Project report for pharmaceutical shop
Project report for medical shop unit is as follows:
Two decades back, the average consumer spending on healthcare was eight per cent; today it is 20 per cent. The customer has also become aware of various offerings in the pharma market, and is demanding better services.The mercury has reached a new high where the Indian consumer's priority for healthcare is concerned today. His spending on healthcare is comparatively higher than what he spends on apparels or entertainment.Pharmacy retailing is expected to become more organised and corporatised in the coming years.Indian Retail Pharmacy industry is widely fragmented throughout the country. The total Indian retail pharmacy market has been growing at an average of 18% per annum over the last few years, and is anticipated to grow by even higher numbers in the future.
Market potential & Strategy
The total size of the global health and beauty market is between US$ 18 to 20 billion (approximately Rs 900 billion), which includes over 7.5 lakh chemist shops. The market is growing by approximately 18 per cent per annum.Statistics reveal that pharmacy retailing in India has a market size of over Rs 32,000 crore. The increasingly health-conscious Indian today has numerous retail pharmacies jostling for his attention (and money). These pharmacies offer a great choice to the consumer.With pharmacy retailing becoming more and more organised, and a large number of retail formats coming up, the consumer has a greater choice with respect to quality, price and variety.