Outlook to 2020- Infusion of Online Marketplaces and Healthcare Awareness to Shape Future Growth” provides a comprehensive analysis of the healthcare products market through online means. The report covers various aspects such as market size of online healthcare products, segmentation on the basis of product types as well as by demand from major cities. The report also provides overview upon the consumer profiles, on the basis of gender, age split, mode of payment and mode of source used. In addition, the information also provides overview on major companies with their comprehensive company profiles, market share as well as business models prevalent in this market. The future for this industry has also been presented with analyst recommendations as well as the Macro factors which have a correlation with the Industry. The report also shed light and provides a detailed snapshot on India online pharmacy market.
There are certain trends in the industry which has led to the emergence of Online Healthcare Products Market in India. For years, the local pharmacies and nearby healthcare product shops have been supplying the products to the local customers, and have attained higher degree of trust and bond with them. The customers treat these shops as their family pharmacies, and sought to pay whatever price is asked. This trend was initially changed among the customers with the emergence of pharmacy retail chains like MedPlus, Apollo Pharmacies and Global Healthline, where customers can find wide range of products under a single roof with a less price range and high discounts.
The total revenue generated by the online sales of Healthcare products in India was INR 5,075.9 million in FY’2015 which has increased from INR 771.0 million in FY’2012 at a CAGR of 87.4 during the period FY’2012-FY’2015. The Online healthcare products market has showcased a remarkable growth during the span of last five years on the grounds of expansion in product range as well as surge in online market places. In line with the Industry revenues, the average order size has also widely enhanced which has been registered at INR 1,762.0 during FY’2015.
India’s online healthcare products market is at a very nascent stage and is growing year on year as people have switched their preferences towards shopping online. The major players are in a race to increase their share in the industry by implementing various marketing initiatives, technology advancements, switching to different business models and others. Healthkart is the leading player in the industry which has commanded a promising market share of worth ~% during FY’2015 in terms of GMV.
The industry is likely to be driven by surge in internet penetration, rising personal disposable income, lower prices relative to brick and mortar stores, stupendous growth of Indian online retail market and a large number of online players entering the online healthcare product segment. The Indian Online Healthcare Product Industry is projected to grow rapidly in the future and form a major part of the Indian E-commerce industry by FY’2020. With new companies coming up in the segment, the product range offered by the companies will going to increase customers will have different product options.