Although, the online pharmacy retail market is still in
the mature stage in the region and its popularity is growing as it has
augmented the ease of accessibility to drugs for the consumers. Such
organizations mainly operate in Tier 1 and 2 cities. They function on either
marketplace model or inventory based model. According to the report analysis, ‘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’ states that there are
several key players which are presently functioning in this sector more
actively for leading the fastest market growth and dominating the handsome
value of market share while advancement in the medical infrastructure,
providing several offers on the bulk purchase and improving the online platform
services includes 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,
Medlife, Netmeds, Pharmeasy, 1MG, Sasta Sunder, Myra and Easy Medico. Whereas, MedLife,NetMeds,
1Mg,PharmEasy, Myra, and SastaSunder.com are the major players in India
E-Pharmacy retail market.
However, the India Pharmacy retail industry has grown
more positively with the significant development in the technology of producing
the product and effective increase in the disposable income. Whereas, the
retail market of Indian pharmacy is at a developed stage. Many of the potential
players in this market are developing and establishing an online platform for
increasing the popularity of their product and increasing the value of revenue.
The industry of India Pharmacy retail revenue has grown more significantly as a
positive CAGR during the reviewed period of 2013 to 2019. The growth of this
market is assisted by the effective increase in the number of chronic diseases,
lower prices of generic drugs, increase in the number of hospital based
pharmacies, significant urbanization and growth of middle class populace and growth
in the OTC sector.
Additionally, the India
pharmacy retail market is exceedingly fragmented. Apollo pharmacy is the market
front-runner and has the maximum market share in the pharmacy retail market in
India on the basis of revenue in FY'2018. This was followed by Medplus, Emami
Frank Ross, Fortis, Wellness Forever, Thulasi Pharmacy, Guardian Pharmacy and
others.
Nonetheless, based on the
region, the market is spread across India meanwhile, the Southern part of the
economy has the maximum market share followed by West and North region. Moreover,
the Eastern region has the bottommost share in the market. Low per capita
income in the eastern states is the major factor for such low requirement in
these states. It is predicted that the revenue created in Indian pharmacy
retail market will rise at a positive CAGR during the period FY'2018 – FY'2025.
In India, it is anticipated that with the growth of organized sector, the
overall market will also increase. Therefore, in the near future, it is
anticipated that the market of India online and offline pharmacy will increase
more positively with the more investment to the advanced development of
products over the decades.
For more information on the research
report, refer to below link:
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