Pharmacy Retail Market in India 2014

The Pharmacy Retail Market in India is a considerably big market already but has tremendous scope to grow further. Retail pharmacy outlets happens to be the most dominant distribution channel that is responsible for satisfying customer needs of pharmaceutical and allied products directly.

The report begins with the introduction section that deals with the growing significance and work scope of pharmacy retailers followed by the various formats of stores prevalent in the country and the distribution channel from pharmacy manufacturer to the retailer.

The market overview section provides an insight into the current and forecasted market size of the pharmacy retail market till 2016. The significance of retail outlets as the most popular pharmacy sales source is conceived from the market trend figures.

The report is then provided with the driving factors that are encouraging the pharmacy retail market among which the growing pharmaceutical market finds a prominent position. Increased healthcare spending, changing disease profile, growing OTC segment, consumer's attitude towards their disease and illness and lucrative profit margins evolve as the possible reasons for the industry to prosper. A detailed analysis has been made of the drivers. The key challenges of the industry have also been analysed of which fragmentation of the market into organized and unorganized sections is a primary reason. Others include long distribution and supply chain that involves too many middlemen in the business and the existence of counterfeit drugs.

The report further discusses the emerging trends that are being applied for improved pharmacy retail services that include aspects like loyalty schemes, value added services, counterfeit drug tracking, tele consultation service, government's participation in pharmacy retailing, organized players setting up retail pharmacy chains, entry of private labels and expansion of pharmacy outlets to rural belts of the country and availability of health insurance kits in the pharmacy outlets.

The report includes a section of the technological trends being adopted by the retail chains to draw in more customers by providing the loyalty and value added services. The technological advancements being used include Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) and Supply Chain management (SCM).

The report further entails the role of government in the market and how it controls the pharmacy outlets which have a direct impact on the customer's health and well being but having sufficient consideration for the players in the business so that they can fulfill their role of making available medicines for the well being of the people.

The competition section provides an overview of the competitive landscape in the market. The section includes Porter's 5 Forces Analysis of the market. Elaborate company profiles of the major players in the market with general company information, product lines and segmentation, financials have been incorporated. The financials provided is well analysed through key ratios which depict the financial position of the pharmacy retailers in terms of its revenue earning and profitability, business highlights and recent developments of the respective company for both domestic and foreign players.

The strategic recommendations section focuses on some effective strategic decisions which can be taken up by companies to increase their market shares. The recommendations provided can prove to be useful for the existing as well as potential entrants into the market.