A Recent NAPSRx Survey Shows Industry Growth at 7.2 in 2015 As CNPR Certification Pharmaceutical Sales Progam Reviews the Benefits of Becoming a Rep

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The continuing impact of patent expirations in developed markets, strong growth in emerging markets, and policy-driven changes in certain countries relating to drug reimbursement are key factors that will influence pharmaceutical industry growth during 2015. The pharmaceutical sales rep profession is a lucrative career and denotes a certain level of respect from industry professionals, as it’s also one of the highest paying sales positions in the United States.

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The global pharmaceutical market is expected to reach $1 trillion in 2015 and nearly $1.2 trillion by 2016. The market will increase at a compound annual growth rate (CAGR) of 3–6% during the next five years, slowing from the 7.2% annual growth rate that occurred during the past five years. Absolute global-spending growth is expected to be $210–240 billion between 2011 and 2015 compared with $251 billion between 2009 and 2014. There are many reasons why pharmaceutical sales positions are desired by many aspiring job seekers in the healthcare industry. This sales profession is a lucrative career and denotes a certain level of respect from industry professionals as it’s also one of the highest paying sales positions in the United States. To gain a better insight into the general earning potential of pharmaceutical workers, according to Salary.com median take home pay is $93,028 and can go well into the six figures, when you add up base salary plus commission.

"We are re-launching a national career center because we recognize that our industry is growing, and the needs of employers are changing far more rapidly than educational and training are for incoming reps," said Brad Sullivan, NAPSRX Marketing Director. "Our goal in re-launching the NAPSRX Career Center is to empower students to make themselves more attractive candidates for the pharmaceutical sales rep jobs they want to pursue. We are doing this by supplementing what students are learning in the CNPR Pharmaceutical Sales training program, assessing the skills they have now, illustrating for them the skills they're going to need, and providing students with access to the online courses as well as job openings that will quickly allow them to close those gaps."

The NAPSRX has been a leading voice in the industry, while encouraging universities and employers to do more to address the training of new sales reps. The NAPSRX with its CNPR Program has encouraged closer partnerships between education and pharmaceutical employers, research shows that less than half of entry level pharmaceutical sales candidates have ever taken pharmacology education, further highlighting the need for national online resources. Additionally, the NAPSRX Career Center will offer employers greater recruiting efficiency via a single point of access to a national pool of recent CNPR graduates who can easily be filtered by coursework, completed internships, skills, geography and more.

Extra perks include company car, trips, bonuses, and benefits such as medical, tuition reimbursement, retirement, 401k, and the flexibility of determining your own schedule. Furthermore, if you establish yourself as a successful rep, career track options will multiply and career advancement in this industry is inevitable. For instance, reps can transition to higher sales/marketing positions which may include managing product launches and/or other specialty positions with a higher pay grade.

U.S pharmaceutical/biopharmaceutical companies employ over a quarter of a million individuals and garner more than $200 billion in drug sales annually. With such astounding numbers in sales revenue, companies invest highly in their sales team, catapulting the need for qualified and industry trained candidates.

CANDIDATES WHO WANT TO BREAK INTO THIS CAREER

The CNPR® certification program developed by the NAPSRx® provides comprehensive training and education about the pharmaceutical sales industry. The CNPR is a federally trademarked certification you can earn by demonstrating the necessary knowledge in pharmacology, medical terminology, physiology, and regulations for selling pharmaceuticals. Pharmaceutical sales candidates who have this training will differentiate themselves from other individuals looking for open positions. Upon successful completion of the training each student will receive the Certification Mark of the CNPR®.

Individuals that are interested in becoming a Certified National Pharmaceutical Representative (CNPR) can contact the (NAPSRx) for more information or visit the website.

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Brad Sullivan
NAPSRx
+1 800-284-1060
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National Association of Medical Sales Representatives - NAMSR
since: 12/2013
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