Why Online Pharmacy Industry Is On A Boom?

“Online” is the buzz word in India and healthcare is not an exception to it. With every single healthcare service coming online,pharma sectoris also witnessing a boom with its predominantly visible ecommerce existence. Pharmacies are going digital andonline medicine appsare mushrooming up to meet the ever-increasing needs of people. Recently, the digital healthcare has garnered the attention ofleading pharma companies in Indiaand other investors who are keen to enter the online market. There are many reasons contributing to this rise inonline pharmacy storeswhich is primarily pushed by the consumers.

• Government’s pro-active stance in regulatory compliances: The first push in the sector comes with the positive stance of the government which seems in a mood to ease the legal compliances associated with e-pharmacy stores.

• Humungous potential of Indian pharmacy market: Estimated size ofIndian pharma marketis about Rs 1.2 Lakh crore and online pharma market constitutes only Rs 700 to 800 crores of that. The growth that is plagued by regulatory hurdles is witnessing the light at the end of the tunnel with government easing the norms. This is encouraging start-ups to venture into this field. Surprisingly, India has more than 200 start-ups in online pharmacy sector including some of the established andbest online pharmacies.

• Unmatched convenience: There is no doubt about the convenience offered by online pharmacies. Compare the condition of looking for medicines from one store to another, especially when you or your loved one is sick. Thankfully, with online pharmacies, you can search for medicines across multiple stores right from the convenience of your home. Medicine delivery at your doorstep is helping a number of people, especially those with scarcity of time, old aged, bed-ridden, and others with no one to help.

• Medicines and more under one roof: Most of the online pharmacy stores offer more than medicines including health & wellness products, supplements, personal care & hygienic products, medical devices and more. While you start with prescription medicines, you can end up buying a lot many healthy things for your entire family. These added conveniences make people cling to the habit of buying medicines online pushing the growth ofonline medicine companies in India.

• Discounts push demand: The industry is on a competitive edge with a number of players operating in the ground. In such circumstances, online medicine discount encourages customers to shop online and save on their medical expenses. The online medicine portals bring offers like cashbacks, free shipping on medicines, cash-on-delivery or flat discounts which are lucrative enough to gather attention of the web onlookers who gaze opportunities to save.

The offshoot in the growth of online medicine stores is going to watch bigger heights. The expected rise the competition will definitely enhance the customer service, customer experience and other benefits to the end users to secure place in the radically evolving online pharma market.

https://economictimes.indiatimes.com/small-biz/startups/how-online-pharmacies-are-now-rushing-to-pace-up-growth/articleshow/60520292.cms