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
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
