2019/12/1 – CRI Report

Mobile Banking Market in India 2019

admin — Sat, 12 Sep 2020 05:24:31 +0000

In India, mobile banking activities have surged over the years, with an increasing number of consumers adopting digital tools to monitor their finances. Mobile banking facilities are provided across the country by ~96,068 scheduled commercial banks (SCBs), through wireless application protocol (WAP), short message systems (SMS) and unstructured supplementary service data (USSD). In recent years, several government initiatives and the launch of payment systems like unified payment interface (UPI) and Bharat interface for money (BHIM) have resulted in increased use of mobile banking.
In FY 2019, INR 29,584.07 Bn amount funds were transferred, using mobile banking, thus increasing at a compound annual growth rate (CAGR) of ~131.21% from INR 1,035.30 Bn in FY 2015. In FY 2019, SCBs recorded the highest growth in mobile banking transactions (~43.17%), based on value, between February 2019 and March 2019. Based on volume, SCBs recorded highest growth (~24.66%) between August 2018 and September 2018 in mobile banking. Major players currently operating in the Indian mobile banking market include Axis Bank Limited, HDFC Bank Limited, Kotak Mahindra Bank Limited and State Bank of India.
Key growth drivers of the market
• The demonetization of the 500 and 1000 currency notes in November 2016 was aimed at transforming India into a cashless economy. Through initiatives like Digital India, the government plans to empower the country technologically, by improving online infrastructure and internet connectivity. Services like banking and utility bill payments are being made accessible to Indians through online platforms, both in urban and rural areas. As a result, a large part of the Indian population now has turned to mobile banking for fund transfer.
• With the introduction of mobile banking channels, customers can avail banking services any time of the day. The installation of a single app makes the various types of banking facilities easily accessible. The instant responses obtained from the mobile banking apps like emPower (Allahabad Bank), Axis Mobile (Axis Bank), Baroda mPassbook (Bank of Baroda), and BOI mobile (Bank of India), improve customers’ experiences. Owing to such benefits, customers’ preference has shifted in favour of mobile banking from branch-based banking.

Key deterrents to the growth of the market
As much as the increased adoption of wireless Internet and mobile data connection has driven mobile banking facilities, it has also led to a rise in fraudulent activities in both the public sector and private banks across the country. Since fund transfer has become easy through mobile banking platforms, the young generation nowadays use application-based mobile banking channels for making miscellaneous digital payments. In the process, chances of data breach and fraudulent activities are high due to successful interoperability. Increased cases of cybercrimes in India have developed fear among the existing, as well as the potential mobile banking app users to adopt digital transaction processes, thus impeding the growth of the mobile banking market in India.
Companies covered
• Allahabad Bank Limited
• Axis Bank Limited
• Bank of Baroda Limited
• Bank of India Limited
• Housing Development Finance Corporation (HDFC) Bank Limited
• Industrial Credit and Investment Corporation of India (ICICI) Bank Limited
• Industrial Development Bank of India (IDBI) Limited
• Kotak Mahindra Bank Limited
• Punjab National Bank Limited
• State Bank of India Limited

The post Mobile Banking Market in India 2019 first appeared on CRI Report.

Wrist Watch Market in India 2019

admin — Sat, 12 Sep 2020 05:23:00 +0000

Over the last decade, wrist watches have gained much popularity as a fashion accessory than a device for telling time. This recognition can be attributed to the high brand consciousness among millennial consumers, celebrity endorsement and aggressive marketing strategies adopted by fashion brands. Delhi, Mumbai and Bengaluru are the leading markets for wrist watches in India, in terms of sales volume.
Market insights
The wrist watch segment accounts for around 80% of the Indian timepiece market. The wrist watch market in India was valued at INR 94.55 Bn in 2018, and is expected to reach INR 192.74 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~13.21%, during the forecast period (2019-2024). In the past few years, smartwatches and premium watches have witnessed a significant growth in demand and popularity. These two are the main components which have attributed to the rapid growth of the wrist watch market. Slashed goods and services tax (GST) rates on luxury watches and increasing fashion consciousness among consumers have further accelerated the market growth. Moreover, with the progressing retail landscape and increase in Internet retailing, the sale of wrist watches is anticipated to experience a swift increase in the Indian market. However, the presence of counterfeit products is a major challenge for the market. The developing market for fitness bands and activity trackers as substitutes for smartwatches, also impedes the growth of the wrist watch market.
Market segment analysis
Based on the price range of products, the wrist watch market in India is segmented into mass price, economy price and premium price segments. In India, the mass price segment is operated mostly by the unorganized sector. The customer-base of the economy price segment is the highest and comprises mainly the millennial and working demography of the country. The revenue generated from the sale of products in the economy price segment accounted for ~37.95% of the overall market revenue in 2018. The demand for premium branded watches is predicted to expand at a rapid growth rate of ~13.75% during this period, owing to the increase in average disposable income, steady expansion of retail network by international fashion brands in tier II and tier III cities and increase in fashion consciousness among people.

