E-Pharmacy Market in India 2020

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Description

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

Additional information

Geography Covered

Date Published

Pages

Table of Contents

Chapter 1: Executive summary

Chapter 2: Socio-economic indicators

Chapter 3: Introduction
3.1. Market definition and structure
3.2. Stakeholders in ecosystem
3.2.1. Value proposition
3.2.2. Concerns

Chapter 4: Market overview
4.1. India e-pharmacy market overview
4.1.1. Market size and growth forecast (2019-2025e)
4.2. Number of households using e-pharmacy (2019-2025e)
4.3. Market snapshot

Chapter 5: Market segmentation
5.1. E-pharmacy market in India – Segmentation based on type
5.1.1. India e-pharmacy market share (%) (2019- 2025e)
5.1.2. E-pharmacy market in India for chronic therapy (2019-2025e)
5.1.3. E-pharmacy market in India for acute therapy (2019-2025e)

Chapter 6: Business model
6.1. Business model

Chapter 7: Merger and acquisition
7.1. Merger and acquisition
Chapter 8: Technology landscape
8.1. Key technologies
8.2. Tech-stack of key companies

Chapter 9: Impact of COVID-19
9.1. Impact on various stakeholders
9.1.1. Consumers
9.1.2. E-pharmacy companies
9.1.3. Government
9.2. Changes ahead

Chapter 10: Market influencers
10.1. Market drivers
10.2. Market challenges
Chapter 11: Funding
11.1. Funding

Chapter 12: Company benchmarking
12.1. Player benchmarking
12.2. Website benchmarking

Chapter 13: Competitive landscape
13.1. Apollo Pharmacies Limited
13.1.1. Company information
13.1.2. Business description
13.1.3. Products/Services
13.1.4. Key people
13.2. Medlife
13.3. MedPlus Health Services Private Limited
13.4. Netmeds Marketplace Limited
13.5. 1mg
13.6. 91Streets Media Technologies Private Limited (PharmEasy)
13.7. Healthkart
13.8. mCHEMIST Global Private  Limited
13.9. Medsonway Solutions Pvt Ltd
13.10. Truemeds

Chapter 14: Recent developments
14.1. Recent developments
Chapter 15: Appendix
15.1. Research methodology
15.2. About Netscribes
15.3. Disclaimer