India Pharmacy Retail Market Statistics, Trends Analysis Size and Growth Factors by 2030

The "India Pharmacy Retail Market" Report offers a thorough analysis of prominent competitors and their market shares, providing valuable insights into the competitive landscape. Alongside important metrics like sales, revenue, average selling price, and gross margin, the report explores significant growth prospects for industry leaders. Serving as an all-inclusive resource, this research provides a comprehensive overview of the market and its potential for expansion, making it an essential tool for investors and business professionals alike.

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Pharmacy retail refers to the selling of pharmaceutical products, and the market has seen significant growth in recent years. The increasing population and patient pool, as well as the affordability of medicines, have contributed to this growth. Advanced medical infrastructure and the launch of patented drugs have also improved consumers' access to medicines. However, low-profit margins, price control measures, and poor inventory management have hindered the market's growth.

In 2020, the pharmacy retail market was valued at INR 1,783.83 Bn and is expected to reach INR 3,078.46 Bn by 2026, expanding at a CAGR of 12.02%.

The organized retail pharmacy sector stood at INR 134.21 Bn in the same year and is anticipated to reach INR 370.39 Bn by 2026. The unorganized sector was valued at INR 1548.55 Bn in 2020 and is likely to reach INR 2390.20 Bn by 2026. The revenue of the online retail sector stood at INR 38.15 Bn in 2020 and is likely to reach INR 317.87 Bn in 2026. The online retail channel is the fastest-growing segment, with a CAGR of 44.44% from 2022 to 2026, owing to the rise in the number of internet users and technological advancements.

The pharmacy retail market is segmented into organized, unorganized, and online retail channels. The unorganized segment comprises local medical shop owners and holds an 88.70% market share in 2021. The organized sector consists of large players licensed to sell drugs and registered for sales and income tax, with an 8.50% market share in 2021. The online pharmacy retail segment is an emerging segment with a 2.80% market share. The pharmacy retail market is also segmented into generic, OTC, and patented drugs based on drug types. Generic drugs have identical chemical composition, dosage effects, side effects, and administration routes to that of patented original drugs and held a market share of 71% in 2020. OTC drugs can be sold to customers without a prescription through a medical practitioner and held an 18.18% market share in 2021. Patented drugs were introduced by global drug manufacturers, used in various therapeutic areas such as oncology, anti-infective and cardiac treatment, and held a 10.82% market share in 2020.

The COVID-19 pandemic caused disruptions in the global supply chains, leading to a severe shortage of active pharmaceutical ingredients (API) and key starting materials (KSM) in India. However, several indigenous pharmaceutical manufacturers started producing APIs and KSMs to meet the elevated demand in the market. The online pharmacy business also saw increased adoption of digital platforms due to the pandemic. In 2020, the government launched the production linked incentive scheme (PLI) to provide financial support for the production of COVID-19 vaccines in the country. The government also introduced a scheme to establish bulk drug parks to produce APIs, KSMs, and drug intermediates.

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Scope of the Report:

The scope of this report encompasses a comprehensive analysis of the market growth expected to occur from 2023 to 2030. Through meticulous research, we have organized data pertaining to the evolving market structures that exert influence on industries, markets, technologies, and capabilities. Our report presents a thorough examination of relevant statistics, opportunities, challenges, drivers, restraints, limits, market size, share, and trends. By delivering valuable insights, we aim to provide a comprehensive understanding of the market landscape.

Here are the key highlights of the report:

• Comprehensive assessments of the market share for Invisible Braces, conducted at both country and regional levels.
• In-depth analysis of the competitive landscape, identifying key trends within the industry.
• Thorough examination of market trends, encompassing product and technology advancements, drivers and barriers, and an analysis based on PORTER's five forces.
• Strategic recommendations tailored for crucial business segments, leveraging market forecasts.
• Guidance provided for new market entrants, assisting them in navigating the industry landscape.
• Market forecasts encompassing all pertinent segments, sub-segments, and regional markets.

Our sample report encompasses the following elements:

• Introduction, Overview, and In-depth Industry Analysis: A comprehensive analysis of the industry, providing an updated report introduction along with an in-depth examination of key aspects.
• Research Report of 100+ Pages: The report consists of more than 100 pages, incorporating the latest research findings and insights.
• Chapter-wise Guidance: We offer chapter-wise guidance upon request, allowing you to navigate the report and delve into specific areas of interest.
• Updated Regional Analysis with Graphical Representation: Our report includes an updated regional analysis, presented in a graphical format to illustrate the size, share, and emerging trends within each region.
• List of Tables and Figures: It features an updated list of tables and figures that support the information presented in the report.
• Top Market Players: The report includes a comprehensive analysis of the leading market players, highlighting their business strategies, sales volume, and revenue analysis.
• Facts and Factors Research Methodology: Our research methodology is based on a rigorous approach, ensuring the accuracy and reliability of the information presented in the report.

Our most recent research report showcases the thriving expansion of the global India Pharmacy Retail Market and offers in-depth insights into the projected market size, share, and revenue until 2030.

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