Indian Institute of Health Management Research (IIHMR)sees that the pharma industry is expected to open up 45,000 job opportunities in 2014.

The Institute which organized a National Seminar on Perspectives in Pharmaceutical Industry: Response of Pharma Education, had a panel of experts from the industry, pharmacy colleges of Rajasthan and neighbouring states who highlighted that the metro and tier-I markets will make significant contributions to growth, driven by rapid urbanization and greater economic development. Rural markets will grow the fastest driven by step-up from current poor levels of penetration. The hospital segment will increase its share and influence, growing to 25 per cent of the market in 2020.

The seminar was conducted by IIHMR University in association with Association of Pharmaceutical Teachers of India (APTI) Rajasthan State Branch and Indian Pharmaceutical Association (IPA) Rajasthan State Branch.

Quoting the Mc Kinsey report of India Pharma 2015 – Unlocking the Potential of the Indian Pharmaceutical Market, experts said that the pharma industry has immense opportunities and has a projected market growth of US$ 24 billion by 2015 and US$ 55 billion by 2020.

 “As per the PwC study Indian pharma Inc. the industry is likely to be in the top 10 global markets in value terms by 2020. The overall credit for this development goes to growth factors such as new market creations, growth in the SME sector, enhanced medical infrastructure, pace of innovation in business models, rising consumer incomes and many more. However, with these growing trends the industry is facing many challenges such as need for better talent in the industry, rising customer expectations and restricted discovery and developing process, ” said Dr. B.P Nagori, vice president- Central APTI, president IPA, Rajasthan.

According to Brig. S K Puri, Advisor, IIHMR University, said, the  academia has a challenge to transform the students into management professionals. Looking at the growth of the pharmaceutical Industry, we, at IIHMR, have availed a special management programme : MBA in pharmaceuticals management. Since the inception of this programme we have experienced keen interest of industry recruiters in our students. Our placement partners have also motivated us to generate best of the talents.”