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Pharmacy career immune to recession, economic downturns; offers diverse job avenues

Nandita Vijayasimha, Bengaluru
Saturday, December 14, 2024, 08:00 Hrs  [IST]

Pharmacy career is viewed as recession-resistant due to several key factors that contribute to its resilience during economic downturns. The ongoing advancement in pharmaceutical sciences and the increasing need for qualified pharmacy in healthcare contribute to the appeal of pursuing a career in this field.

While many industries face layoffs or cutbacks during a recession, healthcare professionals, especially pharmacists, tend to experience more job stability because of medication needs and healthcare services do not diminish significantly during economic slowdowns, stated pharmacy colleges in Karnataka in their bid to woo students to this career.

According to Dr Kaushik Devaraju, president, Karnataka Registered Pharmacists Association, pharmacies provide essential medications and healthcare services that remain in demand regardless of economic conditions. People prioritize their health, making pharmacists indispensable even during a recession.

Dr Shobha Rani Hiremath, director, Aditya Bangalore Institute of Pharmacy Education and Research, Bengaluru, stated, “Regardless of economic conditions, medications are required to manage chronic illnesses, acute conditions, and preventive care. Pharmacies remain essential as healthcare needs are constant and not tied to market fluctuations.”

On a similar note was R Raveendra, professor and head, Department of Pharmaceutical Chemistry MIT Pharmacy College, Mysuru, who stated that pharmacists are in high demand globally, driven by an aging population. Chronic conditions such as diabetes, hypertension, and cardiovascular diseases needed long-term medication management, thus increasing the demand for pharmacist. Hence it is a recession-proof profession, with a low risk of job loss.

With several opportunities for specialization from clinical specialties to manufacture, research and regulatory affairs, specialized roles in clinical pharmacy, are promising avenues for career growth, he added.

Regardless of economic conditions, people will always need healthcare services. This means the demand for pharmacists, who play a crucial role in dispensing medications, advising patients, and ensuring drug safety, remains strong. There is also a personal satisfaction and in being a part of improving patient outcomes to make a difference in the quality of patent lives. Pharmacists are essential in promoting public health, and advocating for patients' rights. There is a sense of community bonding to build strong relationships with patients, healthcare professionals, and the community, said Raveendra.

Noting that pharmacists can work in diverse settings, like retail pharmacies, hospitals, research institutions, and government agencies, Raveendra said there is flexible scheduling including part-time and remote work options for retail pharmacists and clinical pharmacists respectively. This ensures that if one sector faces challenges, others may remain stable.

According to Dr Kaushik Devaraju, healthcare industry, including pharmacy, tends to have consistent job growth due to the ongoing need for medical care, ensuring stability during economic downturns. Many countries prioritize healthcare funding and ensure that pharmacies remain operational during crises, such as economic recessions or pandemics, providing additional security to pharmacy professionals. Advancements in medicine, biotechnology, and personalized healthcare continue to create opportunities for pharmacists.

Dr Shobha Rani Hiremath said, Governments prioritize healthcare and therefore the demand for pharmacists remains stable. Pharmacists have versatile roles and the variety of jobs provide stability as professionals can adapt to areas less impacted by economic challenges. Pharmacists are increasingly involved in preventive healthcare, such as vaccinations, health screenings, and medication therapy management. Additionally, advancements in personalized medicine and pharmacogenomics ensure pharmacists play a critical role in tailoring treatments to individual patients, keeping their expertise in demand regardless of economic conditions.

 

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Mukund Kumar Dec 14, 2024 9:34 PM
I am a pharmacist, based in Dubai. I totally agree with the views expressed in this article. We see tremendous growth in the health care sector by way of ever increasing medical tourism, tertiary care, home care, patients counciling, especially those suffering from chronic conditions. We see a large influx of qualified pharmacist from all over the world. So the future of Pharmacists is safe and secured. Long live the Pharmacists, long live healthy people.
 
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