Report Ocean introduces a fresh report examining the “India E-Pharmacy Market” encompassing its size, share, growth, industry trends, and forecast up to 2030. This comprehensive analysis delves into various industry components and growth patterns that offer valuable insights for anticipating the market’s future trajectory.
The e-pharmacy market in India was valued at INR 50.71 Billion in 2020, and it is expected to reach INR 458.14 Billion by 2026, growing at a CAGR of ~44.99% during the forecast period from 2021 to 2026.
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In recent years, e-pharmacy has emerged as a more convenient and efficient approach for consumers, providing superior customer solutions over physical counterparts.
The market is categorized into two segments: chronic and acute therapy. The chronic therapy segment dominated the market in 2020, accounting for 63.42% of the revenue, while the acute therapy segment is expected to achieve promising growth during the forecast period.
Increased penetration of the internet and smartphones, prevalence of lifestyle diseases, and government initiatives have fueled the growth of the e-pharmacy market. However, factors such as discounts impacting profitability, data breaches and cybercrime, pharmacovigilance, and bottleneck in the supply network impede its development.
Several start-ups, leading e-commerce companies, and traditional brick-and-mortar stores have entered the market, attracted by its immense growth potential. In 2020, major players such as Amazon, Reliance, and Tata entered the market.
The COVID-19 pandemic has disrupted the nationwide healthcare system and severely impacted online pharmacy. However, e-commerce platforms such as e-pharmacy have developed more in this situation. The market witnessed a huge spike in sales during the second wave and is expected to rise again when the third wave hits. Creating alliances with local pharmacy retailers enabled key players to address the gaps in their last-mile deliveries. Measures such as collaborating with e-payment platforms were taken to ensure safe and convenient transactions, thereby attracting cashbacks, discounts, and COD options in remote areas.
Some of the key players operating in the e-pharmacy market in India are 91Streets Media Technologies Private Limited (PharmEasy), 1mg, MedPlus Health Services Private Limited, Netmeds Marketplace Limited, Medlife, Apollo Pharmacies Pvt. Limited, Healthkart, mCHEMIST Global Private Limited, Medsonway Solutions Pvt Ltd, and Truemeds.
In June 2021, Tata Digital bought the key e-pharmacy player, 1mg, and in the same month, PharmEasy acquired a 66% stake in Thyrocare.
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The report addresses the following key questions regarding the India E-Pharmacy market:
- What is the expected growth rate of the market in the upcoming years and what factors are driving this growth?
- How do consumers perceive and adopt different types of India E-Pharmacy in the market?
- How are regulatory policies and government initiatives impacting the growth of the India E-Pharmacy market?
- What is the market share of the top 5 players in the India E-Pharmacy market and how is it likely to change in the future?
- What are the latest technologies and innovations in the India E-Pharmacy market and how are they shaping the industry landscape?
- How do macroeconomic factors such as inflation, GDP, and exchange rates affect the India E-Pharmacy market?
- What are the challenges related to the supply chain and logistics that India E-Pharmacy market players face and how are they addressing them?
- How is the changing consumer behavior and preferences influencing the dynamics of the India E-Pharmacy market?
- What are the potential risks and uncertainties associated with investing in the India E-Pharmacy market, and how can they be mitigated?
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of India E-Pharmacy market revenues on a global, regional, and country level, projecting trends until 2030. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the India E-Pharmacy market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the India E-Pharmacy market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate India E-Pharmacy business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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