On-demand delivery services are the future. Mobile apps, wearables, and other portable devices are being extensively used for personal and commercial goals. The growing role of technology has further increased the demand for such services.
During the pandemic, some industries oriented to eCommerce and mCommerce started thriving like never before. Customers realized the importance of online ordering and home delivery of several essential and non-essential commodities like food, groceries, medicines, and even liquor.
In one of our previous blogs, we discussed how you can create a liquor app like Drizly. Today, we are zeroing in on the healthcare sector. If you are planning to launch a medicine delivery app like CVS Pharmacy, then this is the piece for you! Stay tuned to know more.
In this blog
- On-demand medicine delivery market: Facts and statistics
- Why invest in a pharmacy app like CVS Pharmacy?
- Top features of a medicine home delivery app
- How to build a medicine delivery app like CVS Pharmacy?
- Frequently Asked Questions
On-demand medicine delivery market: Facts and statistics
Analyzing Numbers, statistics, and facts can help us understand the market better. In this section, we have compiled some statistics to give you a perspective on the e-pharmacy market and outline the growth and scope of the industry.
Go through the facts listed below and get a better understanding of the online medicine delivery industry:
- Revenue in the online pharmacy segment is estimated to reach 31.64 billion US dollars in 2023.
- The revenue will grow at a CAGR (Compound Annual Growth Rate) of 13.40 percent between 2023 and 2027.
- At the expected CAGR, the projected market volume of the pharmacy industry will be 52.33 billion US dollars by 2027.
- User penetration in the e-pharmacy industry is expected to be 21.65 percent in 2023. This number is expected to hit 29.04 percent by 2027.
- The average revenue per user (ARPU) in the online medicine delivery industry is expected to amount to 19.03 US dollars.
- In global comparison, most revenue in the online pharmacy segment will be generated in China and will amount to around 8,447 million US dollars in 2023.
- In the US, revenue in the online pharmacy segment is projected to reach 5.66 billion US dollars in 2023.
- Growing at a CAGR of 10.98 percent, the US e-pharmacy market is projected to reach a projected volume of 8.58 billion US dollars by 2027.
- In India, the online pharmacy market was worth 25.50 billion Indian Rupees in the year 2021.
- The Indian e-pharmacy industry is expected to grow at a CAGR of 22.20 percent, amounting to 89.47 billion Indian Rupees in 2027.
All the numbers discussed above hint at the growth of the online pharmacy industry in every country. Therefore, we can safely assume that this is a great time to launch a pharmacy app of your own and join the competition.
Why invest in a pharmacy app like CVS Pharmacy?
Launching an online pharmacy business like CVS Pharmacy may not be as easy as it sounds. It requires owners and stakeholders to deal with a ton of legal and federal constraints and other challenges. From getting necessary clearances and certifications to ensuring the safety, privacy, and security of customers, a lot of effort goes into laying the groundwork for the business.
So, why invest in a pharmacy app at all? The simple answer is that challenges are a part and parcel of every business, and it is a high-potential industry that can ensure long-term profits. Once you overcome the obstacles, there is no looking back as the benefits often outweigh the difficulties.
Here’s why investing in a pharmacy app can be beneficial for you:
Keeping up with competitive changes
Consumer behavior has transcended dramatically over the last few years. More and more people are demanding on-demand delivery of supplies than ever. The pandemic contributed to the amplification of this trend and forced businesses to go online and offer easy shopping and delivery options to customers. To keep up with the changing times and competition, launching a pharmacy app has become imperative.
Enhanced customer experience
Apps ensure one-click access to endless stores and products. This makes shopping easier for users while giving them endless options under one roof. Whether your app is a pharmacy aggregator or a personalized medicine delivery app for your store, it will help enhance the experience for the end users. Handy access to all kinds of medicines will help them get their meds on time and ultimately be rewarding for your business-consumer relationship and growth.