Competition analysis
Some of the major players in the market include Titan Company Limited, Casio India Co. Private Limited, Rolex Watch Company Private Limited and Timex Group India Limited. Among these accomplished players, the industry is being led by Titan Company Limited, accounting for approximately 40% of the overall wrist watch market, for almost a decade. As a strategic move to capture higher market share, players are trying to diversify their product portfolios by introducing smart watches in their product portfolio. In 2019, the overall sales volume of smart watches in India was about 34,200 units. The companies are coming up with innovative ranges of products incorporated with new features and technologies that are likely to further intensify the competition.

Companies covered
• Timex Group India Limited
• Titan Company Limited
• Casio India Co. Private Limited
• Citizen Watches (India) Private Limited
• Fossil India Private Limited
• PA Time Industries (Maxima Watches)
• Rolex Watch Company Private Limited
• Swatch Group (India) Private Limited

The post Wrist Watch Market in India 2019 first appeared on CRI Report.

Technology Landscape in India E-commerce Market 2019

admin — Sat, 12 Sep 2020 05:22:32 +0000

The e-commerce market in India was valued at INR 3,550.70 Bn in 2018 and is expected to reach INR 10,494.38 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~18.15% during the 2019-2024 period. To stay afloat in the competitive market, e-commerce companies are incorporating advanced technologies such as Internet of Things (IoT), voice recognition, fintech, robotics, virtual reality, artificial intelligence (AI) and machine learning (ML) in their online platforms.
Market insights:
E-commerce companies are using virtual and augmented reality (VR & AR) to create virtual showrooms/stores which can provide real-life experiences to customers. These showrooms feature detailed product previews and imitate in-store experiences, which further increase customers’ satisfaction and reduce product return rates.
Payment choices including credit and debit cards, net-banking and e-wallets cater to ~30% of online sales when compared to the cash on delivery (CoD) payment option in India. With support from the government’s Digital India initiative, cashless payment solution using Fintech is expected to enhance the e-commerce market in India. Consequently, e-commerce companies are incorporating Fintech-based payment platforms like Apple Pay, Google Pay and Amazon Pay to improve the security and efficiency of online payment methods.
Artificial intelligence allows e-commerce businesses to identify patterns and trends, which help retailers understand customers’ requirements better. Using AI and ML, e-commerce companies are offering marketing strategies, personalized suggestions, voice-based chatbot assistance and visual searches. Amazon uses machine learning technology to improve address quality, which facilitates timely delivery of packages to its customers.
From managing warehouse to making deliveries, robotics has helped boost e-commerce business operations. In 2019, Flipkart Internet Pvt. Ltd. deployed 100 Automated Guided Vehicles (AGVs) in its Bengaluru sortation center to increase its efficiency by 60%.
By 2021, 70% of the retailers across the world are expected to use IoT technology in their businesses to improve customer experience, enhance supply chain management and unravel new opportunities to increase their net revenue. Indian e-commerce companies are heavily investing in IoT devices such as sensors and RFID tags, among other devices, to achieve real-time visibility in their warehouses. Apart from instantaneous tracking and monitoring of warehouses, these IoT devices also eliminate chances of human errors while handling goods.
Companies covered
• Adobe Systems India Pvt. Ltd.
• Akamai Technologies India Pvt. Ltd.
• Amazon Internet Services Pvt. Ltd.
• Cloudflare, Inc.
• Google India Pvt. Ltd.
• IBM India Pvt. Ltd.
• Microsoft India Pvt. Ltd.
• Neustar Data Infotech (India) Pvt. Ltd.
• NGINX Inc.
• Oracle India Pvt. Ltd.

The post Technology Landscape in India E-commerce Market 2019 first appeared on CRI Report.

