India E-Pharmacy Market Overview, 2028

India E-Pharmacy Market Overview, 2028

Internet penetration in India has risen significantly in recent years. Mobile Internet has led this growth, driven by the proliferation of Internet-enabled mobile devices and 5G deployments by telecom providers. Furthermore, Digital India is a flagship program of the Indian Government with a vision to transform the country into a digitally empowered society and knowledge economy. It is a campaign launched to ensure the Government's services are made available to citizens electronically by way of improved online infrastructure and by increasing Internet connectivity or by making the country digitally empowered in the field of technology. The e-pharmacy market in India has witnessed significant funding activity and consolidation. Several e-pharmacy startups have secured substantial investments, enabling them to expand their operations and reach. Additionally, larger players have acquired smaller competitors to strengthen their market position. Furthermore, by enabling customers to order medications from the comfort of their homes, e-pharmacies provide convenience. Senior elderly, people with mobility challenges, people who live in distant places with no access to real pharmacies, and others would benefit the most from this. The appeal and convenience of e-pharmacies are enhanced by the availability of an extensive online selection of medications and healthcare items. E-pharmacy players are also looking forward to offering a wide range of complimentary services. The aim is to become a one-stop solution for all healthcare needs. Such services include online consultations, doctor appointments, and partnerships with diagnostics centres, sample collection, online health blogs, medicine refills and subscriptions. These services aim to attract and retain customers, and increase options for revenue generation. Medlife, PharmEasy and 1mg offer diagnostic laboratory tests and sample collection. Medlife and 1mg offer online doctor consultations through their websites and apps, and Medlife offers offline doctor appointments.

According to the research report ""India E-Pharmacy Market Overview, 2028,"" published by Bonafide Research, the India e-pharmacy market is expected to grow at CAGR of 21.45% from 2023 to 2028. Customers can purchase medications at lower costs because of the frequent discounts, promotions, and loyalty programmes offered by Indian e-pharmacies. With suppliers, these platforms can negotiate better pricing, which they then pass along to clients. Customers can also check costs among several e-pharmacy platforms to make sure they are getting the best bargain. Additionally, e-pharmacy systems offer comprehensive details about medications, including their purposes, dosages, possible adverse effects, and precautions. Customers can grasp the recommended dosage and make well-informed judgments about their prescription needs. This openness promotes consumer trust and guarantees that they have the knowledge necessary to effectively manage their health, both of which are fueling industry expansion. Indian e-pharmacies often have a prescription validation process to ensure the authenticity and legality of prescriptions for prescription medications. Additionally, many e-pharmacy platforms offer teleconsultation services, connecting users with qualified doctors for remote consultations and prescription issuance. Furthermore, E-pharmacies in India are expanding their operations to tier 2 and tier 3 cities, targeting a broader customer base. This focus on localization helps address the specific healthcare needs and preferences of different regions, including language support, localized marketing, and logistics infrastructure.

New e-pharmacies have to be registered with the Central Drugs Standard Control Organization (CDSCO), India's apex drug regulator and central licensing authority. g. E-pharmacies have to take only one license in any state and can sell drugs all over the country even if they have one license. The CDSCO has developed an online pharmacy portal called ""SUGAM"" (System for Uniform e-Governance of Medicines) to facilitate the online sale of drugs. The portal allows e-pharmacies to register and obtain necessary licenses to operate legally. It also provides a platform for regulators to monitor and track the sale of medicines online. The government has engaged with various stakeholders, including industry associations, pharmaceutical companies, and e-pharmacy platforms, to seek inputs and develop a regulatory framework that addresses concerns while fostering the growth of the sector. This collaborative approach aims to strike a balance between patient safety, accessibility, and innovation.

The drug type includes prescription drug and Over-the-counter drug. The prescription drug plays a key role in development of E-Pharmacy in India. Prescription drugs are often used for the treatment of chronic diseases such as diabetes, hypertension, asthma, and heart conditions. These conditions require regular medication and monitoring, making it more convenient for patients to order their prescription drugs online through e-pharmacies. E-pharmacies provide a platform for patients to easily access their prescribed medications, ensuring continuity of treatment. n India, prescription drugs are regulated more strictly than over-the-counter (OTC) medications. According to the Drugs and Cosmetics Act, certain medications can only be dispensed with a valid prescription from a licensed healthcare professional. This regulatory framework ensures patient safety and prevents misuse or abuse of medications. E-pharmacies often offer discounts and competitive pricing on prescription medications, making them an attractive option for patients. Additionally, they provide the convenience of doorstep delivery, saving patients time and effort in procuring their medicines.

Start-ups:
• PharmEasy: Founded in 2015, PharmEasy is one of the leading e-pharmacy platforms in India. It offers a wide range of prescription medications, healthcare products, and diagnostic services. PharmEasy also provides online doctor consultations and delivers medicines to customers' doorsteps.
• Medlife: Medlife, established in 2014, is another prominent e-pharmacy startup in India. It enables customers to order prescription medications, OTC products, and healthcare essentials through its online platform. Medlife also offers online doctor consultations and lab testing services.
• Netmeds: Netmeds, founded in 2010, is one of the early entrants in the Indian e-pharmacy market. It provides a comprehensive range of prescription medications, wellness products, and OTC drugs. Netmeds operates through an online platform and delivers medicines to customers across India.
• 1mg: 1mg, established in 2015, is a healthcare platform that offers online pharmacy services, lab testing, and doctor consultations. It allows users to purchase prescription drugs, OTC medications, and healthcare products. 1mg also provides health information and personalized health tips.
• mChemist: mChemist is an e-pharmacy startup that focuses on serving customers in both urban and rural areas of India. It offers prescription medicines, OTC products, and healthcare devices. mChemist also provides a subscription service for regular medication refills and doorstep delivery.

Considered in this report
• Geography: India
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report
• India E-Pharmacy market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Product Type
• Skin Care (Skin diseases & skin injuries)
• Allergy & food intolerance, Stomach, Intestines & Digestion
• Diabetes Care
• Heart care, circulation & veins, BP, cholstrol
• Orthopedic (muscles, bones, joints)
• Urology (Bladder, Kidney & Prostate)
• Animal pharmacy
• Naturopathy
• ENT (Eyes, ears, Tooth & Mouth)
• Cold flu
• vitamins & minerals
• Cosmetics
• Painkiller
• Others (gynec, Calm down, sleep & stress, sexuality, Lose weight, Diet & Lifestyle, Self-tests & everyday aids, smoking cessation)

By Delivery Type
• Prescription drug
• Over-the-counter drug

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the E-Pharmacy industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.