Increased staff efficiency
Apps not only ease life for customers. Having a business powered by a pharmacy app enables owners to streamline their inventory and make their operations digitally efficient. Limited human intervention leaves hardly any room for error and blunders. One-click access to customer info and medical history also makes the job easier for your staff. Online payments, automated billing, loyalty management, etc., ensure ease of doing business.
Better customer loyalty and conversions
Websites can be fussy. Getting around the app and accessing products is easier on the apps. Moreover, app customers are more likely to return to your store as they have the application installed on their phones. This leads to more customer engagement and better user loyalty. Customers do not migrate to competitor platforms that easily, thereby ensuring better conversions and sales.
Leveraging endless user data
Launching a native application for your pharmacy store can be highly beneficial. It gives you access to device features and significant user data. Collecting user-related data points like name, age, gender, location, shopping behavior, product preferences, etc., can help you understand them better. This also paves the way for data-backed business decisions and helps businesses personalize the experience of each and every customer.
Top features of a medicine home delivery app
From getting on board with the app to redeeming loyalty points, a customer’s purchase journey is defined by the feature of the app. While the final list of app features depends on a number of factors like exact business and delivery model, location and targeted audience, app type, etc., some features remain significant for all medicine delivery apps.
Here is a list of essential and advanced features that you should consider adding to your online pharmacy app:
- User-friendly theme and design
- Frictionless UI and UX
- Easy onboarding and sign-up for users (via Facebook, Email, etc.)
- Intuitive product search and filter
- Uploading prescription and details
- Easy order placement and checkout
- Multiple payment and delivery options
- Automated billing and invoice handling
- Real-time order tracking and updates
- Video consultation with medical professionals
- Listing options for third-party sellers
- Inventory management feature for sellers
- Supplier management dashboard for app owners
- Consent form for user acknowledgment
- Loyalty program, referral, and coupon support
- Rating, review, and feedback collection
- In-app chat and user support option
- Sending and scheduling push messages
- User data collection and analytics
- Support for multiple languages
Not all the features listed above will apply to all kinds of pharmacy apps. However, depending on your personalized goals, you can use this as a checklist to target and add features to your online medicine delivery app. CVS pharmacy app contains several of these features that make it a popular choice among customers.
How to build a medicine delivery app like CVS Pharmacy?
By now, you know about the scope of the online pharmacy market, why it is a beneficial idea, and what features can help you shape the perfect app. Now it is time to get to the crux of it. Stay tuned and get answers to the question above.
Create and launch your own app like CVS Pharmacy and take your e-pharma business to new heights. Your guide to pharmacy app development is as follows:
Research and find your business model
Having a straightforward goal is a good start, but it is not enough. You know you want an app like CVS Pharmacy. But one CVS Pharmacy already exists. Therefore, try to create your own unique brand image while retaining the best of your competitors and industry leaders.
This is where the importance of research comes into play. It is the first step towards any successful business. So, start with studying the market, competitors, and targeted audience. Once you have enough information, you can go ahead and finalize a viable app and business model.
This can be one among the following:
- Standalone pharmacy app: If you already own a pharmacy store (offline or online) and you desire to take it to an app, then this is the way to go. Create a mobile-friendly store for your pharmacy and sell directly to your customers. Enjoy complete control and create a unique brand image.
- Pharmacy aggregator app: Allow different drugstores to register and partner with your platform. List multiple sellers and allow customers to compare their offerings and prices and choose their preferred product or seller accordingly. Bridge the gap between buyers and sellers and get a commission for every sale.
- Drug finder app: Instead of buying from one store, give customers the freedom to get any medicine anytime from around their vicinity. Let customers add drugs from different sellers and deliver them to their doorstep. Earn commission from sellers and levy delivery and convenience fees on sellers to earn revenue.
Once your business and delivery model are finalized, you can go ahead and streamline the logistics accordingly. At this stage, you can also start conducting surveys and collecting feedback on your business ideas from prospective customers and stakeholders.
