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Future of Ayurvedic PCD Pharma Companies
The herbal pharma business in the international market has been growing steadily in the last few years. The two main contenders here are Chinese and Indian companies. However, Indian companies are still far behind their Chinese counterparts in the market penetration. However, with demand for natural medicines likely to increase, Indian pharma sector must meet every challenge in its path.
Future of Ayurvedic PCD Pharma Companies When it comes to natural or herbal medicine in India, Ayurveda is the main contender. Based on the ancient science of wellbeing, Ayurveda still has the potential to make a deeper penetration in the international market. The reason behind this is its strong presence in India and the support of Ayurvedic PCD pharma companies. So, what future strategy should we adopt:
Embracing technology The world is no longer what it was. Technology has changed the way we shop, think and live. This amazing tool can be the perfect game changer for Indian companies. Not only can we use it to connect with other, we can also use it to break prejudices against Ayurveda and educate the wider world on its benefits. One of the crippling challenges for Ayurvedic companies in the global markets is the lack of understanding about its concepts and application. But social media gives us an opportunity to put across our arguments and connect with people on a one-to-one basis. It is the perfect tool today for marketing and propaganda.
The other benefit lies in improving operations and collecting data. Mobile tech, cloud computing and analytics come in handy here. Mobile with wearable tech helps us to gather valuable data and cloud computing are the only way to manage much larger operations. Ultimately, these tools will also help analytics that Ayurveda desperately needs to find a connection with emerging usages, healthcare concerns and users.
Alliances and partnerships
When competing with conventional medicines, Ayurvedic PCD pharma companies are still dealing a daunting lack of resources and finances. The only way to counter that is by forming more alliances and partnerships. In fact, many Ayurvedic cosmetic companies have already formed alliances with some of the world's leading brands. These partnerships are vital in injecting much needed economic support. The investing companies can also serve as a gateway to the larger world, a collaboration of technologies that will ultimately benefit the domestic Ayurvedic industry.
Sticking to a strict regulatory regime
One of the hurdles that Ayurveda faces in the West is sanctions. Some of Ayurvedic formulations are frowned upon in the West. The problem becomes even more unmanageable because of the lax attitude in following regulations. We need a strict regulatory mechanism, one that is fashioned on modern concerns on healthcare. This will ensure that our own manufacturing standards remain in line with accepted norms on purity of natural medicines.
Improving manufacturing
To remain competitive in the global arena, we have to ultimately improve our own manufacturing processes. Concerns on compromised raw material, wastage of resources and other inefficient practices harm our own outlook. We need innovation and a larger government role to see that manufacturing standards and improved and maintained. Indian Ayurvedic PCD pharma companies can lead the global natural remedies sector. But we need to address our challenges before we take the top spot.
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