Summary

India E pharmacy market stood at USD344.78 million in FY2021 and is expected to witness a robust growth of around 21.28% during the forecast period. This can be attributed to the growing internet penetration across the country. As of January 2021, the number of internet users in India rose by around 47 million and reached 624 million. The internet penetration rate stood at around 45% in January 2021. Additionally, the digital India campaign by the government of India is further expected to fuel the market growth through FY2027F. Increasing digitization has in turn led to an increasing e-commerce adoption. Also, changing consumer preferences towards online shopping has led to a widespread penetration of various e-commerce channels and pharmacies selling medicines online. This in turn is expected to support the market growth through FY2027F.Furthermore, growing awareness among the population with respect to counterfeit drugs is driving people towards organized and digital channels offering medicines, thereby supporting the market growth over the next few years.

India E pharmacy market is segmented into drug type, product type, operating platform, business model, region, and company. In terms of drug type, the market can be split into prescription drugs and over the counter (OTC) drugs. The prescription drugs segment dominated the market in FY2021 with an overall market share of 66.41%. This can be ascribed to the fact all the e pharmacies which are operating in India are not offering drugs without prescription to the patients. If the patient is not having prescription and is not uploading on the e pharmacies portal then the pharmacies have their own doctor consultants who the patient has to consult to and then the doctor consultant of the pharmacies generate a prescription for the patient, which then the patient uploads on the e pharmacy website or app and then place an order for the required medicines.

The major players operating in the India E pharmacy market are API Holdings Private Limited (PharmEasy), Tata Digital Limited (1mg Technologies Pvt. ltd), Apollo Pharmacy Pvt. Ltd., Netmeds Marketplace Ltd (Reliance Retail), Practo Technologies Private Limited, Lybrate, Inc., Docprime Technologies Private Limited, Care On Go, mChemist Global Pvt. Ltd, Medsonway Solutions Pvt Ltd. and others. Companies operating in the market are trying to improve their e pharmacy platforms, adding more products to their existing service portfolio, providing other services such as diagnostic test options, among others in order to stay competitive in the market and having an edge over the other market players. Additionally, companies are also looking for investors who can invest in their e pharmacies channels. Companies are also entering into collaborations; agreements and several mergers & acquisitions are happening in the market.

For instance, in May 2021, API Holdings Private Limited (PharmEasy) acquired 100% stakes of Medlife International Private Limited. With this acquisition Medlife discontinued its operations effective from May 25, 2021 onwards. All the customer base of Medlife was also absorbed by PharmEasy. Medlife customers just need to login to the PharmEasy app to start using their Medlife account via the same mobile number. All their digitized prescriptions and saved addresses dating back to a year will be available on the app. This is one of the largest deals which has been witnessed in the India E Pharmacy market till date.
Years considered for this report:
Historical Years: FY2017-FY2020
Base Year: FY2021
Estimated Year: FY2022E
Forecast Period: FY2023F–FY2027F
Objective of the Study:
• To analyze the historical growth in the market size of India E pharmacy market from FY2017 to FY2021.
• To estimate and forecast the market size of India E pharmacy market from FY2022 to FY2027F and growth rate until FY2027F.
• To classify and forecast India E pharmacy market based on drug type, product type, operating platform, business model, region, and company.
• To identify dominant region or segment in the India E pharmacy market
• To identify drivers and challenges for India E pharmacy market
• To examine competitive developments such as expansions, new services launch, mergers & acquisitions, etc., in India E pharmacy market.
• To identify and analyze the profile of leading players operating in India E pharmacy market.
• To identify key sustainable strategies adopted by market players in India E pharmacy market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of service providers across India. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the service providers who could not be identified due to the limitations of secondary research. TechSci Research analyzed the service providers, distribution channels and presence of all major players across India.
TechSci Research calculated the market size of India E pharmacy market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and operating platforms for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
• E Pharmacy service provider companies
• Market research and consulting firms
• Government bodies such as regulating authorities and policy makers
• Organizations, forums and alliances related to E Pharmacy market
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as service providers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, India E pharmacy market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
• India E Pharmacy Market, By Drug Type:
o Prescription Drugs
o Over the Counter (OTC) Drugs
• India E Pharmacy Market, By Product Type:
o Chronic Diseases
o Skincare
o Nutritional Supplements
o Medical Equipment
o Others
• India E Pharmacy Market, By Operating Platform:
o Website
o Apps
• India E Pharmacy Market, By Business Model:
o Inventory/Warehouse Based Model
o Market Place Based Model
• India E Pharmacy Market, By Region:
o South
o North
o West
o East
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in India E pharmacy market.
Available Customizations:
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Company Information
• Detailed analysis and profiling of additional market players (up to five).

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