Best Growing Pharmacy Startups will be discussed in this article. In 2022, the pharmaceutical market hit new heights, bringing in $1.48 trillion. Upward revenue trends are anticipated to persist through 2023.
There has been a sharp increase in the number of pharmaceutical startups as a result of shifting healthcare environments and the introduction of new technologies like machine learning and artificial intelligence. Some of the top pharmaceutical startups to watch in 2023 have been compiled by us.
Top 20 Best Growing Pharmacy Startups In 2023
In this article, you can know about Pharmacy Startups here are the details below;
1. Fullscript
- 5-year growth in searches: 455%
- Growth of searches is exponential.
- founded in 2011
- Location: Canada’s Ottawa
- $267M in funding (private equity)
What they do: Fullscript is an online platform that gives practitioners of integrative and functional medicine a complete solution for prescribing and dispensing high-quality supplements and other natural health products. For tracking patient prescriptions, placing product orders, and gaining access to healthcare resources, the platform provides an intuitive user interface. Fullscript is a well-liked option for practitioners wishing to improve the rate of patient care and the effectiveness of their practices because it also offers compliance support and product fulfillment services.
2. PharmEasy
- 5-year rise in searches: 533%
- Growth of searches is exponential.
- founded in 2015
- Location: India’s Mumbai
- Financed using debt, $1.6 billion
What they do: PharmEasy is a digital health firm that aims to streamline Indian healthcare. The firm has established a reliable supply chain through a number of alliances and suppliers that enables customers to obtain medication, tests, consultations, and healthcare supplies from accredited pharmacies and clinics. On their website, they claim to have 80,000+ drugstore partners and a presence in more than 1,000 Indian cities.
3. Alto Pharmacy
- 5-year increase in searches: 558%
- Growth of searches is exponential.
- founded in 2015
- Location: California, San Francisco
- $560M in funding (Series E)
What they do: Alto Pharmacy is an online pharmacy that offers a cutting-edge, individualized shopping experience. The platform delivers a range of usefulness, such as free delivery, prescription monitoring, and round-the-clock assistance from qualified pharmacists. With the help of Alto Pharmacy’s user-friendly online platform and app, it’s simple to manage prescriptions and get high-quality care while relaxing in one’s own home.
4. MRM Health
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- founded in 2020
- Location: Belgium, Ghent
- Budget: $17.1 million (Grant)
What they do: MRM Health is a biotech business that specializes in therapies based on the microbiome. Their unique approach strives to create Optimized Consortia by fusing particular microbial strains. Furthermore, a single drug ingredient is produced using a special production and optimization procedure. In 2020, as part of their partnership with DuPont Nutrition & Biosciences, MRM Health got $14M. This is another Pharmacy Startups. Also check Helium 10 Alternatives
5. EyeNetra
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- Founded in 2011
- In Cambridge, Massachusetts
- $7.1M in funding (Series A)
What they do: EyeNetra works to improve accessibility and convenience for eye tests. The business sells an autorefractor, a handheld phoropter, and a digital lensometer as part of their Netra kit. In addition, they provide an internet gateway for monitoring and documenting user readings. According to EyeNetra, its products are in use in 133 nations.
6. Capsule
- 5-year rise in searches: 75%
- Growth of searches is exponential.
- founded in 2016
- New York, New York is the location.
- $570M in funding (Series D)
What they do: Capsule is a new digital pharmacy that sends prescription drugs right to consumers’ front doors. The platform provides an easy-to-use software for managing prescriptions, along with tools for transferring already-written scripts, planning refills, and corresponding with pharmacists. To make the pharmacy experience more convenient and user-friendly, Capsule also provides competitive pricing, free same-day delivery in a few areas, and individualized support. This is another Pharmacy Startups.
7. Tricog Health
- 500% increase in search volume over the past five years
- Growth status of searches: regular
- founded in 2014
- Singapore, Singapore is where.
- $20 million (Series C)
What they do: Tricog Health is a company that offers distant clinics virtual cardiology services using predictive healthcare analytics. The startup’s InstaECG tool is helping to decrease cardiac fatalities. Their website claims that it enables them to recognize more than 200 heart problems across numerous hospitals and clinics. In March 2020, Tricog Health secured $10.5M in Series B investment.
8. Lyndra Therapeutics
- 5-year increase in searches: 566%
- Growth of searches is exponential.
- founded in 2015
- In Watertown, Massachusetts
- $163.3M in funding (Series C)
What they do: Lyndra Therapeutics is a pharmaceutical business that seeks to create drugs with a longer half-life so that patients won’t need to take them as frequently. Their objective is to assist patients in following difficult-to-remember medications. A Series C round of funding for Lyndra Therapeutics just raised $60.5M.
9. EpiEndo
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- founded in 2014
- Location: Iceland’s Reykjavik
- $33.3M in funding (Series A)
What they do: EpiEndo is a pharmaceutical start-up that creates medications that improve the epithelial barrier. The company’s mission is to assist in the treatment of chronic respiratory disorders. Orally ingestible macrolide candidate NCEs have been created by EpiEndo. They function as treatments that affect the course of chronic obstructive pulmonary disease. In August 2021, the firm raised $23.3M in Series A investment.
10. Eagle Genomics
- 5-year increase in searches: 300%
- Growth of searches is exponential.
- founded in 2008
- Cambridge, United Kingdom is the location.
- Funding: $39.9M (Unknown Series)
What they do: Eagle Genomics, an enterprise software solutions provider, wants to provide a platform for sharing assets obtained from scientific data. In order to develop medications, the startup is attempting to build a platform-driven environment where researchers and businesses can access, share, and use microbiome data. Eagle Genomics won the Business Weekly 2021 awards’ AI Champion honor. This is another Pharmacy Startups.