Get medical and legal permits
Legal compliances and permits are not news for pharmacy business owners. As discussed above, opening an e-pharmacy store requires businesses to get necessary clearances, permissions, and certifications. Consider this as one of the most important steps and take all the legal and expert help required to put everything in place.
Abide by the regional and international laws that apply to your business. Additionally, make sure that your users’ sensitive data is safeguarded as they will entrust your app with their personal details and medical information. Be transparent in your approach, take consent where necessary, and clearly declare the terms and conditions of usage.
Suggested Read: All you need to know about GDPR and other regulatory policies
Develop your pharmacy app
Once pre-production goals are accomplished, you can get into development. Just to be on the safer side and avoid wastage of resources, you can also start with creating app wireframes and prototypes. Chalk out the app architecture and help your stakeholders visualize the app design, layout, and features. Collect feedback and improve your design and feature assets accordingly.
Once finalized, you can start developing your app. We recommend a no-code medicine delivery app builder like AppMySite that enables you to create feature-rich and app store-ready apps in minutes. Here, you can design, personalize, and develop your app without any prior experience or first-hand knowledge of a development technology stack.
The app builder is intuitive enough to guide you through as you build your Android and iOS apps and add desired features with point-and-click options. Alternatively, you can also hire custom app development agencies or mobilize your tech team to build an app with a low code tool. However, these methods can be more time and resource consuming.
Therefore, we advise you to keep your time and budget constraints in mind as you proceed. Once your app builds are ready, you can publish them on the Google Play Store and Apple App Store. Start promoting your app among your potential and existing customers and grow your business.
Still confused about the exact steps to developing an app? Do not worry. You can refer to our guide and learn how to create an app. The guide covers all the important steps and should help you get started. However, remember to take variables like your personalized goals, location of development, budget, etc., into consideration.
Launch your own app with our online pharmacy app development solution and make your journey from web to mobile easier. If you have any questions regarding app development, you can drop a line in the comment section, and we will get back to you soon. While you are at it, we also encourage you to explore our other blogs and read on a range of topics.
Frequently asked questions
Is the instant medicine delivery business profitable?
The shorter answer is yes. While success and profits depend on varied circumstances, launching a pharmacy app can be a viable venture. The e-pharmacy industry is constantly growing, and app usage is also increasing with the passing minute. Therefore, launching a medicine delivery app can be favorable.
What are the technologies used by CVS Pharmacy app?
CVS Pharmacy is a renowned app in the US market. It is powered by more than 40 technologies. According to the information available on the web, some of the technologies include HTML5, jQuery, Salesforce CRM, Quickbase, Force Management, and Microsoft Dynamics CRM, among others. It uses a bunch of automation, artificial intelligence, and machine learning tools to ensure robust performance and smooth user experience.
Which are some of the top pharmacy apps?
Different pharmacy apps are popular in different countries. For example, CVS Pharmacy, RiteAid, NowRx, etc., are more popular in the US. Other names include Practo, 1MG, Medlife, NetMeds, and MetAdvisor, among others. These apps are operational in different countries and enable customers to order medicines online.
Which is the best online pharmacy app development solution?
AppMySite’s pharmacy app creator is the best pharmacy app development solution available online. It has all that you need to create a feature-rich and premium pharmacy app for Android and iOS users. Create a pharmacy aggregator app or turn your own drug store into a mobile app, the choice is yours. The platform has you covered for all kinds of app development.
How can I create a pharmacy app like CVS Pharmacy without coding?
Building an app with a no-code DIY app builder can help you save time, effort, and resources. You can subscribe to AppMySite’s no-code app creator and build a medicine delivery app like CVS Pharmacy without writing a single line of code. Everything from designing to adding inventory and features like push notifications, chat, monetization, etc., can be managed under one roof. You can build and launch cutting-edge apps on the Google Play and Apple App Store.