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AskmeBazaar to launch Askmemeds: Online marketplaces for medicines


AskmeBazaar to launch Askmemeds: Online marketplaces for medicines

 Bangalore: Customers can buy essential medicines across 38 cities through  AskmeMeds, an online health market portal  going live within the next  three months.

It is being launched by an online marketplace AskmeBazaar, a Gurgaon based company, that promises to deliver within 4-6 hrs of having placed the order.

According to ET, Askmemeds will be competing with startups like Pluss, 1mg and mChemist according to the company CEO, Ankit Jain.

The total revenue generated by the online sales of healthcare products in India was 5,075.9 million in FY15 ,  an increase from 771.0 million in FY12,  (CAGR of 87.4%) according to a report, India Online Healthcare Products Market,

Experts are of the opinion  that the online market is crowded with similar options; therefore, unless a player brings something new on the table with a unique business model it won’t attract many. “Such models are now going to impress only slow investors. As a consumer you get more choices, but then again the question is what is the value that you are adding and where is the money?” said Harminder Sahini, MD of Wazir Advisors.



Source: Inputs from Economic Times
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