Online Pharmacy industry in India is expected to reach $2.7 billion by 2023

Online pharmacy is a controversial term in India. It is legalize or not, is matter of discussion and legal case is pending in High Court. On Dec.12, the Delhi high court ordered a complete ban on online pharmacies across the country with immediate effect, asking the central government to implement the order. But Soon Madras High Court had suspended the Ban. Still Online pharmacies are working and growing at rapid speed.

As trend of online purchasing are increasing, Pharma sector is also witnessing the same. Online pharmacies are growing with CAGR 18.1 percent. Online Pharmacy industry in India is expected to reach $2.7 billion by 2023 as compare to $360 million at present.

Many factors are contributing to the growth of online pharmacies. Few major reasons behind the growth of Online Pharmacies are:

Key Factors:

1. Increase in Internet user and easy accessibility of internet to smartphone users along with ease of ordering medications through online pharmacies.
2. Increase in chronic Diseases
3. Increase in per capita income and spending power
4. Discounted Medicines

Today India is adapting online purchasing habit. Online pharmacies are also getting moment in Indian E-commerce market.

Online sale of medicine is restricted to many laws and regulations. Sale of medicine in India is regulated through Drug and Cosmetic Act & Rule. Online sale of medicines also follow the rules and regulation of Drug and Cosmetic Act & Rules. But there is no special provision related to online sale of medicines. Indian Court and Government of India directed some regulations related to online sale of medicines. Along with drug and cosmetic Act, Online Sale of medicines also has to follow Information Technology Act.

Two most important licenses, you require to start Online pharmacy are:

Retail Drug License Number and GST Number.

Medicines could be sold only against valid prescription through online pharmacies. These have to maintain availability of pharmacist and customer care center.

Read in detail about: How to start Online Pharmacy in India and requirement & regulations?