Why Pharmacy Is a Rewarding Career
With the demand for a high-quality life and advancing technology, the pharmaceutical industry has grown tenfold in the past decade. A report states that the pharmacy industry in India is projected to reach $55 billion at a CAGR of 22.4% by the last quarter of 2020. Due to this, building a career in pharmacy is a great option with a strong scope with many opportunities.
In this article, we will go over the benefits a student receives by opting to pursue a PGDM course in Pharma. However, before we delve deep into the benefits, let’s first start with the basics.
What Does The Pharmaceutical Industry Entail?
The pharmacy industry involves far more than just drugs and medicines. Due to the evolving and advancing technology, there is always something new to discover in this niche.
With the sole focus of pushing healthcare forward, all the activities and research carried out in this industry are driven by the fundamental need to reduce suffering and extend the length and quality of lives.
Hence, pursuing a PGDM in Pharmaceutical Management and building a career in this industry is extremely rewarding. To know more about the course and other details, read our guide to PGDM in pharmaceutical management.
5 Top Reasons to Choose PGDM in Pharmacy
Now that you have an understanding of what PGDM in Pharmacy involves, here are the top 5 reasons why you should choose to pursue this course.
1. Job Variety
When it comes to building a career in the pharmaceutical industry, theres no one-size-fits-all. Every sector in this industry requires a very specific form of expertise, skill and knowledge, hence, a variety of job paths are available within this field.
During your course, you can analyse which area of expertise appeals to you most and where your strengths lie. Based on this, you can build a lucrative career for yourself.
Here are a few departments from this industry that you can consider:
This area is responsible for testing various products and setting and ensuring compliance of standard for product manufacturing.
This department monitors the entire manufacturing process to ensure all the norms and processes are up to code and standards.
This area is right for you if youre looking to work in a warehouse setting, wherein you will need to ensure smooth functioning and operational flow.
As the name suggests, this department is responsible for operating the machinery that creates various products.
Research & Development
Employees in this area work in the labs to test and improve existing medications and are also responsible for creating new ones.
This niche in the industry is responsible for the delivery of products, providing insights, along with science-backed assistance.
While this list is certainly not all-inclusive, it surely paints a picture of how extensive this industry is. Hence, regardless of your background being in maintenance, quality, engineering, IT, or other areas, there will be a place for you here.
2. A Challenging Yet Rewarding Career
Simply put, medical care is not less expensive. Hence, the pharmaceutical industry is constantly focusing on developing new products and technology that can help eliminate some of the high costs of healthcare. They also aim to provide patients with treatment beforehand to ensure they can improve the quality of life faster. Essentially, every professional working in this industry is contributing in some form or the other to improve the lives of others by treating diseases, illnesses, and more.
Hence, regardless of what job role you choose, you will be directly involved with improving the health of those around the globe. The sense of reward that comes from this is without a doubt extremely fulfilling and unique.
Of course, none of this comes without challenge, as youve to constantly look for new solutions and be in sync with the latest technological advancements around the world. Hence, you must be prepared to always be on the edge and use the power of creativity and critical thinking.
3. Great Pay and Benefits
It goes without saying that these varieties of job positions come with many salary benefits. According to PayScale, the average salary of employees in the pharmaceuticals industry is ₹530,000.
Of course, the pay varies based on the role and department you choose, your experience, skillset, education, location, and other aspects. Hence, with dedication and hard work, you can advance to high positions and high pay benefits.
4. Groundbreaking Research
The industry is constantly working on breakthroughs in the science, medicine, and therapy fields. Hence, youll continuously be part of the research for new and innovative medicines and solutions that will keep people happy and healthy.
It goes without saying that the industry will never stop trying to revolutionize the way diseases are treated. Hence, not only will you have a secure job, but will be constantly involved in finding new and improved ways.
5. Keep Evolving
Regardless of whether youre working in a job role at the forefront or behind the scenes, the industry demands innovation. As there are constant changes and improvements in the technology used, you, too, will grow with the industry. Hence, theres no such thing as stagnant in this career.
In this article, we went over various reasons why building a career in the pharmaceutical niche is rewarding. There will never be a day wherein youre not challenged and will always be part of the next big thing in the industry. Additionally, you will be directly contributing to making the world a better and healthier place to live in.
That is definitely something to admire.
Apply to PGDM in Pharmaceutical Management at ASMs IMCOST
By opting to pursue PGDM in Pharmaceutical Management, you will learn about various theories and practices needed to perform strategic analysis. At IMCOST, we focus on developing the leadership skills of our students, along with enhancing their soft skills. Moreover, graduates from our institute develop strong analytical and management skills that are highly in demand in the pharmaceutical world. So, contact us today to start your journey in this evolving industry.