Research On Global Markets Publishes a Report on the Pharmacy Retail Market in India
Research on Global Markets has announced the addition of a new report on the "Pharmacy Retail Market In India (2018-2023)". The rising in geriatric population and the advent of chronic diseases, growing disposable incomes and the increasing awareness among consumers have been contributing to the growth of the Indian pharmacy retail market.
Pharmacy retail generally refers to the sale of various kinds of pharmaceutical drugs like over the counter (OTC) drugs and prescription drugs. The stores also keep stocks of fast-moving consumer goods (FMCG). The emergence of online pharmacy in the Indian market has been helping the Pharmacy Retail Market in the country to grow rapidly.
The report lists the major growth factors driving the Pharmacy Retail Market in India. The domestic pharmaceuticals sector of the market is being driven by the enhancement in medical infrastructure in the country, the penetration of health insurance and the increase in the number of middle-class households. The growing cases of lifestyle-related diseases among people due to stress, unhealthy food habits and sedentary lifestyles have also worked on expanding the pharmacy retail market.
The report also discusses the major challenges in the industry. One of the major threats to the market is pharma fraud which includes several illegal activities regarding the manufacturing, marketing and distribution of pharmaceuticals. The retail pharmacy industry requires a huge amount of investment in the products, hence it is a Capital Intensive Business. Then, there are the regulatory hurdles in the e-commerce segment of the industry. These are some of the challenges that have been hindering the growth of the market.
Furthermore, the report covers the segmentation of the pharmaceutical market sales.
The report tracks the performance of the key players in the industry which includes Apollo Pharmacy Private Limited, Emami Frank Ross Limited, MedPlus Health Services Private Limited, Netmeds Marketplace Limited, RWL Healthworld Limited and The Himalaya Drug Company Private Limited.
The report provides a broader understanding of the pharmacy retail market in India, the market dynamics and the current state of the sector.
Business Insights of the report:
- The report provides a detailed overview of the Indian Pharmacy market.
- It also covers the historical, current and forecasted market size data for the Pharmacy Retail Market in India (2017-2023)
- The report includes a detailed analysis of the growth drivers and the challenges that the pharmaceutical market in India face.
- It additionally includes the market share of the key players in the space, which further helps in determining the best-suited investments and strategic alliance for both old and new business owners.
- The report discusses the key developments in the pharmacy retail market in the country.
The report has been formulated to provide businesses with insights to strategize marketing, market expansion, market-entry or any other business plans by understanding the factors driving the growth in the market. It also helps businesses, new or old, to understand the business strategies and market dynamics of the major competitors in the industry and respond accordingly to benefit from the market.