit:

Popularity of ayurvedic medicines is increasing day by day and creating lot of business opportunities for new comers and existing businesses. You can also become part of this growing industry and start own ayurvedic medicine manufacturing unit. Ayurvedic medicines are also regulated through Drug and Cosmetic Act, 1940 & rules 1945. Ayurvedic medicine manufacturing is regulated and ayurvedic medicine manufacturing license is required for manufacturing of ayurvedic medicines. Check out: Licenses and requirements for start ayurvedic medicine manufacturing unit here

Ayurvedic medicine marketing company:

Sell and distribution of ayurvedic medicines is not regulated and can be started without any licenses and documentations. Ayurvedic medicine marketing company is one of the best option when come to starting ayurvedic medicine business. Check out: How to start ayurvedic marketing company?

Ayurvedic medicine distribution business:

Most of the ayurvedic medicines are sold as over the counter drugs and FMCG. Becoming ayurvedic medicine distributor is good business opportunity. You can start your own ayurvedic medicine distribution in easy steps. Learn more at how to start ayurvedic medicine distribution business?

Ayurvedic medicine retail business:

There are number of brand available which provides outlet opportunity and franchise opportunity. You can start own business by taking outlet or franchise of any big ayurvedic brands like Patanjali ayurveda, Himalaya, Elzac herbals, Charak etc. Check out: How to start ayurvedic medicine medical store?

Homoeopathic Medicine Business:

Homeopathy or homoeopathy is a fall under alternative medicine. Homoeopathic medicine and manufacturing is regulated through Drug and Cosmetic act. Persons those are interested to start homoeopathic business has to take license from FDA of concern state. Check out How to start homoeopathic business in India?

Cosmetic manufacturing unit:

Cosmetic manufacturing unit requires cosmetic manufacturing license from FDA of concern state. Cosmetic product if manufactured under ayurvedic medicines then it will follow ayurvedic medicines guidelines. If manufactured under cosmetic manufacturing license then it will be regulated there under. Check out how to start cosmetic manufacturing unit?

Cosmetic marketing company:

Sale of cosmetic is not regulated and can be sold out without any license. You can start cosmetic marketing company or distribution without any difficulty. Check out: How to start cosmetic marketing company here?

Pharmaceutical consultancy firm/company:

Number of persons is looking for agencies and individuals who can help them to start their business. Consultancy is one of the heights paying profession if you have good knowledge of sector you are associated with. If you have knowledge regarding procedures and regulatory affairs related to pharmaceutical and healthcare industry then you can set up your own consultancy business and charge for your guidance and time. Check out Pharmaceutical Consultancy business detail here

Medical device business:

Medical Devices are any instrument, appliance, material, machine, apparatus, implant or diagnostic reagent etc and/or any part or accessory which is used or intended for diagnosis, treatment, cure, mitigation etc. Medical devices are one of the fastest growing areas within life sciences. Check out How to start medical device manufacturing unit? Sale of medical devices could be conducted by taking wholesale drug license as mentioned in drug distribution business section.

Hope above information is helpful to you...
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