Why Pharma Franchise Business Successful in India

The success story of the pharma sector began in 1970 when the patent act came into effect. Since then the pharma industry is growing at a large pace. The industry is boosted by several factors like cheap labour, affordable products, progressive customers, etc. Plus India's vast sea link makes it perfect to export products. This expanding market has brought a lot of opportunity for a franchise business. Along with companies, pharma franchise has also increased exponentially. The franchise business model brings a lot of opportunities. Many companies offer pharma franchise business. The success of the business will be discussed in this blog.

Current Status of Successful Indian Pharma Market

Before understanding the success of pharma franchise, let's see how the pharma sector is doing in the Indian Market. The companies had an excellent time when the Indian market opened for the world. Various companies came in the market and established themselves in India. After that the market expanded at the CAGR more than 15% India is a dense country population-wise, that is why the market is huge. If you have good products in your portfolio, then it is easy to get success and get a good profit margin. Below are some of the facts which will describe the current status of the pharma market in India.

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• Indian market is growing at 9.4% each year.
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• By volume, India stands 3rd and by value, India stands 13 in the global pharma industry.
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• Generic medicines hold around 71% of the total pharma products in India.
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• Globally Indian pharma industry provides 50% of vaccines, 40% of generic demand in the USA and 25% of all medicine in the UK.
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• Indian pharmaceutical industry was valued at US$ 33 billion in 2017.
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• 415 new products were approved in 2018.
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Reasons for the Great Success of Franchise Business

Indian Market is huge. It is impossible to for any company to reach out to everyone. You need a marketing team, but even they will lack because of the inexperience and lack of contacts in the region. And that is where the importance of the pharma franchise has grown higher. These franchise partners are locally based, have good contacts and knowledge of their territory. These factors boost sales. A good sales is what the company need. There are many factors because of which many individuals are choosing the franchise business.

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• As a franchise, your sole responsibility will only be to market the product. Marketing doesn't require much of the capital.
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• Maintenance cost is also low. You just need to maintain the warehouse or storage house so that the environment doesn't affect the products.
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• You will get your desired region of the business.
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• There are plenty of option available for you to associate with.
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• The market is huge as people are getting aware of their health and people are looking for the quality and affordable products.
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• You get marketing support from the partner company. Also, the company provides you with monopoly rights of doing business.
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About Biofield Pharma

Biofield Pharma is one of the experienced company which is offering franchise services since 2000 in various region. We have more than 300 products in their portfolio. Segments of the products company deal in multivitamins, minerals, anti-infectives, antioxidants, anti-allergic, hormonal management, painkillers, etc. We provide products in the various range which includes tablets, capsules, syrups, dry syrups, powder, etc. We sensed the opportunity in the pharma sector very early on, and till then we have established a great market in PAN India.

Conclusion

Indian pharma business is a great sector to invest in. Even in the recession, the pharma sector never slows down. Contact Biofield Pharma to get started in the business.

Mobile: +91-9216300566, +91-9216300166

Email: info@biofieldpharma.com