Skin Care Products Market in India 2019

admin — Sat, 12 Sep 2020 05:22:26 +0000

Owing to rising skin problems such as hyperpigmentation and acne, concern among people about skin health has increased over time, and they are investing handsomely in skin care products. Demand for products made of natural ingredients like sea salts, seaweed extracts and other mineral-rich ingredients that help address skin problems, has picked up in the country.
Market insights:
The skin care products market in India was valued at INR 112 Bn in 2018, and is expected to reach INR 197 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~10.16%, during the forecast period (2019-2024). The rise in disposable income, increased female participation in the workforce, escalating skin problems resulting from high levels of pollution, and growing concern over skin health are the major factors driving market growth. Due to increased sense of self care, men are also indulging in skin care products, allowing FMCG giants to launch skin care brands exclusively for men. A number of players in the skin care products market like Nivea and L’Oreal are coming up with innovative products like specialized anti-aging creams, separate night and day creams, anti-wrinkle creams and sunscreens ranging from SPF 15 to 150, leading to market expansion.
Market segment insights:
Based on product type, the skin care products market is segmented into face care, body care, sun care and other skin care products. In 2018, the face care products segment held the largest market share (~57%), followed by the body care (~29%), the sun care and other skin care products segments. Major brands operating in the skin care products segments are Fair and Lovely, Pond’s, Boroplus, Fair and Handsome, Garnier, Neutrogena, Clean and Clear, and Olay.

Key growth drivers of the market:
• The purchasing power of women has increased due to a rise in the number of working women, specifically in tier I cities. Increase in the disposable income of women has resulted in escalated demand for skin care products, which is propelling the growth of the market.
• Rise in stress levels, exposure to dust and pollution, and long hours in air-conditioned environments have led to increased skin problems like pigmentation, acne, pimples and sunburns. Therefore, demand for remedial skin care products like sunscreen lotions, whitening creams, and moisturizing creams has picked up. This is a major driver of the skin care products market.

Key deterrents to the growth of the market:
• Consumers in India tend to switch brands if products of similar quality are available at lower price points. Though brand awareness is high among Indian consumers, however, they still switch brands frequently and have low brand loyalty, which presents a challenge for the companies operating in this market. Factors like quality, price, allergic reactions, recommendations, ineffectiveness of products, and unavailability of products, sales and marketing of other brands are encouraging consumers to explore other skin care brands.
• Sale of counterfeit products available online is on the rise because they are inexpensive, which works in favour of India’s price sensitive consumers. Counterfeit products are raising significant legal concerns for manufacturers, distributors and retailers, along with affecting consumers’ well-being. Hence, counterfeit skin care products are a threat to the growth of the market.
Competition analysis:
Consumers tend to purchase skin care products based on the quality and reputation associated with a brand. Therefore, to gain high sales volume and revenue in the skin care market in India, a company needs to develop a strong brand identity, which is a difficult task for any new entrant. Several domestic and international players dominate the skin care market in India. These players often compete in terms of price and quality, therefore creating a price advantage for customers.
Companies covered:
• Emami Limited
• Hindustan Unilever Limited
• Procter & Gamble Hygiene and Health care Limited
• Amway India Enterprises Private Limited
• Lotus Herbals Private Limited
• Nykaa E-retail Private Limited
• The Himalaya Drug Company
• Johnson & Johnson Private Limited
• L’Oreal India Private Limited
• Nivea India Private Limited

The post Skin Care Products Market in India 2019 first appeared on CRI Report.

Online Education Market in India 2019

admin — Sat, 12 Sep 2020 05:21:49 +0000

Online education is a flexible learning method that offers teachings by means of the Internet, which contains web-based courses, e-learning (electronic learning), m-learning (mobile learning), and computer-supported distance education. This type of education is delivered through various ways which include massive open online courses (MOOCs), online courses, hybrid or blended courses, and certification courses.
With the increasing adoption of the Internet and rise in awareness about e-learning, the online education industry is expected to witness promising growth during the forecast period.

Market insights:
The online education market in India was valued at INR 39 Bn in 2018 and is expected to reach INR 360.30 Bn by 2024, expanding at a CAGR of ~43.85% during the 2019-2024 period. Ease of learning, flexibility, and a wide range of study materials have influenced the overall growth of the industry. However, the lack of formal recognition and accreditation, and abundance of freely available content presents a critical threat to the growth of the sector. The industry is moving towards the adoption of innovative technologies like Artificial intelligence (AI) and machine learning (ML), Big Data Analytics, Blockchain and others to improve the learning experience.

