All business models change with time to address consumer demands, meet market fluidity, incorporate digital advancements, and usually flow with the trends.
The market trends influence all the sectors with new changes in business models, company structures, infrastructures used, and other influencing factors.
The pharmacy ⚕ business is no new to such advancements and innovative visions. Similar to other business sectors, many pharmacies (especially in developed countries) have come up with innovations to go digital and simplify the healthcare business.
Whether with or without telehealth facilities, digital pharmacies can help consumers with prescriptions and delivery of medicines at their doorsteps without having to go to pharmacies.
We have compiled a list of the top 14 digital pharmacy startups to watch out for in 2023.
Let’s Start!
Top 14 Digital Pharmacy Startups in 2023
1. Fatima Online Pharmacy
Fatima Online Pharmacy, also known as Online Pharmacy, is the very first online pharmacy ⚕ functioning in Peshawar, Pakistan, at least it claims to be. This company aims to serve people from rural Pakistan by delivering medicines to their houses.
Fatima claims to have instituted qualified professional pharmacists with doctorates in M. Phil (Pharmacology) and Doctor of Pharmacy (Pharm-D). The company also provides medicines at lower costs and significant discounts.
The pharmacy has extended its service in major cities of Pakistan like Karachi, Lahore, Islamabad, Khyber Pakhtunkhwa, and Peshawar within a year of its establishment.
Company Information:
- Company size: 501-1,000 employees
- Industry: Pharmaceutical Manufacturing & Online pharmacy
- Headquarters: Peshawar, Khyber Pakhtunkhwa, Pakistan
- Founder: Nazir Ahmed
- Founded: 2020
2. Shebika
Shebika is a network of online pharmacy and digital healthcare services accumulated into a single platform. The company aims to establish itself as the leading brand in Bangladesh to provide its customers with better healthcare and medicinal services at their doorsteps.
The company has the potential to lead the pharmaceutical and health care business in Bangladesh since they have a few competitors who can rival for the top spot.
They operate through an app to provide medicines and health services to treat our patients with preventive, curative, palliative, rehabilitation, and care.
Company information:
- Industry: Delivery, e-commerce, Medical Pharmaceutical
- Company size: 11-50 employees
- Headquarters: Gazipur, Dhaka, Bangladesh
- Founder: Saimum Rahman, Shanaws Mahamud
- Founded: 2018
3. InvestFarma
InvestFarma S/A is a unification platform in the pharmaceutical retail sector, with a professional structure and a differentiated management model.
In addition to the acquisitions of Redes Poupafarma (in 2018), Drogaria Estação and Drogaria Marcelo (in 2019), and, more recently, the online operation Farmadelivery (Oct/2020), the company has been developing its operations using modern management and technology tools.
The group bases its strategy on the integration and development of channels, emphasizing the full attention to health and well-being needs through an experience that allows the customer to save time and money.
Company Information:
- Industry: Retail
- Company size: 1,001-5,000 employees
- Headquarters: São Paulo, São Paulo
- Founder: Saimum Rahman, Shanaws Mahamud
- Founded: 2018
4. MEDS Apotek
MEDS Apotek delivers ordered medicines within hours in Stockholm and the same day in numerous parts of Sweden. The company has simplified purchasing prescribed drugs for yourself, anyone else, and even the pets via its mobile pharmacy.
Meds include every healthcare product required to stay healthy, and customers can order from dietary supplements to veterinary medicines and everything in between. The best part is the company delivers all over Sweden free of charge.
It not only sells products but also hosts incredible assistance and guidance portals for patients that require a recommendation to cure their diseases, both men and women.
Customers can place their order before 7:30 pm to get their products before 11: 00 am throughout Stockholm the next day.
Company Information:
- Company size: 201-500 employees
- Industry: Retail
- HQ: Västberga allé 32, Stockholm, Stockholm County 126 30, SE
- Founder: Adham Shawwaf, Joanna Elmes, Sofie Wernborg
- Founded: 2017
5. Apohem
Apohem is a Swedish company that provides every healthcare product and service from the common cold to AIDS, from makeup to skincare, wound care to intimate care, and vitamins and supplements.
The company also provides tips and advice on a range of healthcare matters. It has launched a digital retailer to facilitate customers with health and pharmaceuticals (pharmacy).
