1MARKET INTELLIGENCE . CONSULTINGwww.techsciresearch.com

INDIA E PHARMACY MARKETFORECAST & OPPORTUNITIES

FY2017 –FY2027

2

Scope of ReportProduct of Interest (POI): E Pharmacy

Review Period

FY2017 – FY2020

Base Year

FY2021

Estimated Year

FY2022

Forecast Period

FY2023 – FY2027

Year Range

An e-pharmacy is a one-stop online portal where a person can seek medical advice through online consultation, order prescription drugs after duly sharing a copy of the prescription, access OTC health products, and in some cases, even order relevant health check up tests and receive all of these services at their doorstep. Just like other e-commerce portals, online pharmacies offer good discounts and cash back on all services offered.

Market Segmentation

PRODUCT TYPE • Skin Care• Dental• Cold and Flu• Vitamins• Weight Loss• Others

REGION

• North• South• East• West

• Prescription Drugs• Over the Counter (OTC) Drugs

DRUG TYPE

OPERATING PLATFORM

• App• Website

BUSINESS MODEL

• Inventory/Warehouse Based Model• Market Place Based Model

3

Table of ContentsContents

1. Product Overview (Definition of product and major terminologies used in the report)

2. Research Methodology (Detailed description of the methodology used to conduct the research, Raw data backup, list of all secondary sources, List of respondents for primary surveys)

3. Impact of COVID-19 on India E Pharmacy Market

4. Executive Summary (This chapter covers summary of the complete study.)

5.India E Pharmacy Market Outlook, FY2017-FY2027 (This chapter includes a brief overview of the product of interest market such as total market’s growth rate, expected growth rate, key growth levers, leading region, top grossing product types, etc. It includes more of a qualitative information about the market.)

5.1.Market Size & Forecast (This chapter would include the market size i.e., the revenue generated from the India E Pharmacy market in one year. In this case, the market size will be provided in Value terms for historic period (FY2017-FY2020); current/base year (FY2021); estimated year (FY2022E); and forecast (FY2023-FY2027)

5.1.1. By Value

5.2. Market Share & Forecast (The overall product of interest bifurcated/split among various segments. )

5.2.1. By Drug Type (Prescription Drugs and Over the Counter (OTC) Drugs)

5.2.2. By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss and Others)

5.2.3. By Operating Platform (App v/s Website)

5.2.4. By Business Model (Inventory/Warehouse Based Model v/s Market Place Based Model)

5.2.5. By Company (FY2021)

5.2.6. By Region (North, East, West, South)

5.3. Product Market Map

4

Table of ContentsContents

6. North India E Pharmacy Market Outlook, FY2017-FY2027F

6.1. Market Size & Forecast

6.1.1. By Value

6.2. Market Share & Forecast

6.2.1. By Drug Type

6.2.2. By Product Type

6.2.3. By Operating Platform

6.2.4. By Business Platform

7. South India E Pharmacy Market Outlook, FY2017-FY2027F

7.1. Market Size & Forecast

7.1.1. By Value

7.2. Market Share & Forecast

7.2.1. By Drug Type

7.2.2. By Product Type

7.2.3. By Operating Platform

7.2.4. By Business Platform

5

Table of ContentsContents

8. East India E Pharmacy Market Outlook, FY2017-FY2027F

8.1. Market Size & Forecast

8.1.1. By Value

8.2. Market Share & Forecast

8.2.1. By Drug Type

8.2.2. By Product Type

8.2.3. By Operating Platform

8.2.4. By Business Platform

9. West India E Pharmacy Market Outlook, FY2017-FY2027F

9.1. Market Size & Forecast

9.1.1. By Value

9.2. Market Share & Forecast

9.2.1. By Drug Type

9.2.2. By Product Type

9.2.3. By Operating Platform

9.2.4. By Business Platform

6

Table of ContentsContents

10. Market Dynamics (This chapter assesses the major demand drivers and restraints.)

10.1. Drivers

10.2. Challenges

11. Market Trends & Developments (This section captures recent trends pertaining to manufacturing or consumption, market movements in terms of points of production and consumption, advancements and development)

12. Trade Dynamics12.1. Import12.2. Export

13. Policy & Regulatory Landscape14. India Economic Profile15. Competitive Landscape

15.1. Competition Outlook15.2. Company Profiles (Leading Companies)

15.2.1. Company Details15.2.2. Products & Services15.2.3. Financials (As Reported)15.2.4. Key Market Focus & Geographical Presence15.2.5. Recent Developments15.2.5. Key Management Personnel

16. Strategic Recommendations (Based on the findings of the report strategic recommendations on how to enter and expand market share)

17. About Us & Disclaimer

RESEARCH METHODOLOGY

8

Research Methodology

Identifying Key Opinion Leaders

Questionnaire Design In-depth Interviews

Data Collection

Developing List of Respondents

Formulating Questionnaire

Market Profiling

Data Validation

Data Analysis

In-depth secondary research was conducted to determine top players in the India E pharmacy market, overall market size and segmental market size.

