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Indian e-pharma to reach $2.7 bn by 2023

India’s e-pharma market is projected to reach a size of US$ 2.7 billion by 2023 from US$ 360 million currently, according to a report by consulting firm E&Y. According to the report, factors like rising internet and smartphone penetration, ease of ordering medicines online, rise in per capita incomes and chronic diseases are driving the growth of the industry. E-pharmacies are expected to explore around 85% of the chronic medicine market and 40% of the acute medicine market.

The growing industry is expected to provide a host of B2B opportunities going forward including e-commerce, consumer tech, fintech and hyperlocal.