E-Pharmacy refers to the presence of a pharmacy over the internet that offers medical and healthcare product to the patients directly to their homes. Here, a customer doesn’t need to leave the confines of his home, and the medicines will get delivered to their doorstep via shipping and courier services. The mobile internet revolution has further eased the process as people can order medicines from their phones. Patients can even upload their prescriptions to get prescription drugs with ease. With fantastic discounts and offers on purchase and payment, people can also save a lot of money on the deals.
The Indian E-pharmacy market has been accelerating in the E-commerce industry space in recent years. And henceforth entrepreneurs and industrialists have been taking a keen interest to take advantage of this growth of the market. There have been changes in the law and order of the online pharmacy which has further boosted investment in this sector exponentially. This is an outstanding opportunity for the pharmacy sector to take a plunge into the E-commerce division, now more than ever.
The exceptional growth of Indian E - pharmacy market is stimulated by the emerging number of cases of chronic ailments for example, Hypertension, Diabetes and Respiratory diseases. This increase in the number of chronically ill people has propelled the industry of Indian E- Pharmacy forward. Not only this, but an added advantage given by the government in terms of push towards the Digital India programme has motivated the business men and women to step into the E- pharmacy market of India. With the advent of Telemedicine it is possible to reach even the rural part of the country which roughly comprises about 60% of the population. This has tremendously changed the scenarios in this sector. Also keeping in mind of the Pandemic, it is all the more essential to digitize the pharmacy sector.
Although there have been deficits in this sector, which will need to be fixed. For instance, internet availability in certain parts of rural India is still a major issue. Further, the trust factor plays a key role. The people may fear getting false medicines or fallacious prescriptions. Even at places where there are complete internet facilities, the shortcoming of unavailability of mobile applications in people’s own regional language may pose a hurdle. Absence of data security and fear of data breach is yet another problem. Tackling these issues must be a priority for the E-pharmacy companies in order to sustain the growth.
The Indian healthcare scenario will be witnessing a positive transformation with the rise of E-pharmacy market through the year 2020 and beyond. The prospect looks bright, given the fact that it makes purchasing medicines and healthcare products quite efficient and comfortable. With the spread of COVID-19 virus in the country, the e-pharmacy sellers are the only safe option for people to get medicines delivered to their doorsteps because stepping out in such a situation is a big “NO”. More players are coming together in the market to offer seamless service to the customers, and hence the consumer base will increase further in the coming days. The pace at which the market and demand are growing, the industry is expected to flourish within a year. The market trends show a rapid upward movement, and will potentially boost the business of multiple logistics partners of such e-pharmacy companies.
It is the need of the hour for the Government, E-Pharmacy companies and Entrepreneurs to amalgamate their strategies and work towards a common goal of making the online health facility affordable, accessible and trustworthy.