The Indian online pharmacy market is estimated to grow at a CAGR of 20.1% during the forecast period. The Indian pharmaceuticals market is the third largest in terms of volume and in the top 15 in terms of value, globally. The growth in pharmaceutical market will be majorly driven by the high burden of disease, good economic growth leading to higher disposable incomes, improvements in healthcare infrastructure, and improved healthcare financing, to name a few. India is expected to be among the top three pharmaceutical markets by incremental growth and the sixth largest market globally in absolute size by the end of 2020, in turn, providing a plethora of opportunities for the online pharmacy market.

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Online pharmacy is at its nascent stage in India, but like other categories, has the potential to be a very large industry segment in the near future. The online purchase of medicines is gaining momentum in India. The advent of online pharmacy retailers in the Indian market will further increase the penetration of the organized pharmacy segment. It is expected that the online pharmacy model could account for 15%-20% of the total pharma sales in India over next 10 years, largely by enhancing adherence and access to medicines for a majority of the under-served population.  Further, with the advent of the COVID-19 pandemic, it has been observed that individuals substantially preferred online sales channel for getting pharmacies, in lieu of going out for the same.

The Indian online pharmacy market is segmented based on medicine type. Based on medicine type, the online pharmacy market is segmented into OTC medicines and prescription medicines. OTC medicines is leading the medicine type segment by a large margin, whereas the prescription medicines is the fastest growing segment in India. 

Currently, many online pharmacy players that include 1 MG, Amazon.com, Inc. (PillPack), Medlife International Pvt. Ltd., Netmeds Marketplace Ltd., PharmEasy, and Practo Technologies Pvt. Ltd. operate in this segment. Medlife is currently a leading player with about 25% market share of the total e-pharmacy market in India. 

Research Methodology

The market study of the Indian online pharmacy market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Indian Online Pharmacy Market Research and Analysis by Medicine Type

The Report Covers

• Comprehensive research methodology of the Indian online pharmacy market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regulations and other government policies impacting the Indian online pharmacy market.
• Insights about market determinants which are stimulating the Indian online pharmacy market.
• Extensive profiles and recent developments of market players.