e-Pharmacy to Provide Growth Opportunities for Pharma Companies and Last Mile Access of Medicines to Patients, Finds Frost & Sullivan

Business Wire India
The Federation of Indian Chambers of Commerce and Industry (FICCI) — an apex business organization — in association with Frost & Sullivan, a leading growth and strategy consulting firm, announced the launch of a whitepaper titled ‘‘e-Pharmacy in India — Last Mile Access of Medicines” in the presence of Government dignitaries and the concerned stakeholders on July 25th, 2016 at New Delhi.
 
The whitepaper was released by Shri K. B. Aggarwal, Additional Secretary (Food and Drugs), and Ministry of Health & Family Welfare.
 
The launch was followed by an intense panel discussion on the importance of the concept of e-Pharmacies and the deliberations on the need of guidelines / policies to ensure legitimate players delivering the benefits of the model to consumers, thereby, enabling wider access to medicines and improving public health. The panel’s participants included officials from the Ministry of Health & Family Welfare, Central Drugs Standard Control Organization, World Health Organization (WHO), and consumer activists. The event witnessed an engaging discussion between the concerned stakeholders of the Government as well as the industry.
 
The whitepaper highlighted the need for improving access to quality medicines to even the remotest part of the country in order to address the key challenges in India — growing population, changing lifestyles, and increasing health hazards.
 
Frost & Sullivan prepared the whitepaper post exhaustive research and consultation with various stakeholders along with inputs from FICCI. Commenting on the event, Dr. Suhasini M., Consultant, Transformational Health (Healthcare) Practice, Frost & Sullivan, said, “Conditions like diabetes, hypertension, obesity, etc. require patients to regularly use medications. Poor adherence to medical treatment not only compromises patient’s health but also increases mortality, thereby impacting the economic growth of the country. Access to medicines remains a key challenge in India, which is primarily driven by unequal distribution of pharmacies in urban and rural India and inability of retail pharmacies to store a wide range of products, forcing consumers to visit multiple stores for procuring all the required medicines.”
 
She further highlighted, “With the use of technology and access to inventory of multiple stores at a time, e-Pharmacies can aggregate supplies, making otherwise-hard-to-find medicines available to consumers across the country.”
 
The objective of this whitepaper is to understand the benefits of the e-Pharmacy model for the consumers, the industry, and the nation, and analyze its challenges and the policy level changes needed to address the concerns around the model.
 
About Frost & Sullivan
 
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the Global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
 
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About Federation of Indian Chambers of Commerce and Industry (FICCI)
 
Established in 1927, FICCI is the largest and oldest apex business organization in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and emergence as one of the most rapidly growing global economies.
 
A non-government, not-for-profit organization, FICCI is the voice of India’s business and industry. From influencing policy to encouraging debate, engaging with policy makers and civil society, FICCI articulates the views and concerns of the industry. It serves its members from the Indian private and public corporate sectors and multinational companies, drawing its strength from diverse regional chambers of commerce and industry across states, reaching out to over 2,50,000 companies.
 
FICCI provides a platform for networking and consensus building within and across sectors and is the first port of call for Indian industries, policy makers, and the international business community.
 
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