E-commerce company Amazon India has initiated internet Amazon Pharmacy, denoting its entrance into the country’s online medicine market that has noteworthy picked up momentum during the Coronavirus (COVID-19) led lockdown and considerably after unlocking.
It has propelled the online pharmacy service in Bengaluru to start with and may direct pilots in different urban areas excessively going ahead.
The lockdown and social distancing have incited clients to move to the online consultation, treatment, medical tests, and medicine delivery. Healthcare startups 1mg, Practo, NetMeds, PharmEasy, and Medlife are seeing a gigantic surge in demand and a stream in financing activities, like edtech platforms, which outperformed every other division among new companies.
“As a part of our commitment to fulfilling the needs of customers, we are launching Amazon Pharmacy in Bengaluru allowing customers to order prescription-based medication in addition to over-the-counter medicines, basic health devices, and Ayurveda medication from certified sellers. This is particularly relevant in present times as it will help customers meet their essential needs while staying safe at home,” an Amazon spokesperson said.
As indicated by RedSeer Consulting, India’s digital health market will extend to $4.5 billion in this monetary year, contrasted and $1.2 billion in FY20. The consultancy has increased its scale of the digital health market to $25 billion in FY25, contrasted, and its pre-covid scale of $19 billion. Medicine delivery will keep on containing a vastly larger part of the market, as indicated by RedSeer.
Greater healthcare firms like 1mg, Practo, PharmEasy, Medlife, Netmedsas well as smaller startups like BeatO and mfine are enlisting expanding client interest and demand post covid, as individuals spend on boosting their immunity, treat ailments through online consultations and purchase meds online.
Teleconsultations at Bengaluru-dependent on-demand healthcare service Mfine have grown 3-4 times as of late. E-health platform Practo Technologies too enrolled a 600% development in online consultations since the lockdown began in March, with 70% of all clients being first-time telemedicine clients and 45% from smaller urban areas.
A few nations are attempting to move healthcare delivery on to the internet, boost telemedicine, support online medicine bookings, and use chatbots to answer patient inquiries.