Entrepreneurship Scenario after the Pharmacy Education_An Essay by Prachi Lad

Entrepreneurship means to make individuals who can take risk to go out start their own new business and able to create jobs not only for themselves but also for others. An entrepreneur means a person who can imagine some new oral hygienic, maternity, nursing or herbal product.

In this developing and globalizing world the pharmacy education is suffering from serious scrim and inadequacy. And in such situation Pharma company will never hug you for jobs, rather you have to become an asset for them for plain reason as how many candidates they will recruit for same drill i.e. sampling, analysis, formulation, and packaging? Pharma industry need creative brain to run on the path of success for correlative sakes and who are able to develop such products which are easy to handle and are effective also affordable and quality oriented and are able to fulfill all the consumers demand.

To shape your future as well as to provide employment to the graduates, we need to know what the scopes of entrepreneurship are. The pharmacy profession is not only a noble profession but also equally technical one and as a result of this pharmacy graduates has multiple scope unlike most of the other graduates.

The best option to become an entrepreneur is to acquire sufficient skills in whatever field; one is willing to work with but as a pharmacist the scope for being an entrepreneur is by owning a pharmacy, or an industry or an institution or an R&D lab.

A retail business is conventional alternative for entrepreneurs and offers enough scope for growth. The aim of the retail business has always clearly stated the importance of truly understanding the response and the desires of the consumers. And getting into the mind of consumers, who consumes the offered product and services. A retail pharmacy business involves the providing a prescribed medicines and OTC drugs to the consumers.

A retail pharmacy is the type of the business that traditionally known as the pharmacist or chemist shop. This profession not only provides medicine to the community but it also gives the advice to assist the safe and effective use of the medicine they provide. The retail business is a good option as India now a days is depending more on allopath.

As the retail business is widely grown in India the various scopes to entreprenet in retail pharmacy is also increased and that may involve the chain pharmacy shop, wholesale  pharmacy shop, hospital pharmacy shop, consulting pharmacy, home care pharmacy, regulatory pharmacy,  ambulatory pharmacy and generic pharmacy store.  

In the world of digitalization retail pharmacy business is also digitalized and individual can also entreprenet in to the E-PHARMACY business. They can provide medicines to the consumers by creating an online website and can entreprenet.

To entreprenet in to the pharmaceutical industries is good growth path as the India posses the enough natural and physical sources, required machinery, and mainly the man power. Entrepreneur in to drug development industry is the very crucial asset for complete eco system of the industry i.e. from research to the clinical stages.

Entrepreneurship in to pharma industries means to entreprenet either in to manufacturing industry or in to marketing industry. Pharmaceutical manufacturing industry means to synthesis or production of pharmaceutical preparation which is used in to the treatment of the patient. Manufacturing industry may involve the productions of bulk drugs or active pharmaceutical ingredient. An individual can entreprenet by joining pharmaceutical company, generic company, Franchises Company and many more.

Contract manufacturing is also a part of the pharmaceutical manufacturing industries. This field of the pharmaceutical industry provides the very large opportunity for fresh entrepreneurs. These are the small scale or a medium scale industry that serves the other companies on contract basis to provide complete services from drug development through drug manufacturing. There will be the large scope to new entrepreneurs to entreprenet in to the contract manufacturing as it growing on the rate of 20% per year.

Pharmaceutical Marketing industries means the one who provides the organized and complete information system for updating physician about the availability, safety, efficacy, hazards and the techniques for using medicines. Pharmaceutical market is also known as the MEDICO-MARKETING. They also include the sale of the pharmaceutical preparation by advertising. In this developing world many research concepts are transformed in to the medicine or in to the healing treatment and this information is progressively transferred to the health care system by the marketing companies. Thus, the marketing is the crucial element in to the pharmaceutical innovation. As the pharmaceutical marketing is the crucial element the pharma manufacturing industries spends far exceeds that of its research budgets. So there will be the huge scope for the entrepreneurs.

Research and development is the field of the pharmacy which consists of research or invention activity for the development of the new drug molecule or to know the new features of the existing molecule. When entrepreneur conducts the research and development, they can make systematic creative work, and then resulting a new science or thinking. And this resulting knowledge is then used to new formulated materials or an entire new product well as to alter or to improve the existing drug.

                

Research can be broken down into basic research, applied research, and development. Basic research aims to understand a subject completely and build knowledge relating to it. However it is not having a much more commercial as well as practical application. On other hand applied research is having more specific and direct commercial objectives to product or process. And applied research aims to determine the methods to fulfill the consumers or industrial requirement. Whereas Development is research that generates requisite knowledge and designs for production and converts these into prototypes.

The new innovation may include the new method for improving the efficiency of the existing drug or to invigilate new product. Research pharmacy not only includes the development of the present formulation but also invention of new medicine that can help in recovery of the patient or for faster healing of the patient’s problem.

To promote the health care of the developing India, the health education is very essential. And to provide education related to the health and the services an entrepreneur can own an institute which can do it. There is a need of pharmacy institution for the betterment of the status of pharmacy in future. Owing an institution and making better pharmacists will lead to the good future.

There is really a wide scope of entrepreneurship in the pharmacy field. Every field of entrepreneurship including pharmacy needs the skilled person. Start up can be helped by many partners but taking the business at heights of success needs skill. The various entrepreneurs can make a great future for themselves as well as other unemployed graduates.