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The e-commerce industry is now dominating the world. For every purchase or item, there are tons of e-commerce apps available on which customers can seek the best deals and prices. In the e-pharma industry, there are a plethora of online pharmacy apps by which customers can place orders, and the medicines will get delivered to their doorstep. As online medicine delivery apps continue to expand, there is a need for medicine price comparison app development. Entrepreneurs are finding demand to develop medicine price comparison apps to fulfill user requirements of finding the best deals and prices of their needed medicines.

In the healthcare industry, medicine prices keep on fluctuating across pharmacies. Thus, the medicine price comparison app development will help buyers get medicines at the best rates. With the rise of medical mobile app development, we will also be witnessing the need to create medicine price comparison apps parallelly. In this article, we will go through all the major aspects of medicine price comparison app development. Let’s begin with the basics.

What is a Medical Price Comparison App?

Medical price comparison apps are in huge demand among users. It acts as a tool by which users can compare the prices of different medicines listed on various e-pharmacy apps. In medical price comparison app development, various advanced technologies and data aggregation are employed. These technologies provide users with a comprehensive and user-friendly platform for price comparison. The users can compare prices across various retailers, brands, and platforms.

This allows consumers to make informed purchasing decisions and enable business decisions to stay ahead of the competition. It acts as a personal shopping assistant and helps users by scanning the digital aisles of different e-pharmacy apps to find the best deals available. This is the overall functionality of a Price Comparison app.

The sophisticated algorithms and real-time updates within the app accumulate data from various retailers, brands, and platforms.

Why invest in a Medical Price Comparison App?

Here are the major reasons to invest in Medical Price Comparison Apps:

·  Nearly 25% of Americans prefer to use price comparison apps while researching what to purchase

·  In the first month of 2022, almost 37 million U.S consumers downloaded price comparison apps

·  The global price comparison market is expected to grow annually at a whopping CAGR from 2023 to 2030.

Read More: How to Build a Healthcare App Like Myaster?

Features to Be Considered in Medicine Price Comparison App Development:

Here, we have outlined the key features that are essential to developing a medicine price comparison app. The features are different for users and the admin portal. Let’s know about the features:

Medicine Price Comparison App Features

User Panel Features:

a. Personalized User Profiles:

Users should be able to create personalized profiles. They must be able to save their preferences for the medicines, check order history, and receive curated recommendations for a personalized price comparison experience.

b. Search and Filter Options:

Search is probably the first feature by which the users start interacting with your app. You must implement a robust search feature. With a powerful search, the users can find specific products to compare prices easily. Furthermore, the advanced filtering options based on categories, brands, or prices will make the results better.

c. Wishlist and Favourites:

This feature will allow users to make a wishlist or mark their favorite products. Thus, decision-making becomes easier for the users and provides a convenient way to keep track of the chosen items.

d. Price Alerts:

The users should be able to set prices for certain medicines. If the prices drop, they will receive notifications. It will ensure that the customers never miss out on potential savings.

e. Review and Rating System:

You can implement the reviews and ratings system in the medicine price comparison app development as well. It will help the community by providing reviews and ratings for the products, fostering transparency, and aiding others in making informed purchase decisions.

f.  Product Browsing:

Users enjoy a hassle-free browsing experience, exploring a diverse range of medicines and comparing the prices of them. They can conveniently filter items based on categories and compare prices across various e-pharmacy apps.

Visit Also: How Blockchain Transforms the Healthcare Sector?

Administrative Panel Features:

a. User Management:

The admin could oversee the user profiles and activities and address any issues related to the flow of users.

b. Analytics and Reporting:

Comprehensive analytics solutions give admins information about user behavior, popular items, and general app performance. These analytics enable data-driven decisions for future developments.

c. User Support and Query Resolution:

The users should be able to get support for their queries on a dedicated portal. The support tickets raised by the users will allow the admin to promptly address the queries, ensuring a higher level of customer satisfaction.

d. Marketing and Promotions:

The admin has complete control over marketing initiatives and promotional campaigns. It includes managing discounts, lucrative offers, personalized campaigns, and collaborating on new e-pharmacy apps to improve the visibility of the app.

e. Security and Compliance Management:

The admin is responsible for the security of users’ personal and financial data. The admin has to take care of security measures to protect user data and ensure that the app complies with relevant regulations and standards.

f.  User Engagement Strategies:

The admin would have the necessary features to create and execute strategies to improve user engagement, like push notifications, loyalty programs, and exclusive promotions. These strategies will foster a vibrant and active user community.

g. Continuous App Optimization:

The admin is responsible for assessing the feedback given by the users and checking the app’s performance. The admin should also research market trends to implement newer updates and optimizations. This ongoing process ensures the app remains competitive and user-friendly.

h. Dashboard Management:

The admin would be able to see all the activities of the users, monitor their status, and analyze their membership on the app. With dashboard management, the admin could ensure efficient application functioning.

i.  Service Modules:

To improve the overall user experience, the administrator manages a variety of service modules, such as product listings, promotional offers, shipping services, alerts, price rules, and more.

j.  Notification Modules:

The administrator is in charge of all notifications, including those related to offer confirmations, payment status, and product delivery, ensuring that consumers are kept up to date during their contact with the app.

