The organized pharmacies has started focusing beyond metro cities amid growing demand for branded retail stores in Tier 2 and Tier 3 cities. The expansion has brought a number of new challenges for the pharmacy retailers in India such as optimum inventory control and on schedule delivery.
The report titled “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 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.
The market is expected to register a positive CAGR of 8.6% in terms of revenue during the forecast period FY’2018-FY’2025.
Increase in Number of Standalone Unorganized Pharmacies: The number of pharmacists has increased by almost 50% from 2013 to 2018. New pharmacies are mainly opening up as it is observed that most of the pharmacists prefer to open their own pharmacy which constitutes the unorganized market. The number of pharmacist is less than number of pharmacy stores which signifies that large number of stores are registered under a single pharmacist name but are operated unauthorized.
Growth of Private Label Goods: Organized players are expanding the portfolio of private label goods as the margin earned on these products is considerably higher as compared to other types of products. This has helped the pharmacy retail stores in improving their profitability. Since the organized players solely have the brand recognition to sell the private label goods; the margin earned by organized pharmacy stores is higher as compared to the unorganized pharmacy stores.
Under Penetrated Rural Market: The organized market is largely limited to Tier 1 and Tier 2 cities highlighting the limited reach of the organized pharmacy retail stores. In comparison to it, the unorganized players are spread across the country.
Keywords:-
India Pharmacy Retail Market
India Pharmacy Industry
Pharmacy Retail Businesses India
India Pharmacy Retail Revenue
Online Pharmacy Sales India
India OTC Drugs Market
India Prescribed Drug Market
India Generic Drug Market
India Patented Drug Market
India Pharmacy Retailer in South
India Online Pharmacy Retail Market
M-Pharmacy Market in India
Pharmacy Retail South India
Global Pharmacy Retail Market
Pharmacy Retail in Urban Areas
Apollo Pharmacy Market Share
Future India Pharmacy Retail
Netmeds Online Pharmacy Market India
1 Mg Retail Pharmacy Market Share
Pharmeasy Revenue India
Medplus Pharmacy Market Revenue India
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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Related Reports:-
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Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com
+91-9015378249
