Bengaluru, August 13: Marking its entry into the online medicine delivery market, E-commerce major Amazon India has launched Amazon Pharmacy. It will compete against PharmEasy, 1mg, Medlife and NetMeds. The service is currently live in Bengaluru, the company said in a statement. In future, Amazon may also conduct pilots in other cities too. Amazon-Reliance Deal: Jeff Bezos-Led Company In Talks to Buy 9.9% Stake in JioMart, Says Report.
“As a part of our commitment to fulfill 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,” an Amazon spokesperson said.
The online pharmacy segment has seen rapid growth since the novel coronavirus outbreak and lockdown. This development comes at a time when Reliance is reportedly planning to acquire Chennai-based Netmeds for $120 million.
Similar to edtech platforms, Healthcare startups are witnessing a surge in demand and spurt in funding activity. According to RedSeer Consulting, India’s healthcare market can expand to USD 4.5 billion in this financial year.
(The above story first appeared on Fool’s Corner on Aug 13, 2020 10:39 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website foolscorner.com).