Life Line Pharmacy is a drug store in Safdarjung Enclave, South Delhi. It deals in medicines, cancer drugs and surgical items. It is a retail pharmacy store.
Pharmacy is the health profession that links the health sciences with the chemical sciences and it is charged with ensuring the safe and effective use of pharmaceutical drugs.
The scope of pharmacy practice includes more traditional roles such as compounding and dispensing medications, and it also includes more modern services related to health care, including clinical services, reviewing medications for safety and efficacy, and providing drug information. Pharmacists, therefore, are the experts on drug therapy and are the primary health professionals who optimize medication use to provide patients with positive health outcomes.
An establishment in which pharmacy (in the first sense) is practiced is called a pharmacy, chemist's or drugstore.
For Indian pharmacy retail market, the last few years were packed with several significant developments. The most prominent among these is the advent of retail chain pharmacies.
There are many factors contributing to the boom in this segment including increase in health care spending, change in consumer attitude, etc. Pharmacy retail market in India is one of the most unorganised and has the highest profit margins. It is a considerably big market and has tremendous scope to grow further. This has attracted many organised players in pharmacy retailing.
These new players include not just those with pharmaceutical or healthcare background, but also corporates from other sectors. Corporate tycoons like Reliance Industries and Aditya Birla Group have already forayed into pharmacy retail market. Even the central and state governments ventured into this segment with Jan Aushadi outlets and Karunya pharmacy etc. Moreover, government has paved the way for global medicine retail chains into the country by opening up multi-brand retail sector to FDI.
there are approximately 8,00,000 pharmacies in India today with about 60,000 distributors. Out of these 20 to 30 per cent is from all the organised retail companies and rest is dominated by traditional/local pharmacists. There are plenty of opportunities for the organised players to grow in Indian retail pharmacy market.
The organised retail pharmacies provide better consumer experience compared to the Mom and Pop retail medicine stores. They are bringing in international best practices into their operations by offering value added services like availing medicines in air-conditioned surroundings, 24x7 operations, door delivery, credit-card acceptance, insurance cover etc.Retail chain pharmacy is considered as a sunrise industry in India. It is still in its nascent stage and has tremendous scope to grow in the future. At present in India, there are approximately 25 chains with total outlets aggregating to 2,000.
Source: Wikipedia and http://www.pharmabioworld.com/
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