Why is Ireland the right choice for Indian Pharmaceutical workers?

Why is Ireland the right choice for Indian Pharmaceutical workers?

Dispensing medication is not the only job of pharmacists, since over the years their role as evolved into something much more. Apart from ensuring the safety of their patients, pharmacists today are taking over the roles of medical counsellors, educators and advocates, who are focused on improving the healthcare facilities at a low rate, thus ensuring efficient pharmaceutical strategy.

The pharmaceutical industry is one of the highest contributors to global GDP, increasing by $100 billion from 2017, to over $1.2 trillion in 2018, according to the Global Use of Medicines report from the IQVIA Institute for Human Data Science. The global market is expected to grow by 4-5% CAGR, reaching $1.5 trillion in the upcoming years. In December 2019, on moving annual total (MAT) basis, total industry growth was calculated to be at 9.8 per cent, price growth 5.3 per cent, new product growth 2.7 per cent, and volume growth two per cent year over year.

The  pharmaceutical industry in India is one of the largest in the world. India ranks 4th globally in sales volume, boasting a growth rate of 13% per annum/ Almost 70% of the domestic demand for bulk drugs is fulfilled by the Indian Pharma Industry. India produces nearly a quarter of global generic drugs and is the largest producer of active pharmaceutical ingredients

According to the Central Bank, exports from Ireland topped 446.2 billion Euros in 2019, which was 50 billion more than 2018. During the first 9 months, pharmaceutical companies accounted for 62% of exports abroad. The country houses 9 of the 10 world’s largest pharmaceutical companies. Its English speaking population, business and tax-friendly environment, and educated work force act as attractive factors for international pharmaceutical corporate to base there.

With the world’s lowest corporate tax rate at 12.5%, Ireland is a desirable location for active businesses in Europe and around the world, thus making Ireland top choice for multinational companies. The pharmaceutical industry employs more than 25,000 people directly and 25,000 more as service providers in the sector. Its geographical proximity to European markets makes it an attractive proposition for most Indians to come and contribute to the industry. Five of the world’s eight top-selling drugs are produced in Ireland, thus making it the world’s largest net exporter of pharmaceuticals and a globally recognised centre of excellence in pharmacy. US companies contribute majorly to the Irish Pharma industry, with many large US Pharma companies owning multiple premises around Ireland. US companies like Johnson &Johnson, Pfizer, MSD, Amgen inter alia are said to employ over 19,000 people within Ireland, thus further strengthening the job prospects for immigrants in the nation.

Nysa follows a unique approach to investment, business and skilled worker immigration, owing to its customized client-specific solutions which are multi-disciplinary in nature. The company has various in-house country/program related specialists with expertise sprawled across decades and excellent track records.

Nysa Global is at the forefront in India in best understanding the most viable migration opportunities available to the South Asian market. The company partners with immigration specialities, attorneys financial analysts and other due diligence professionals to ensure that the economic as well as the immigration processes are the most efficient possible or our clients. For more information, please email directly to contact@nysaglobal.com
 

 

 

 

 

 

 links used:

https://www.ibef.org/industry/indian-pharmaceuticals-industry-analysis-presentation

https://www.irishtimes.com/business/economy/pharmaceuticals-set-to-remain-key-factor-in-irish-economy-central-bank-says-1.4170849

https://www.innopharmaeducation.com/news/why-ireland-attracting-the-worlds-top-pharmaceutical-companies-and-how-you-can-benefit

 

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