After the pandemic, when people found it difficult to remain fit physically, hospital visits increased and became quite prominent. During this time, people got advised to stay indoors. Hence, with an app such as the on-demand pharmacy app, customers could virtually connect with medical professionals to discuss their ailments. They received assistance to get themselves cured. It simultaneously also provided them with the due assistance to order medicines and get them delivered within a flash to their doorstep. This went on to increase its popularity to a great extent, especially among those who wanted to digitize their pharmacy operations, thereupon leading to boosting its lucrative value to a great extent.
Today the industry thus has a very profitable prospect. It is slated to help the on-demand pharmacy market to bring in revenues of $249.9 billion in 2030. Hence, if you are a budding pharmacy business owner who plans to give wings to their dreams through a revenue-generating pharmacy delivery app in 2023, the article is for you.
It highlights the reasons you should develop the app, followed by the market stats to educate you on its overall lucrative prospect, followed by the steps that will help you in your medicine delivery app development journey.
So let's not waste any more time. Let's delve deep into the article to get hands-on with the profitable and revenue-generating world of the online pharmacy business.
Benefits of an Online Pharmacy Business
When you set out on the journey to digitize your pharmacy business. In other words, when you wish to transform from an offline to an online pharmacy business, you get yourself empowered with the benefits such as:
- Saves time by allowing customers to get the medicines directly delivered without the need to step out.
- Privacy gets maintained in online pharmacy apps when there may be illnesses that customers might find difficult to discuss otherwise in an offline store setup.
- Allows pharmacy businesses to gain a competitive edge by getting the support to boost their visibility and get their offerings known among a large percentage of consumers.
Global Market Stats for Online Pharmacy Business
Check out these attractive facts and figures to know about the nature of the online pharmacy business.
- Revenues generated in the online pharmacy segment stood at $27.60 billion in 2022.
- Growth in profits is to take place at a CAGR of 13.65% between 2022 to 2027.
- Projected market volume to become $52.33 billion in 2027.
- User penetration to grow by 29.04% by 2027.
- The market size volume was $60 billion in 2022.
- Revenue will be around $249.9 billion in 2030.
These numbers are enough to elucidate the profitable prospect of starting an online pharmacy business in 2023. As the year is about to close its curtains, digitizing your medicine delivery setup with an app will do wonders. Follow these steps in particular to gain a competitive edge.
How to Perform Medicine Delivery App Development?
When you embark on the journey of on demand pharmacy delivery app development services, adherence to some steps is extremely crucial. I have highlighted them in the lines below. Read them carefully to build a successful medicine delivery app.
Make App Relevant
There are three main segments for the app. They include customers, delivery drivers, and pharmacy stores. Each of them has its respective apps and features so the connection remains flexible.
Hence, when you are getting into this process make sure to include these features so that customers can easily order medicines.
Customer App Features
- Social media login
- Upload prescription
- Compare products
- Add to cart
- Schedule delivery
- Multiple payment options
- Push notifications
- In-app chat/call
- Rating and Review
Pharmacy Store Features
- Product info management
- Track order status
- Inventory management
- Order management
- Payment management
- Reports and analytics
Delivery Boy App Features
- Easy registration
- Set availability (On/Off)
- Accept/reject the order
- Push notifications
- Earning history
- Real-time tracking
- In-app chat/call
Know App Operations
It is important next to get an idea of the app operations. This will help you to ideate an app design that you need to formulate.
Here’s how the app works.
- The customer enters the app and adds their location details to get a list of pharmacies nearby and selects one that matches their preference.
- They tap on medicines and respective quantities and place orders.
- The store receives the order request and accepts it. They assign it to the delivery driver.
- The delivery driver reaches the store, picks up medicine, and gets going toward the customer’s location.
- The customer and delivery driver can track each other with the former being notified of the latter’s arrival.
- The delivery driver arrives, delivers medicines, and the customer provides a rating and review based on the service he/she got.
Make sure you know this so that you can ideate an app design strategy for the pharmacy app you develop.
Research on Different App Types
It is vital to research the different app types so that you have an idea and select one that is matching your business needs. Here are the different app types.
- Apps for pharmacy marketplaces to assist customers in ordering medicines from local pharmacies.
- Apps for online pharmacy stores to assist independent pharmacies to get their offerings known among a larger percentage of customers.
- Apps for pharmacy store chains so that sales get boosted alongside customer loyalty as well, side-by-side.
Let's now assess the cost of medicine delivery app development in 2023.
How Much Does Medicine Delivery App Development Cost?
When you set out on the journey to perform on-demand pharmacy delivery app development in 2023, alongside knowing the steps for app development, it is vital to assess the budget too.
Hence, if we want to get hands-on with the cost of medicine delivery app development, the estimated cost would be around $15,000 to $25,000.
This might however go up in case the app design is not user-friendly, features are not irrelevant, or in case you do not outsource on-demand pharmacy delivery app development services.
Therefore, make sure to get the task done offshore so that you can save on costs a great deal during app development.
Closing Words
The online pharmacy business and the profits associated with it are huge. In fact, according to statistics, the venture will bring in profits of $249.9 billion by 2030. In short, thus it is a good idea to get the app advantage. Some important steps need to be followed during the process, starting from research to outsourcing. If you are in the pursuit of doing so, in other words, if you are running an offline pharmacy store, and plan to digitize its operations in 2023, get in touch with a reliable pharmacy app development company today.
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