Online medicine home delivery marketplaces have been under a lot of pressure, from brick & mortar pharmacies. They have also been under attack for luring customers with discounts and offers.
1mg was launched as a store for AYUSH products, but has now evolved into a comprehensive multi-vendor online pharmacy platform. Its key features include a large catalogue, free deliveries and e-consultations.
1. Medsexporter
Online pharmacies are gaining popularity across the country for their convenience and efficiency. They offer services like e-consultation with doctors, a wide variety of medicines, and doorstep delivery within a short period of time. These advantages make them more attractive to customers than offline chemists. However, due to lack of a rigid legal framework, they face several problems that hamper their growth.
For instance, the New Drugs, Medical Devices and Cosmetics Bill is expected to introduce stringent norms for the industry. This will likely cause more investors to invest in the sector, which will help it grow further. However, it is important to note that the sector’s development depends on the government’s action plan and implementation.
Founded in 2014, Medsexporter.com is an online platform that provides pharmacy, diagnostics and e-consultation services. It operates in 29 states and has a central laboratory located in Bangalore. It also offers a mobile app that allows users to place orders on the go. In 2021, the company was acquired by Pharmacy and merged its operations into the latter’s platform.
The online pharmaceutical industry is growing rapidly because of the increase in internet penetration, which makes it easier for people to purchase medicine. In addition, many companies provide discounts on certain drugs, which can attract customers. However, some of these discounts are misleading and can lead to a loss in customer loyalty.
Nevertheless, there are some companies that offer genuine medicines at reasonable prices. Hence, it is vital to choose an online pharmacy that sells only quality medicines. The best way to do so is by reading reviews from previous customers. Also, you should check if the pharmacy is registered with the state pharmacy association.
2. specialitymedz
specialitymedz is a consumer healthcare ‘super app’ that provides consumers on-demand, home-delivered access to a wide range of prescription and OTC pharmaceuticals, other health care products, comprehensive diagnostic test services, and teleconsultations. It also offers a host of wellness and beauty products, which help customers, meet their daily healthcare needs.
The business model of specialitymedz is very similar to other online pharmacy aggregators, such as 1mg. It connects users with local pharmacies and diagnostic centres, providing them with a convenient way to shop for medicines and healthcare products. The company’s catalogue includes a variety of different brands and products, so it’s easy to find something that fits your needs.
The platform also makes it easy to compare prices, which helps you save money on your healthcare costs. In addition, the company offers a variety of payment structures, including cash on delivery and credit cards. You can also use the website to track your order and receive updates about its status.
specialitymedz also has an extensive network of pathology laboratories, which allows you to get your test results quickly. This service is available in all major cities and towns, making it convenient for people to receive their test results.
PharmEasy also provides a number of other benefits for its customers, such as free delivery and returns. The company’s website is easy to navigate, and its customer service representatives are helpful and knowledgeable. The website also features a blog with tips and advice about healthy living, which can be beneficial for people who are trying to live healthier lifestyles. The company’s products are high-quality and affordable, and they offer a variety of discounts and special offers.
3. 1mg
The online pharmacy market is growing in India, as consumers demand convenience and accessibility to healthcare services. Customers can order medications and healthcare products at their convenience from the comfort of their homes, which saves them time and effort. These services also allow them to consult with doctors and pharmacists, which can help them make the right decisions regarding their health. The online pharmacy industry can be a lucrative opportunity for entrepreneurs, as it offers many benefits and features to its customers.
1mg was among the first to enter this space, and its business model is based on offering healthcare services at an affordable cost. Its users can use the app to order medicines, book lab tests, and consult with doctors. The company’s revenue streams come from its user base, commission fees from pharmacies and labs, and advertising. In addition, the company has a robust customer service team that is available to answer any questions.
However, there are challenges to operating an online pharmacy in India, including a lack of clear regulations. The government recently issued show-cause notices to 20 e-pharmacies, including 1mg, Amazon, Flipkart, NetMeds, MediBuddy, Practo, and Apollo, over allegations that they were selling drugs without licenses. The issue may become even more complicated as the government prepares to replace existing drug laws with new rules.
Despite these challenges, the online pharmacy industry has grown significantly in recent years, and there is still room for growth. Moreover, a slew of startups have entered the space to provide a variety of healthcare services. However, making a successful play in this space requires deep pockets and a long-term commitment. With proper planning, an entrepreneur can launch a profitable online pharmacy and benefit from the increasing demand for medical services.
4. NetMeds
Netmeds is a popular online pharmacy in India that offers an extensive selection of prescription and over-the-counter medicines, healthcare products, and wellness items. The company also provides virtual consultations and diagnostic services to its customers. Its website is easy to navigate and features a secure checkout process. In addition, it offers free shipping on all orders. Its large inventory of medicine and healthcare products makes it a top choice for Indian consumers.
Netmeds was founded in 2010 by Pradeep Dadha, who had a family legacy in the pharmaceutical industry. He wanted to leverage the internet to expand his family business. His vision was to make medical care accessible and affordable to the masses. This is why he created Netmeds, which is a trusted and reliable online pharmacy that offers a variety of healthcare products.
In order to purchase medicine from Netmeds, you need to have a valid doctor’s prescription. The company screens the prescriptions that are uploaded by customers online to ensure that they are legitimate. This is a great way to keep out frauds and maintain the safety of its customers.
Besides medicines, Netmeds also sells wellness and fitness products, including health supplements and diet and fitness aids. It also offers a wide selection of personal care products, such as toothpaste and mouthwash. It also offers a number of other healthcare products, such as thermometers and blood pressure monitors.
The boom in the online pharmacy sector has been a huge benefit for many patients, especially those with chronic ailments. But the industry has also faced resistance from traditional brick-and-mortar pharmacies, who argue that e-drug stores are illegal because they do not require a medical prescription for the sale of certain medications.
5. MediBuddy
Online pharmacy marketplaces are a great way for customers to find and purchase medicines from multiple vendors. Many companies also offer additional services like doctor consultations and laboratory tests. These platforms can help customers save time and money by eliminating the need to visit a physical store. Moreover, they can provide a more accurate diagnosis and recommend the best treatment options. Despite the popularity of these services, not all online pharmacies are equal.
MediBuddy is an online wellness marketplace that was founded in 2014 and offers a wide range of health products and services. The company provides free doctor consultations, home delivery of medicine, and medical test bookings. Its platform is available in more than 10 languages and has a huge network of healthcare professionals. It is also possible to order non-prescription items through MediBuddy, including supplements, face masks, and hand sanitizers. The company is based in Gurgaon, India.
The company offers a variety of benefits to its employees, including health insurance, paid leaves, and flexible work hours. Its culture is also a big draw for potential candidates. In fact, the company is rated 3.9 out of 5 by employees on Ambition Box, making it a top choice for job seekers. However, the company could do better in terms of career growth and salary.
The e-pharmacy industry in India is growing rapidly. It is expected to reach $10 billion by 2022, and this figure is only expected to grow further with the increasing popularity of tele-medicine and the use of smartphones. Additionally, the rising population and the availability of cheap medical supplies is contributing to the growth of the industry. In addition, the ease of ordering and access to a wide range of medicine makes it an attractive business opportunity for enterprise healthcare brands.
