Product Management

Certification Program
Assignment: Competitor
Edit Master text styles Name: Abhishek Wanjari
Analysis Email: abhishekrajivwanjari@gmail.com
Industry: Online Medicine
 1. List major players in the online medicine
space

1. Medplus
2. Netmeds
3. 1mg
4. Pharmaearth 3

5. Myra Medicines
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 2. Introduction of PharmEasy

PharmEasy is an India-based online pharmacy that allows users to buy products such
as prescription medicines and personal care.

PharmEasy is a Private company. Dharmil Sheth is the Co-Founder & CEO of

PharmEasy and has an approval rating of 100 from Owler members. think investments,
TPG, and temasek are some of PharmEasy's investors. PharmEasy's top competitor is
MedPlus, led by Madhukar Gangadi, who is their Founder & CEO. PharmEasy has
2,549 followers on Owler and 99K follower on Facebook.

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 3. Identify direct and indirect
competitors of PharmEasy (2 each)
A. Direct competitor
1. MedPlus
2. Netmeds

B. Indirect Competitors
1. Practo
2. Mfine
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 4. Choose any 1 direct competitor to
proceed further

1Mg -1mg is an India-based online pharmacy that retails

prescription medicines, fitness supplements and OTC
health products for patients.

1mg's headquarters is in Gurugram, Haryana. 1mg has

been a Acquisition Pending of Tata Sons Private Limited
since May 2021. 1mg has received a total of $125.4M in 6

funding.
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 5. Compare the company backgrounds of 1Mg and PharmEasy. You should think on these
points: goals, mission, strategies, the current number of employees, investment funding,
revenue details, founders’ profiles, acquisitions, target market etc

Information PharmEasy 1Mg

Founder Dharmil Sheth Prashant Tandon

Founded in 2015 2015

Parent Company API Holdings Sequoia Capital

No. of Employees 1000+ Employees 750+

Total Funding $ 329 M $176 M

No. of Investors 18(Series D) 13

7

Acquisition 1(Medlife) 2(Mediangels, Dawailelo)

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Company Online Doctor Diagnostic Healthcare Healthcare Ayurvedic Alternate Homeopat Insurance
Order Consultati Tests Device Subscripti Products Brands hy
on on Suggestion Products
s

PharmEasy Yes Yes Yes No No Yes No No No

Yes Yes Yes Yes Yes Yes Yes Yes Yes

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 6. Compare the business models (Comparative
Analysis) of 1Mg and PharmEasy.

PharmEasy

Business and Business Value Added Geographical Target Revenue Revenue Model
Products Model Services Reach Customers

1. Prescribed 1.Franchise + 1. Health 1.Deliver the Urban family 1. Average 1. Sponsored

Medicines Partnership Experts products at especially in order value – Listing.
2. Lab Testes Advice Blogs 22000+_ pincode south India and 965 rs 2. Advertisemen
3. No – English. in more than 1000 English speaking 2. Average t
Prescriptions – 2. Digital cities. people. order 3. Commission.
Free storage of frequency – 4. Highmargin
consultations health 1.50 from on own
4. Over-the- records. users in ain brands. 9
counter drug month.
5. Private Labels 3. Market share
i.e. Everhurb, – 25%
LivEasy
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 1Mg

Business and Business Value Added Geographical Target Revenue Revenue Model
Products Model Services Reach Customers

1.Partnership 1. Health 1. 25M+ order Urban family 1. Average 1. Sponsored

1. Subscription Experts delivered in especially in north order value – Listing.
based sells. advice blogs 1000+ cities India and English 792 rs 2. Advertisemen
2. Promote 2. Digital speaking people. 2. Average t
Substitutes storage of order 3. Commission.
Medicines health frequency – 4. Highmargin
3. Lab tests. records. 1.5=40 from on own
4. Paid 3. Insurance users in a brands.
Consultations Support month.
5. Over-the- 3. Market share
counter drug – 18%
6. Private labels –
1Mg Ayush, 10
1Mglabs

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 Shifts in the business model - PharmEasy

• PharmEasy was started to deliver medicine online but after seeing the market
demand, it started providing Lab Tests and Health Package to the customers.
• Offline pharmacies retail stores (brick and mortal retail pharmacies) are currently
responsible for 99% of the medicine sales per year, with E-Pharmacy contributing to
only 1 % of the total medicine sale in India (Source) The biggest reason for this is the
most of the pharmacies stores sells the medicine without any prescriptions and even
the customer feels expensive choice to consultant the doctors.
• PharmEasy started providing free consultations to the customers needs to select the
medicines and the PharmEasy will provide free doctor consultation before delivering
the medicine.

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 7. Compare the strengths and weaknesses

PharmEasy

Strengths Weakness

1. The largest network 1. Less control on delivery agents.

2.Strong pricing control and high margin on some products
because of its own healthcare product brands.
3. Strong pool of satisfied customers where 43.20%
customers visit the webpage direct on the sites.
2. There are many large and existing healthcare product
brands are available so need to face a strong competition
with them.
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3. Need to improve SEO and presence on social media.
More aggressive digital marketing campaigns.

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 1Mg

Strengths Weakness

1. Good network with insurance providers 1. Relatively a new market entrant.

2. Strong financial backing because of Sequoia Capital. 2. Need to increase cities coverage and set up team to
reduce delivery time.

3. Top player in homeopathy product and Strong SEO over 3. New entrant in less lucrative market.
the internet. 13
 Competitive Analysis - Performance
Specification 1Mg PharmEasy
Products In 5+ Space In 3+ Space
Return Policy 7 Days 30 Days
Delivery Time 2 to 7 Days 1 to 7 Days
App Store Downloads (Google Playstore) 10M+ 5M+
App Store Ratings (Google Playstore) 4.3 Stars 4.4 Stars
App Features Search medicines from more than 34 Search healthcare products from 10 categories,
categories, book appointments, Pill reminder Refills reminder.
Social Media Profile 203K Facebook 99K Facebook

No. of website visitors per day Overall visits per month – 9426242, Average Overrall visits per month – 9426242, Average
visit duration – 4.40 minutes, Page visits – visit duration – 4.40 minutes, Page visits –
2.762, bounce rate – 60.37 %Over 2.762, bounce rate – 60.37 %

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Alexa ranks 1,352 3.04 3,147 4.10
In global internet engagement daily time on site. In global internet engagement daily time on site.

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Leader boards on IOS and Pay store #2 on play store and #3 on IOS in Medical #1 on playstore and #4 on IOS in Medical
category. Category.
 8. Prediction – Future Initiaves

1. PharmEasy acquired Medlife, they have become the largest competitor in ePharmacy. Their combined market become more
than 45% with the largest pool of doctors, labs, and pharmacies. Now, it can reduce the delivery time to 1 day or even shorter.
Netmeds is acquired by Ril and Amazon has launched Amazon Pharmacy. Now, online pharmacy players will have to face a
strong competition.
2. To compete with strong financial backing companies, 1Mg will have to set up teams from scratchto reach the new cities and
deliver the products faster in the existing cities. They will also have to work on cutting the delivery cost.
3. Now, to add new customer and improve the retention rate, it may start approaching the customers in different ways. It may
add pet products as well as may add pet counselor together with the existing products. They may start concentrating not only
on humans healthcare products but also on humans beloved pet animals products. This strategy may also help them to get
hold in the rural area market as well.
4. It may also release the application in the local language to add a new group of customer.

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