By Ayo Alonge
A fast growing Nigerian health tech startup, Field Intelligence, has announced its expansion into Rivers, Edo, Kaduna, Kano, Enugu, Delta and Kwara States in Nigeria, and Eldoret, Mombasa, Kisumu and Naivasha in Kenya.
Independent and franchise pharmacies can now access 1,000 unique products, inventory planning, subscription delivery and Pay-As-You-Sell on the Shelf Lifeplatform. The expansion will build on Field Intelligence’s over 700 existing pharmacy membership, which has served over 1.4 million patients to accelerate quality frontline healthcare across Africa.
Speaking on the company’s expansion, in a communique made available on the company’s website, the Chief Executive, Michael Moreland, explained that “a rapid uptake across such a range of African markets is a testament to its potential as a solution for pharmacies across the continent. Rural and urban, East and West, we have found Shelf Life helping pharmacies overcome a shared set of challenges and seize new opportunities for growth by improving access for their patients.
“The digital-first and asset-light approach have enabled the startup to build out its pan-African solution and take the lead as the digital healthcare market gains momentum in Africa. As well as definitive signs for scale and impact in pharmaceutical distribution and management, Nigeria has 4,500 registered pharmacies and over 15,000 drugstores, whilst Kenya has 6,000 registered pharmacies and chemists.”
The expansion comes after a year of rapid growth in sales and Shelf Life membership subscriptions, with Nigeria increasing by 47% and 65% in Kenya, selling over 586,950 products in 63 different product categories. This included anticipated demand for anti-malaria and contraceptive products which sold over 87,000 products in these categories.
In its current operating markets, digital health in Nigeria is set to reach a revenue volume of over US$1.3billion by 2025, with a 22.3 percent annual growth rate. Similarly, Kenya is also due to see a positive trajectory, with a 19.97 percent annual growth rate, resulting in a market volume of US$649.73million by 2025.
Field launched Shelf Life in 2017 to solve the inventory problem cutting across Africa’s $75billion retail pharmacy market. Its technology is radically simple for easy adoption in complex environments and effectively scalable, without the barriers of borders and languages.