Everybody is just happy with the pharmaceutical industry’s retail and wholesale market. Digitalization is also done by the same pharma industry. But many times it is seen that this industry is not organized.
Order online :
You can purchase medicines simply by sitting at home with just a click from various e-commerce stores. PharmEasy is one of the major players that make deliveries easy. Rapid growth is seen with new technology and the internet. Growth of Internet users – This industry is expected to grow at a CAGR of 8.78% in 2020-25.
The E-commerce delivery platform is developed to simplify and digitized the healthcare structure. Patients can easily stay in touch with local stores and other outlets too. Advanced technology and information are some of the major factors which play a great role in well-being and health. Dharmil Sheth and Dr.Dhaval Shah are the founders of PharmEasy who came up with this idea in 2014. Supplies are done to almost 98% of pin codes in India. Door-to-door delivery of medicines is the goal of PharmEasy. Starting from doctors’ appointments to delivery of reports and medicines is done easily by PharmEasy.
Revenue growth :
Revenue doubled from Rs340 crore to Rs 737 crore in 2020. 220% jump was also seen in 2021 from Rs737.4 crore to Rs2,360 crore. Expenses too went upward with revenue growth from Rs 1,084.4 crore to Rs 2,980.9 crore.
Business model :
Pin codes are registered by PharmEasy which makes customers find nearby pharmacies. Both websites and applications can be used by customers. Those who order from the app get a 20% instant discount which increases positive brand image and adds more new customers. Buyer, supplier, and distribution networks play a key role in the chain. The company earns revenue through delivery charges present on products or commissions from customers for our healthcare products.
Investors of PharmEasy :
The company has received $1.60 billion in funds till now. Pre IPO worth $354 was received from VestinWolf Capital Management. Its value was $1.8 billion after it raised $500 million in Series F funding. Pre-pre-IPO of $354 million was also received which was split into two rounds. The company’s value is $5.4 billion as of February 2022. Compatwill decides on its IPO round and also will not set any price before approval from SEBI.
“The health care business is like a circle and you can enter at any point,”Dr.Dhaval Shah.