Amazon India is an e-commerce firm that has gained empowered roots on an overseas platform and now the successful firm has grown another strand of root to hold the ground more powerfully. The famous e-commerce firm has rolled out Amazon Pharmacy, foraying into the online medicine segment that has significantly achieved momentum during lockdown because of Coronavirus, and even after the ongoing unlocking procedure.
This particular service has been initially commenced from the city of Bengaluru and the company is planning for conducting pilots in other cities as well while moving forward.
Because of the critical situation created due to COVID 19, the Government had to impose lockdown and ask the nation to maintain social distancing to prevent the virus from spreading. Hence as an alternative to continue their regular survival, customers had to jump on to the online consultation, medical tests, treatment, and medicine delivery. By analyzing the situation it can be clearly understood that the healthcare start-ups Practo, 1mg, NetMeds, Medlife, and PharmEasy are enjoying a massive increase in their demand, along with the increased funding activity, like ed-tech platforms, which outperformed all other sectors when compared to other start-ups.
An Amazon spokesperson said that “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.”
It is predicted that in this financial year of 2020, India’s digital health market will increase to 4.5 billion US dollars when compared with 1.2 billion US dollars in FY20, according to the data by RedSeer Consulting. It is also estimated that the digital health market will grow up to 25 billion US dollars in FY25, and when compared with its pre-COVID 19 estimates of 19 billion US dollars. The biggest majority will be held by the medicine delivery segment.
The bigger healthcare firms like 1mg, Practo, PharmEasy, Medlife, Netmeds are witnessing an increase in demand and user interest in this COVID era, not only that, even the smaller start-ups like mfine and BeatO are enjoying the same because people now are spending on boosting their immunity, treating illnesses via online consultations and are also buying medicines online.
Mfine is a Bengaluru-based and has achieved to be called an on-demand healthcare service, it has grown 3-4 times in recent months. Practo Technologies, the E-health platform also registered a massive 600% growth in online consultations since the lockdown commenced in the March month of this year, with 70% of all the users being first-time telemedicine users and 45% of them were from smaller cities.
- Amazon Pharmacy will make its debut in Bangalore and it may be drawn to the other cities of India as well
- This step proved that the online drugs business has been provided a major boost during this era of coronavirus pandemic
- The Amazon Pharmacy service will be offering prescription, over-the-counter, and traditional Ayurveda medication as well as basic health devices too
- Amazon began its move into pharmaceutical retailing in the year 2017 and the next year it bought US-based home delivery medications startup named PillPack
- By the end of the previous year, the firm was able to introduce its Amazon Pharmacy branding to PillPack’s service
- In the month of January, the company filed to trademark the name Amazon Pharmacy in the countries of the UK, Canada, and Australia.
- The move was seen as a sign that Amazon was all set to significantly expand its prescription drugs business even outside of the United States.
Numerous nations are trying to shift healthcare delivery on to the internet, encourage online medicine bookings, incentivize telemedicine, and use chatbots for answering the queries of patients.