E-Pharma vs Offline Pharmacy: Which Segment to invest in?

Introduction:

With each passing day, the more we are forwarding toward the development, the more we are drowning into the field of artificial leaving. From day to night, whatever we consume everything is genetically modified. The air that we breathe is polluted, and the water that we drink is contaminated. Hence, each passing day we are indirectly inviting several diseases in our body. And these compel us to take the shelter of medicines, which raise the pharmacy business.



Pharmacies are always promising business options. With the increasing number of customers, the said business is enhancing its growth. There are many segments in the health-care industry and pharmacies have proved the most profitable one. India is known as the pharmacy of the world due to its huge medicine production capacity. Government announces several projects for the health industry that will provide more job opportunities. Therefore, with more job opportunities, high profit, and a promising future makes people think twice to venture into this field.

We all know that the pharmaceutical business is an unorganized sector. However, several operators own this business. But the fact is that the other business owners are spreading their roots by adopting the E-commerce and indulging in the franchise system. The more penetration of the internet has made the business owners helpless and left with no option other than choosing for online business. Hence, the concept of online pharmacy emerges.

Important factors of E-pharmacies and offline pharmacies:

·       E-pharmacies are also popular, by its name, digital pharmacies, which operate with the help of cloud computing. Business owners prepare a particular application giving their brand name to run the business. Customers navigate these applications for the medical store home delivery option. 3MEDs is one of the instances which offers online medicine delivery 24 hours to serve their customer in the most satisfying way possible.




·       Offline pharmacies or retail pharmacies are also known as brick-and-mortar pharmacies. They operate from a particular place, setting up shop to deal with the customers with government approval. They strictly adhere to all rules and regulations implemented for them and provide the medicine only after scrutinizing the prescription authorized by a doctor. They assure the customers with the authentication and integration of their shop and drugs as well.

 

Reason to invest in digital or traditional pharmacy business:

More profit interest, reliable career, and thought of job opportunity compel people to think for investing in the pharmacy business. But the tussle is which platform to choose? Both digital pharmacies and brick and mortar pharmacies have their pros and cons. 

 

Digital pharmacies have a larger number of customers by spreading its root in the global platform. People indulging more in penetration of the internet is also a good factor that raises the business. However, these days the franchise system is adding more color to the pharmacy business as people can easily take the franchise of online pharmacy business in India. 

 

However, people also have to consider the fact that investing directly in the digital pharmacy business is a matter of high expenditure. To establish the said business, the owner has to strategize a proper plan that includes setting up the online platform, developing one new application, hiring experts from the digital background that cost a high labor charge. Also, for taking the franchise, the owner has to show the area where he will establish the business. More concentration has to give on the legal procedure as the authorities from the Food and Drug Administration (FDA) are stricter toward the digital pharmacy business. And the vital factor is that digital pharmacies are not allowed to sell Schedule X drugs that are in high demand.

 

Brick and mortar pharmacies business is a traditional form where most of the customers are still reliable even after the evolution of E-pharmacies. Medicines are one such thing for which customers will not prefer to wait for long. They prefer more to go to the store and get access to the medicines of their demand. Also, they could take all the information related to medicine from the pharmacist easily. Hence still the traditional form is smoothly leading the competition.

However, different offers by E-pharmacies are a big deter for traditional pharmacies as they cannot give high offers in their products taking care of the revenue margin. 




 

In conclusion, retail or online pharmacies, both have their own set of importance, and neither one can grow without the help of the other. India is a pharmaceutical powerhouse and soon to becomes a superpower; however, the medical rules and regulations need an amendment that is timely and relevant. 


Keywords: E-pharmacies, medical store home delivery option, online medicine delivery 24 hours

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