The Global Labelling Machine Industry generated $ 2.5 Mn revenue in 2022- How will the market further shape in future? Ken Research

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The increasing awareness of environmental safety among consumers and the rising adoption of eco-friendly products provide labelers of packing products with immense opportunities.

1. Assessment of impact of covid-19 on the Global Labelling Industry

Strategies adopted by labeling market in covid: Click Here

The labeling machine market was relatively stable during COVID-19, owing to the increasing demand for food and pharmaceutical packaging. The COVID-19 outbreak disrupted the supply chain across various end-user industries such as food and beverage, healthcare, and industrial. The e-commerce retail industry also generated high demand. Strict measures such as lockdowns and social distancing forced buyers and sellers to sell online. Since the onset of the pandemic, private labeling has seen exponential growth. The pandemic caused availability issues for many products, leading many shoppers to switch brands or purchase private-label products as the availability of their usual products was limited. Further, this growth is attributed to the increasing quality and perception of private labels, competitive prices, and the range of products.

2. After-Sales Service Analysis of the Global Labelling Industry.

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Labelling is an important concept that gives finishing to packaging. Machines designed to carry over the classification purpose are of different varieties as they are made to suit the labeling options of other objects. While there are plenty of labeling machines in the market, most buyers stick to labeling machines made by reputable manufacturers. They guarantee excellent after-sales service, which is important since buyers want to buy labeling machines to last a long time. CTM is one of the world’s renowned manufacturers of labeling equipment. The company offers aftersales service with state-of-the-art technology and “made in the USA” manufacturing standards.

3. High cost associated with labeling machines and coping with trends

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Labeling machine installation in small-scale businesses is not affordable, as it requires significant investment costs and trained professionals able to operate the machine. Furthermore, the demand for all-in-one solutions in one machine, like packaging, labeling, and other operations, has raised the cost of machines, which can impact the growth of the market. Another challenge facing the domestic packaging industry is rising production costs in various countries. According to a study by Paper Vietnam, Vietnam's packaging printing industry is growing at an annual rate of 10-15%. As the market for packaging printing continues to grow, so too are the global compliance regulations for ink components. As a result, it has become a more complex and challenging market for formulators to select ingredients to meet such a market and is different from the ingredients that could be a design ink.

Major Players Mentioned in the Report

• Krones AG
• ProMach, Inc.
• Sacmi Imola S.C.
• Salzgitter AG
• Barry-Wehmiller Group, Inc.
• Tetra Laval International S.A.
• M.A. Industria Macchine Automatiche S.p.A
• SIDEL (Tetra Laval Group)
• Accutek Packaging Equipment Companies, Inc.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Labelling Machine Manufacturers
• Labelling Machine Investors
• Labelling Machine Providers
• Labelling Machine Suppliers
• Labelling Machine Components Suppliers
• Allied Industries of Labelling Machines
• Government Ministries and Departments of Engineering Industry
• Labelling Machine Research and Development Companies
• Potential Entrants into Labelling Machine Industry

Time Period Captured in the Report

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Labelling Machine Market

Related Report by Ken Research

Global, Middle East, & KSA In-Mold Labeling Market Outlook to 2027F

Decoding the developing trends of the India POCT Market : Ken Research

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The POCT market in India is expanding. In terms of revenue, the India POCT market grew at a positive CAGR between FY'2013 and FY'2018. Medical research and development advances, as well as the recent rise in the frequency of chronic diseases among the Indian population, all contributed to this surge. The demand for POCT devices in the nation has increased as a result of consumers becoming more conscious of their health over time.
In this segment, we will decode the growing trends of the POCT industry in India and discuss them in detail. So, let’s dive in.

