Pharmeasy Business Model: How Does Pharmeasy Make Money?
PharmEasy, a Mumbai-based online healthcare delivery platform, permits consumers to acquire essential pharmaceuticals, healthcare goods, and diagnostic tests at their doorsteps within the quickest period. PharmEasy, a well-known digital pharmacy, is making a substantial contribution to the modernization of healthcare in India because of the country’s burgeoning digital healthcare industry.
As the largest online pharmacy and top healthcare aggregator, the business has established itself in the grey market, where prospective investors can purchase PharmEasy unlisted shares. Because PharmEasy is the industry leader, so its business strategy sets it apart.
Know About Pharmeasy
Dharmil Seth and Dhaval Shah founded PharmEasy in 2014 to lower healthcare costs and facilitate access for all Indians. The company provides online consultations, prescription drugs, diagnostic testing, and medical supplies from licensed, reputable pharmacies.
The company opened new locations in five cities after receiving Rs. 34 crores in series-A funding in 2016. The company expanded into 700 cities after receiving Rs 104 crores in series-B funding in 2017. The company increased PAN India’s footprint after obtaining Rs 13 crore in series-C funding in 2018.
Over 10,000 PharmEasy retail locations are operational around the clock to guarantee that medications are delivered promptly and at the most competitive cost.
Pharmeasy Company Details
|Dharmil Sheth, Dhaval Shah
|Online pharmacy, Medicine delivery, Healthcare products
|Pan-India, serving multiple cities
|Collaborations with various pharmacies and healthcare providers
|Online platform for ordering medicines and healthcare products
|Available on iOS and Android
Pharmeasy’s Business Model
PharmEasy has a simple, easy-to-understand business plan that operates in a specific manner. The business ensures that all the medications and supplies it provides are of the highest caliber and delivered on schedule. PharmEasy has partnered with several pharmacies that hold valid licenses to distribute pharmaceuticals. The company’s business plan provides a 20% discount on orders gathered through the app. The company’s comprehensive customer-centric approach sets it apart from its rivals.
PharmEasy’s business model also includes the company’s competitive advantages over rivals, including Myra Medicines, Brown Packet, Hello Heart, and Ranger Health.
Let’s examine the company’s advantages:
- Increased application of cutting-edge technology: Online shopping has become more convenient due to the growing usage of technological technologies, particularly in the wake of the Covid-19 pandemic. Companies such as PharmEasy benefit greatly from being able to grow their business largely online.
- Utilizing mobile health solutions more and more online businesses have experienced growth since the release of mobile health systems and applications. Access to healthcare solutions has improved with the growing popularity of mobile health.
- Affordable options- Because more intermediaries are involved, brick-and-mortar pharmacies are more expensive. Online pharmacies offer reasonably priced goods because they do not use middlemen or other third parties.
- User-friendly approach- PharmEasy enables users to purchase medications or drugs at the touch with just one click. As a result, the entire procedure is practical and easy to utilize.
Pharmeasy Revenue Model – How does Pharmeasy make money?
Regarding revenues, advertising is the PharmEasy organization’s primary source of money. On the “Home” page, the many PharmEasy features accumulate. Alternatively, you could look for beneficial outcomes from several pharmaceutical firms. These adverts may come from unique sources like telephone corporations, diagnostic clinics, or e-wallets. The corporation also makes money from the selling of medication and exercise equipment. It is also a significant way for the company to generate income.
Most internet portal e-commerce businesses use this business model. The parent organization predetermines each person’s portion of the payments. The most recent market conditions are considered while determining this charge. You must control your spending when there is a competition to earn more money. The products on the website must have competitive prices. Striking the correct balance between the two is difficult but crucial.
Thus far, PharmEasy has purchased Thyrocare, Aknamed, and Medlife, three significant businesses. PharmEasy’s competitors included Medlife. The corporation also generates revenue from the selling of exercise and drug equipment. The business also made money from teleconsulting, software, licensing online sites, and diagnostic services.
The business also generates income through its commission model. By the current state of the market, the commission percentage has already been determined. The company has recently raised over $1 billion thanks to its remarkable revenue strategy.
One of the top online pharmacies that connects customers to local pharmacies is PharmEasy. They were among the first in India to modernize healthcare. PharmEasy is a prominent healthcare aggregator and one of the largest e-commerce companies in the nation. The PharmEasy business strategy aims to supply medications and other pharmaceutical supplies to several contemporary Indian cities.