In order to conduct industry experts’ interviews, TechSci formulated a detailed discussion guide.

List of industry players and industry specialists was developed.

TechSci conducted interviews with industry experts and industry players for data collection and verification.

Data obtained as a result of primary and secondary research was validated through rigorous triangulation.

The data was scrutinized using MS-Excel, statistical tools and internal proprietary database to obtain qualitative and quantitative insights about the India E pharmacy market.

Data Collection

Data Filter& Analysis

Research &Intelligence

ActionableInsights Business

Solution

Primary Research Desk Research Company Analysis

Recent Developments Market Changing

Aspects/Dynamics Government Policies Conclusion

Market Participants Key Strengths

LinkedIn TechSci

Internal Database

Factiva Hoovers

Paid Sources

Company Websites

Company Annual Reports

White Paper Study

Financial Reports

Investor Presentations

Regulatory Body Associations,

etc.

Secondary Research

Primary Research

9

Research Methodology

Baseline Methodology

Our dedicated team of industry experts has monitored and analyzed various aspects of India E pharmacy market. The team has

analyzed the outlook of various segments of this market, while considering the major influencing factors such as increasing penetration

and growing demand for online ordering of medicine. The study includes market forecasting, which would enable our clients to take

better decisions while planning their strategy to achieve sustainability in India E pharmacy market.

Methodology Followed for Calculation of Market Size:

• Market Size By Value : Market size, in terms of value, for the year FY2021 was calculated based on information collected through

exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders, such as E pharmacy companies,

channel partners, end users, industry experts, and other industry participants.

• The team interviewed more than 40 – 50 companies, suppliers, 180 – 200 end users, and 15 – 20 industry experts and other value &

volume chain stakeholders in the India E pharmacy market to obtain the overall market size from FY2017 to FY2021, which was

validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the

market size data during FY2017-FY2021.

• Respondents were asked about the current and future market growth rates, market shares by drug type, by product type, by

operating platform, by business model, by region and by company. Removing the outlier responses, the geometric mean of growth

estimates and supplier wise revenue shares generated across various segments were considered, to arrive at the final revenue

shares. Revenue shares generated across various segments were further triangulated from other stakeholders.

10

Research Methodology

Methodology Followed for Calculation of Market Shares:

Market shares by drug type, by product type, by operating platform, by business model, by region and by company were calculated

based on the responses received through primary surveys with industry experts, in which the respondents were asked about the

market shares or revenue generated from various segments of E pharmacy market. The final shares were calculated by taking the

geometric mean of the responses gathered from key opinion leaders after eliminating the outliers.

Methodology Followed for Forecasting:

• TechSci Research performed periodical checks on data collected through the surveys with logic checks and analyzed the survey

results in SPSS/Tableau Software.

• Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast

India E pharmacy market, TechSci Research used various forecast techniques such as:

Moving Average

Time Series Analysis

Regression Analysis

Econometric and Judgmental Analysis

11

Research Methodology

TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci

Research also used the impact analysis during short, medium and long term period to estimate the demand and to reach accurate

market numbers. It should be noted that the figures compiled are only for the organized market including market share data.

Partial List of Companies Interviewed Key Secondary Sources

Medlife International Private Limited

1mg Technologies Private Limited

Apollo Pharmacy Pvt. Ltd.

Buy Drug Pvt. Ltd.

Care On Go

Bright Lifecare Pvt. Ltd. (Healthkart)

Medidart Healthcare Services Pvt. Ltd.

MedsonWay Solutions Pvt. Ltd.