1. India POCT market is still in its nascent stage, Demand for home-based healthcare devices and remote patient monitoring has aided to the growth of the market

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2. Growing trend of automation and modernization of laboratories and hospitals will further lead to future opportunities in the POCT market, leading to increased number of new entrants

3. Currently, Growing awareness, telemedicine, rise in chronic and infectious diseases, and growing healthcare infrastructure are the major factors impacting the growth of India’s POCT Market

4. However, lack of Infrastructure, regulatory challenges, quality control, and data privacy are major reasons which directly affect the India POCT Market

5. But, the Indian government has taken a number of steps to promote the use of Point-of-Care Testing (POCT) devices and to ensure the quality of tests performed by them

Some of the Intelligence Curated by Ken Research in POCT Market Space:

• Europe POCT Devices Market Outlook to 2022 by Geography (Western Europe & Eastern Europe), by Product (Blood Glucose POCT, Infectious POCT, Cardiac POCT, Rapid Coagulation POCT, Blood Gas & Electrolytes POCT, Hematology POCT, Pregnancy POCT, Urinalysis POCT, Cholesterol POCT, Fecal Occult POCT, Hb1Ac POCT & Drugs of Abuse POCT), by Customer Segments (Hospitals & Clinics, Diagnostics Labs & Primary Care Units and Homecare & Patients)
• India Next-Generation Oncology Devices and Solutions Market Outlook to FY’2027 Increasing Prevalence of demand for Oncology Services, Emerging Technologies in Oncology Testing and Treatment and Increasing Disease Awareness to drive the Market
• KSA Medical Devices Market Outlook to 2026 –Driven by increasing prevalence of chronic diseases, growing healthcare awareness and rising healthcare budget in the country
• Global Neuroprosthetics Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Type (Output Neural Prosthetics, and Input Neural Prosthetics), Technique (Deep Brain Stimulation, Vagus Nerve Stimulation, Spinal Cord Stimulation, and Sacral Nerve Stimulation), Application (Motor Neural Prosthetics, Physiological Disorders, and Cognitive Disorders), and Region (North America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA))
• Global Immunoassays Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product Type (Reagents & Kits, Analyzers/Instruments, and Software & Services), Application (Cardiology, Oncology, Autoimmune Diseases, Infectious Diseases, and Others), Technology (Radio immunoassay (RIA), Enzyme Immunoassays (EIA) or Enzyme-Linked Immunosorbent Assays (ELISA), Fluoro immunoassay (FIA), Chemiluminescence Immunoassay(CLIA) and Others), By End User (Hospitals & Clinics, Clinical Laboratories, Pharmaceuticals & Biotech Companies, Blood Banks, Academic Research Centers, and Others) and Regions (North America, Asia Pacific, Europe, Latin America, Middle East and Africa)

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India POCT market

3 Developments driving the Global Industrial Packaging Market- Revenues to exceed USD 80 Bn by 2027 says a report by Ken Research

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Global Industrial Packaging Market Ecosystem

Global industrial packaging Market is at a growing stage. It is a highly fragmented market with the presence of many packaging companies. The industrial packaging market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized learning platform. Few major global industrial packaging players are WERIT Kunststoffwerke W. Schneider GmbH & Co, Mondi Plc, Greif Inc, Mauser Packaging Solutions, WestRock Company etc.

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1. Better packaging solutions by using AI technology is the latest trend in industrial packaging market.

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Technological advancement is a key trend gaining popularity in the industrial packaging market. Artificial intelligence is helping firms employ computers and algorithms to produce better packaging solutions. AI is used in inspection, data labeling, recycling products, and various other applications. In April 2022, DHL Supply Chain announced a new on-demand packaging option to its business clients to make shipments more cost-effective and ecologically responsible. The AI-powered Opti Carton technology will aid in the optimization of box filling from a pre-configured set of cartons and even recommend breaking orders into many consignments to make individual shipments more cost-effective or lessen their carbon impact.

2. Increased demand for industrial packaging from chemical and construction industry

The increased production in many industries and trade of products, such as chemicals and petroleum products, have boosted the demand for bulk packaging and crates/totes. Industrial packaging companies cater to various end-use industries, such as building & construction and chemical. The growing trade among countries and the safe transportation of products lead to an increased demand for effective industrial packaging from these industries. The rise in demand from the chemicals and petroleum industries is a major growth driver of the industrial packaging market.

