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Entero & Medplus: Reshaping India's Medicine Market
25 Aug
Summary
- India's pharmacy market is valued at $24-27 billion and growing.
- Entero Healthcare focuses on distribution and demand generation.
- Medplus Health expands its pharmacy network and private labels.
India's traditional neighborhood pharmacy model is evolving into an organized retail and digital distribution network. The nation's pharmacy market, valued between US$24-27 billion, is expanding at approximately 10% annually, driven by increased healthcare spending and awareness.
Entero Healthcare Solutions, a leading distributor, reported 38.2% revenue growth in Q1FY27. It leverages core distribution and integrated commercial solutions, serving over 72,000 pharmacies. Entero is pivoting towards higher-margin MedTech products and demand generation over pure fulfillment.
Medplus Health Services, India's second-largest pharmacy retailer, operates 5,476 stores and aims for nationwide expansion. The company is focusing on private labels, which constitute 20% of its revenue, and is scaling its diagnostics business. Medplus plans to add 800 net stores in FY27, split between company-owned and franchise models.
While Entero shows faster revenue growth and higher margins, Medplus leads in return ratios and valuation. Both companies are navigating the dynamic Indian pharmaceutical sector, with their success hinges on translating expansion into improved profitability and cash flow.
