Last Updated on February 28, 2024 by The Health Master
E-Pharmacy
E-Pharmacy: India, a rising global powerhouse in various sectors, has firmly established its dominance in space and technology.
Expected to become the third-largest economy by 2030, the country is at the forefront of technological adoption, with a thriving startup ecosystem and millions of mobile subscribers.
However, amidst this digital revolution, the healthcare sector still relies on traditional brick-and-mortar practices, limiting its reach and efficiency.
The Current Scenario
In contrast to the tech-savvy advancements in other domains, the Indian healthcare sector predominantly operates through physical pharmacies.
A report by Copenhagen Economics reveals that a significant percentage of individuals in the European Union, where online dispensing services are prevalent, believe that such platforms enhance medication adherence.
The E-Pharmacy Advantage
Secretary General of Empower India, K. Giri, emphasizes the need for India to embrace e-pharmacy.
He states, “In an era of digital transformation, regulators must incentivize traditional pharmacies to venture into e-commerce, ensuring uniform access to prescribed medicines.”
Global Success and Indian Potential
Drawing inspiration from successful e-pharmacy models in Europe, Giri believes that India can lead the charge towards a more accessible and patient-centric healthcare landscape.
He underscores the advantages of e-pharmacy, describing it as a global boon for patients.
Regulatory Frameworks and Growth
Giri highlights the crucial role of flexible regulatory policies in fostering e-pharmacy growth while safeguarding patient interests.
He urges Indian policymakers to implement adaptable frameworks that mirror Europe’s success.
Market Projections and Opportunities
With India’s e-pharmacy market projected to reach INR 89.47 Bn by 2027, there is immense potential for both conventional and online platforms to capitalize on this burgeoning sector.
E-commerce platforms are aligning themselves with consumer demands, offering streamlined experiences and end-to-end solutions.
Digital Health: Bridging the Gap
While e-pharmacy contributes significantly to digital health revenue, the focus is shifting towards broader offerings such as teleconsultation, diagnostics, care packages, and surgery assistance.
At a nascent stage, digital health has the potential to eliminate geographical constraints, connecting patients with providers regardless of their locations.
Revolutionizing Healthcare Access
A significant benefit of e-pharmacy is the elimination of geographical barriers.
Patients in small towns can consult specialists located in metropolitan areas within minutes, and doorstep delivery of prescribed medicines becomes a reality for those in remote locations.
Challenges and Opportunities
While e-pharmacy dominates digital health revenue, there is an increasing focus on diversification.
Challenges include regulatory hurdles and the need for building trust in online healthcare services.
However, the opportunities are vast, with the potential to revolutionize the healthcare landscape.
Disclaimer: This article contains information derived from the source mentioned below. Our team utilized an AI language model to rewrite and present the news or article in a unique format.
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