The company aims to advance and extend its healthcare services with retail, e-commerce (purchasing, development, and logistics), and pharmacy practice in Stockholm.
Company Information:
- Company size: 51-200 employees
- Industry: Retail
- Headquarters: Norra Stationsgatan, Stockholm, Stockholm County SE
- Founder: Johan Bergenheim
- Founded: 2017
👉 Read More: 10 Innovative food startup companies to watch out for in 2023
6. Hims & Hers Health
Hims & Hers Health, Inc., also known as Hims & Hers, is an innovative telehealth company aiming to build a virtual healthcare system and deliver quality medical care through licensed healthcare professionals.
The company aspires to provide services to customers on their demand and at a place of their convenience. Customers can enjoy thoughtfully crafted and curated healthcare and wellness products.
The brand’s main goal is to provide affordable health care, medicines, and treatments for ailments that influence their daily lives. The company offers separate portals for men and women under different domains (forhims.com & forhers.com).
Company Information:
- Company size: 251-500 employees
- Industry: Retail
- HQ: San Francisco, California, United States
- Founder: Andrew Dudum
- Founded: 2017
7. Ro
Ro delivers high-quality, affordable healthcare directly to patients without requiring insurance coverage. Thousands of chiropractic clinics, diagnostic labs, and pharmacies across the country are connected to Ro, the only company to provide seamless telehealth and in-home care.
Using Ro’s vertically integrated platform, an end-to-end healthcare experience can be provided, beginning with diagnosis, continuing with medication delivery, and continuing with ongoing care. With more than 8 million visits since its establishment, the company has facilitated digital healthcare in nearly every state in the US.
Other healthcare companies may use Ro’s patient-centric facets, including Workpath, the company’s in-home API, and Kit, diagnostic testing assistance.
According to Fast Company’s 2019 list of the most innovative companies, Ro ranks #2 in the wellness category.
Company Information:
- Company size: 251-500 employees
- Industry: Hospitals and Health Care
- HQ: San Francisco, California, United States
- Founder: Rob Schutz, Saman Rahmanian, Zachariah Reitano
- Founded: 2017
8. Netmeds.com
Netmeds.com is a full-fledged e-pharma portal offering Over the Counter (OTC) medicines, authenticated prescriptions, and other healthcare services and products to customers in Chennai, India.
The company claims to have served over 5.7 M customers in more than 670 places. Professional pharmacists regulate the orders/prescriptions for validity and dosages to dispense only appropriate medications.
Netmeds provides customers with over 70,000 pharmaceutical drugs for regular and recurring illnesses. In addition, the company also offers non-prescriptive wellness and healthcare products for suitable prices.
Company Information:
- Company size: 501-1,000 employees
- Industry: Wellness and Fitness Services
- Headquarters: Chennai, Tamil Nadu
- Founder: Pradeep Dadha
- Founded: 2015
9. LloydsDirect by LloydsPharmacy
LloydsDirect by LloydsPharmacy is a simple yet elegant online pharmacy based in London. It allows patients/customers to join the service providers through their website and access their services via mobile application.
Consumers should sign up and order their prescribed medicines via the mobile application, which is approved by the patient’s GP (community doctor in the UK). The company keeps track of the GPs in the UK, making it easier for approval.
The company delivers the medication at their doorsteps for free. Or, customers can pick their medicines by themselves, if they can or will. The application keeps track of patients’ medications and reminds them to take them on time and order if running low.
Company Information:
- Company size: 100-200 employees
- Industry: Other Healthcare Technology Systems
- Headquarters: 1 Westpoint Trading Estate, Alliance Road, London
- Parent Company: McKesson UK
- Founded: 2015
10. TATA 1mg
TATA 1mg isn’t the top dog in India’s online medical and healthcare business but has the potential to be the one in the future. TATA Digital by TATA Group has the resources and monetary backup to do wonders in the industry.
The company provides its customers with an online portal to browse the prescribed drugs using various search factors for easy location. The brand aims to provide accessible and affordable healthcare facilities to Indian people all over India.
Besides medicines and other healthcare products, the company also provides customers with professional assistance online and diagnostics to deliver price-effectiveness and transparency on lab tests.