Metapharmacy.in

MyraMed

NetMeds Market Place Private Limited

mChemist

World Bank

TechSci Research Proprietary Database & Knowledge

Repository

Company Annual Reports

Industry Magazines

Industry Reports

Statista

News Dailies

Credible Paid Databases

12© TechSci Research

Industry BriefAccording to TechSci Research report, “India E Pharmacy Market By Drug Type (Prescription Drugs and Over the Counter (OTC) Drugs) By Product Type (Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss and Others) By Operating Platform (App v/s Website) By Business Model (Inventory/Warehouse Based Model v/s Market Place Based Model) By Company, By Region, Forecast & Opportunities, FY2027”, India E Pharmacy market is expected to witness steady growth for the next five years. E pharmacy are defined as online platforms from where consumers can buy medicines without visiting the stores physically. Presence of these platforms have significantly increased the convenience of the consumers to a great extent. India has a huge population base which is attracting foreign investments for increasing the E pharmacy in India. Presence of key players in region is accelerating the E pharmacy market demand. High penetration of cloud-based technology is paving the way for market growth. Increasing awareness for availing medicines online among the potential consumers by adopting various strategies is driving the India E pharmacy market demand. Growth in demand for e commerce industry to capture a wide consumer base is influencing the market demand. Plethora of e-pharmacy players have started tie-ups with health insurers by providing financial assistance and cheaper medicines to consumers meanwhile also maintaining the claim ratio. Shift in disease patterns of consumers to lifestyle diseases due to long working hours and less available time for physical activities is creating the need to consume medicines for longer duration. E pharmacy provides medicines at lower costs along with timely reminders to re-stock the medicines. Rapid urbanization and increased consumer spending on medicines is contributing to the market growth in India. Rise in literacy levels is aiding for advanced treatment facilities demand. Use of blockchain based system in e-pharma industries to improve the supply chain and efficiently manage the inventory. Artificial intelligence assisted can be used for collection of symptoms and medical records which may aid to increase the accuracy of treatments. Government initiative such as Jan Aushadi program which gives the facility to avail stores online through an application is expected to drive the awareness among the consumers. E pharmacy eliminates the use of middleman for supply and reduce the possibility for selling sub-standard or counterfeit drugs. Due to the ongoing pandemic COVID-19, lockdown was imposed all over the country. Complete shutdown was observed, and people started practicing social distancing and avoided going out to avail healthcare facilities. Healthcare behavioral change among consumers to follow the precautionary guidelines and technological innovations to increase the convenience of consumers have greatly impacted the demand of E pharmacy in India. However, rising concerns regarding privacy and security of confidential data by consumers may hamper market growth for the forecast period.

India E pharmacy market is segmented into drug type, product type, operating platform, business model, region, and company. Based on drug type, market is further divided into prescription drugs and over the counter (OTC) drugs. Over the counter (OTC) drugs is accounted to hold major market share during the forecast period, FY2023-FY2027. OTC drugs are reliable in providing effective treatment to patients. Also, OTC drug contain the same active pharmaceuticals ingredients as drugs and can be taken without the consult of physician. Convenience of purchasing drugs online with additional offers and discounts by players is influencing the E pharmacy market in India.

Medlife International Private Limited, 1mg Technologies Private Limited, Apollo Pharmacy Pvt. Ltd, Buy Drug Pvt. Ltd., Care On Go, Bright Lifecare Pvt. Ltd. (Healthkart), Medidart Healthcare Services Pvt. Ltd., MedsonWay Solutions Pvt. Ltd., Metapharmacy.in, MyraMed, NetMeds Market Place Private Limited, mChemist are the leading players operating in India E pharmacy market. Service providers are increasingly focusing on research and development process to fuel higher growth in the market. To meet evolving customer demand with respect to better efficiency and durability, several E pharmacy service providers are coming up with their technologically advanced offerings.

“Launch of initiatives by government such as national health portal, online registration system, e-hospital, SUGAM, among others to promote the usage and awareness regarding online platforms is a major driver for E pharmacy market rise in India. Also, availing healthcare facilities online is cost-effective in nature and helps in increasing the reach even in remote areas of India. Presence of online platforms aids in ensuring price transparency, raise awareness and set alerts and reminders to take medicine on time is propeling the E pharmacy market growth until FY2027.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

13© TechSci Research

Sample Data - Snapshot

FY2017 FY2021 FY2022E FY2027F

5.00 6.00 7.00 8.00 9.00 10.00 11.00 12.00 13.00 14.00 15.00

By Value (USD Million)

India E Pharmacy Market Size, By Value (USD Million), FY2017–FY2027F

CAGR By ValueXX%

CAGR By ValueYY%

FY2017FY2018FY2019FY2020FY2021

FY2022EFY2023FFY2024FFY2025FFY2026FFY2027F

60%60%60%60%60%60%60%60%60%60%60%

40%40%40%40%40%40%40%40%40%40%40%

Prescription Drugs Over the Counter (OTC) DrugsIndia E Pharmacy Market Share, By Drug Type, By Value, FY2017–FY2027F

North India E Pharmacy Market Share, By Product Type, By Value, FY2017–FY2027F

FY2017FY2018FY2019FY2020FY2021

FY2022EFY2023FFY2024FFY2025FFY2026FFY2027F

15%15%15%15%15%15%15%15%15%15%15%

15%15%15%15%15%15%15%15%15%15%15%

15%15%15%15%15%15%15%15%15%15%15%

15%15%15%15%15%15%15%15%15%15%15%

15%15%15%15%15%15%15%15%15%15%15%

25%25%25%25%25%25%25%25%25%25%25%

Skin Care Dental Cold and Flu Vitamins Weight Loss Others

14© TechSci Research

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FY2017 –FY2027

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About Us & Disclaimer

TechSci Research is a global market research and consulting company with offices in the US, UK and India. TechSci Research provides market research reports in number of areas to organizations. The company uses innovative business models that focus on improving productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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