In one of our previous posts, we discussed with you about the education opportunities in the pharmacy sector. But what after completing the education? Hence in this post we are discussing the best career opportunities in the pharmacy sector.
The Pharmaceutical Industry has seen exponential growth in the last two years. Before 2020 the sector was growing at a very good pace, but post 2020 it just skyrocketed.
EXPLAINED Education in pharmacy industry
If you have studied or want to study – Diploma in Pharmacy, Pharm D, B Pharm, M Pharm or PhD in Pharmacy, then you must read till the end for insights on the career opportunities in the pharmacy sector.
Once you complete a diploma / degree in Pharmacy related education. You can start working in some of the various roles listed below:
- Sales Representative
- Research Scientist
- Pharmacists
- Laboratory Analyst
- Regulatory Specialist
- Drug Manufacturer
- Pharmaceutical Data Analyst
Sales Representative
Spotting a medical sales representative at a doctor’s clinic is not so hard. For instance they always carry the backpack with them. Being a sales representative is one of the most common job in the pharma field.
As a salesperson you must possess a deep understanding of the product. In addition, they also need to maintain a good relationships with the clients. Medical Representatives regularly educate the medical professionals about pharmaceutical products.
The job requires extensive travel and a strong commitment, owning to frequent trade shows, seminars, and client visits. Therefore is considered one of the best paying jobs in the industry. The initial salary may be less but with experience, you can expect good financial growth over time.
How do I become a medical sales representative in India?
In order to become a Medical sales rep in India, you must study biology or chemistry in 12th standard. After completing 12th you can choose to pursue a UG degree in Pharmacy such as B Pharm or pursue BSc (Bachelor of Science) degree in Physics, Chemistry or Biology subjects.
It is also important to choose a segment in the medical sales field. There are various segments such as pharmaceuticals, biotechnology, medical equipment, etc. A medical sales representative can earn an average salary of Rs. 2.7 lakhs in India, the pay scale increases with experience. The field is also known for paying out handsome commissions above the fixed salary.
If you are good at communicating and convincing people then a medical sales representative will be the right choice for you.
Research and Development
Since drug development is directly related to humans, it is crucial to focus on Research and Development. During the Covid Pandemic, we realized the importance of drug research and development.
Many Indian pharmaceutical companies invested heavily in Research and Development. In the coming decade research and development of advanced drugs and vaccines are going to be crucial.
As a research scientist, you need to perform experiments with the purpose of creating or discovering new medicines. Also, need to conduct studies to refine and to determine the potential side effects or reactions of any new drug. Being a research scientist is very demanding.
Educational eligibility is pursuing science in school and narrowing it to pharma-related courses in college. The final degree is a doctorate or can be a PhD after pursuing diploma, bachelor’s, and master’s degree.
Strong attention to detail attitude accompanied by a sound knowledge of chemistry and biology can make you a good research scientist. As a research scientist one can earn basic salary of Rs. 4 lacs per year. This can go up-words to Rs. 16 to 20 lacs depending on the experience and the company.
Pharmacists
There was a time in India when anybody could open a pharmacy(medical store) but due to government rules and regulations it became mandatory to get a formal education in pharmaceutical sciences.
Post completing the degree, the student can start his or her own pharmacy store. The pharmacy profession is vast and there are different types of pharmacists.
- Specialty Drug Pharmacists
- Hospital Pharmacist,
- Log Term Care Pharmacist,
- Industry Pharmacist and Drug Safety Officer
As a pharmacist one can earn Rs. 2.5 lacs to 3 lacs in an entry-level job. An experienced pharmacist can earn around Rs. 7 lacs per year. If you own a pharmacy, then the earning capacity expands to great extent.
Laboratory Analyst
Laboratory analysts are responsible for running tests, analyzing results, assist in conducting research in new drug development. Therefore, Laboratory Analysts are very important in pharmaceutical industry.
In order to become a laboratory analyst in India, It is important to complete 10+2 from Science background and then one should opt for formal education in a field related to laboratory technology that helps you specialise in one specific area, such as microbiology, clinical pathology or bacteriology molecular biology, etc.
As a student you can look for Certification programs after completing a degree program, certificate programs are short-term courses that can help you stay updated with the latest trends in the field.
Popular colleges in India to pursue courses in Laboratory Analyst
- Kerala Institute of Medical Science, Thiruvananthapuram
- Post Graduate Institute of Medical Education and Research, Chandigarh
- All India Institute of Medical Science (AIIMS)
- Punjab Technical University, Kapurthala
- The University of Medical Science, New Delhi
The average salary for a lab analyst in India is Rs. 3 lacs per year. Nevertheless, it can up as high as Rs. 10 lacs a year, depending on the company and the work experience.
Regulatory Specialist
Let’s assume that you are good at critical thinking and can do really well in understanding and executing government rules and regulations. You are a perfect fit as a regulatory specialist.
Regulatory specialists assist medicine companies with getting approval for their line of products. You can lend your expertise to scientists on how to obey regulations while developing medicines and at the same time consult with government officials on how to make substances or devices compliant with the policies.
As a student you can choose a diploma, PG Diploma or bachelors degree in Regulatory affairs. These courses are taught by very few colleges in India. Therefore, many students prefer to go abroad for regulatory affairs education.
Your networking and management skills are tested well in this role. The job description may sound tough but the role is equally rewarding, professionally and personally. The average starting salary is around 5.5 lacs and the highest average salary is Rs. 15 lacs. The Regulatory Specialist is one of the best paid role in the pharma industry.
Drug Manufacturer
A professional who facilitates the industrial production and distribution of medical products. Produce large amounts of medicines or pharma devices and facilitate transport to pharmacies, medical supply stores and hospitals.
As a drug manufacturer one is supposed to have sound understanding of the pharmaceutical business. It is important to understand the chemistry, biology, and elements of supply chain management.
There is no fixed education or a degree required to become a drug manufacturer, however, if you get a degree in relevant field or find a person who understands the core of drug research, then you can work as a partner.
Drug manufacturing is a large-scale business and hence it requires a good amount of investment as it requires a sizeable amount of space to set up the manufacturing facility and hire researchers, and medical staff. Understanding government rules and regulations is very crucial.
Since Drug Manufacturing is a business, you must do a lot of market research before venturing into the business. On a monetary front the business is very rewarding.
Pharmaceutical Data Analyst
Data is the new gold!! Heard it before? Chances are you have heard it before and you will continue to hear it. Everything revolves around data. Therefore data analysis is amongst the hottest jobs in the world.
The pharmaceutical world is no exception to that. Pharmaceutical companies are trying their best to utilise the available data in order to make the best decision in drug discovery or distribution.
The covid vaccines were discovered in record time and the success rate is largely attributed to technology and the availability of data on large scale.
Some of the best use cases for data analysis are –
- Increasing the success rate of clinical trials
- Cost reduction and increase in drug administration
- Speeding up the drug discovery and development
- Improvement in employee awareness
If you are a graduate of a pharmacy field and you are interested in data analysis and management, then you can do a course in data analysis. There are many online and offline courses that teach data analysis. According to surveys done by various websites, data analysts are highly paid professionals.
The average salary offered to data analysts is around Rs. 5 lacs. however, it can go above Rs. 10 lacs per year depending on the experience.
Pursuing a career in pharma industry is an arduous task but at the same time is a very gratifying career. If you are ready to take plunge then do visit our Career Library, and let us know your thoughts on this post in the comments section.