5 Things in ePharmacy You Need to Know This Friday 18/11/22
5 Things in ePharmacy You Need to Know This Friday 18/11/22
Expansion [🇮🇳]
Indian ePharmacy 1MG is Focusing on High-margin Growth Areas Like Diagnostics & Business Partnerships
A year after acquiring a majority stake in ePharmacy platform 1MG, Tata Group is utilizing the group's influence to grow their footprint in the diagnostics market, increase their share of corporate tie-ups, and ramp up ePharmacy capabilities. According to the firm's co-founder and CTO, their goal for this year is to expand the entire company by 80-85% year on year. One of their main areas of attention will be rapid medication delivery. Tata 1MG is also currently testing an omnichannel diagnostics strategy.
Read More: YourStory
Omnichannel [🇨🇳]
JD Health Latest Pet Pharmacy & Hospital Debuts in China Providing an Online One-stop Destination
In the Chinese market for pet health, JD Health introduced its pet care solution under the new brand name "JD Pet Health", which combines pharmacy and medical services for pets as two primary businesses. When shopping online, owners can count on product orders being delivered in as little as a few minutes thanks to JD's logistics. JD Health’s CEO, emphasized that the business aims to provide a one-stop platform for pet health that encourages market expansion potential for additional pet brands and offline partners.
Read More: JD Health
Legislation [🇳🇱]
A Member of the Dutch Parliament Questions ePharmacies
Minister Kuipers (VWS) has received parliamentary inquiries from member Maarten Hijink (SP) over health insurers VGZ's 'free of charge' advertising of certain ePharmacy chains. The SP member in the parliament wants to know if the minister thinks that health insurance shouldn't encourage the growth of ePharmacies. Additionally, the SP is interested in learning how the minister plans to protect local pharmacies from competing against ePharmacies. The quality of pharmaceutical treatment is currently threatened by ePharmacies, according to the Royal Dutch Pharmacists Association (KNMP).
Read More: KNMP [article in Dutch]. Google Translate in English here.
eCommerce [🇺🇸]
Americans Are Switching to ePharmacies for their Convenience and Easy Access to Affordable Meds
As ePharmacies are gaining ground in the US, the sector is anticipated to increase from $51.8B in 2020 to $145.8B in 2026, with an average CAGR of roughly 18.8%. According to the ASOP Global Foundation, as of 2021, 42% of all Americans have used ePharmacy services. The National Association of Boards of Pharmacy has accredited 88 ePharmacies in the US as of right now. In addition, a poll by the ASOP Global Foundation found that 56% of customers use online pharmacies because of their low costs.
Read More: PharmNews [article in Korean]. Google Translate in English here.
Editor’s Choice [🇧🇷]
Brazilian ePharmacies Surged by 52% in 12-Month Period ending in September 2022 vs September 2021
Data from IQVIA show that in the most recent 12-month period ending in September, online sales in the Brazilian ePharmacy industry flourished by 52.2%. Prescription meds were the biggest contributors to this rise, with revenues of R$ 3.35B and growth of 63.4%. The category currently accounts for 51% of sales. Additionally, according to the data 159.5 million units were bought through digital platforms, of which 61.9 million were prescription meds and 97.6 million were OTCs.
Read More: Panorama Farmaceutico
Manufacturers & Retailers Hiring Now:
Discover actively recruiting positions in the ePharmacy Industry below:
eCommerce Sales, J&J [🇯🇵]
More info: LinkedIn
Digital Specialist Cropscience, Bayer [🇪🇸]
More info: LinkedIn
eCommerce Manager, Perrigo [🇩🇪]
More info: LinkedIn
Digital Marketing & Experience Manager, GSK [🇬🇧]
More info: LinkedIn
Group CRM Lead, Dr. Max [🇨🇿]
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!
What were medicine men?
Witch-doctors
Samans
Central figures in the tribal system
All of the above
Scroll down to the end of this email to reveal the answer.
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The answer to this week’s quiz is: All of the above. Medicine men (also witch-doctors, shamans) maintained the health of their tribe by gathering and distributing herbs, performing minor surgical procedures, providing medical advice, and supernatural treatments such as charms, spells, and amulets to ward off evil spirits.