Deep-Dive Into Indian Pharmacy Sector From Medplus IPO Prospectus: ICICI Securities
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ICICI Securities Report
The key insights for the Indian pharmacy sector from our analysis of Medplus Healthcare Services Ltd. prospectus are-
Indian retail pharmacy is expected to grow at 10% compound annual growth rate over FY20-FY25E with share of organised players increasing from 10% to 20% over this period, implying CAGR of ~25% for organised market,
modern pharmacy and hospitals make higher margin of 20-25% in supply chain process,
focus on offering over-the-counter and private label fast moving consumer goods type products to improve scale and profitability, and
emergence of omni-channel (offline plus online) presence in organised retail pharmacy.
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