Scope for Pharma Startups in India

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Pharmacy profession is an integral part of our healthcare system and it has shown a notable growth since last few years. Though there is a major competition in pharmaceutical companies in India, there is a wide scope for new pharma startups. Again, don’t get confused between a startup and a multi-national pharmaceutical company. Both terms are different from each other.

Startups mostly focus on a product or service that can create a positive impact on existing problems in an innovative and effective way. When you think of a pharma startup, you get a wide range of ideas to improvise the existing system of pharma industry. One of the most successful examples of a pharma startup is e-pharmacy. What could be more convenient than having your medicines delivered on your doorsteps with just a few clicks? Starting from pediatric to geriatric and from acute to chronic, you can get almost all classes of medicines at one platform.

Here, the problems that most of the people face while buying a medicine are taken into consideration and the main focus is put on solving these problems in a more efficient and unique way. Additionally, the pandemic situation is working as a driver for market growth e-pharmacies in India. And not only e-pharmacies but also there are several other startups like AI enabled apps and software’s, Medical devices, mobile pharmacies etc. which had a positive impact on there market growth during pandemic. There is a concept of ATM pharmacy in several other countries, and is one of the successful and innovative pharma startup ideas.

Knowing the importance of pharma sector in upcoming years, investments and funding’s for pharma startups has shown a rise since last few years. Also, there are several government policies and campaigns organized by Indian government to support and attract Indian population towards startups. Additionally, you can enroll for some free startup workshops and certifications so that you can learn all aspects of a startup.

There is still a lot of research and development to be done on pharma startups in India as compared to other countries. And this is one of the plus points for growth of pharma startups in India. So if you are from a pharma/healthcare field and looking for a profitable career other than traditional job profiles in pharma then you should think of a pharma startup at least once.

This was my article on scope of pharma startups in India. I hope you guys liked it. Please do follow, share and subscribe to my blog for more of such content. Thank you!!!

 

 

 

 


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