Pharmaceutical Marketing Management and Career Scopes

05Dec,2020
By Editorial

Pharmaceutical Marketing Management is a specialization that combines both the study of basic and pharmaceutical science with the marketing and management skills of the pharmaceutical products. It provides individuals a bright career in pharmaceutical sales, management, marketing, and related fields within the health care industry.

 

Read here: Pharmacy Career and Job Prospects in India

The Pharmaceutical Management course educates students about the industry that deals with the fitness and chemical sciences with a major focus on the uses of pharmaceutical drugs in all the possible and safe ways. It makes students understand the crucial aspects related to the Pharmaceutical industry such as the production management of pharmaceuticals, Brand management in pharma, pharmaceutical marketing, finance, and economics in the pharmaceutical field, etc. The course provides a combined prospectus of the technical knowledge of the pharmaceutical industry along with the management procedure of the industry rooting from economic planning to the marketing and sales in the pharmaceutical industry.

A further career in pharmaceutical management also gives you the opportunity to works in the field of drug development, research, discovery, pharmaceutical administration, etc along with advanced pharmaceutical management and business concepts in the pharmaceutical industry.

Objectives:-

The primary objective of these courses under the Pharmaceutical Marketing Management is to build professional well prepared to manage the Pharmaceutical sector. It develops the management skills of the students and makes them understand the planning & running control techniques along with the consultancy abilities and problem-solving performances.

After successfully completing the course in the field of pharmaceutical management, the candidates can get a managerial position in the pharmaceutical industry.

Eligibilities Criteria:

For UG courses:

  • To get admission into the UG Courses in Pharmaceutical Management, the candidate needs to complete the 12th standard from any recognized board. The selection process may differ from institution to institute but in general, the universities have set criteria of considering the minimum mark secured by the candidate is at least a 50% in aggregate in the qualifying examination.

For PG courses:

  • The student who is interested to apply for the postgraduate courses in pharmaceutical management needs to secure a bachelor’s degree in the same field from any recognized college or university.

Scope in Pharmaceutical Management Field:-

  • The pharmaceutical industry has been increased rapidly over the past years. The total sales of pharmaceutical medicines have been reached 1.1 Trillion USD worldwide in 2019and are expected to reach about 1.6 trillion USD by the end of the year 2020. So it is clearly visible that there is an immense growing stage in the pharmaceutical industry. The major cause of the growth in the pharmaceutical industry islargely transforming global markets.
  • This sector has also spread its wings in India. It is expected that in 2021, India will take the lead in the ranking index of the pharmaceutical innovation hub. The government of India has taken all the necessary decisions which catalysts the investment by the public sector through the partnership and it will create a lot of job opportunities for the students in the pharmaceutical sector.
  • So from the above discussions, it is clear that the Indian pharmaceutical sector is becoming more feasible and attractive gradually to pursue a career in pharmaceutical management. Because the growth in any sector is directly proportional to the increasing demand for human resources and skilled employees.

Career Prospects in Pharmaceutical Management:-

For those who are willing to make a career in pharmaceutical management, first of all, you need to get into a course at the undergraduate or at the post-graduate level. There are numerous colleges and universities in India who are offering many pharmaceutical courses and the best job placements in top companies in the pharmaceutical sector.

Pharmaceutical management institutions in India basically focus to provide the best education about pharmaceutical management with the modern business concept.

Here is the list of courses at the UG & PG level to make a fulfilled career in the pharmaceutical management industry.

  • Diploma in Pharmaceutical Management
  • Post-Graduation in Pharmaceutical Management
  • Advanced Diploma in Pharmaceutical Business Management 
  • BBA plus Diploma in Business Administration (Pharmaceutical)
  • MBA in Pharmaceutical Industry Management
  • Master of Business Administration in Pharmaceutical Management Executive
  • Master of Business Administration in Pharmaceutical Management
  • Post Graduate Diploma in Pharmaceutical Management

Job Opportunities:-

  • The pharmaceutical sector comes with lots of good opportunities. Talking about the various opportunities in the field of pharmaceutical management, it is not only limited to the researcher, a scientist, drug inspector but also various job opportunities of management positions.
  • After completion of the course, students can find good job opportunities in different segments of the pharmaceutical industry. It includes working in government departments, various research institutions,hospitals, pharmaceutical universities, and some medical service providers.
  • It is being observed that the demand for management positions in Pharmaceutical companies is increasing day by day. Because the companies are needing a good number of skilled workers in the management of all activities.

Here are some popular job positions for students who are pursuing Pharmaceutical Management.

  • Market Research Analyst: This position is an important position in the pharmaceutical industry. The job responsibilities of this position are to search for business opportunities, researching about the client, and organizing the data in a structured way so that it will help the company in fulfilling their business goals.
  • Sales Manager: Sales Managers in the pharmaceutical field will be in charge of the sales and marketing department of medical equipment and medicines in the market. The responsibilities of this post are to improve the sale of pharmaceutical products.
  • Drug Inspector: The role of the Drug Inspector is a challenging one as it requires individualsto make sure that the drug that has been discovered is safe for consumption purposes. Drug inspectors are needed in every manufacturing company of medical products.
  • Store Drug Supervisor: The role of the Store Drug Supervisor is to maintain all the official records of the available and ordered medicine in the store, selling medical products along with advising consumers about the utility of the products.
  • Quality Assurance Manager: The role of the Quality Assurance Manager is a crucial one in a pharmaceutical company as it performs various quality checks at different stages of production. Then the quality assurance manager needs to verify the quality of the product.

Top Recruiting Companies inThe Field of Pharmaceutical Management:-

Followings are some top recruiters in the Pharmaceutical Management field in India.

  • Ranbaxy Laboratories
  • Pfizer    
  • Abbot    
  • Alkem
  • Dabur India
  • Sun Pharma
  • INTAS

Salary Structure in Pharmaceutical Management Industry:-

The students after completing their studies in the field of pharmaceutical management can expect an average pay scale ranging from 4 lakh to 8 lakh per annum. But the salary package depends upon various factors like the skill set of the student and the college from which they were passed out. After completing a certain year of working experience, you can boost the salary package to another level.

Read also: Pharmaceutical Technology Colleges in India

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