3. Corrugated boxes widely preferred for Industrial Packaging

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Based on product type, the corrugated boxes segment is projected to be the largest market for industrial packaging. The dominant market position of the segment can be attributed to the increase in the demand for these product type across various applications in food & beverage, pharmaceutical and automotive industries. The increase in the demand for corrugated boxes can be attributed to the rise in the demand for lightweight and convenient packaging solutions.

For more insights on market intelligence, refer to the link below: –

Global Industrial Packaging Market Report

Rising Farmers Income Enables the Global Agriculture Equipment Market to Reach Around USD 250 Bn by 2027: Ken Research

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Global Agriculture Equipment Market Ecosystem

The Global Equipment Market is fragmented and has high intensified competition within industry players. The top ten competitors in the market made up to one third of the total market in 2020. Major players in the market include Deere & Company, AGCO Corporation, Agro Centre ESCORTS and Mahindra are the key players in Global Agriculture Services Market. The market is largely driven by growing awareness about modernized agriculture equipment among people along with the rising income of farmers.

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1. Worldwide Growing Population Becomes the Cause to Worry about Food Security; Farm Machinery Comes with Producing More in Less Time.

World population as of 2022 is at around 8 bn, further expected to touch to 9 bn by 2030. Such rapid growth is associated with rising demand for resources such as food and water, energy, and space, as well as better sanitation, education, and better access to healthcare. To maintain balance agriculture equipment aids in the cultivation of more crops in less time and effort, resulting in an increased food supply for the growing population. Consequently, as the worldwide population grows, so does the demand for agricultural equipment, which propels the agriculture equipment market to move ahead. In addition to this Population growth is fastly accelerating, intensifying the pressure on food production. This, in turn, leads to higher food insecurity, more greenhouse gas emissions, and large-scale environmental degradation. Food production, therefore, needs to adapt to accommodate a growing population and a changing climate. Globally, the market is showing substantial traction due to the growing population and the resulting need for improved productivity to meet the food demand.

2. Farmers’ Income Has Doubled Since Last Decade Worldwide: Sets The Path For The Agriculture Equipment Market to Grow Enormously.

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According to the world bank- Global agricultural productivity and rural income have been increasing in recent years, but there are still significant disparities between regions and within countries. In many low-income countries farmers continue to face challenges such as limited access to credit technologies and markets which can impede their ability to increase their incomes and livelihoods. In addition, climate change and other environmental factors are impacting agricultural production and income, particularly for smallholder farmers who rely on rain-fed agriculture. The report suggests that climate change could reduce global agricultural income by up to 30% by 2080, with the greatest impacts expected in low-income countries.

Overall, while there have been some improvements in farmers’ incomes globally, there is still much work to be done to ensure that all farmers have the resources and support they need to thrive.

For more insights on market intelligence, refer to the link below: –

Global Agriculture Equipment Market

Breaking News: Elkem Makes Waves with Acquisition of VUM

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Elkem, being a major player in the silicon industry, anticipates that the acquisition will generate an estimated annual increase in turnover of approximately NOK 360 Mn: Ken Research

STORY OUTLINE

• Elkem ASA, headquartered in Oslo, Norway, has acquired VUM, a carbon materials producer based in Slovakia.
• The acquisition aims to enhance Elkem's capabilities in specialty markets and provide greater flexibility in the supply chain.
• Elkem's operations are divided into three business divisions: silicon, silicon products, and Carbon Solutions.
• VUM, now known as Elkem Carbon AS, will operate as a wholly-owned subsidiary of Elkem ASA with its existing management.

Elkem ASA, a Norwegian company with its headquarters in Oslo, has successfully finalized the acquisition of VUM, a carbon materials producer located in Slovakia. This strategic transaction is intended to fortify Elkem's competencies and proficiency in highly profitable specialty markets, while simultaneously enhancing the company's supply chain flexibility.

