IIDE Logo
seo courses in chennai- iide logo

A Comprehensive SWOT Analysis of PharmEasy – India’s Number One Healthcare & Medicine Delivery Platform

by | Case Studies | 0 comments

In our previous blog, we did an elaborated SWOT Analysis of One of India’s Largest Pharmaceutical Companies, Abbott. Here we will be doing a comprehensive SWOT Analysis of PharmEasy. 

PharmEasy is India’s number one healthcare and medicine delivery platform which is done online. It strongly believes that everyone must have access to good health and affordable healthcare in the country wherever they reside.

With this core belief, through their services (medicine delivery and diagnostic tests), they make sure that their customers get 100% genuine medicines and health products, with the highest savings as quickly as possible.

Do you want to know how PharmEasy became India’s No.1 health and medicine delivering Platform? The answer is by implementing the latest digital marketing techniques. As most people are using digital media it is easy for businesses to market their target audience. 

Thus digital marketing is essential for every business. If you are interested in learning what digital marketing is and how to use it to your advantage – check out our Free MasterClass on Digital Marketing 101 by the CEO and Founder of IIDE, Karan Shah.

In this blog, we will explore the SWOT Analysis of PharmEasy and discover more about how they’ve succeeded be successful in the medicine delivery industry. Before we start with the SWOT Analysis of PharmEasy, let us learn more about PharmEasy as a company.

Digital-Marketing-MasterClass

About PharmEasy

SWOT Analysis of PharmEasy - Founders of PharmEasy

           (Founders of PharmEasy, Source: Timesnext)

Dharmil Sheth, the founder of PharmEasy, and his doctor buddy, Dr Dhaval Shah came up with the thought of establishing an online pharmacy. Both of them had trust in the future and the potential of technology in the healthcare sector and it is this thought that originally gave rise to PharmEasy in 2014. Presently, PharmEasy widens its supplies to nearly 98% of the Indian pin codes.

PharmEasy serves as an e-commerce pharmacy and delivers medicines and other medical equipment without any hassle or trouble. PharmEasy operates in several major cities of India, including the slums and other poor areas where there is less access and affordability for medicines and other essentials. 

Purchasing medicines online has become convenient and easy through PharmEasy thanks to the benefits of digital marketing. The company delivers medicine and other medical equipment to thousands of customers every single day meeting their needs and making life easier.

 

Quick Stats on PharmEasy
Founder Dharmil Sheth, Dr Dhaval Shah
Year Founded 2014
Origin Bangalore, India
No. of Employees 1,623
Company Type Private
Market Cap Rs 26,336.15 Crore (2021)
Annual Revenue $ 86.75 Million (2020)
Net Income/ Profit $ 5.6 Billion (2021)


Products and Services by PharmEasy

SWOT Analysis of PharmEasy - PharmEasy Facebook Cover Image

               (PharmEasy Facebook Cover Image, Source: Facebook)

  • Devices & Lab Tests
  • Personal Care 
  • Nutrition and Fitness Supplements 
  • Ayurvedic Care 
  • Homecare
  • Baby & Mom Care


Competitors of PharmEasy

  • Ranger Health
  • Myra Medicines
  • Hello Heart
  • Brown Packet

Now that we understand the company’s core business, let’s dive into the SWOT analysis of PharmEasy. 


SWOT Analysis of PharmEasy

SWOT stands for strengths, weaknesses, opportunities, and strengths. So, a SWOT analysis is a technique to assess these four important aspects of the businesses. 

Companies can use SWOT Analysis to make the most of what the businesses have got, to the organization’s best advantage. And you can reduce the chances of failure by understanding what the business is lacking, and eliminating hazards that would otherwise catch your unawareness. 

SWOT Analysis of PharmEasy - SWOT Infographics of PharmEasy

Let’s first start by analyzing the strength of PharmEasy from the SWOT analysis of PharmEasy.

