India E-Pharmacy Market Report 2022: Chronic Conditions Segment Dominated the Market in 2021 - Forecasts to 2027 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--May 3, 2023--
The "E-pharmacy Market in India 2022-2027" report has been added to ResearchAndMarkets.com's offering.
It is anticipated to expand at a compound annual growth rate (CAGR) of 22.20% from 2022 to 2027, when it is expected to reach INR 89.47 Bn.
Compared to its physical counterparts, e-pharmacy has emerged in recent years as a superior and more practical strategy for addressing consumer problems and delivering excellent customer solutions. In 2021, the market for online pharmacies was worth INR 25.50 Bn.
Segment insights:
The market is divided into two categories: acute therapy and chronic therapy. Chronic conditions dominated the market, accounting for 61.83% of the market revenue in 2021. During the forecast period, this segment is expected to lead.
But in 2027, its market share will probably fall to 52.34%. The acute therapy market is expected to expand reasonably during the forecast period. According to projections, between 2022 and 2027, its market share will grow at a CAGR of 47.66%, from 38.17% in 2021 to 46.08% in 2027.
Customers who have chronic conditions need long-term treatment and frequently take medication. Due to the availability of a wide variety of medicines at discounted prices, people favor e-pharmacy platforms. In the upcoming years, consumers may select these platforms for treating severe illnesses like the common cold.
Market influencers:
The market has grown in recent years due to increased internet and smartphone penetration, the prevalence of lifestyle diseases, and government initiatives. Discounts that harm profitability, data breaches and cybercrime, pharmacovigilance, and bottlenecks in the supply network are just a few of the issues that prevent its growth.
The market has seen several start-ups, top e-commerce companies, and conventional brick-and-mortar stores enter it due to its tremendous growth potential. It saw the entry of significant players like Amazon, Reliance, and Tata in 2020.
Impact of COVID-19:
The nationwide healthcare system was affected heavily by the COVID-19 pandemic and online pharmacies. In this situation, e-commerce platforms like e-pharmacy have grown more with the arrival of the second wave.
During the second wave, the market saw a significant increase in sales. After the third wave, it should start to rise once more. To fill the gaps in their last-mile deliveries, key players were able to do so by forming alliances with neighbourhood pharmacy retailers.
Additionally, steps were taken to ensure safe and convenient transactions, including working with e-payment platforms. This attracted cash back, discounts, and COD options in remote areas, which also helped draw in customers from rural areas.
Key Topics Covered:
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 (2020 - 2027e)
4.2. Number of households using e-pharmacy (2020 - 2027e)
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 (%) (2020 - 2027e)
5.1.2. E-pharmacy market in India for chronic therapy segment (2020 - 2027e)
5.1.3. E-pharmacy market in India for acute therapy segment (2020 - 2027e)
Chapter 6: Business model
6.1. Business model
Chapter 7: Technology landscape
7.1. Key technologies
7.2. Tech-stack of key companies
Chapter 8: Post COVID-19 Impact Analysis
8.1. Impact on various stakeholders
8.1.1. Consumers
8.1.2. E-pharmacy companies
8.1.3. Government
8.2. Changes ahead
Chapter 9: Market influencers
9.1. Market drivers
9.2. Market challenges
Chapter 10: Funding
10.1. Funding
Chapter 11: Company benchmarking
11.1. Player benchmarking
11.2. Website benchmarking
Chapter 12: Competitive landscape
12.1. MedPlus Health Services Limited
12.1.1. Company information
12.1.2. Business description
12.1.3. Products/Services
12.1.4. Key people
12.2. 1mg
12.3. Apollo Pharmacies Private Limited
12.4. NetMeds Marketplace Limited
12.5. PharmEasy (91Street Media Technologies Private Limited)
12.6. Healthkart
12.7. mCHEMIST Global Private Limited
12.8. Medsonway Solutions Private Limited
12.9. Truemeds
Chapter 13: Recent developments
For more information about this report visit https://www.researchandmarkets.com/r/jpjmn1
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KEYWORD: INDIA ASIA PACIFIC
INDUSTRY KEYWORD: HEALTH PHARMACEUTICAL
SOURCE: Research and Markets
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