The e-commerce firm Amazon India has launched Amazon Pharmacy in Bengaluru. With this Amazon now foray into medicine segment that has significantly gained momentum amid COVID-19 caused lockdown.
However, for now, Amazon only launched this online pharmacy service in Bengaluru, but the company may conduct pilots in other cities soon.
We all know that the ongoing COVID situation led-lockdown and social distancing have prompted customers to move to the online consultation, treatment, medical tests, and medicine delivery. That’s the reason that the healthcare startups like Practo, NetMeds, 1mg, PharmEasy, and Medlife and many more are witnessing a huge surge in demand. This is similar to EdTech platforms, which outperformed all other sectors during the lockdown. But let’s talk about the healthcare scenario and related development here.
Interestingly, the service is also available in Howrah and some select cities of West Bengal, Entrackr quoted the sources familiar with this.
Meantime, as reported by Mint, with launching all-new pharmacy service, Amazon spokesperson said;
“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.”
This also becomes interesting as RedSeer Consulting‘s report suggests that the Indian digital health market will expand to $4.5 billion in this financial year, compared with $1.2 billion in FY20.
The consultancy has also rosed the digital health market to $25 billion in FY25, compared with its pre-COVID estimate of $19 billion. Also, according to RedSeer, medicine delivery will continue to comprise a large majority of the market.
The online pharmacy space is estimated to be a $55 billion worth segment by the end of 2020. Notably, last year, the Health Ministry revised draft regulation asking e-pharmacies to partner with offline retail pharmacies only to deliver drugs to consumers and not stock medicines. But there are many online pharmacies that have been opposing the revised draft as it affects their margin and increases dependencies on local pharmacists.