Future Growth Rate of the Global Silicon Metal Market

• By expanding its capacity through the acquisition, Elkem aims to strengthen its market position within the industry. Elkem's operations are organized into three distinct business divisions, namely silicon, silicon products, and Carbon Solutions. In 2022, Elkem achieved a peak revenue of $1.8 Bn.
• VUM, established in 1954 near Ziar nad Hronom, Slovakia, employs around 65 people. It is an independent producer of carbon materials crucial for industrial smelters, including anode paste, electrode paste, ramming paste, and recarburisers, supporting global metal production.
• Elkem aims to enhance efficiency, value proposition, and economies of scale for VUM by offering resources and industry-leading expertise. As both a producer and consumer of carbon solutions, Elkem leverages its strong position to provide superior technical support and high-quality products, enabling customers to enhance electrode management and optimize their processes.

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• VUM utilizes rotary kilns furnaces for calcining, enabling versatile processing of various raw materials. Additionally, VUM's research and development efforts will contribute to Elkem's carbon competence center in Norway, enriching its expertise. Slovakia relies predominantly on emissions-free electricity generation, primarily through nuclear and hydropower, serving as the country's primary energy sources.

• Following the successful transaction, VUM will undergo a rebranding process and function as Elkem Carbon AS, a fully-owned subsidiary of Elkem ASA. VUM's existing management will continue to oversee operations under the new name.

In conclusion, Elkem's acquisition of VUM, now Elkem Carbon AS, enhances its position in the carbon materials industry and reinforces its capabilities in specialty markets. This strategic move strengthens Elkem's supply chain flexibility and allows for greater efficiency and value proposition. With its expertise, resources, and technical support, Elkem is well-equipped to meet the evolving needs of customers in the global metal production and industrial smelting sectors.

Major Players Mentioned in the Report:

• Dow
• Cree
• Ferro globe
• Rusal
• Elkem
• Wacker
• Hoshine
• EGA
• Liasa
• Minasligas
• Infineon
• Toshiba
• Wanhua Metal

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Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:

• Silicon Metal Manufacturers
• Emerging and Startup Companies in Silicon Metal
• Different Types of Silicon Metal Research Labs
• Government Ministries and Departments of Minerals
• Government Departments of Electronics
• Ministries and Departments of Paint & Coatings
• Importers and Distributors of Silicon Metal
• Chemical and Metals Market Research & Consulting Firms
• Semiconductor Research and Development Associations
• Investment Banking & Financial Institutes
• PE and VC Firms focused on Chemicals and Metals Industries
• Research & Development Institutes for Silicon Metal Sector
• Silicon Metal Providers
• Silicon Metal Suppliers
• Investors in Silicon Metal Start-ups
• Environmental Regulatory Bodies
• Silicon Metal Distributors
• Potential Entrants into Silicon Industry

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2028

For more insights on market intelligence, refer to the link below: –

Global Silicon Metal Market

Related Reports by Ken Research: –

Global Silicon Metal Market Size, Segments, Outlook, and Revenue Forecast 2022-2028

How the Indian Government is securing the future of the Agricultural Cold Storage Market in India? : Ken Research

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The agriculture sector in India has had consistent growth in production levels over time. This production level hasn't been matched appropriately in terms of food storage, which highlights the Indian Agricultural Cold Storage Industry's existing whitespace. Despite being an agricultural nation, India experiences significant food losses per year that range from INR 90,000 to INR 100,000 as a result of inadequate post-harvest management and a lack of adequate cold storage infrastructure.

The government has been developing numerous programs and giving grants to help, along with special preference to the states that are behind in terms of infrastructure, in an effort to foster development in the agricultural cold storage industry. Here is an overview of all those crucial steps taken by the government to level up the agricultural cold storage market in India.

