Pharmaceutical Industry Expects to create 45000 more jobs in India in 2015
Pharma professionals addresses the key issues at the IIHMR University’s National Seminar
Editor’s Synopsis:
· IIHMR University organized a National Seminar on Perspectives in Pharmaceutical Industry: Response of Pharma Education
· Indian pharmaceutical market to grow by $55 billion by 2020
· Industry speaks, specializations required at the nascent stage
· Talks to create collaborative links between Pharma Industry and Academia
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Jaipur, 20 December, 2014: India’s
globally recognized and leading healthcare research institutions’ of
the country, IIHMR, organized a National Seminar on Perspectives in
Pharmaceutical Industry: Response of Pharma Education. The event was
graced by many Pharmaceutical Industry experts, Principals and Directors
of Pharma Colleges of Rajasthan and neighboring states. 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.
As
according to Mc Kinsey report of India Pharma 2015 – Unlocking the
Potential of the Indian Pharmaceutical Market, the Pharma industry has
immense opportunities and has a projected market growth of USD 24
billion by 2015 and USD 55 billion by 2020. Through discussions by the
Pharma Industry experts it was evolved that 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.
Dr.
B.P Nagori, Vice President- Central APTI, President IPA, Rajasthan,
said, “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.
This seminar was conducted to initiate a dialogue between the Pharma
Industry and the Academia to bridge the gap and impart relevant
knowledge which will be sustainable in the changing conditions.”
Brig. S. K. Puri, Advisor, IIHMR University,
said, “For academia, it is indeed 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 that has been appreciated by various
organizations globally as well as nationally.”
Dr. Nagori
also suggested in his conversation that, “A support system is needed to
ensure a focused involvement of both academia and industry. Academic
institutions should develop systems and procedures to ensure that
industry expectations are met without any compromise on academic
aspirations. Industry should give a fresh look to its R&D efforts
offered by the academia. Industry should begin interacting with
researchers at the stage when they are doctoral students through
industry based projects. Industry PhD’s should be teaching in classes
since they bring in real world experiences. Apart from classes,
biotech/pharma/healthcare industry needs to be on campus with clear
offerings for internships. It is also specializations at the B.Pharm
level in Industrial Pharmacy and Community Pharmacy. It is observed that
there is a major disconnect in the academia output vis-a-vis industry
expectations, hence its is evident that students should be given soft
skills training and should be trained for employability. Industries
should conduct large scale collaborative projects with the students in
research institutions as well. We suggest to the Pharma Academia that
students need to be groomed as per their areas of interest at the
graduate level.”
The
seminar concluded with key aspects being discussed such as, Changing
Global Regulatory Environment, Opportunities and Challenges in
Pharmaceutical Industry, Collaborative Links between Pharma Industry and
Academia for Fostering Mutual Growth and Development, Expected Changes
In Pharmaceutical Industry 2015 - 2020 & How Educational
Institutions Should Gear Up to Meet the Challenges.
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