Amazon and Reliance to clash over highly consolidated e-pharmacy front
Category: #retail  By Saipriya Iyer  Date: 2020-08-17
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Amazon and Reliance to clash over highly consolidated e-pharmacy front

 

  • Some big names to venture into e-pharmacy sector soon
  • E-Pharmacy market to witness considerable growth in coming years
  • Amazon Pharmacy to offer prescription-based over-the-counter drugs and basic health devices

Following the recent launch of Amazon’s pharmacy and Reliance’s apparent plans to expand its pharmacy & grocery platforms through its SMART Point outlets, the e-pharmacy sector is likely to become a battle arena for the tech giants.

Sources with relevant information stated that Reliance Industries Ltd., through its biotechnology branch Reliance Life Sciences, is in the process of building pathology labs by collaborating with local entrepreneurs. Meanwhile, Amazon mentioned in a statement that its new platform will provide prescription-based over-the-counter drugs, traditional Indian herbal drugs, and other basic health devices.

According to an industry expert, several retailers are trying to enter the e-pharmacy sector following the Indian government’s efforts in promoting schemes like National Digital Health Mission and Ayushman Bharat.

Notably, e-pharmacy platforms like PharmaEasy, Medlife, and Netmeds have been working on incorporating diagnostic and telemedicine facilities on their platforms, generating additional revenues and higher margins.

However, the highly consolidated nature of the e-pharmacy sector will result in disruptions during pharmaceutical distributions since these companies directly deal with drug manufacturers instead of involving traders. In fact, this results in better cost efficacy among major firms.

Dharmil Sheth, Co-founder of PharmaEasy was reported saying that e-pharmacy sector witnesses a high frequency of purchase. He further added that it plays a vital role in user’s life cycle since medicines are an essential purchase, especially among chronic patients.

Evidently, Amazon had also partnered with US-based firm Giant Eagle Pharmacy to enable its users to purchase medicines through its AI-based virtual assistant, Alexa.

As per reliable reports, e-pharmacies market was valued at USD 9.3 billion in 2019 and is estimated to reach USD 18.1 billion by the year 2023, with 18.1% of annual growth rate.
 

Source- https://www.livemint.com/companies/news/amazon-reliance-set-to-clash-on-e-pharmacies-11597628125442.html



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Saipriya Iyer

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Saipriya Iyer

Saipriya Iyer develops content for Market Size Forecasters, Algosonline, and myriad other platforms. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her bel...

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