SINGAPORE, April 26, 2021 /PRNewswire/ — While riding the expanding digital economy wave during the pandemic within the fast growing ‘direct to consumer ePharmacy space’ in South East Asia over the last year, Singapore based Gainhealth is now entering development of self-branded vitamins, minerals and food supplements with several global R&D partners.
The segment is said to be growing at over 15% CAGR and currently stands at US$8 billion in South East Asia alone.
“Preventive health has become important for families. Chronic diseases and weight gain were seen as risk factors for lowered immunity and managing these remotely went beyond only regular supply of prescription medication. With awareness on benefits of minerals like Zinc, probiotics, Vitamin C and D for reducing risk from COVID, we are noticing the rapid expansion of this segment. We are happy to add to our senior management team, an experienced Pharma professional who has regional experience in launching new products and innovation,” shared the founder and ceo, Padmaja Sakthi.
Existing retail pharmacy chains have been slow to progress online and have been plagued with delivery delays, and struggle with selecting product placements while worrying about competing with their own stores.
Online first ePharmacies meanwhile have been successful in larger markets in Asia, with names including Pharmeasy and 1mg in India, and Ali Health and JD Health in China all doing well.
The future for now in the region is, it appears, supplemental.
