Written By: Yukta Palekar

With pharmacy franchisees providing profitable business prospects, the pharmaceutical sector in India is expanding significantly. The top franchise opportunities available today are examined in this post. Increased access to healthcare, disposable money, and population growth drive pharmacy franchise demand in India's healthcare market.. So are you all set to start an online pharmacy franchise in India?

For entrepreneurs looking to enter the pharmaceutical sector, these franchises present an appealing alternative since they provide a tested business plan, brand awareness, and franchisor assistance.

Best Pharmacy Franchise Opportunities in India

EMEDIX Pharmacy

The popular Indian online pharmacy EMEDIX Pharmacy has been operating since 2015, and it is now growing its footprint through franchising, allowing franchise stores to offer an extensive selection of medications without the need for prior expertise, as well as independent stores.

Read More: E-MEDIX Takes Bold Step with Five New Franchise Stores, Plans for 50 More.

Generic Aadhaar

To give every Indian access to inexpensive healthcare, Arjun Deshpande—the country's youngest and most accomplished entrepreneur—founded Generic Aadhaar. The best pharmaceutical business potential is generic Aadhaar, which offers high-quality drugs from trustworthy companies at up to 80% reduced prices.. The company has several locations and wants to grow to every city. Range of Investments: Rs. 2-5 Lakhs

MEDSPRES

Directors Abhigyan Borthakur and Prabal Sharma look after Medspres, an Indian healthcare franchise business. CEO Dilip Kumar Borthakur leads the company. Medspres is a company that operates in several regions of Assam and strives to offer reasonably priced, high-quality medical treatment and medication worldwide. The firm has opened an additional location in Dergaon and a new branch in Tezpur, ASSAM. With the same level of trust that the parent brand has maintained since its founding, the brand is dedicated to providing basic healthcare services and medications under one roof, 24/7. The investment range is Rs. 10 to Rs. 15 lakh.

Practo

Over 100 cities may receive a wide range of medications and healthcare supplies from Practo, a reputable online pharmacy. It was founded in 2009 and links millions of people with thousands of medical professionals throughout the globe. Practo offers an automatic prescription refill feature that lets users review and reorder their preferred medication orders. Practo has over 1,000 listed physicians from 310 locations.

Indian Health Mall 

Established in 2017, Praniti Medicine Mall is a prominent participant in the Pharma Retailing industry in Solapur, providing an extensive array of goods and services to meet the diverse needs of its clientele. The mall is one of the biggest sellers of ayurveda and other authorized medications, and it also serves the needs of homeopathic medicine sellers, chemists, ayurvedic physicians, surgical equipment sealers, 24-hour pharmacies, and dealers of weighing machines. In response to consumer demand, the firm is growing its product line and providing franchise possibilities in India. The range of investments is from Rs. 5 lakhs to Rs. 10 lakhs. The mall is dedicated to both growing its clientele and growing its revenue.

PharmaEasy

Well-known health tech firm PharmEasy provides services including online medical consultations, medication delivery, and the collection of test sample for diagnostic purposes. PharmaEasy provides more than a lakh goods and delivers them to more than 1.2k cities in India in a matter of 24 to 48 hours. The app offers payment on delivery services as well as monthly reminder scheduling.

How to Start online Pharmacy Franchise in india?

The process of establishing a pharmacy franchise involves several steps such as extensive research and identification of opportunities, determination of the required investment, finding an appropriate place for its setting up, a review of the franchise agreement, recruiting and training the employees and marketing and promotion strategies.

To this end, proper investigations should be conducted on reputable pharmacy franchises including Apollo Pharmacy, 1mg Pharmacy, Sanjivani Pharmacy and Medplus Franchise.

The investment includes store setup, inventory procurement, staff salaries and marketing.

Choosing an acceptable site requires taking into account aspects such as closeness to residential areas, accessibility, and competition, among other things.

It is important that the franchisee reads the franchising agreement carefully with lawyer or legal advice.

Staff recruitment and training should therefore be in line with hiring experience pharmacists who are licensed to practice in these places.

A marketing strategy in place using online methods as well as offline channels so that they can appeal their target market.

Finally excellent customer service which entails personal assistance by staff attending and addressing customer queries while ensuring positive shopping experience must not be overlooked.