1. Indian agricultural sector is growing due to favourable climatic and demographic conditions which is creating demand for cold storage facilities in the country

2. Setting up cold storage facilities could aid in development of food processing, packaging industries, coupled with increase in farmer’s income

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3. Indian Government is actively taking initiatives to establish a robust cold chain infrastructure to enhance the farmers’ income by preventing supply chain losses

4. Multiple schemes are implemented on ground to accelerate investment in the cold storage sector

5. Government is also offering support to Cold Storage Industry via Capital Investment Subsidy Scheme, Agricultural Marketing Infrastructure Scheme and Role of NCDC

6. The establishment of Mega Parks is expected to provide a boost to processing & cold storage services.

7. With support from the government and investors, the Indian Agricultural Cold Storage sector looks attractive in the long run

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India Agricultural Cold Storage Industry

3 Key Insights From Global Used Vehicle Industry- The Market Is Projected To Exceed $ 2.5 Trillion By 2027; Says A Report By Ken Research

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Global Used Vehicle Market Ecosystem

The Global Used Vehicle market is moderately fragmented with multiple dealers (both organized and unorganized) operating in the industry. Majority of the used vehicles are sourced from vehicle-rental/ leasing companies & auctions.

Direct buying from consumers or individual sellers is another major source.

1. Is the market for Used Vehicle increasing Globally?

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There is a significant growth in the used vehicle sales during forecast period majorly due to expected increase in hybrid and electric vehicle sales in coming years which is anticipated to grow by 2027. The conventional used vehicles have also maintained its dominance however, its overall growth during 2022- 2027 is slower as compared to electric vehicles. The demand for used vehicle has increased by a major 46% and will further increase in the future.

2. Focusing on Expanding Digital Presence can be a game changer for used vehicle selling companies

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Most consumers these days make used vehicle buying decision after searching online which necessitates synchronizing online and showroom experiences and sharing product information, offering sales support & servicing online. Online platforms can introduce an additional service wherein consumers can go through all the used vehicle auctions taking place around them or that are scheduled for the future. At present, there is not much used vehicle content on Tik-Tok and Snapchat. There is an increase in the sales of used trucks for about 35% more since digital presence of vehicle dealers and it is expected to be around 10% more in the future. These platforms are suitable for targeting new customers and will help to increase business opportunities for used vehicle operators.

3. Is Partnerships and Collaborations the right way to future growth of used vehicle industry?

Brand authorized/direct dealership agents as well as large multi-brand outlets can partner with cab aggregators operating in the country such as Uber etc. The used vehicle industry sees majorly Mergers and Acquisitions done through horizontal business contributing to 40%, followed by 22% by conglomerates. There have been more than 30 successful collaborations in form of Joint Ventures in the used vehicle industry. Dealerships can collaborate with mid-size corporates & companies to offer additional discounts of up to 25% to people within that age bracket of 25-60 years if they buy a vehicle using the company’s referral. This collaboration will enable the dealership in generating higher number of leads through the companies, which can ultimately lead to better conversion rates and boost pre-owned vehicle sales.

For more insights on market intelligence, refer to the link below: –

Global Used Vehicle Market

India Luggage and Bags Market revenue has grown close to INR 20 Th Crores in 2019- Which factors will make the industry more lucrative in future? : Ken Research

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Organized players have increased innovations and continue to launch new variants. They offer lifetime warranties on several products, says a report by Ken Research

1. How GST has changed the landscape of Luggage Manufacturers in India?

Click to Read Full Article: India Luggage and Bags Market

Implementation of GST has boosted organized sales of major players. The impact of GST was majorly seen towards the mass / economy segment where Safari Industries has a major presence. The government was responsive by abolishing three quarters of the items and as of today, luggage and bags are subjected to 18% GST rate under consumer durables category. Volatile sales pattern was observed in the initial months, followed by approximately 30-40% increase in terms of sales revenue post GST implementation. GST has also brought changes in the logistics, billing and need for a centralized warehouse for bulk storage of stock therefore, reducing overhead costs for corporate in the long run.

