The retail pharmacy space significantly contributes to the Indian economy by ensuring critical medicines are available to millions of citizens and increasing value through the overall health ecosystem. Increasing population size and growing awareness of healthcare are helping raise demand for pharmaceuticals. Retail pharmacies form a large part of the pharmaceutical distribution in the country and are potential high-growth areas.

The Indian retail pharmacy market is expected to grow from $18.89 billion in 2022 to $40.19 billion by 2030, registering a CAGR of 9.9%. The growth has been significantly driven by the online retail sector due to an increase in internet users and changing technological trends. Other factors that have led to this growth are an expansion of health insurance cover and chronic diseases at large and pharmacies proliferating in urban areas. With the encouragement furthered by the government towards healthcare infrastructure, this encouragement makes the sector look even more promising.

The digital transformation of retail pharmacies with e-commerce and telemedicine is also changing the face of this kind of business. Technology helps upgrade customer experience along with streamlining operations of a pharmacy itself, hence also increasing penetration into the market and efficiencies.

Apart from that, the sector creates some enormous employment opportunities by supporting the local economy as...