Internet-based businesses are on the rise right now. And this has been the trend for the past couple of years. People are now busy taking time and going to the market to purchase their needs, so they prefer to order everything online. This is a logical choice, as it means they save time and money. And this has been the case with medicine purchases also. People are increasingly purchasing their medicines from online stores or platforms.
And to meet the growing consumer demand, more and more businesses are compelled to adopt medicine delivery app development and start selling medicine online.
Another reason why many pharmacists are rapidly implementing medicine delivery app development is that big corporations have risen to the occasion and have started to monopolize the market by offering their services to a wider geographic area, risking market consolidation in the hands of a few firms.
They usually charge exuberant commission fees from pharmacists to list them on their platform, which is not feasible or practical. That is why thousands of pharmacists worldwide are turning to ePharmacy platform development companies to develop their own medicine delivery apps. How have they fared? What is the state of the medicine delivery market? Let us turn to statistics for this market segment to answer those questions.
Online Medicine Delivery (Online Pharmacy) Market Overview
Medicine delivery apps are rapidly growing in popularity because they provide an additional revenue stream for pharmacists while being convenient and economical for the end-user.
Revenue in the Online Pharmacy segment is projected to reach 2061 crores (US$20.61bn) in 2022 and is expected to show an annual growth rate (CAGR 2022-2026) of 14.42%.
It is not just plain numbers, though. As with the overall growth of the medicine delivery app market, its user penetration is also increasing substantially. According to many reliable reports, user penetration of the medicine delivery apps will be 19.73% in 2022 and is expected to hit 27.73% by 2026.
And the most lucrative part of this all: The average revenue per user (ARPU) is expected to amount to Rs. 1100.47 (US$13.83)
At this point, it is clear that medicine delivery app development is on the rise. But do you know what factors contribute to this exponential rise and user acceptance? Let us find out.
How Medicine Delivery Apps Benefit Your Business?
Now let us see how medicine delivery app development can be beneficial for your existing pharmacy.
1. Customer CRM management:
Who doesn't like a personal touch? With the help of a feature-packed medicine delivery app, you can collect your users' birthdates, send them wishes on their birthdays, and provide special discounts; that way, they will be glued to your platform.
You can also manage your customer details and usage patterns to give them specific discounts on selected products.
2. Provides a competitive advantage:
Launching a medicine delivery application will enable you to differentiate yourself from your rivals. You gain a clear-cut advantage straightaway, and besides, if you are one of the first to implement a medicine delivery app in your locality, people will associate your name every time they want medicines at their homes because you will be the first one in your locality to deliver medicine at users' homes.
3. Boosts Exposure:
Your pharmacy can improve its brand recognition by developing a medicine delivery application. Improved brand recognition is sure to increase your sales and build trust.
4. Improves Customer Satisfaction:
Customers will return to your app again and again if you provide a pleasant and satisfactory experience because they prefer to shop in a cost-effective and time-efficient manner. They value time and money when purchasing goods. You can improve the medicine buying experience of your customers by fulfilling their needs by occasionally offering discounts on certain products. You can also utilize push notifications to keep customers informed and engaged.
Workflow of a typical medicine delivery application
The workflow of most medicine delivery apps is similar. Still, there can be differences, like whether a customer pays for the order upfront or chooses to pay on delivery, etc. The workflow of an experienced medicine delivery app development company, EMedStore, is as follows:
1. Create Account:
First and foremost, users need to create an account on the medicine delivery platform to start ordering medicines. They may need to fill in basic details like their name, email ID, phone number, etc. which might be helpful in creating and maintaining the account, password reset, etc.
2. Search for Medicine:
Users can search for medicines by typing in the search bar or using voice menus. If their desired medicines are unavailable, they can also search for substitute medicine. They can even search by typing the name of the manufacturer or the medicine composition. They will be shown substitute medicines also.
3. Upload medicine order:
If users want to purchase medicine order medicines, they also need to upload a valid medicine order to purchase some medicines, as the law requires. Users can either upload the medicine order from their phone gallery or click the photo of the medicine order. Some medicine delivery apps provide the facility of "request medicine order", wherein a registered pharmacist can write a valid medicine order for a user if they don't have one. In such cases, after sharing their medicine order, users will get a quotation for their order.
4. Pay the Order:
After these steps, users can pay online through various payment gateways.
5. Place the Order:
After paying for the order, users need to place the order.
Also, Check out Different Types of Online Pharmacy Business Models.
Consumers' altered medicine purchase patterns have compelled pharmacists to turn toward medicine delivery apps.
Increased business for providers as well as cost and money-savings for consumers means it is a win-win situation for both parties; hence, it looks like medicine delivery apps are here for the long haul.
Do you want to have your own medicine delivery app? EMedStore - Pharmacy app development company has worked in this field for the last 7+ years and has helped many pharmacists like yourself beat the competition and add an additional and proven revenue stream. Contact us now to claim a free trial of SaaS online pharmacy.