The seeds of the Pharmaceutical Industry of independent India were sowed as late as the late 50s and the early 60s. The growing therapeutic requirements and the booming population resulted in shortages for affordable medicines in the local markets; India’s nascent Pharma Industry flourished in this phase and quickly began filling the need for cheap and effective medicines. Local companies played catalysts in the fast growth of the Indian Pharmaceutical Industry. The sale of generic medicines was on an all-time high – something MNCs failed to achieve while importing medicines to India.
After conquering the Indian market and making substantial progress, it was time for the Indian Pharmaceutical Industry to spread its wings and conquer the international market. Pharmaceutical Supplier in India, by that time, understood how challenging it was to export medicines to developed countries; but they went through with it anyway. After decades of trying, it was mid 2000s when the industry tasted success in a huge way, when up to half of all revenue was generated from exports of antibiotics and generic drugs!
Factors that made the Indian Pharmaceutical Industry a Success in the Export Sector:
Identifying the ‘Selling Market’: It is only after years of research and gathering insights, Indias Pharmaceutical Exporter mastered the art of narrowing down that ‘perfect selling market’. Countries such as Russia, UK and USA were identified as potential markets for supplying generic drugs.
Market Size: A typical Pharmaceutical Supplier in India knew his market size very well. This includes: having knowledge of the diseases those countries were most affected by; full statistical research of the age group of people contracting those diseases; rate of the most expensive drugs in those countries; and, most importantly, the average income of the people in their respective selling markets.
Export-friendly Packaging: Indian Pharmaceutical Exporters are well aware of the fact that locals of their export markets would never accept packaging that has an Indian touch to it. The taste of those people were studied and discussed in great detail with package designing agencies. Selection of color scheme, illustrations, fonts et al used in the packaging designs of products played a huge role in the previously stated success.
Oboi Laboratories is a rapidly progressing pharmaceutical entity, engaged in the manufacturing of international quality pharmaceutical formulations under WHO-GMP guidelines.
Please visit http://www.oboilabs.com/ to learn more.
After conquering the Indian market and making substantial progress, it was time for the Indian Pharmaceutical Industry to spread its wings and conquer the international market. Pharmaceutical Supplier in India, by that time, understood how challenging it was to export medicines to developed countries; but they went through with it anyway. After decades of trying, it was mid 2000s when the industry tasted success in a huge way, when up to half of all revenue was generated from exports of antibiotics and generic drugs!
Factors that made the Indian Pharmaceutical Industry a Success in the Export Sector:
Identifying the ‘Selling Market’: It is only after years of research and gathering insights, Indias Pharmaceutical Exporter mastered the art of narrowing down that ‘perfect selling market’. Countries such as Russia, UK and USA were identified as potential markets for supplying generic drugs.
Market Size: A typical Pharmaceutical Supplier in India knew his market size very well. This includes: having knowledge of the diseases those countries were most affected by; full statistical research of the age group of people contracting those diseases; rate of the most expensive drugs in those countries; and, most importantly, the average income of the people in their respective selling markets.
Export-friendly Packaging: Indian Pharmaceutical Exporters are well aware of the fact that locals of their export markets would never accept packaging that has an Indian touch to it. The taste of those people were studied and discussed in great detail with package designing agencies. Selection of color scheme, illustrations, fonts et al used in the packaging designs of products played a huge role in the previously stated success.
Oboi Laboratories is a rapidly progressing pharmaceutical entity, engaged in the manufacturing of international quality pharmaceutical formulations under WHO-GMP guidelines.
Please visit http://www.oboilabs.com/ to learn more.
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