Impact of GST on various Luxury Goods in India

2. India Luggage Market Segmentation by type of wheel and non-wheel-based luggage, 2019.

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It has been observed that luggage bags with wheels contributed a massive share of 81.6% in the luggage market of India during 2019 as compared to non-wheeled luggage which accounted for 18.4% share. This has been largely due to rise in preference for luggage with wheels which enable easy movement of bags from one place to another.  Wheeled luggage bags are preferred by multiple travelers because of its high durability, flexibility, convenience, and functionality. On the other hand, the contribution of non-wheel luggage bags has declined over the years.

3. Gauging the impact of travel and tourism in India on luggage and bags industry

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It was observed that total number of tourists who visited domestically in all states/UTs of India was evaluated at 1,000 Mn during the year 2013 which expanded to 1,800 Mn in 2018 and is expected to increase in the near future which will tend to enhance the demand for luggage bags among the masses, therefore leading to the overall growth of the luggage market in the country.

Surge in the total number of events and global business meetings have been driving corporate tourism in the country therefore, encouraging Corporate to continuously explore around and spend big over business travel. In addition to that, massive change in the visa policies and increasing availability of direct flights are bridging the gap between countries. Apart from that, the country’s outbound MICE tourism has been growing and is further expected to reach USD 9 Bn by 2025.

The Global Remittance Market is poised to reach $ 1200 Bn owing to rise in mobile-based payment channels and cross-border transactions. : Ken Research

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Global Remittance Market Ecosystem

Global Remittance Market is concentrated among the top 10 players. Prominent players are pursuing various strategies, such as research & development initiatives, product innovations, joint ventures & strategic partnerships, expansion, and mergers & acquisitions to gain a competitive edge in the market. Market players are focusing on leveraging the capabilities of newly emerged fintech companies to offer their consumers the utmost convince of remitting funds. The major companies dominating the Global Remittance market for its products, services, and continuous product developments are Bank of America, Citi Group Inc., Pay Pal, Wells Fargo, JP Morgan Chase among others.

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1. Rise in Cross-Border Transactions and Mobile-Based Payment Channel

30% Growth in cross-border B2B transaction values 2020-22

Rise in cross-border transactions and move toward mobile banking and mobile-based payment solutions dominate payment trends in Asia-Pacific, which is expected to drive the growth of the remittance market. In addition, owing to rise in international commerce, migration and changing economic trends across the globe. In addition, new developments in the world of cross-border payments is the prospect of making real-time international payments a reality. A 30% growth was recorded in cross-border transactions in 2020-22. 

Furthermore, number of banks are striving to deliver timely cross-border remittances and value-added services using a relationship-centric approach, which fuel the growth of the remittance market.

2. “Reduced Remittance Cost and Transfer Time:” Will it sustain in the long run?

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Cross-border payments have become insignificant in cost, quick, auditable, and accessible to everyone owing to the use of digital transfer networks such as mobile phone technology, mobile money, digital currencies, distributed ledgers, electronic identity, and others to send money. The average cost has fallen to 7%. Moreover, the adoption of digital remittance is expected to reduce reliance on cash agents in both sender and receiver nations, which is now contributing to the maintenance of high transaction costs.

The figure shows that the fees for a $200 remittance have come down significantly over time, although they seemed to have stagnated in the last 3 years. The median remittance fee has decreased from 7.7 percent in 2011 to 5.7 percent in 2020. The reduction was also broad across the distribution of remittance fees, with the 75th percentile decreasing from 11.1 percent to 7.7 percent, and the 25th percentile falling from 5.2 percent to 4 percent.