Market segment insights:
The online education market is segmented into primary and secondary supplemental education, test preparation, reskilling and certification, higher education language, and casual learning. The online primary and secondary supplemental education segment was valued at INR 11.99 Bn in 2018 and is expected to reach INR 123.65 Bn by 2024, expanding at a CAGR of ~46.48% during the 2019-2024 period. The change in consumer behavior towards detailed learning and surge in demand from tier II and tier III cities are driving the growth of this segment.
The online test preparation market is expected to reach INR 94.75 Bn by 2024, expanding at a CAGR of ~50.84% during the 2019-2024 period. This segment is expected to be the fastest-growing segment in the online education market, owing to growth in career-focused population, enhanced Internet infrastructure and increased penetration of digital payment methods.
The online reskilling and certification market is expected to reach INR 93.81 Bn by 2024, expanding at a CAGR of ~36.95% during the 2019-2024 period. The growing business landscape has widened the skill gap among employees, which is why the demand for reskilling courses is picking up.
The online higher education market was valued at INR 5.01 Bn in 2018 and is expected to reach INR 40.63 Bn by 2024, expanding at a CAGR of ~40.74% during the 2019-2024 period. The conventional education system is insufficient for the growing population, and therefore students are switching to online higher education courses.

Key market trends:
Gamification is one of the most prevalent trends among online education providers to encourage learning through immersive experiences. Simulation of concepts, level advancement badges and incentive-based learning are driving user engagement on online education platforms. Online learning players, nowadays, are continuously competing to offer differentiated products to the target audience, mostly by offering value-added services with regular courses. Value-added services like internships, live projects, group discussions, and career counselling sessions, offered along with regular courses enhance users’ experiences.

Competition analysis:
The Indian online education market is highly fragmented with around 3,500 edtech start-ups operating in the country. Many foreign players are entering the Indian online education industry. BYJU’s, Udemy, Coursera and Duolingo are a few prominent players in the industry, catering to the requirements of different target audiences.

Companies covered:
• NIIT Limited
• Aeon Learning Private Limited
• Coursera Inc.
• Duolingo Inc.
• Individual Learning Private Limited
• Simplilearn Solutions Private Limited
• Sorting Hat Technologies Private Limited
• Think and Learn Private Limited
• Udemy India LLP
• upGrad Education Private Limited

The post Online Education Market in India 2019 first appeared on CRI Report.

Eyewear Market in India 2019

admin — Sat, 12 Sep 2020 05:21:30 +0000

Over the last decade, there has been a remarkable increase in the use of eyeglasses and contact lenses in India, owing to the rise in eye diseases and vision disorders like myopia, hypermetropia, and presbyopia. Moreover, over time, from functioning as a vision corrective product, eyewear has turned into a fashion accessory. This has further popularized the use of sunglasses and eyeglasses in India.

Market insights
The eyewear market in India was valued at INR 492.37 Bn in 2018, and is expected to reach
INR 966.73 Bn by 2024, expanding at a compound annual growth rate (CAGR) of ~11.90%, during the 2019-2024 period. The demand for prescription eyeglasses and contact lenses has picked up in the Indian market, owing to vision disorders, unhealthy lifestyle and age-related impairments among people. Rise in fashion and brand consciousness among the young population of the country and increase in the sale of branded eyewear are some of the important factors fueling the growth of prescription eyewear, as well as sunglasses in the domestic eyewear market. On the other hand, initiatives undertaken by the Indian government like setting up of free eye check-up and vision treatment programs have also contributed towards the growth of the eyewear market in India. However, presence of counterfeit products in the market and the increasing popularity of vision corrective surgeries act as major pitfalls for the market.

Market segmentation analysis
Based on product type, the India eyewear market is segmented into spectacles, sunglasses and contact lenses. Value-wise, in 2018, the spectacles segment captured the highest market share (~70.15%). The segment is expected to continue accounting for the highest market share throughout the forecast period due to unhealthy lifestyles and increasing exposure to display screens. In terms of market revenue, the sunglass and contact lens segments are expected to account for ~18.47% and ~10.60% market shares, respectively, in 2024.

Competition analysis
In India, the eyewear market is composed of both organized and unorganized players. The unorganized sector dominates the market with almost 70% market share. Titan Company Limited, GKB Opticals Limited, Lenskart Solutions Private Limited, Bausch & Lomb India Private Limited, and Johnson & Johnson Private Limited are some of the major players operating in the organized eyewear market. These players have accelerated the sale of eyewear products by generating awareness regarding vision disorders and setting up free eye check-up camps in tier-II and tier-III cities. Price differentiation between branded and unbranded eyewear products poses challenge for organized players to capture a substantial market share in the overall eyewear market.

