Pharma Retail in India is fast changing due to the entry of organized players. The sector that is growing at 27% annually might go through a sea change by eliminating issues like spurious drugs, sub-optimal storage and expired drugs. This change has also been brought about by a change in customer attitudes and spending on healthcare.

Big retail chains are making investments for the long run in this highly lucrative and high margin sector, promising better ambience, quality, service and prices. The recent entrants are trying new and innovative formats to woo the customer away from the local medical shop.

The report details plans of the big players in the market, consolidation being an important elment. Pharmacies are also moving towards offering a wider range of holistic services to serve a more demanding clientele. They are tying up with hospitals and diagnostic centres to offer value added services to their patrons. In turn, hospitals and diagnostic centres are planning retail forays too. Educating the customer is going to be another area that the industry will focus on.

Given this scenario, the future landscape is likely to see a well-planned network of healthcare community, where the customer is connected to all aspects and service providers in healthcare seamlessly.

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