Health

Pharmacy Retail Market Outlook – Growing Pharma Sector and Rising Consumer Awareness Driving Growth

Netscribes, Inc. launches a report on Pharmacy Retail Market in India 2017 covering a market with strong growth potential. It is a part of Netscribes’ Healthcare Industry Series.
( PR4US.com | Press Release | 2017-10-10 23:12:00 )
Mumbai, India – October 10, 2017 – Global market intelligence firm, Netscribes, Inc. released its latest report on the ‘Pharmacy Retail Market in India 2017’ https://www.researchonindia.com/pharmacy-retail-market-in-india-2017-13624.html. Increased spending on medicines and growing health awareness are strong determinants of growth for the Indian pharmacy retail market.

Netscribes' latest market research report titled Pharmacy Retail Market in India 2017 throws light on the distinctly fragmented nature of the market, with only 6% of the market currently falling in the organized segment. The market is expected to reach a value of INR 2.9 bn by 2022. Presently dominated by the unorganized segment, the market is expected to shift towards an organized nature with more and more consumers preferring to buy medicines online and from pharmacy retail chains. Organized retail pharmacies provide various value added services such as selling medicines in air-conditioned surroundings, 24x7 operations, home delivery, options to pay online or through debit and credit cards, insurance cover and nurse station. Most organized players operate regionally. In order to retain existing customers and attract new customers, most organized players provide loyalty schemes in the form of rewards points, gifts and free health insurance.

The varied disease profile existing in the country and the emergence of newer diseases is helping the pharmacy retail market in India to grow considerably. Moreover, the demographic structure of the country, with a large population of people aged above 60 years, is resulting in a higher need for medicines. This in turn is helping the country’s pharmacies to experience strong demand for the products it retails. However, the pharmacy sector in India tends to suffer from the circulation of sub-standard and counterfeit drugs which hampers the retail segment of the business. The government too is undertaking efforts to provide medicines at subsidized rates as well as provide tele-consultation services and distribute medicines in rural areas. This can have a negative effect on the sector’s growth. Despite this, pharmacy retail segment comprises a stable market at present and has strong growth potential in the upcoming years.

Customizations Available
With the given market data, Research on India offers customizations according to specific needs. Write to us at support@researchonindia.com

For more details on the content of each report and ordering information please contact:

Phone:+91 33 4027 6243/6222; +91 33 4027 6200/6207; +91 22 4098 7600
E-Mail: support@researchonindia.com ; info@netscribes.com

About Netscribes

Netscribes (www.netscribes.com) is a global market intelligence and content management firm with services across the research and information value chain. Venture-funded by US and Singapore private equity firms, the company provides tactical and actionable insights to its clients and enables effective decision-making and strategic implementation.

For more information please write to info@netscribes.com


Press Information


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Ankita Basu

+91 33 4027 6243
Office No. 504, 5th Floor, Lodha Supremus, Lower Parel
400012 Mumbai - India
https://www.netscribes.com/

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