Kenneth Research has examined the statistical and analytical approach that is required for the growth of Pharmacy Retail Market for the period 2022 and 2031. The key industrial insights provided in the report gives a better idea about the market overview to the readers regarding the existing scenario in the market. In addition, the report includes detailed discussion on current and future market trends that are associated with the growth of the market.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Pharmacy Retail Market Products.
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According to the statistics by the World Bank, current health expenditure around the world increased from 9.391 % of GDP in the year 2011 to 9.896 % of GDP in the year 2017. Moreover, the statistics also stated that Tuvalu, a nation in Oceania region, had the highest expenditure of 17.143 % of GDP in the year 2017, followed by the United States, with 17.061 % of GDP.
Netscribes’ latest market research report titled Pharmacy Retail Market in India 2017 throws light on the distinctly fragmented nature of the market, with only 6% of the market currently falling in the organized segment. The market is expected to reach a value of INR 2.9 bn by 2022. Presently dominated by the unorganized segment, the market is expected to shift towards an organized nature with more and more consumers preferring to buy medicines online and from pharmacy retail chains. Organized retail pharmacies provide various value added services such as selling medicines in air-conditioned surroundings, 24×7 operations, home delivery, options to pay online or through debit and credit cards, insurance cover and nurse station. Most organized players operate regionally. In order to retain existing customers and attract new customers, most organized players provide loyalty schemes in the form of rewards points, gifts and free health insurance.
The varied disease profile existing in the country and the emergence of newer diseases is helping the pharmacy retail market in India to grow considerably. Moreover, the demographic structure of the country, with a large population of people aged above 60 years, is resulting in a higher need for medicines. This in turn is helping the country’s pharmacies to experience strong demand for the products it retails. However, the pharmacy sector in India tends to suffer from the circulation of sub-standard and counterfeit drugs which hampers the retail segment of the business. The government too is undertaking efforts to provide medicines at subsidized rates as well as provide tele-consultation services and distribute medicines in rural areas. This can have a negative effect on the sector’s growth. Despite this, pharmacy retail segment comprises a stable market at present and has strong growth potential in the upcoming years.
Coverage:
Overview of pharmacy retail market in India and forecasted market size data over 2014 to 2022e
Qualitative analysis of market drivers, challenges impacting the Indian pharmacy retail market
Key trends observed in the market
Analysis of the competitive landscape and detailed profiles of major players
Key recent developments in the Indian pharmacy retail market
Why Buy?
Get a clear understanding of the pharmacy retail market in India and how it operates
Understand the current market segmentation and future growth potential of the pharmacy retail market in India and plan strategies to gain from it
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Understand your competitors’ business structures, strategies and prospects, and respond accordingly
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The Market report answers the following questions:
What is the aim of the report?
- The Pharmacy Retail Market report presents the estimated market size of Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Players
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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