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 r&d partners globally. This segment is said to be growing at over 15% CAGR and currently at 8bil USD within South East Asia.
“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 and worry about competing with their own stores. Online first ePharmacies have been successful in larger markets in Asia, eg Pharmeasy and 1mg in India and Ali Health and JD Health in China. There is expected consolidation of this segment in South East Asia.
About Gainhealth Pte Ltd:
Gainhealth is a direct to consumer and high growth omnichannel health and wellness platform. Its key management team have indepth experience in wholesale pharma, digital marketing, and online healthcare services. The company is vertically integrated with licenced clinic with pharmacy, online self-branded ecommerce portals, and product placements on regional ecommerce portals eg Lazada, Shopee and Foodpanda. Gainhealth is positioned to cover the South East Asian markets with a data driven approach to gather customer health profiles into a disease management platform and provide personalised customer engagement in niche chronic conditions and targeted product placements.