DEFINITION Retail community pharmacy refers to an independent pharmacy, a supermarket pharmacy, a chain pharmacy or a mass merchandiser pharmacy having a state license to dispense medications to the general public at retail prices as a pharmacy. INTRODUCTION 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 OVERVIEW OF RETAIL PHARMACY IN THE WORLD The global Pharmacy Retail market is projected to display a robust growth represented by a CAGR of 4.94% during 2018-2023. The North American pharmacy retail market is the largest in the world. The pharmaceutical retail market in Asia-Pacific is the second-largest in the world. HISTORY OF RETAIL PHARMACY 2,000 to 1,500 BC – Pharmacy is a recognized part of medical practice dating as far back as Sumerian
INDIA... In PharmaWorld.... The Indian pharmaceutical industry has contributed immensely not just to Indian but to global healthcare outcomes. India continues to play a significant role in manufacturing various important, high‐quality and cost-efficient medicines for Indian and global markets. INDIA’S PRESENCE IN THE GLOBAL MARKET India supplies over 50% of worldwide demand for many vaccines, 40% of generic drugs consumed in the US and 25% of all the medicines distributed in the UK. India caters to 60% of global anti‐retroviral (ARV) drugs and 30% of the annual UNICEF requirement. Affordable ARV drugs from India were a major factor in AIDS patients getting greater access to treatment. Many Indian companies are co-partnering with foreign voluntary organizations for making drugs available to lesser developed countries like Mozambique, Rwanda, South Africa and Tanzania which have about 33% of all people living with AIDS in Africa. OVERVIEW OF THE PHARMACEUTICALS