Market size of online Pharmacy Franchise Industry:

• The Indian pharmacy online sector expects a growth of 9.41% (CAGR 2024-2028) to INR US$453.30m in 2024..
• By 2028, the market is in expectation to generate INR US$649.50 million.
• It is in anticipation that by 2028, user penetration will rise from 13.39% in 2024 to 19.16%.
• Moreover, the United States would lead the market in revenue generation, with an estimated US$18,500.00 million in revenue in 2024.
• It falls under such categories as vitamins and minerals, analgesics, digestives, cold and cough remedies, and skin care items.
• Products offered for sale in pharmacies and other retail establishments are part of this market.
• The information, which focuses on B2C revenues rather than B2B sales, includes revenue, average revenue per user, users, and user adoption rates.

Numerous factors have contributed to the expansion of the Indian online pharmacy market.

First off, there are more and more people using the internet in the nation thanks to 5G services, reasonably priced smartphones, and the country's extensive internet coverage.

To guarantee access to high-quality, reasonably priced medications and to enhance internet connectivity, the government has started programs like the Digital India Program.

Second, the pandemic has increased the number of people buying online, making it easier to get necessities and medications at home.

Furthermore, the demand for e-pharmacies to cut out intermediaries and lower the risk of counterfeit goods has increased due to the public's rising knowledge of phony medications.

Finally, the change in illness patterns that has occurred in India over the last 25 years has increased the demand for everyday medications, which e-pharmacies are selling for less money than traditional pharmacies. Finally, greater alternatives for health insurance, life insurance, retirement plans, cashless claims, and internet access to health insurance policies are all provided by the steadily expanding Indian financial sector.

Spending on healthcare has grown as a result, which is good for the internet pharmaceutical sector.

Finally, the rise in urbanization, literacy rates, and per capita income is likely to drive up demand for modern medical care domestically.

Benefit of Online pharmacy Franchise in India

Online pharmacies franchise in India provides several advantages to customers, such as enhanced information, reduced costs, more accessibility, better supply chain tracking, and consumer convenience.

Online pharmacies make it easier for consumers to order medications during the worldwide pandemic from the comfort of their homes, especially for the elderly and those who might not be able to visit a pharmacy.

Because they have less overhead and working capital, e-pharmacies also have lower prices. Online pharmacies can connect consumers to government organizations and academic institutions as well as medical resources by offering value-added information including side effects, medication reminders, and less expensive alternatives.

Additionally, every purchase made through an e-pharmacy platform is digital, which lowers the possibility of bogus drugs abuse.

Challenges Faced by the Online Pharmacy Industry:

India's online pharmacy sector has several obstacles, such as inadequate technological infrastructure, regulatory concerns, and low awareness among rural residents.

Key problems include investors' worries about the industry's lack of oversight and lawmakers' lack of a defined regulatory framework.

Even with rising rates of smartphone and internet access, e-pharmacy and its application remain relatively unknown in rural regions.

Additionally, because rural regions lack internet access and devices, there is a big divide between them and online services. Additionally, because e-pharmacies take longer to order and deliver medications during crises, they are better suited for scheduled purchases.

Therefore, the success of the e-pharmacy sector depends on the implementation of rules.

Conclusion

During the worldwide pandemic, online pharmacies have gained popularity as a cheaper, more convenient, and safe delivery alternative for medications than traditional retail pharmacies.

India's best hospitals are investing in pharmacy franchises to build their brands and provide round-the-clock care for the public.

Pharmacies in Bangalore and Delhi are among the places where brands like Apollo and Reliance are giving pharmacy franchises.

Entrepreneurs may investigate franchise options across different cities by using FranchiseBazar’s information on these franchises' costs.

Entrepreneurs can investigate the cost of these franchises and join the expanding healthcare sector by taking advantage of the growing popularity of online pharmacies.

Disclaimer: The brands mentioned in this blog are the recommendations provided by the author. FranchiseBAZAR does not claim to work with these brands / represent them / or are associated with them in any manner. Investors and prospective franchisees are to do their own due diligence before investing in any franchise business at their own risk and discretion. FranchiseBAZAR or its Directors disclaim any liability or risks arising out of any transactions that may take place due to the information provided in this blog.