Strengths of PharmEasy

  • Increasing Internet Technology: With the expansion and increased usage of the internet by the people its become so convenient for many to purchase things online. Especially after the pandemic and many businesses having shifted online, it’s an advantage for businesses like PharmEasy which was being run online since the beginning. 

Bonus Tip: As you can see the power of digital marketing in today’s world, making yourself profound in different types of digital marketing skills will benefit you in future with great opportunities, to learn digital marketing skills enrol in IIDE 13+ short term courses in digital marketing and start upgrading your skill-set as soon as possible. 

  • Increase Use of Mobile Health Solution: With the introduction of mobile health operating systems and apps, information can now be shared with a move of the fingertips. As mobile health becomes more widespread, solutions are rapidly increasing.
  • Ease of Payment: Convenient and less time-consuming payment methods.
  • Less Costly: Physical store pharmacies have higher costs; because of many intermediaries being involved in the sale of pharmaceutical medicines. Online pharmacies will cater in bulk by selling online; thus reducing the cost of medicines.
  • Convenient and User-Friendly: PharmEasy allows the users to purchase the medicine just at the touch of the fingertip, the complete process is very convenient and user-friendly.


Weaknesses of PharmEasy

  • Non-Trained Pharmacist: With things turning online there are also other untrustworthy people starting up their businesses which makes people question the authenticity of authentic providers/users. 
  • Unsafe Delivery of Medicines: It should be made sure that the ordered medicine or product is delivered in time following all the health and safety requirements.
  • The Belief of Fake & Low-Quality Medicines: Since the prices are made affordable for people, customers tend to think that discount means compromising quality.


Opportunities for PharmEasy

  • Increase in Market Value: High rise in the pharmaceutical market from 20 billion dollars to $35 billion. One of the major reasons for this is the pandemic. 
  • Medical Requirements at Single Platform: Consumers are examining online pharmacy as a single place accessing all their medical requirements from medicine purchases to lab tests and medical consulting. 
  • Demand for Healthcare Services: Increase in lifestyle diseases like diabetes and cardiovascular disorders, especially among senior citizens. The expected increase in demand for healthcare services, particularly pharmaceuticals, is due to the growth within the senior population demographic. 
  • Internet: The number of people who use the internet is growing all over the world. This means that PharmEasy has the opportunity to expand its online presence by interacting with its customers more through the internet.


Threats to PharmEasy

  • Increasing Competition Between Online & Retail: The industry’s competition has increased, putting downward pressure on prices. If PharmEasy does not adjust to the price changes, it may lose market share.
  • Unstructured Grievance Handling System: Unpredictability of consumer purchasing behaviour. 
  • Political Instability: Additional governmental regulations and tax policies. Political indecision in the country can be an obstacle to business, causing performance to suffer and additional costs to be incurred.

This ends our comprehensive SWOT analysis of PharmEasy. Let us conclude our learning below.

Digital-Marketing-MasterClass

To Conclude

PharmEasy is a fast-growing online medical care and medicine delivery platform. In the SWOT Analysis of PharmEasy, we can understand that the company is growing rapidly and is working passionately to make things easier for others and provide their services generously and has successfully built their trust among the customers. 

In this rapidly changing and developing world digital marketing is of utmost importance, being well equipped and versed in the field is a must for all marketing enthusiasts. If you are interested in discovering more and upskilling, check out IIDE’s 3 Month Advanced Online Digital Marketing Course to know more.

We hope this blog on the SWOT analysis of PharmEasy has given you a good insight into the company’s strengths, weaknesses, opportunities and threats.

If you enjoy in-depth company research just like the SWOT analysis of PharmEasy, check out our IIDE Knowledge portal for more fascinating case studies.

Thank you for taking the time to read this, and do share your thoughts on this case study of the SWOT analysis of PharmEasy in the comments section below.

Lead Trainer & Head of Learning & Development at IIDE

Leads the Learning & Development segment at IIDE. He is a Content Marketing Expert and has trained 6000+ students and working professionals on various topics of Digital Marketing. He has been a guest speaker at prominent colleges in India including IIMs......[Read full bio]

Aditya Shastri

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *