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Pharmacy Retail Market in India 2019 - Featuring Apollo Pharmacies, Emami Frank Ross, Global Healthline Private & Medlife Among Others - ResearchAndMarkets.com


The "Pharmacy Retail Market in India 2019" report has been added to ResearchAndMarkets.com's offering.

The pharmacy retail market in India has witnessed significant growth over the past few years, owing to favourable demographic factors and an epidemiological transition. In terms of revenue, the pharmacy retail market in India was valued at INR 996.68 Bn in 2016 and is projected to reach INR 2,330.20 Bn by 2024, expanding at a CAGR of 10.08% during the 2019-2024 period.

The market is majorly occupied by unorganized local players. However, the unorganized sector is anticipated to face intense competition from organized players and online retailers.

Based on the retail channel, the market is segmented into organized sector, unorganized sector, and online retail. The unorganized sector accounted for the largest market share (~93.00%) in 2018. The market share of the organized sector, which consists of licensed and registered players, is estimated to increase steadily over the forecast period. The online retail segment is projected to expand at a CAGR of ~33.95% during the 2019-2024 period, owing to strong digital infrastructure in the country.

The generic drugs segment dominated the retail pharmacy market in India, followed by the OTC drugs and patented drugs segments. The low price of generic drugs attributed to its leading share. The OTC drugs segment is predicted to be the second-leading segment of the pharmacy retail market with a share of ~22.40% in 2024.

The inclusion of various medicines under the OTC category, coupled with a preference towards self-medication is predicted to drive the growth of the OTC drugs segment. The market share of the patented drugs segment is estimated to increase by 5.4% from 2018 to 2024, owing to the launch of various patented drugs in the Indian market.

Increased affordability, improved accessibility and epidemiological transition are expected to fuel the pharmacy retail market in India during the forecast period. The rise in per capita income and penetration of health insurance coverage has bolstered Indian consumers' affordability. A significant increase in the number of Indians covered under health insurance has helped propel consumer spending on pharmaceuticals.

With the rise in public healthcare expenditure, pharmaceuticals have become more accessible, thereby fueling the pharmacy retail market, especially in rural areas and tier-II cities. Furthermore, the launch of various patented drugs by international pharmaceutical companies resulted in an incremental increase in pharmaceutical sales. The growing incidence of chronic diseases like hypertension, diabetes, cardiovascular diseases, and cancer, which requires prolonged medication, is expected to further drive the growth of the pharmacy retail market in India during the forecast period.

The e-pharmacy market in India has evolved from its nascent stage to a promising market with strong growth potential. The influx of investments and a rise in Internet subscribers have helped shape up the e-pharmacy market in the country. Online players like Netmeds, 1mg, PharmEasy and MedLife have recently emerged in the Indian pharmacy retail market. Along with core online players, various traditional offline companies have expanded their retail operations in the online platform to offer value-added services to customers.

Companies covered:

Key Topics Covered:

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction

Chapter 4: Market overview

Chapter 5: Market segmentation

Chapter 6: Market influencers

Chapter 7: E-pharmacy landscape

Chapter 8: Competitive landscape

Chapter 9: Recent developments

Chapter 10: Appendix

For more information about this report visit https://www.researchandmarkets.com/r/xjdf1z



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