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8 Nov 2014

Pharmaceutical Market Vs FMCG Market : Quick Review

Pharmaceutical Market Vs FMCG Market

Pharmaceutical Market FMCG Market
Pharmaceutical is the field of science that links the health sciences with the chemical sciences and it is charged with ensuring supply of the safe and effective medicinal products to the patient. FMCG is (Fast Moving Consumer Goods) the term used for the fast moving consumer products those are used by consumers in day to day routine. e.g. Toothpastes, Personnel care products, Hair care products..
Pharmaceutical market deals with the supply or availability of drug or medicinal products used for diagnosis, prevention or treatment of specific medical conditions (Diseases).  FMCG market deals with the supply or availability of consumer products of the routine use.
The Pharmaceutical market is highly regulated market.

Manufacturing, Supply or Use of pharmaceutical products are regulated by national regulatory laws and authority in order to ensure specified quality & standards of such products  e.g. USFDA, CDSCO, GMP etc.

FMCG market is not regulated market.

There are no regulation apply in manufacturing, supply or use of FMCG products

Pharmaceutical goods are available on the retail drug stores and must be sold by qualified registered pharmacist with the prescription of Registered Medical Practitioner (Doctor) FMCG are available on the every general stores and shops and can be sold and purchased by any consumer without any interference of any authority or law
The concept of Consumer and Customer is different base on prescription of or OTC Pharma products.

In case of prescription drugs, the doctor is actual customer and patient is consumer, as the sale of drug is only affected by prescription of doctors.

In case of OTC drugs, the patient is customer as there is no prescription of doctor is required to purchase OTC drugs.

In case of FMCG, the buyer has freedom to purchase and consume the product.

There is no difference between customer and consumer.

Price of the pharmaceutical products are regulated by NPPA & DPCO. However, this regulation on price applies to some lifesaving drugs only. There is no regulation on the price of FMCG
Advertisements of Pharmaceutical Products are regulated by regulatory authority.

The prescription drugs cannot be advertised on social media like Television, Radio, and Public Places. The marketing of prescription is done through direct marketing where Medical Representative act as media between company and customer (Doctor)

However, OTC products can be advertised on social media.

There is no regulation of advertisement of FMCG that of pharmaceutical goods.

Although, some basic guidelines need to be followed as per national advertisement act.

 

 

 

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