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Future Of Pharmacy Essay

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Future of Pharmacy retail market in India The pharmacy retail business in India is highly un-organized and fragmented. There are approximately more than 8 lakh pharmacy stores across the country, out of which, only 3-5 percent accounts for an organized retail. Though the organized retail chemist segment comprises of a minute fraction it is the fastest growing segment which will need specialized field force with business acumen. There is a vast possibility for the growth of not only pharmacy retail market but also organized retail pharmacy share. Looking into the recent estimates, it is understood that the total retail pharmacy market will be growing at the rate of almost 15 percent and the organized part with a tremendous potential of 35 to …show more content…

There is a paradigm shift from the traditional format of the drug stores to the one stop wellness centre. This concept of wellness centre has been adopted from the west, in which the most recent advancement offers the combination of traditional medical services with integrative practices. Big organized existing pharmacy retail players are focussing on providing enhanced services to their customers, such as: Apollo pharmacy, Fortis health world, subhiksha retail, 98.4 degrees(Global healthline) guardian pharmacy(guardian life care), medplus(optival health solution), lifeken(lifetime healthcare private limited), international drug retail chain – medicine shoppe. Free home delivery of medicines, round the clock service, loyalty programs with reward points, prescription reminder services, help lines for medication related queries, free health camps, nursing services, insurance and many more. The concept of e-prescription is also evolving slowly in India but with tight regulations. As the use of e-commerce is an erupting volcano in this time and age in India, the complete use of this in association with experts in information technology can help in taking this part of the economy to a higher

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