India E-Pharmacy Market - Forecasts from 2019 to 2024

The India E-Pharmacy market is projected to grow at a CAGR of 44.39% to reach US$5,467.390 million in 2024 from US$603.291 million in 2018. Today, e-commerce has become a thriving industry in India. Among the several segments of e-commerce, with tremendous potential in the future is the online pharmacy market or e-pharmacy. E-pharmacy is a pharmacy that operated over the internet and sends orders to customers through mail or shipping companies. The e-pharmacy market is slowly gaining momentum in the e-commerce industry space with it showing an impressive market penetration rate in both the rural and urban regions of India. The India e-pharmacy market growth is fuelled by the rise in the number of Indian population using the internet. Further increased access to online services is expected to drive the e-pharma market. Further, government initiatives such as digital India, Jan Aushadhi programs for the promotion of generic medicines, telemedicine, and e-healthcare initiatives to provide healthcare and medications to rural parts of India are key factors driving the India e-pharmacy Market.

Drivers

• Increasing number of internet consumers.
• Rising implementation of e-prescription in hospitals
• Increasing access to online services.

Restraints

• Strict government regulations.

Industry Update

• In March 2019, NetMeds acquired health tech startup KiviHealth for 10 million.

Major industry players profiled as part of the report are Netmed Marketplace Limited, MedLidfe International Private Limited, Appollo Pharmacy, 1 Mg, Healthkart, PharmEasy, MedsOnWay Solutions Pvt Ltd, CareOnGo,

Segmentation

The India e-pharmacy market has been analyzed through the following segments:

• By Product Type
• Skin Care
• Dental
• Cold and Flu
• Vitamins
• Others
• By End Use
• Hospitals
• Personal use