E-pharmacies gaining strong foothold

Over the last few years, especially with the increasing use of e-prescription by hospitals coupled with internet penetration and enormous growth in the number of smartphone users, the e-pharmacy industry in India is slowly gaining significance.

Instead of visiting brick-and-mortar pharmacies, there has been a rising demand for buying medicines online and one of the main reasons for this is convenience.

Though the e-pharmacy industry is at a nascent stage in the country, according to Frost & Sullivan, the market, which is estimated to be around $512 million (Rs 3,500 crore) in 2018, is estimated to grow at a CAGR of 63% to reach $3.65 billion (Rs 25,000 crore) by 2022.

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