Pharmacy retailing in India 2023

Indian market is helping the market expand rapidly. Looking at the potential of this segment, several offline retailers too have started online stores in order to increase revenue.

 Growing health awareness among consumers and knowledge of the additional services offered by organized players shall result in a gradual shift from unorganized pharmacies towards modern pharmacy retail outlets.

 Industry key growth factors:

  • Enhancement in medical infrastructure, growth in the number of middle class households and increased penetration of health insurance highly impact the growth of the domestic pharmaceuticals sector.
  • Stress, sedentary lifestyles and unhealthy food habits are the most common reasons for the increase in number of patients who suffer from lifestyle-based ailments. This will regulate medication on an ongoing basis, which in turn will make prescription-based medicines mandatory that will help in the expansion of the pharmacy retail market in India.

Several Market threat:
Pharmacy retailing is a capital intensive business proposition and its set-up involves strategic location of outlets and the margin is fixed based on the government’s stipulated prices.

 Major Key Players of Indian market:
Apollo Pharmacy Private Limited,
Emami Frank Ross Limited,
MedPlus Health Services Private Limited,
Netmeds Marketplace Limited, 
RWL Healthworld Limited 
The Himalaya Drug Company Private Limited are some of the major players operating in the Indian pharmacy retail market.

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