Companies covered
• GKB Opticals Limited
• Hidesign India Private Limited
• Lenskart Solutions Private Limited
• Ronak Optik Private Limited
• Titan Company Limited
• Bausch & Lomb India Private Limited
• Johnson & Johnson Private Limited
• Rayban Sun Optics India Private Limited
• Safilo India Private Limited
• Sterling Meta Plast India Private Limited

The post Eyewear Market in India 2019 first appeared on CRI Report.

Auto Ancillary Market in India 2019

admin — Sat, 12 Sep 2020 05:20:42 +0000

The auto ancillary market in India deals with the production and sale of intermediate equipment and automotive parts that are used in automobile manufacturing. It is a crucial part of the automotive industry in India. The market is segmented into organized and unorganized sectors. The organized sector serves original equipment manufacturers (OEMs) and deals in high-value instruments. In contrast, the unorganized sector serves the aftermarket with low-value tools and parts. The auto ancillary market in India is moving towards the production of electric vehicle parts and components. Further, it is expected that the Indian auto ancillary market would be the third-largest in the world by 2025.
Market insights:
Performance of the automotive industry in India largely affects the auto ancillary sector. In terms of volume, automobile sales in India increased at a compound annual growth rate (CAGR) of ~6.71% during the FY 2013-FY 2019 period, with 26.27 Mn units of vehicles being sold in FY 2019. The domestic automobile production expanded at a CAGR of ~6.96% during the FY 2013-FY 2019 period, with production volume reaching 30.92 Mn units in FY 2019.
The auto ancillary market in India was valued at INR 3,936.96 Bn in FY 2019 and is expected to reach INR 8,401.30 Bn by FY 2024, expanding at a CAGR of ~16.94% during the FY 2020-FY 2024 period. In terms of revenue contribution, the auto ancillary market in India is dominated by OEM suppliers, accounting for ~55.98% of the industry, followed by the exports and aftermarket segments. However, in terms of the number of players, the market is dominated by the aftermarket segment.
Government initiatives:
The government has formulated various policies to boost the growth of the auto ancillary market in India. Auto Policy 2002, Automotive Mission Plan 2016-2026, National Automotive Testing and R&D Infrastructure Project (NATRIP), National Electric Mobility Mission Plan 2020 (NEMMP), and Faster Adoption & Manufacturing of Electric Hybrid Vehicles (FAME) Scheme II are a few significant programs launched by the Indian government. Moreover, other initiatives include providing R&D incentives for industry and private sponsored research, granting export subsidy under the Merchandise Exports from India Scheme (MEIS) and offering incentives to players operating in Special Economic Zones (SEZs)/National Investment & Manufacturing Zones (NIMZs).

Key growth drivers of the market:
• The enforcement of BS-VI standards of safety and emission is expected to help the export market grow for the benefit of auto component players in India during the forecast period
• Further, India is growing as a cost-effective manufacturing base, owing to its preferable location for foreign players to set up their manufacturing units, thereby augmenting the development of the auto ancillary market in India
Key deterrents to the growth of the market:
• Even though there has been a growth in annual production for the overall automotive industry, consumption in recent quarters (2019 onwards) experienced a decline due to liquidity crisis for Non-Banking Financial Companies (NBFCs), rise in automotive acquisition costs and high goods and service tax (GST) rates
• Moreover, lack of research and development infrastructure and quality standards present a considerable threat to the auto ancillary industry in India

Competition analysis:
The Indian auto ancillary market is highly fragmented, the organized sector (OEMs) being dominated by a few major players like Bharat Forge Limited, Mahindra CIE Automotive Limited, Bosch Limited and Sundram Fasteners Limited. The unorganized sector consists of the aftermarket segment, where most of the small and medium enterprises (SME) are from the tier II and tier III cities.
Companies covered:
• Amtek Auto Limited
• Bharat Forge Limited
• Bosch Limited
• Exide Industries Limited
• Gabriel India Limited
• Mahindra CIE Automotive Limited
• Sundram Fasteners Limited
• TVS Motor Limited
• Nifco India Private Limited
• ARaymond Fasteners India Private Limited

The post Auto Ancillary Market in India 2019 first appeared on CRI Report.

