Why Hire a PCD Company India
The international markets are undergoing a tectonic shift with developed countries trying to overcome long recession and emerging economies striding ahead to set the agenda. This change is also echoed in various domestic markets. With many of the larger economies now reaching saturation point or a collapsing economy, it is the developing economies that are emerging as strong markets.
The Indian economy are among these emerging markets. While the Indian companies are themselves creating a dominating position for themselves in the international market, the opportunities within the domestic market are becoming even more significant. In fact a PwC report projects that India will be among the top 10 markets in terms of value. PCD company India will be an important part of this forward charge.
The Indian Pharma Sector
The Indian market present a golden opportunity for any company looking for expansion. Not just Indian companies, many international companies are also now eyeing the Indian market for further expansion. Figures show that while Indian firms have created a bigger impact on global market through generic drugs, within the Indian markets it is the branded drugs that lead sale volumes.
This means that Indian markets today offer an expanding base of both volume and value. Given the slowdown in the international markets, the rise in Indian market cannot be ignored by any firm. In fact, India today has the presence of both big pharma as well as smaller global businesses. Unlike the past when India was seen more as a dumping ground, the Indian market is now among their most important markets.
But breaking into the crowded Indian market is not easy. This is why many firms are taking help from PCD company in India. Some of the reasons PCD pharma companies are now in heavy demand are:
Knowledge of the Indian market: Every market is different and the Indian market has its own character. It is very different from the more organized and formalized Western markets. For many Western companies this has always been a stumbling block when operating here. To compound this problem are the different logistics that apply to a pharma company.
This includes patents, certifications and laws that govern the sector. The lack of local knowledge can seriously hamper the development of building a business strategy. It can also lead to some erroneous decisions that can prove extremely costly. For instance, Indian laws on declaring patents can be very different, especially when applied to branded medicines. This directly impacts pricing decisions.
PCD pharma companies offer an insight into the local markets. With specialization in the pharma sector, the PCD companies understand the regulations that rule the market and the trends that affect its growth. For a foreign firm this insight can be invaluable.
Access to local distribution channels: Although the big urban centers of India offer the biggest market for pharma companies, the merging potential today actually lies in the Tier II and III cities with rural areas also expected to catch up in the next decade. However, this also offers one of the biggest challenges for international firms.
Since most international firms have only focused on bigger cities, their knowledge of these smaller Indian cities and towns is minimal. Their market penetration almost negligible. On the other hand, Indian companies — both big and small — have a well established market here.
PCD companies offer the ideal solution here. Since they are also involved in distribution, these firms have a well-developed relationship with chemists, stockiests, distributors, retailers, doctors and access to various distribution channels and warehouses. A PCD firm can help in easing the entry into an international market.
Insight into the buyer’s behavior: Like the market dynamics, the buyer’s behavior is also unique to every market. Foreign firms have a natural handicap in this area. Although the pharmaceutical field is not as effected by constantly changing trends, consumer behavior can still make difference when it comes to their reception of new medicines and treatments. A PCD firm is often the most economical and fastest way of gaining this insight.
Conclusion
With the entry of Indian markets expected to grow into one of the world’s biggest markets, interest has grown into its potential. However, entering and making a mark in the Indian market is not easy because of its unique market dynamics and regulation. A PCD company India offers the most effective and efficient means of achieving this.