E-Pharmacy Market in India Size Trends 2022 Industry Recent Developments and Latest Technology, Share, Future Growth, Supply-Demand Scenario, Forecast Research Report 2031

Kenneth Research published a report on E-Pharmacy Market in India which gives detailed analysis of the present market landscape. The report which is evaluated for the forecast period, i.e., 2022-2031, provides an in-depth analysis of the market, based on size, volume, latest trends, opportunities and challenges associated.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for E-Pharmacy Market in India Products.

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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The traditional pharmacy retailing system face challenges such as counterfeit medicines, poor inventory management, limited brand tracking, and lack of documentation. E-pharmacy emerged as a safe and convenient interface that can address these issues and offer better customer experience. In terms of revenue, the e-pharmacy market in India was valued at INR 35.21 Bn in 2019, and is estimated to reach INR 313.80 Bn by 2025, expanding at a compound annual growth rate (CAGR) of ~43.98% during the 2020-2025 period.
Segment insights:
The e-pharmacy market in India is categorized into two segments chronic therapy and acute therapy. The market is dominated by the chronic therapy segment, which accounted for ~65% share of the overall revenue in 2019. Acute therapy is anticipated to be the fastest-growing segment, expanding at a CAGR of 49.74% during the 2020-2025 period.
Consumers with chronic ailments such as cardiovascular diseases and diabetes require to procure medications frequently to pursue their long-term treatment procedure. They consider e-pharmacy as a preferred platform for purchase medicines, owing to improved accessibility, attractive discounts, and value-added services such as treatment plan and adherence management.
Market insights:
The e-pharmacy market in India has gained significant traction over the past two to three years; the key enablers for its momentous growth include increased penetration of the internet, rapid growth of smartphone ownership, prevalence of lifestyle disease, and government initiatives. However, the market experiences considerable challenges due to the lack of stringent regulations, concerns regarding data security, and bottlenecks in last-mile delivery.
The immense growth potential of the India e-pharmacy market has attracted the entry of various health-tech start-ups, leading e-commerce companies, and traditional brick-and-mortar pharmacies in the market space. In 2020, the market witnessed the entry of leading players such as Amazon, Flipkart, and Reliance. In August 2020, Reliance Retail Ventures Limited (RRVL) stepped into the market through the acquisition of the e-pharmacy player, Netmeds. In the same month, two key e-pharmacy companies, PharmEasy and Medlife announced their merger. The entry of established companies with strong e-commerce capabilities, coupled with the consolidation trends is likely to intensify the market rivalry.

Impact of COVID-19:
The pandemic has emphasized the importance of e-pharmacies among its stakeholders, including sellers, consumers, medical professionals, and regulators. Consumer behavior has changed drastically during the critical period; the market witnessed rapid adoption among geriatric populations and consumers in non-metro areas. E-pharmacy companies have sharpened their business strategies to seize the growth opportunity. Partnership with hyperlocal stores, adopting a hybrid business model, and strengthening logistics and technology infrastructure are the key strategies implemented by market players.
Companies covered
• Apollo Pharmacies Limited
• Medlife
• MedPlus Health Services Private Limited
• Netmeds Marketplace Limited
• 1mg
• 91Streets Media Technologies Private Limited (PharmEasy)
• Healthkart
• mCHEMIST Global Private Limited
• Medsonway Solutions Pvt Ltd
• Truemeds

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The Market report answers the following questions:

What is the aim of the report?

  • The market report presents the estimated market size of E-Pharmacy Market in India by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
  • Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
  • An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
  • The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
  • The various parameters accelerating the growth of Market are incorporated in the research report.
  • The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

  • Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
  • The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
  • The growth rate of the market in every region, including their countries over the forecast period is included in the market report.

Based on what factors are the key market players assessed in this report?

  • The report offers detailed analysis of leading companies in the market across the globe.
  • It provides details of the major vendors involved in the Market including Key Players
  • A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
  • The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
  • The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

  • Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
  • The report offers the present scenario and future growth prospects Market in various geographical regions.
  • The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
  • The SWOT analysis is conducted along with Porter’s Five Force analysis.
  • The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.

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