“Reliance should have significant advantage with its large physical retail presence and should significantly expand the online medicine market in India," said Credit Suisse in a research report dated 19 August, commenting on the Netmeds acquisition. The app offers lab tests and health check-ups where tests can be booked for home collection and the report is delivered directly on phone. The Indian pharma retail market, with a revenue opportunity of $35 billion, has three main categories— generic drugs, over-the-counter (OTC) drugs, and patented products. “We estimate the domestic retail market to grow at 10-12% CAGR to $30 billion by 2024, driven by increasing affordability, rising healthcare awareness (and insurance) and technology-led investments to improve supply chain efficiency," said BofA Securities. RIL, which invested ₹10 crore in health-tech app Karexpert in May 2018, has its services integrated with Jio Health Hub.

Source: Mint August 20, 2020 02:26 UTC