For more insights on market intelligence, refer to the link below: –

Global Remittance Market

Prescription for Success: Global Pharmaceutical Retail market On Track to reach $1 Trillion dollar by 2027: Ken Research

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1.The Asia-Pacific region is Expected to Lead the Pharmacy retail Market in the future

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From Watsons in Singapore to Guoda Drugstores in China to Century Healthcare in Indonesia, Asia’s retail pharmacy market is emerging as one of Asia’s hot healthcare opportunities. Most Asian-Pacific markets still have room to grow. Today, Singapore has the most pharmacy locations per capita -- 1,540 persons for each pharmacy location. The pace of innovation and disruption will further intensify these anticipated market and investment shifts.

 2.E-pharmacies helping to bridge the gap in the Global healthcare system

With increasing internet penetration and smartphone availability, e-commerce has witnessed exponential growth across categories – from apparel to groceries, people have started purchasing most of their requirements via online platforms. As a result of this drastic shift in shopping behavior, e-pharmacies has emerged as a promising sector as they managed to offer the convenience of shopping out of the comfort of homes. In the statistics by the International Telecommunication Union (ITU), the internet penetration rate across the globe peaked at 53% from 17% in-between the years 2005-2019 which is further propelling the e-pharmacies industry, especially after covid-19.

3.With 9,706 stores, CVS Pharmacy (USA), is the largest chemist/pharmacy store chain in the world.

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In the coming years, competition is expected to heat up, particularly from big-box retailers and mail-order and online pharmacies. The top U.S. pharmacy in 2021 by market share based on prescription drug revenue was CVS Health Corporation. It held nearly 25 percent of the prescription drug market revenue. Payors have also steered customers towards mail ordering, such as by covering a 90-day supply of medications delivered to the home rather than the 30-day supply available at a traditional pharmacy. Finally, Internet pharmacies are aggressively pursuing cash-paying customers by offering discounted medications.

4.AI is giving a major boost to the Global pharmacy retail market to reach 1 trillion dollars by 2027.

In recent years, the pharmacy industry has been using AI and Machine Learning for various stages of the pharmaceutical development process.  AI systems can be used to automate tasks that will help in saving time and also the tasks will be performed by using fewer resources. More than 60% of life sciences companies spent over US$20 million on AI initiatives in 2019, and more than half expect investments in AI to increase in 2020, which will have a direct impact in the pharmaceutical companies. In 2018, Sanofi partnered with an AI startup in order to build an AI solution that would automate medical literature reviews, which will help the pharmacy market to study the customer base and medical needs.

Market Taxonomy

By Market Structure

• Organized
• Unorganized

By Type of Pharmacies

• Community Pharmacies
• Discount Pharmacies
• Hospital Pharmacies

By Type of Products       

• Prescribed Drugs
• Over-The-Counter
• Non-Pharmaceutical Products
• Medical Equipment

By Therapeutic Area

• Anti-Infective
• Cardiovascular
• Central Nervous System
• Pain/Analgesics
• Vitamins/Minerals/Nutrients
• Antibiotics
• Respiratory
• Gastro-Intestinal
• Gynecology
• Others

By Drug Type

• Patented Drugs
• Generics

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Key Target Audience

• Pharmaceutical Manufacturing Companies
• Pharmacy Retail Companies
• Independent Pharmacies
• Industry Associations
• Regulatory Bodies
• Telemedicine Companies
• Pharmaceutical Distributors & Wholesalers

Time Period Captured in the Report

• Historical Period: 2017-2022
• Base Period: 2022
• Forecast Period: 2022-2027

Major Players Mentioned in the Report 

• Ahold Delhaize
• Albertsons Companies Inc.
• Cipla
• CVS Pharmacy
• GlaxoSmithKline
• Loblaw
• Merck KGaA
• Novo Nordisk
• Rite Aid
• Sanofi
• Walgreens Boots Alliance

For More Insights On Market Intelligence, Refer to the Link Below: –

Global Pharmacy Retail Market

Related Reports by Ken Research: –

Australia Pharmacy Retail Market Outlook to 2025

Indonesia Pharmacy Retail Market Outlook to 2025 

Vietnam Pharmacy Retail Market Outlook to 2025