Today Medlife is an established entity across all online pharmacy portals. It has found its feet among all competitors and succeeded with flying colors. Tushar Kumar, the CEO, and Founder of Medlife International Private Limited has claimed during an interview with News Nation that the turnover of the company for the last financial year reached up to 330 crores. Kudos to Medlife’s success!
Online pharmacy market is reaching its pinnacle as the medicinal needs of people are increasing day-by-day with no spare time to rush and buy medicines from the shop. The Indian Online Pharmacy market is prodigious and it sums up to approx 800 crores. In the near future, it is expected to increase by 20% which will huddle up to approx 6000 crores.
Medlife understands the needs of its customers and accordingly sells medicines at economic prices that can be under one’s budget. All the prices of Medlife medicines are 20-30% less than the one available at pharmacy shops. From the manufacturing of essential drugs to the logistics, Medlife is handling every core task on its own. This saves the company from giving an extra commission to anyone whether it’s a vendor or a third party distributor.
Here are the words from the CEO of one of India’s top Online Pharmacy Company:
Tushar Kumar highlighted the fact that this year, Medlife has achieved the GMV target by making a turnover of approx 330 crores. A big deal for a startup like Medlife that has overcome every economic circumstance and emerged as one of the best healthcare and medicine provider.
In the present scenario, the biggest challenge of the online pharmacy market is to increase its market share. This can be fulfilled by catering to the needs of the people in terms of timely medicines’ delivery, hassle-free service, providing the best healthcare services in the industry and Doctors with expertise. He further concludes that if we sum up all the top players of online pharmacy, the overall market share will be just 2%. This percentage is very less in comparison to the online pharmacy market of western countries like US, UK, Australia and New Zealand. They have a market share of approx 30-35%. A well-developed market and structured network is the reason behind the development of the E-pharmacy in other countries, and he expects to see the same in India within the next decade.
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