Recently, CareOnGo launched a B2B mobile app ‑ InstaStock ‑ to facilitate pharmacy retailers, hospitals, health institutions to procure medicines and health products from more than 100 brands directly from the manufacturers. It has also tied up with LendingKart, allowing instant working capital loans to the tune of Rs 1 crore and allows higher margins through bulk procurement for retailers. According to the platform, more than 800 pharmacy retailers are actively using the InstaStock app and buying from the platform.
China Jo-Jo Drugstores, Inc., is a leading China-based pharmacy with retail, wholesale and online distribution of pharmaceutical and health care products through its own online and retail pharmacies. As of July 26, 2016, the Company had 62 retail pharmacies in Zhejiang Province, China. The Company's wholesale subsidiary not only supplies its retail stores, but also distributes drug and other healthcare products to other drugstores and drug vendors. For more information, please visit: (Chinese) and (English).
CareonGo seems to be consistent in its B2B approach. Early this year, targeting the B2B segment, it introduced Pharmalytics feature, an analytic platform dedicated to pharmacy retailers, on its platform. This analytic platform helps retailers to analyse sales, purchase and inventory stock to solve the business challenges. With data analytics, the platform is enabling these pharmacies to cut down their logistic costs, calculate their margins on the spot, and stock up for specific orders for infections that require temperature control.
The Pharmacy Retail Market in India 2014 is a report based on the latest market research performed by Netscribe. It goes into detail about the pharmacy outlets changing role and gradual transition of the market towards an organized format. Today, the Indian pharmacy retail market is mainly unorganized and fragmented. A large portion of the organized players are regional operators. However, the market is sustainable and it's expected to have considerable growth due to the existing disease profile and emergence of newer illnesses that are affecting the increasing domestic population.
The Indian pharmacy market is highly regulated, but it does have an issue with substandard and counterfeit drugs circulating that is hampering the retail segment of the business. Pharmacy regulatory bodies in the country are taking measures to control this threat as it is drastically hampering generation of revenue. Major initiatives are also being taken by the government to ensure subsidized rates for medicines and to engage in teleconsultation services and distribution of medicines in rural areas. The incorporation of value added services is also being done by organized players, so to gain a bigger market share. Initiatives are also being taken to build customer loyalty to brands. Overall, the pharmacy retail sector in India consists of a stable market that is expected to grow strongly in the near future.