The Indian online pharmacy market is expected to exhibit a rapid CAGR of 20.1% during the forecast period (2020-2026). Due to the increasing internet user base and favorable market conditions, India has a great deal of potential in the online pharmacy sector. Further, growing at an unprecedented pace, the market size of the e-commerce sector in India amounted to approximately $50 billion in 2018, which is expected to cross $200 billion by 2027. Moreover, competition in the e-commerce business in India is fierce, as the market is packed with many local and foreign companies trying to hold the maximum market share. Thus, the rising growth in the e-commerce market is due to a variety of factors, such as digitizing the economy and supplying people with affordable internet services. E-commerce revenues across India were expected to grow by 25% in 2018. The total retail e-commerce revenue earned per customer in India in 2018 was more than $50 and is expected to reach $75 by 2024.
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With high growth in internet and electronic connectivity, the e-commerce industry in India has undergone a similar lift. Increased Internet penetration, along with a growing share of the regulated business in retail markets, provided a solid base that e-commerce requires. The government's policies have further boosted the economy. It includes 100% of foreign direct investment in B2B e-commerce. Also, 2019 Frameworks foresee Foreign Direct Investment (FDI) for e-commerce in the business paradigm to maintain a fair playing field for companies.
Market Coverage
Key questions addressed by the report
o Recovery Timeline
o Deviation from the pre-COVID forecast
o Most affected region/segment
Indian Online Pharmacy Market Report Segment
By Medicine Type
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