Many businesses covering a variety of industries thrive in India’s vibrant business centres. Medical stores play a significant part in the pharmaceutical industry, which is an essential sector in India’s business landscape. These businesses and the real estate industry work in harmony with one another. The need for well-chosen real estate is influenced by the rise in the necessity for easily accessible medical shops as businesses prosper. This article explores this complex link and shows how corporate growth significantly affects the city’s real estate market. This article will provide information on various medical stores in India.
See also: Top medical scribe companies in India
Business landscape in India
The business environment in India is a fascinating patchwork, overflowing with a wide range of businesses and sectors. Traditional industries, such as agriculture and textiles, exist alongside modern technology-driven businesses, revealing an amalgamation of tradition and innovation. SMEs form an integral part of the economy; they contribute immensely to job creation, thereby driving the economy as a whole. Similarly, more startup companies have emerged in India, with the majority focusing on technology, health care and e-commerce.
List of top medical store names in India
Apollo Pharmacy
Company type– Public limited
Location– Chennai, Tamil Nadu- 600028
Founded in– 1985
With over 5,000 locations nationwide, Apollo Drugstore is one of India’s biggest drugstore companies. It is a division of Asia’s top healthcare organisation, Apollo Hospitals Group. Apollo Pharmacy stocks various products, including prescription and OTC medicines, health and wellness goods, personal care items, cosmetic products, etc. Also, it offers various medical services, including cholesterol, diabetes and blood pressure monitoring.
Netmeds
Company type– Private
Location– North Ghonda, Delhi, Delhi – 110053
Founded in– 2010
An Indian online pharmacy called Netmeds offers many pharmaceuticals, medical supplies, and personal care items. One of the top online pharmacies in India is Netmeds, which is well-known in more than 670 cities around the nation.
Pharmeasy
Company type– Private
Location– Ghatkopar East, Mumbai, Maharashtra 400077
Founded in– 2015
India’s e-pharmacy or online pharmacy, PharmEasy, provides many healthcare products, such as prescription drugs, over-the-counter medicines and personal healthcare products. Secondly, the organisation offers various services, such as diagnostic imaging, laboratory tests and Internet medical consultation.
Medplus Mart
Company type– Public
Location– Kukatpally, Hyderabad – 500037, Telangana, India
Founded in– 2006
In India, there is a network of pharmacies called Medplus Mart. It has over 2,500 outlets across 13 states, making it the second-largest pharmacy retail network in India by sales. Along with various pharmaceutical items, Medplus Mart sells home improvement and personal care items.
Drugs.com
Company type– Private Company
Location– Andheri East, Mumbai – 400 069
Founded in– 2001
Drugs.com is a website and mobile application that offers details about prescription and nonprescription drugs, medical equipment and dietary supplements. The site and app also provide a pill finder, dose calculator and medicine interaction checker. Patients, doctors and other healthcare professionals frequently use drugs.com for information.
MediDart
Company type– Private Company
Location– BEML NAGAR, KGF Kolar KA IN 563115
Founded in– 2014
Many healthcare organisations, including hospitals, clinics, diagnostic facilities and pharmacies, employ MediDart’s solutions. The company’s products assist healthcare professionals in increasing productivity, cutting expenses and giving patients better care.
1mgAyush
Company type– Private
Location– Koramangala 6th Block-560095
Founded in– 2012
An Indian internet pharmacy called 1mgAyush provides herbal and ayurvedic goods. It is a division of 1mg Technologies, one of the top Indian online pharmacies. Supplements, medications, and cosmetics are just a few of the numerous Ayurvedic and herbal goods that 1mgAyush offers.
BuyDrug
Company type– Private
Location– Chhatarpur, New Delhi, Delhi 110074
Founded in– 2013
BuyDrug is dedicated to offering its clients premium goods and services at reasonable costs. The business provides several practical benefits, including online ordering, delivery to your house and cash on delivery. Additionally, BuyDrug provides a loyalty programme that incentivizes customers to purchase.
Zigy
Company type– Public Company
Location– Stage Kodihalli Bangalore 560008
Founded in– 2015
A wide variety of generic and proprietary pharmaceutical formulations, including antibiotics, analgesics, anti-inflammatory medications, anti-asthmatics, and cardiovascular pharmaceuticals, are produced and exported by this industry leader. It ships to more than 50 nations worldwide. Zigy Pharmaceuticals is dedicated to offering people worldwide high-quality, inexpensive medications.
mChemist
Company type– Public
Location– Lajpat Nagar, New Delhi, Delhi 110024
Founded in– 2014
India’s top online pharmacy is called mChemist. The business provides a comprehensive selection of pharmaceutical goods, such as over-the-counter medicines, prescription meds and health and wellness items. Additional services offered by mChemist include free home delivery, online medical consultations and lab testing.
