STOCK MARKET BSE NSE

Amazon to sell prescription medicines in Bengaluru, may expand service to other cities soon

The online pharmacy sector which is poised to reach $2.7 billion by 2023 according to an EY report is currently dominated by startups like 1Mg, Pharmeasy, Netmeds, Medlife among others.

Published: 14th August 2020 01:08 PM  |   Last Updated: 14th August 2020 01:08 PM   |  A+A-

Amazon

For representational purposes (File photo | PTI)

Express News Service

E-commerce giant, Amazon has ventured in the online medicine space  in India with the launch of ‘Amazon Pharmacy’ in Bengaluru. The service is likely to be extended to the other cities. 

Apart from the non-prescription, traditional Ayurvedic/Unani medicines that were available on the platform under Amazon healthstore category, the e-tailer will now sell prescription medicines.

“As a part of our commitment to fulfill the needs of customers, we are launching Amazon Pharmacy in Bangalore 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 India said in response to an emailed query.

Amazon Pharmacy is already operational in several countries including US, UK and Canada. In US, Amazon acquired  an e-pharma startup, 'PillPack,' three yaers ago, to gain access to the growing market. In India, the e-pharma market has witnessed further consolidation with the mergers and acquisitions in the space. 

The online pharmacy sector which is poised to reach $2.7 billion by 2023 according to an EY report is currently dominated by startups like 1Mg, Pharmeasy, Netmeds, Medlife among others.

The e-pharmacies have  driven sales through omni-channel commerce by either having their own physical stores or tying-up with registered brick and mortar stores. Bengaluru based Medlife recently acquired Myra, a two-hour medicine delivery service  whereas another major player, Netmeda had acquired an online doctor consultation app, JustDoc.

Besides, Reliance was also reportedly in talks with Chennai based Netmeds to acquire a controlling stake in the firm.

Apart from the M&As, the e-pharmacies have also added a host of features like doctor consultations, voice assistants, diagnostics among others. Although India doesn’t have a separate law for the e-pharma sector, the draft rules state that the retailers need to have a valid license to be able to sell prescription drugs. The e-pharmacies have  driven sales through omni-channel commerce by either having their own physical stores or tying-up with registered brick and mortar stores.


Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp