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PharmEasy has developed a healthcare delivery platform to simplify and modernize the healthcare setup in India. The platform helps patients to stay connected with various local pharmacy stores and outlets. Data and technology are the driving factors behind a robust health and well-being ecosystem today and PharmEasy is leveraging both of them to strengthen healthcare in India.

If you are wondering "What does PharmEasy do?" then PharmEasy serves as an online pharmacy and handles the hassle-free delivery of medicines and other medical equipment. PharmEasy operates in several major cities in India. Shopping for medicines online has thus, become convenient and easy through PharmEasy. The company delivers medicine and other medical equipment to thousands of customers every day.

PharmEasy - About And How It Works?

Pharmacy is an e-commerce platform for the purchase of medicines and other healthcare-related equipment. Whenever one uploads a prescription on PharmEasy, it is then sent to a drugstore in their vicinity. The company uses a mobile app and web technology to offer the best quality healthcare products and essentials to its customers at affordable rates. The pharmacy provides top-notch products at par with the quality that you can find in reputed pharmacies and medical stores.

PharmEasy - Industry

Along with all the industries of now, the medicine/healthcare industry has also been witnessing decent growth empowered by the penetration of new-age technologies and the internet. Internet users have already grown at a CAGR of 18.17% between 2015 and 2019 and are further expected to rise at a CAGR of 8.78% in 2020-25. Besides, the e-commerce transactions also increased by 71.3% between April and September 2020.

The market of the Indian e-pharmacies is predicted by a leading consulting firm to grow greater than 7X times between 2019 and 2023 and is expected to rise to $2.7 billion (Rs 21,081 crore) by 2023, which was recorded at $360 million (Rs 2810 crore), at a CAGR of 65.5%, which is fascinating, to say the least.

PharmEasy - Business Model

PharmEasy delivers medicines and other medical accessories across Indian towns and cities. It is like Grofers for medicine. The pin codes maintained by PharmEasy are used to identify pharmacies closest to the customers. Customers can either access PharmEasy's website or use its mobile app to order items. They are entitled to discounts of up to 20% if they order using the mobile app, which further increases brand recognition and adds new customers to PharmEasy.

PharmEasy is an e-pharmacy, the processes of which are mostly online acting as a 3-way chain between the buyers, suppliers, and the distribution network.

Buyers - PharmEasy is a ready platform from which buyers can search for their medicines or healthcare accessories and buy them online without any hassles.

Suppliers - PharmEasy collaborates with a wide range of local suppliers and medical shops, all of which help the company arrange their stocks and keep them live online. Besides, the company also earns revenue from various pharmaceutical companies that want to showcase their products online and on the PharmEasy app as featured brands.

Distribution channel - PharmEasy operates with a vast distribution spread out all across the nation. This helps the company to deliver its products for a broad range of pin codes all over India.

PharmEasy - Revenue Model

PharmEasy primarily earns by displaying the sponsored results of various pharmaceutical entities. These kinds of advertisements are found on the home pages of such organizations. Advertising is a major source of revenue and this e-pharmacy leverages it to the hilt. Besides, with the new-age strategies, you can now advertise your products, services, or business with little or no money and market your brand. Attractive discounts also contribute to PharmEasy's revenue. Furthermore, PharmEasy earns commission from its customers for the healthcare products and medicines that are sold via the platform. The brand also earns through the delivery charges that get levied on the products.

PharmEasy - Funding and Investors

API Holdings, the parent company of PharmEasy, has raised INR 1,804 crore ($216 million) in a funding round led by Ranjan Pai's Manipal Education and Medical Group (MEMG) along with its existing investors on 29 April 2024. The valuation of PharmEasy as of September 2024 is $458 million.

PharmEasy - Competitors

The company's top competitors are:

· Tata 1Mg

· Ranger Health

· Medibuddy

· Myra Medicines

· Hello Heart

· BrownPacket & more

Besides, there are also other hospitals and chains like Apollo Pharmacy that are trying to boost overall sales via their online platform along with their brick-and-mortar stores. Most of the companies mentioned here are trying to reinforce their online delivery system of medicines. However, most of them are trailing PharmEasy.