Check out More: How to Develop AI Mental Health Assistant App?

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Medicine Price Comparison App Development Process:

Here is a complete process of how to develop an app for medicine price comparison. These are the comprehensive steps:

a. Identify your Target Audience and Define Objectives:

You have to begin by clearly outlining the goals of your medicine price comparison app and identifying the right target audience to focus on. If you want to meet your target audience’s expectations, it is crucial to understand user needs and preferences.

b. Market Research and Competitor Analysis:

You must conduct extensive market research to identify new emerging trends, issues, and opportunities. You can also check the existing medicine price comparison apps to determine their USPs, strengths, and pain points. The research will help you position your app differently.

c. Hire a Mobile App Development Company:

You must hire mobile app developers who have prior experience and expertise in developing e-pharmacy apps and apps of similar kinds. The mobile app developers will help you in implementing even the most complex features and functionalities with ease. They would also be aware of the newer technologies for developing a high-performing and secure app. Thus, you must leverage mobile app development services for your medicine price comparison mobile app development.

d. Design:

The design team will create highly attractive and visually appealing screens for your app. They have to ensure that the design is simple yet elegant and attractive to motivate users to board the app and start engaging.

e. Development:

When the designs are ready, the front-end developers have to ensure that the app works responsively on all devices and screens. They have to ensure that the users can interact with the app seamlessly. The backend developers are responsible for implementing all the features and functionalities mentioned in the scope of work.

f.  Testing:

The QA engineers have to ensure that there are no persisting issues or bugs on the app. They have to check the application holistically for every possible user scenario and identify any issues on the app. The testers also check the app for performance and security.

g. Deployment:

Once the QA engineers give the sign-off, the app is ready to deploy on the cloud infrastructure. The developers have to make sure to back up the data before moving to the cloud.

Recommended Read: Healthcare App Development Benefits

Cost to Develop Medicine Price Comparison App:

Various factors affect the price of medicine price comparison app development. The major influencing factors are

·  Complexity of the app,

·  User interface and user experience design

·  Data aggregation and integration

·  Mobile platforms and devices

·  Security measures

·  Backend development

·  Third-party integrations

·  Location of the Development Team

·  Experience of the Development Team

Among all these factors, the location of the development team significantly impacts the development costs. If you take medical mobile app development services from companies based in North America or Eastern Europe, they will charge you hourly rates of $80-$120 per hour. However, you can get the same quality development services from Southeast Asian countries at $25-$40 per hour. In countries like India, you can get high-quality development services at highly competitive rates.

Revenue Models:

Choosing the right revenue model is pivotal for the sustainability of the app. Here are the different revenue streams possible for the medicine price comparison app:

Revenue Models of Medicine Price Comparison App

a. Subscription Fee:

You can charge upfront costs for users to use your app through a subscription fee. In this model, they have to pay either monthly, quarterly, half-yearly, or annual fees to use the app. You have to ensure that the app offers high functionality and utility to compel users to pay for it.

b. In-App Advertising:

In-app advertising is the most common way of making money through a mobile app. You can allow brands to advertise on your app. However, you must ensure that only relevant brands can display ads on your app. Also, the ads shouldn’t be overwhelming, else the users will get frustrated and abandon your app.

c. Affiliate Marketing:

Affiliate marketing is another common method that can be made through a mobile app. You can allow certain content creators to partner with brands and affiliate with them on your mobile app.

Read Also: How to Develop a Health Monitoring App?

Technologies Use in Medicine Price Comparison App Development:

PurposeDescription
Backend DevelopmentDjango, Node.js, PHP,
Frontend DevelopmentReact, Angular, Vue.js
DatabasePostgreSQL, MongoDB, MySQL
Cloud ServicesAWS or GCP
API IntegrationsAmazon Product Advertising API,
SearchElasticsearch
PaymentStripe, PayPal
Version ControlGIT

Wrapping Up:

In this article, we have gone through all the major aspects of the development of medicine price comparison apps. The healthcare industry is witnessing huge growth through e-pharmacy apps. With so many e-pharmacy apps available in the market, users are looking for medicine price comparison apps for the best deals and offers.

At Octal IT Solutions, we can help you build a medicine price comparison app with advanced features and functionalities. Our expert mobile app developers have vast experience in medicine app development. Let us know your requirements.

Visit Also: How to Develop Medicine Ordering App?

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THE AUTHOR
Managing Director
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Arun G Goyal is a tech enthusiast and experienced writer. He's known for his insightful blog posts, where he shares his expertise gained from years in the tech industry. Arun shares his knowledge and insights through engaging blog posts, making him a respected figure in the field.

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