Business

Amazon and the future of the pharmaceutical market

One of the biggest trends that accelerated during the pandemic was the growth of telemedicine as well as pharmacy delivery, with Amazon recently taking its expected big leap in this space.

3 min read

This article has been translated from our English edition.

Amazon and the future of the pharmaceutical market
Amazon and the future of the pharmaceutical market

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  • Amazon will continue to gain market share, especially for generic customers who pay cash at a low price.
  • Smaller independent pharmacies will continue to survive by providing more sensitive, specialized customer service for the full spectrum of patient care.

The main trends that accelerated during the pandemic included the growth of telemedicine as well as the delivery of pharmacies Amazon Recently, investors have taken their big expected move in this space, pouring millions into digital pharmacy startups. With all of these seismic market shifts, 2021 looks set to be another exciting year for the $ 400 billion pharmacy market.

Predictions for the pharmaceutical market

What can we expect for the future of the pharmaceutical market in 2021? Insights and predictions from Cary Breese, CEO and co-founder of NowRx, a technology-based pharmacy that delivers same-day, same-time prescription drugs:

Image: Depositphotos.com

1) Amazon will continue to gain market share, especially for low-cost, cash-paying generic customers. However, you will have problems with customer service in terms of coordination between doctors, patients, and insurance companies for much of the pharmacy where much more tact and technology is required.

2) Smaller independent pharmacies will continue to survive by providing more sensitive and specialized customer service for the full spectrum of patient care. Pharmacies are the local health centers for most families and pharmacists and have a high level of authority and respect in the lives of patients. This continues.

3) Big drugstore chains have to adapt or go under in a blockbuster way. In order to avoid this train accident, they would have to develop critical features such as: A) automatic, fast and reliable delivery; B) more convenient interactions with customers, C) convenient delivery on the same day with no additional fees (free same day delivery) and D) better coordination with insurance companies and doctors to minimize friction losses and increase transparency.

It has to be the decade-long model of reaching physical locations and standing in line, not knowing whether or not your insurance company will pay for the drug, or whether there are better and cheaper alternatives, and careful coordination with doctors regarding refills turned.

The new standard for an agile, automated, technology-based virtual pharmacy that delivers to your doorstep has arrived and is available nationwide.

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