Analysts at Ken Research in their latest
publication “India
Online and Offline Pharmacy Retail Market Outlook to 2025 - By Organized and
Unorganized; By Standalone and Hospital based Pharmacy; By Product Category
(Prescribed Drugs, OTC Drugs and Non-Pharmaceutical Goods) and Therapeutic Class“
expect that the pharmacy retail market in India will continue to grow with the growth
of online pharmacy, increase in number of hospitals, growth in chronic diseases
and high demand for OTC drugs.
The market is expected to
register a positive CAGR of 8.6% in terms of revenue during the forecast period
FY’2018-FY’2025. The revenue generated by stand alone pharmacies is expected to
increase at a CAGR of 10.9% during the period FY’2018-FY’2025, while the
industry revenue generated by hospital based pharmacies will grow at slower
rate of 5.5% during the same period.
The
growth of online pharmacy will result in the growth of the overall pharmacy
retail market in the country as it will increase the accessibility of drugs not
just in urban areas but in the rural areas as well. The northern region is
expected to grow at the fastest rate of all the regions registering a seven
year CAGR of 12.1% from FY’2018 to FY’2025. This is primarily due to rapid
expansion of organized pharmacy retail chain in the region.
Growing
demand for E-Pharmacy:
Online pharmacy retail market is one of the largely untapped vertical in the
e-commerce space, which has been gaining attention of the government as well as
investors in the last 2-3 years. The market is expected to be in its nascent
stage in the next five years as a lot of disruptions such as IOT and AI are
expected to impact the market in the coming years. The Gross Merchandise Value of
drugs sold at online pharmacy retail website is estimated to grow at a CAGR of
39.1% from FY’2019 to FY’2025.
Shift
towards M-Commerce: In future, it is anticipated that the number of
mobile phone internet users is expected to grow from 391 Million in 2018 to more
than 500 Million in 2023. This will help the e-pharmacy market to grow in the
future as more and most of the e-pharma websites will also be launching their
mobile applications as well. This will help in improving the accessibility of
drugs in the market for the customers.
Growth
of Organized Segment: Pharmacy retailing is expected to become more competitive with
the anticipated entry of number of players in the coming years. Players that
have already forayed in this segment include Medicine Shoppe, Apollo (into
pharmacies), Global Health line Pvt Ltd, and SAK Industries' led CRS Health.
Zydus Cadila and Cipla too are rumored to have plans for this segment. Health
& Glow (RPG Group) in the southern India is already in this area though it
is not essentially into pharmacy retailing, but more of the health and beauty
care business.
Keywords:-
India
Pharmacy Retail Market
India
Pharmacy Industry
India
Pharmacy Retail Market Revenue
India
Pharmacy Retail Revenue
Online
Pharmacy Sales India
India
OTC Drugs Market
India
Pharmacy Retail Market Size
India
Generic Drug Market
India
Analgesics Drugs Market
India
Pharmacy Retailer in South
India
Pharmacy Retail Market Review
M-Pharmacy
Market in India
Pharmacy
Retail South India
India
OTC Drugs Market
India
Generic Drug Market
Apollo Pharmacy Market Share
India Patented Drug Market
M-Pharmacy Market in India
Apollo Pharmacy Market Share
Pharmeasy Revenue India
India Medlife Pharmacy Market
Key Segments Covered:-
By Type of Retail Format
Standalone
Pharmacy
Hospital
Based Pharmacy
By Market Structure
Organized
Market
Unorganized
Market
By Product Category
Prescribed
Drugs
OTC Drugs
Non
Pharmaceutical Drugs
By Therapeutic Class
Anti-Infectives
Cardiovascular
Gastro
Intestinal
Anti
Diabetic
Vitamins,
Minerals and Nutrients
Respiratory
Pain and
Analgesics
Dermatology
Neuro
Gynecological
Others
By Generic Drugs
Branded
Generic
Generic-Generic
Key Target Audience
Pharmacy
Retail Companies
Pharmaceutical
Companies
E-Commerce
Companies
Time Period Captured in the Report:-
Historical Period: FY’2013-FY’2019
Forecast Period:
FY’2018-FY’2025
Companies Covered:-
Apollo
Pharmacy
Medplus
Emami
Frank Ross
Fortis
Wellness
Forever
Thulasi
Pharmacy
Guardian
Pharmacy
Sanjivani
Noble
Plus Pharmacy
Dhanvantri
Medicare
Viva
Chemist
Himalaya
Drug Company
Trust
Chemists
Guardian
Pharmacy
EasyMedico
Medlife
Netmeds
Pharmeasy
1MG
Sasta
Sunder
Myra
Easy
Medico
For more information, refer to below link:-
Related Reports:-
Contact Us:-
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