Company Information:
- Industry: Delivery, e-commerce, healthcare, Medical Pharmaceutical
- Company size: 11-50 employees
- Headquarters: Gurgaon, Haryana, India
- Founder: Akash Deep Singhal, Anurag Mundhada, Era Dwivedi, Gaurav Agarwal, Prashant Tandon, Sameer Maheshwari, Vikas Chauhan. Now acquired by TATA Digital.
- Founded: 2015
11. Pharmeasy
PharmEasy is one of India’s best healthcare service providers and the most trusted prescribed medicine deliverers. The company helps customers connect with pharmacies and diagnostic centers to meet their vast medical requirements.
The company aims to revolutionize the entire pharma supply chain with complete digitization. They claim to have delivered medicines in over 100+ cities in India and counting.
Pharmeasy wants to help customers reduce drug dependencies and drug abuse by eradicating fake drugs that contribute 30% of the total drug volume in India. It seeks to help pharma companies by creating a feedback loop to produce better drugs to combat diseases like never before.
Company Information:
- Company size: over 6,100 employees
- Industry: Online pharmacy & medical store
- Headquarters: Lal Bahadur Shastri Marg, Mumbai, India
- Founder Dharmil Sheth, Dr. Dhaval Shah
- Founded: 2014
12. Healthwave Digital Pharmacy
Healthwave has a massive potential to become the leader of Ireland’s online medicine and healthcare services. It claims to be the first subscription pharmacy service in Ireland. The company targets patients needing regular medications, enroll them for monthly prescriptions and serves them with medicines on their doorsteps.
Customers can buy healthcare services and book them in advance from the company’s application. App users can purchase supplements and medicines for numerous diseases with assistance from a professional pharmacist.
Other services and products include different body cares, hair loss, health food, healthcare devices, and many more. Visit their site for in-depth browsing and analysis.
Company Information:
- Company size: 11-50 employees
- Industry: Pharmaceutical Manufacturing
- Headquarters: Dundrum Town Centre, Dublin 16
- Founders: Shane O’Sullivan
- Founded: 2013
13.PromoFarma by DocMorris
PromoFarma by DocMoris is an ecommerce platform that instantly connects consumers with the pharmacist and health care service providers. The brand has upped its game after Swiss group Zur Rose acquired the company in 2018.
Now the company aligns its goals with its associate companies and focuses on providing health care in a comprehensive and personalized way using digital applications and functionalities.
The company aims to provide its customers with Europe’s largest pool of health, beauty, and lifestyle products under a single marketplace. Its adaptability to the customer demands and market alterations is noteworthy.
Visit the brand’s website to experience the vastness of healthcare products and services from all over the globe.
Company Information:
- Company size: 51-200 employees
- Industry: Other Healthcare Technology Systems
- Headquarters: Barcelona, Catalonia
- Founders: Adrià Carulla, David Masó, José Miguel Pulido
- Founded: 2012
14. HealthKart
HealthKart is one of India’s fine e-commerce, healthcare, and fitness brands. It claims to be India’s no 1. Sports nutrition and vitamin brand.
The online shop presents customers with a range of healthcare and fitness products, including Ayurvedic medicines, nutrition supplements, hair & skin care products, weight loss & bodybuilding products, and other health-related entities.
The brand has collaborated with MuscleBlaze and HK Vitals, two big names in the healthcare industry. It offers authentic brands to set up their marketplace within the web portal, making it India’s possibly the largest health and nutrition-based virtual market.
Company information:
- Industry: E-Commerce, Healthcare, Retail, Manufacturing
- Company size: 501-1,000 employees
- Headquarters: Gurgaon, Haryana, India
- Founder: Sameer Maheshwari
- Founded: 2011
Conclusion: The impact of digital pharmacies in future..
Digital pharmacies in developed countries, where everything is connected and synchronized over the internet, can significantly impact the healthcare business. The impact might not be the same in other countries lacking the basic needs.
Let’s only consider the areas and countries with proper internet facilities. Digital pharmacies can become helpful to consumers who cannot physically visit hospitals and healthcare centers or pharmacies for checkups and medicines.
Digital pharmacies with telehealth have the potential to grow with time if they focus their business model on becoming more customer-centric.
Medicine deliveries on time, auto refill notifications, checkup reminders, medicine time notifications, and online doctor appointments can change the dynamics of the healthcare business.