Medlife
Company type– Public
Location– Bangalore, Karnataka, 560027
Founded in– 2014
A comprehensive range of medical and pharmaceutical services are offered by the Indian online healthcare portal Medlife. Through their website or mobile app, clients may conveniently order a wide range of medications, healthcare supplies, and lab tests. In addition to facilitating medical consultations, Medlife increases accessibility to healthcare. Ensuring convenience and safety, they give priority to delivering prescriptions right to consumers’ doorsteps.
Earth Aura pharmacy
Company type– Public
Location– Ahmedabad, Gujarat – 380005
Founded in– 1996
Providing natural and holistic solutions is the main focus of Earth Aura Pharmacy, a health and wellness brand. Herbal supplements, organic cures and wellness tools are usually among their offerings. Complementing a comprehensive approach to treatment, Earth Aura Pharmacy places a strong emphasis on eco-friendly and sustainable techniques. It caters to people looking for natural and environmentally friendly substitutes for conventional pharmaceutical products, with the goal of enhancing well-being while eliminating negative environmental effects.
Commercial real estate demand in India
Office space- Ample office space is needed for pharmaceutical businesses, especially those with a developing market presence. This includes the corporate office, research labs, distribution hubs and regional offices. These areas are essential for managing the supply chain, conducting study and development, and conducting administrative activities.
Rental property- Property needs to rent for drugstores are significant. To ensure client accessibility, entrepreneurs and enterprises in the pharmaceutical retail industry look for leasing sites close to hospitals or in populated regions. For startups or developing businesses wishing to establish a presence with the initial significant cost of acquiring property, rental buildings offer flexibility and are frequently a viable alternative.
The pharmaceutical industry’s growing demand for commercial real estate in India has several significant effects. First, it promotes the building and real estate industries, supporting economic expansion. Additionally, it encourages employment growth in allied businesses like property management and development.
Impact of Medical Stores on India
Medical stores, often known as pharmacies or chemist shops, are essential components of India’s healthcare ecosystem and significantly influence the country’s population and healthcare system. Medical supply stores guarantee that crucial medications are available, acting as a lifeline for people in need of emergency medical assistance. They fill the gap between patients’ needs and physicians’ orders, particularly in rural and distant places. Medical supply stores help provide access to healthcare to even the most remote areas of a large and varied nation like India.
FAQs
Which Indian pharmacy is the largest?
The first and largest omnichannel branded pharmaceutical retail network in India is Apollo Pharmaceutical.
Which pharmacy in India ranks as the second-largest?
By operating more than 3,000 pharmacies in 374 cities, MedPlus is the second-largest pharmacy chain in India as of 2022. Health Services MedPlus Ltd. MedPlus offers prescription and over-the-counter medications, FMCG goods, nutritional supplements, opticals, and vitamins.
What function do medical supply stores play in the healthcare system in India?
Medical shops play a significant role in India as an essential conduit between medical experts and patients. They provide the general population with access to the availability of necessary resources for healthcare through their extensive selection of medications, health goods, and other items.
Are there special rules limiting how medical stores operate in India?
Indeed, the drug laws enacted in India were the Drugs and Cosmetics Act of 1940 and the Pharmacy Act of 1948, governing medical stores' activity. These laws enforce legal rules for the granting of licences, storing, selling, and movement of drugs, which would be crucial in ensuring that medicines are of the desired quality, safe, and practical to use.
Are there any policies aimed at promoting the sale of generic drugs to pharmacists?
The Indian government has made steps to encourage the use of generic medications by promoting their sale and prescription. The Pradhan Mantri Bhartiya Janaushadhi Pariyojana (PMBJP), often known as Jan Aushadhi shops, are unique retail locations that provide excellent generic medications at competitive costs to increase their accessibility.
What role do medical supply stores play in the promotion of public health?
Pharmacists and employees have the chance to inform customers on how to take pharmaceuticals safely, possible side effects, and overall wellness knowledge in medical stores. This supports the advancement of public health literacy and the promotion of safe pharmaceutical use.
How do medical supply stores help with urgent medical needs?
Medical stores play a crucial role during catastrophes by offering essential medications, first aid supplies, and advice on important rapid medical activities. Before getting to a medical institution, they assist in addressing unforeseen health crises or accidents.
What typical issues do medical supply stores in India encounter?
Medical shops encounter challenges to ensure a steady supply of medications, regulating storage conditions to ensure drug efficacy, ensuring regulatory compliance, contending with competition from internet pharmacies, and educating clients on safe prescription usage.
Can Indian pharmacies refuse to supply specific medications, and if so, under what conditions?
Yes, medical stores have the right to deny sales of certain medications in certain situations, such as when the drug has a valid prescription, is out of stock, or the chemist believes the patient shouldn't take it, given their health or medical history.
Are there programmes in India that support the digitisation and upgrading of medical stores?
It's true that several programmes encourage the digitisation of medical retailers, promoting technology for improved inventory control, sales monitoring, and clientele.
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