Pharmacy Retail Market in India 2019

admin — Sat, 12 Sep 2020 05:19:50 +0000

Pharmacy Retail Market in India

The pharmacy retail market in India has witnessed significant growth over the past few years, owing to favourable demographic factors and an epidemiological transition. In terms of revenue, the pharmacy retail market in India was valued at INR 996.68 Bn in 2016 and is projected to reach INR 2,330.20 Bn by 2024, expanding at a CAGR of 10.08% during the 2019-2024 period.

The market is majorly occupied by unorganized local players. However, the unorganized sector is anticipated to face intense competition from organized players and online retailers.

Market segmentation based on retail channel:
Based on the retail channel, the market is segmented into organized sector, unorganized sector, and online retail. The unorganized sector accounted for the largest market share (~93.00%) in 2018.

The market share of the organized sector, which consists of licensed and registered players, is estimated to increase steadily over the forecast period.

The online retail segment is projected to expand at a CAGR of ~33.95% during the 2019-2024 period, owing to strong digital infrastructure in the country.

Market segmentation based on drug type:
The generic drugs segment dominated the retail pharmacy market in India, followed by the OTC drugs and patented drugs segments. The low price of generic drugs attributed to its leading share.

The OTC drugs segment is predicted to be the second-leading segment of the pharmacy retail market with a share of ~22.40% in 2024. The inclusion of various medicines under the OTC category, coupled with a preference towards self-medication is predicted to drive the growth of the OTC drugs segment.

The market share of the patented drugs segment is estimated to increase by 5.4% from 2018 to 2024, owing to the launch of various patented drugs in the Indian market.

Market segmentation based on therapeutic area:
In terms of revenue, anti-infectives was the largest therapeutic segment of the India pharmacy retail market in 2018, followed by the cardiac, gastrointestinal, and anti-diabetic segments. The cardiac therapeutic segment is estimated to surpass the anti-infectives segment during the forecast period.

The cardiac segment is anticipated to account for a share of ~14.11% in 2024. The changing disease profile in the country and increasing cases of chronic non-communicable diseases are anticipated to contribute to the growth of cardiac, anti-diabetic, dermatological, and neurological therapeutic segments.

Market influencers:
Increased affordability, improved accessibility and epidemiological transition are expected to fuel the pharmacy retail market in India during the forecast period. The rise in per capita income and penetration of health insurance coverage has bolstered Indian consumers’ affordability. A significant increase in the number of Indians covered under health insurance has helped propel consumer spending on pharmaceuticals.

With the rise in public healthcare expenditure, pharmaceuticals have become more accessible, thereby fueling the pharmacy retail market, especially in rural areas and tier-II cities. Furthermore, the launch of various patented drugs by international pharmaceutical companies resulted in an incremental increase in pharmaceutical sales.

The growing incidence of chronic diseases like hypertension, diabetes, cardiovascular diseases, and cancer, which requires prolonged medication, is expected to further drive the growth of the pharmacy retail market in India during the forecast period.

The sluggish economic growth in the country, owing to factors like agrarian crisis, retail inflation, and lack of fiscal stimulants, have had a negative impact on the profitability of the pharmacy retail market. Index of industrial production (IIP) growth rate of the pharmaceutical industry has experienced a declining trend; the growth rate declined from 30.4% in FY 2017 to 1.6% in FY 2019.

Furthermore, uncertainty in drug pricing has posed a substantial challenge in the pharmacy retail market by way of affecting investors’ sentiments. The implementation of GST has further burdened pharmacy retailers with a low inventory stock and consequent reductions in profitability.

Emergence of online retailers
The e-pharmacy market in India has evolved from its nascent stage to a promising market with strong growth potential. The influx of investments and a rise in Internet subscribers have helped shape up the e-pharmacy market in the country. Online players like Netmeds, 1mg, PharmEasy and MedLife have recently emerged in the Indian pharmacy retail market.

Along with core online players, various traditional offline companies have expanded their retail operations in the online platform to offer value-added services to customers.

Companies covered
• Apollo Pharmacies Limited
• Emami Frank Ross Limited
• Global Healthline Private Limited
• Medlife
• MedPlus Health Services Private Limited
• Netmeds Marketplace Limited
• Noble Medichem Pvt Ltd. (Noble Plus)
• RWL Healthworld Limited (Fortis Health World)
• Wellness Forever Pharmacy
• 91Streets Media Technologies Private Limited (PharmEasy)

Pharmacy Retail Market in India 2020

The post Pharmacy Retail Market in India 2019 first appeared on CRI Report.