11. Minoryx Therapeutics
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- founded in 2011
- Location: Spain’s Barcelona
- $143.9M in funding (Series C)
What they do: Minoryx Therapeutics specializes in the discovery and development of medicines for severe illnesses of the central nervous system. The startup is now concentrating on leriglitazone, a selective PPAR gamma agonist, as its innovative medicine. The clinical-stage medication is anticipated to treat a number of rare CNS illnesses. Minoryx Therapeutics received $51M in Series C investment in May 2021.
12. Axial Therapeutics
- 5-year increase in searches: 1900%
- Growth of searches is exponential.
- founded in 2016
- Woburn, Massachusetts
- $115.9M in funding (Series C)
What they do: Axial Therapeutics is a biotech business that creates medications for neurological diseases and disorders by using the microbiome. Their research focuses on the creation of small molecule medications that affect the pathogenesis, manifestations, and progression of numerous neurological illnesses by focusing on gut microbiota. Axial Therapeutics recently received $37.25M in Series C investment. This is another Pharmacy Startups.
13. ROME Therapeutics
- 5-year rise in searches: -100%
- Growth status of searches: Peaked
- Founded in 2020
- In Cambridge, Massachusetts
- $127M in funding (Series B)
What they do: Rome Therapeutics uses the repeatome to discover new treatments for cancer and autoimmune disorders. According to the business, specialized therapy can focus on the 60% of the human genome that contains repeated nucleic acid sequences. In September 2021, Section 32 provided $77M in Series B funding to Rome Therapeutics.
14. 3Z Pharmaceuticals
- 5-year rise in searches: 16%
- Growth status of searches: regular
- Founded in 2008
- Location: Iceland’s Reykjavik
- Investment: $3.7M (Seed)
What they do: 3Z Pharmaceuticals focuses on CNS illnesses and finds new medication candidates by using behavioral genetics and disease modeling. The business also focuses on drug repositioning, which involves investigating already-licensed medications to identify potential new medicinal applications. 3Z Pharmaceuticals raised $2M in its most recent round of startup funding.
15. AceCann
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- Founded in 2019
- Portugal’s Lisboa is where.
- $15 million (for seeds)
What they do: In Europe, AceCann offers medical cannabis products. They begin the process of making these products with organic farming. The harvested material is then prepared for extraction into medical cannabis products. The startup also investigates novel applications for medical marijuana. Recently, $15M in seed money was given to AceCann. This is another Pharmacy Startups.
16. MAYD Group
- 5-year rise in searches: 172%
- Growth of searches is exponential.
- Founded in 2021
- Location: Germany, Hamburg
- $43.2M in funding (Series A)
What they do: As a provider of medication management solutions, MAYD enables consumers to discover information about medical items rapidly. To handle localized deliveries, the business collaborates with neighborhood pharmacies. Series A funding for MAYD totaled $30M, provided by 468 Capital and others.
17. ReCode Therapeutics
- Search volume has increased by 600% during the past five years.
- Growth status of searches: regular
- founded in 2015
- Place: Dallas, Texas
- Funding: $422M (Unknown Series)
What they do: ReCode Therapeutics is a biotech business that creates treatments for respiratory disorders that affect the course of the disease. This company, which specializes in integrated genetic treatments, is currently concentrating on cystic fibrosis and primary ciliary dyskinesia. A $80M series B investment round was recently closed by ReCode Therapeutics.
18. Truepill
- 5-year increase in searches: 330%
- Growth status of searches: Peaked
- founded in 2016
- Place: Hayward, California
- $255.4M in funding (Series D)
What they do: Truepill is a digital health platform that offers complete solutions for the creation, distribution, and administration of healthcare products and services that are delivered directly to patients. The platform provides a range of benefits, including bespoke packaging and labeling, pharmacy fulfillment, and telemedicine, among others. Truepill is a well-liked option for healthcare providers, payers, and other companies aiming to increase their digital health services and enhance patient access to care due to its scalable and adaptable solutions. This is another Pharmacy Startups.
19. Capital Rx
- 5-year increase in searches: 1600%
- Growth of searches is exponential.
- Founded in 2017
- New York, New York
- $203 million (Series C)
What they do: For managing prescription drug benefits, Capital Rx, a pharmacy benefit management (PBM) platform, offers a clear and affordable option. For managing formularies, claims processing, and member interaction, the platform delivers cutting-edge pricing models and a user-friendly interface. Due to its innovative PBM strategy, Capital Rx has been recognized as a market disruptor and has assisted organizations in reducing healthcare expenses while enhancing member care.
20. Exo Therapeutics
- 5-year rise in searches: 0%
- Growth status of searches: Peaked
- Founded in 2020
- In Cambridge, Massachusetts
- $103M in funding (Series B)
What they do: Exo Therapeutics focuses on using druggable enzymes as a small molecule drug discovery and development firm. In oncology, the startup wants to control enzyme activity. A pipeline of potent therapeutic candidates that bind exosites is being developed with the help of their ExoSight platform. This facilitates the precise therapeutic effect by helping to rewire enzyme activity. Recently, Exo Therapeutics secured $78M in Series B funding. This is another Pharmacy Startups.
Conclusion
This finishes our list of the leading pharmacy startups that are now altering healthcare. A new wave of biopharmaceutical developments has been brought about by the emergence of AI-powered diagnostics, clinical trials, and drug development platforms. It’s safe to argue that as long as there is a need for new medications, vaccines, and treatments, there will be a large number of new pharmaceutical firms.
