Amid coronavirus pandemic, Amazon launches online pharmacy services in India; check details here
New Delhi | Jagran Business Desk: E-commerce giant Amazon India has launched its online pharmacy arm – Amazon Pharmacy – after the said online retail segment recorded a huge surge in its business during lockdown that was put in place to control the spread of the novel coronavirus. Even after successive unlocking, the online pharmacy segment continues to stay up with its growing momentum.
The company has launched its Amazon Pharmacy service in Bengaluru on a trial basis and is further likely to expand it in other cities and metropolises. Earlier, the online pharmacy startups such as NetMeds, 1mg, Pharmeasy, and Practo had reported a huge surge in demand amid the restrictions put in place to control the rising number of COVID-19 cases. This is also leading to an increasingly enhanced funding of these startups from the tech-investors.
“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,” Amazon said in a statement.
This marks Amazon’s second big entry into an all-new segment, since the launch of Amazon Foods earlier this year.
Record expansion of digital health market in India
Reports from various market consultancy firms suggest that India is set to record a remarkable expansion of the digital health market in India, be it Online Pharmacy or online medical consultations. Bengaluru-based Redseer Consultancy increased its estimate of the Indian digital health market from a pre-COVID projection of USD 19 billion (for Finance Year 2025) to the current projection of USD 25 Billion. Currently, the digital health market value stands at USD 1.2 billion, implying almost a 21 times increase in the said sector in the coming five years.
Posted By: Aalok Sensharma