5 Things in ePharmacy You Need to Know This Friday 10/02/23
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5 Things in ePharmacy You Need to Know This Friday 10/02/23
New Research [🇬🇧]
British ePharmacies Continue to Disrupt the Market with Post-Pandemic Growth
Chris Pilsbury, Senior Director of UK Market Intelligence at IQVIA, claims that ePharmacies have continued to disrupt and affect the market despite pandemic expansion, with the usage of ePrescriptions growing. The pandemic has accelerated a three-year increase in usage of the ePrescription service (EPS). Prior to the pandemic, 2.8% of meds were distributed online in the 12 months prior to October 2019, while in the 12 months prior to October 2022, online prescriptions accounted for 5.7% of all items distributed.
Read More: Chemist + Druggist
New Tech [🇮🇳]
How Will the Rollout of 5G Affect Indian ePharmacies?
With the introduction of 5G, both established and emerging businesses in the healthcare industry will switch to digital consultations, which will promote the use of digital health. A few improvements from major stakeholders will be made to the traditional care system. The founder of Digital Health Academy and Health Parliament, who is also a former advisor to India's Union Health Minister, claims that smaller pharmacy shops would be significantly impacted in terms of closure as Indian ePharmacies add more services.
Read More: The Economics Times
ePrescription [🇯🇵]
What Impact Will the Introduction of ePrescription Have on Japanese ePharmacies?
With the introduction of ePrescriptions in Japan, patient data will be maintained centrally along with prescription histories. ePharmacy sales will also gain traction. According to ePharmacy startups, ePharmacies, which now mainly sell OTCs, will gain power by concentrating on markets where it is simple to meet the demands of patients. ePharmacies are also appropriate for patients who don't match the current healthcare system, including those in their 20s who can't visit hospitals and pharmacies during regular work hours.
Read More: Newswitch [article in Japanese]. Google Translate in English here.
eCommerce [🇳🇴]
The Norwegian Pharmacy Art Committee Proposes That ePharmacies Can be Pure Online Players With No Physical Presence
The Norwegian Pharmacy Act Committee proposes to remove the necessity that pharmacies need to be open to the public physically in order to operate online as well. Elisabeth Haug, Managing Director of the ePharmacy Farmasiet, claims that this will boost competition, encourage the emergence of new kinds of pharmacies, and be in customers' best interests. The ePharmacy supports the new pharmacy laws and thinks they ought to have been in place a long time ago.
Read More: Dagens Medisin [article in German]. Google Translate in English here.
Editor’s Choice [🇺🇸]
Forbes: “Amazon’s RxPass Adds To Its Pharmacy Footprint, But Doesn’t Really Compete With Mark Cuban’s Cost Plus Drug Company”
By including RxPass to its offering, Amazon is stepping up its game against Mark Cuban's Cost Plus Drug Company (MCCPDC). However, its inadequacies imply that it isn't yet a serious rival. MCCPDC offers more meds than RxPass. Additionally, RxPass does not take Medicare or Medicaid, although Amazon Pharmacy and MCCPDC do. Despite their efforts to improve the meds pricing system, both Amazon and MCCPDC still fall short. Furthermore, the MCCPDC still has a number of restrictions that keep it from completely upending the pharma supply chain.
Read More: Forbes
Manufacturers & Retailers Hiring Now:
Discover actively recruiting positions in the ePharmacy Industry below:
Digital Transformation Lead, Sanofi [🇮🇪]
More info: LinkedIn
eCommerce Business Analyst, Dr. Max [🇨🇿]
More info: LinkedIn
Digital Lead, Bayer [🇩🇪]
More info: LinkedIn
BEE & Digital Medical Lead, Novartis [🇨🇿]
More info: LinkedIn
Purchasing Analyst, Shop Apotheke [🇳🇱]
More info: LinkedIn
Quiz: Are you an ePharmacy Wizard?
Every week a new trivia question will be asked to you regarding general facts related to the Pharmaceutical sector!
When were the first pharmacies established in Baghdad?
600-900
901-1200
1201-1500
1501-1800
Scroll down to the end of this email to reveal the answer.
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The answer to this week’s quiz is: 600-900. The first pharmaceutical stores or pharmacies in Baghdad were founded in 754, during the Islamic Golden Age, by the Abbasid Caliphate. These pharmacies were state-regulated by the ninth century.