Davaindia Accelerates Growth in Alignment with India’s Soaring Retail Pharmacy Market
New Delhi, 29th November 2023: Davaindia, a leader in the retail pharmacy industry, is poised to contribute significantly to the burgeoning Indian retail pharmacy market, projected to reach $40.19 billion by 2030 with a robust CAGR of 9.9% from 2022. As a key player in this dynamic landscape, Davaindia is strategically expanding its operations, especially in East India, as it plans to open 400 additional stores in East India via Project Sanjeevani – a specialized franchise model tailor-made, by the next fiscal year and contribute to economic development by creating employment opportunities for approximately 5,500+ individuals. Currently, there are 140+ stores in the East India.
The retail pharmacy landscape is witnessing the convergence of online and offline channels, Davaindia is also embracing this trend by adopting an Omni Channel to provide customers with a seamless shopping experience. Davaindia is endeavouring to transform retail pharmacy spaces into experiential centers, incorporating pharmacies, play areas, and petrol pumps. This initiative aims to redefine the conventional retail experience, aligning seamlessly with evolving consumer expectations. Davaindia is also actively exploring innovative formats of clinic-based pharmacies (CBP), providing customers with access to labs, diagnostics, doctors, and medicines all under one roof.
The post-COVID era has seen a surge in demand for wellness products, with generic medicines driving growth in the pharma retail sector. Over 95% of the products being retailed at Davaindia stores as private label products. Davaindia has already started providing unique products in niche segments, including ayurvedic medicines, Cow based premium products, medicinal devices, and other lifestyle categories in the near future. This diversification aligns with evolving consumer preferences and positions Davaindia as a comprehensive healthcare solution provider. Dava India is also doing a plethora of activities via #Change to make menstrual hygiene affordable to women with the help of literature, on-ground events & also giving out sanitary pads to underprivileged sections.
“As we embark on this transformative journey, we are not just expanding our footprint; we are redefining the very essence of healthcare retail. At Davaindia, our commitment goes beyond providing medicines – we are creating experiential centers of well-being, embracing innovation, and fostering a sense of community. Our vision is to be more than a pharmacy; we aim to be a trusted partner in the health and happiness of every individual we serve.” Said, Dr. Sujit Paul, Group CEO – Zota Healthcare Ltd.
With evolving demographic and economic dynamics, Davaindia consciously balances its distribution of retail pharmacies, with a pronounced emphasis on tier 2 and tier 3 cities rather than metros.
