Field Intelligence, a Nigerian-based health tech startup that is digitizing the supply chain and transforming access to essential, life-saving medicine, has expanded to Eldoret, Mombasa, Kisumu and Naivasha, with its revolutionizing pharmaceutical platform-Shelf Life.
This expansion adds to Field Intelligence’s existing 700plus pharmacy membership, which has so far provided drugs to over 1.4 Million patients.
Pharmacies use the Shelf Life platform to supply drugs through its Pay-As-You-Sell programs, offering a cheaper option than seeking for working capital.
In Nigeria, the startup has expanded to Rivers, Edo, Kaduna, Kano, Enugu, Delta and Kwara States.
The Shelf Life platform, which launched in Nairobi in August 2018, enables independent and franchise pharmacies to access 1000 unique products, do inventory planning, subscription delivery and offer Pay-As-You-Sell capabilities.
Shelf Life membership has grown by 65% in Kenya, with pharmacies in both countries selling more than 586,950 products in 63 different product categories across the Shelf Life platform.
Some of the products available on the platform include contraceptives, anti-malaria drugs, supplements, cold and cough medicines, and PPEs.
Available figures indicate that Nigeria has 4,500 registered pharmacies and over 15,000 drugstores, whilst Kenya has 6,000 registered pharmacies and chemists.
Field Intelligence network targets
Field Intelligence aims to surpass 2,000 pharmacies and drugstores using Shelf Life by 2022 and 12,000 pharmacies on its network by 2025, four times larger than GouDam-the Chinese pharmacy chain, which is the largest in the world.
Using data to optimize predictions and identify irregularities in the market, Field Intelligence has met the demands for prescription and over the counter drugs in multiple markets despite recent critical global shortages.
Field Intelligence forecasts a revenue volume in Nigeria of over US$1.3billion by 2025, with a 22.31% annual growth rate. This is compared to a 19.97% annual growth rate in Kenya and a market volume of US$649.73million by 2025.
Michael Moreland, CEO of Field Intelligence, said Shelf Life’s rapid uptake is a testament to its potential as a solution for pharmacies across Africa.
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