Tata 1mg Takes Lead Over PharmEasy in India's E-Pharmacy Market
Written by Arushi Sharma
The e-pharmacy landscape in India witnesses a shift as Tata 1mg claims the top spot with a 31% market share, surpassing PharmEasy, which dropped to 15%. Insights reveal fluctuations in market dynamics since early 2023, impacting key players' positions.
According to The Economic Times, Tata 1mg has clinched the top spot in India's e-pharmacy market, outstripping PharmEasy in gross merchandise value (GMV).
September 2023 data reveals Tata 1mg's market share surged to 31 per cent from 19 per cent in October 2022, while PharmEasy's share dropped to 15 per cent from about 33 per cent during the same period. PharmEasy's focus on profitability led to reduced marketing spend, influencing this shift.
Platforms like Flipkart Health Plus, Reliance-Netmeds, and Apollo have maintained a GMV share of 15-18 per cent, as per third-party research firm Redseer.
Industry insiders note a steady change in market dynamics since early 2023. PharmEasy's share dipped from 29 per cent in January to 20 per cent in May, while 1mg surged from 21 per cent to 27 per cent.
Tata 1mg's co-founder, Prashant Tandon, highlighted their concentrated focus on India, mentioning international opportunities in the future. Despite a 160 per cent increase in operating revenue to Rs 1,627 crore by March 31, 2023, Tata 1mg reported a doubled net loss at Rs 1,254.9 crore. Total revenue declined to Rs 1,633.9 crore, with total expenditure surging to Rs 2,893.6 crore.