Lalith had to make a tough choice when his mother was diagnosed with breast cancer two years ago. Along with the diagnosis, the Pune oncologist he’d met had handed him a business card that led him to a representative of the pharma major Pfizer. Since some of the prescribed medicines were not available in the hospital pharmacy, the doctor had offered a convenient solution—call the pharma representative and get the medicine delivered in just 24 hours. This seemed easy, but Lalith had to decide between buying just the medicine and a free cancer care service in the comfort of his home.
Buy 1 Get 1: Healthcare at Home’s formula for specialty drug delivery
High margins on expensive drugs can not only bring pharmacy and healthcare to the sickbed, they can also make them affordable. A tempting business, but is the Indian market ready for this leap?
The specialty drugs segment is growing so fast it’s expected to make up about half of the market in the next two years
The margins in high-value and low-volume specialty drugs delivery are bringing a third of the revenue and more patients for Healthcare at Home
There’s a way for the current Indian in-home healthcare market to add $500 million to deliver specialty drugs via patient assistance programmes
However, it is quite a challenging job to bag contracts and also convince the patient to stay on a drug regimen