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How consolidation is sweeping through fast-growing online pharmacy sector

Reliance swoops on Netmeds; sector expected to hit revenues of over $3.6 bn by 2022

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The online pharmacy market is growing at a CAGR of 63 per cent and is expected to hit overall revenues of over $3.6 billion by 2022

Surajeet Das Gupta Sohini Das New Delhi/Mumbai

5 min read Last Updated : Aug 20 2020 | 6:01 AM IST

Consolidation is sweeping through the fast-growing online pharmacy sector. Reliance Industries, through Reliance Retail, bought a 60 per cent stake in Netmeds on Tuesday for $83 million.

Elsewhere in the sector, PharmEasy is reportedly looking at merging with Medlife to create an entity valued at $1.2 billion, according to analysts. If it goes through, it will provide scale for PharmEasy.

Based on July 2020 figures from SimilarWeb, PharmEasy currently has over 1.79 million visits on its app and PC (not daily average users). Merging with Medlife will help it become a formidable player, doubling the number of visits to 3.6

Topics : Netmeds online pharmacy E-Pharma Reliance Capital

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