‘We Hope To Be A One-stop Solution For Health’
On the future of the business:
The global online pharmacy sector is estimated to grow at a CAGR 17.7 per cent and reach a valuation of $128 billion by 2023. The online pharmacy sector in India too is well on the way to capture 5-15 per cent of the total market share. As online pharmacies remove inefficiencies and provide a smoother and more reliable experience to their customers, they are bound to grow.
On niche business areas:
Yes, in the healthcare sector, multiple niches are forming at the moment. There are online pharmacies, organisations focusing on diagnostics and lab tests, doctor consultation (both online and offline), etc.
On the relevance of the company ten years hence:
At Myra, we are on a mission to make healthcare more affordable for everyone by redefining how a traditional pharma supply chain works, by reducing inefficiencies using technology and data science. We strongly believe that affordable and reliable healthcare should be available to everyone in the country.
Ten years from now, we hope to become a one-stop healthcare solution for everyone, catering to any and every need pertaining to the health of our customers.
On the impact of new-age ideas like Artificial Intelligence and Blockchain:
Technology is key for all online pharmacies, since without it, removing supply chain inefficiencies that currently plague the system would be a huge challenge.
At Myra, the product at the core is a technology and data science driven platform, built to remove these inefficiencies in the supply chain and operations.
Moreover, the predictive modeling at the heart of the entire system helps Myra ensure that the medicines customers are ordering are always in stock and ready to be shipped. We have also developed a specialised EPR called Prisim for order tracking, dispatch, user management and more. When an order is checked out the ERP decides which order leaves immediately and which ones can wait.
