The New Pharmacy Way

The Questions and the Challenges

Pharmaceutical e-commerce does have its downsides.

Ordering medication online without face-to-face interaction, which in the case of pharmacies is an interaction with a specifically educated and licensed healthcare professional, means advice on the use of a product or potential warnings for certain types of patients will not be provided, not on a case-by-case, personal basis. 

Moreover, as in any field, there are illegal online pharmacies which do not adhere to the ethics of the medical and pharmaceutical profession and will sell medicine and other products which have not been tested, are counterfeit or can be directly harmful to a person. While there are ongoing significant attempts by lawmakers to combat this and eliminate illegal online pharmacy businesses, any e-commerce is by its nature global and therefore subject to different laws and regulations across borders. 

Aside from potential issues with the products purchased, there are also concerns about the privacy of a customer’s information, both personal and financial. Data theft and online fraud continue to boom right alongside e-commerce itself and e-pharmacies with weak or faulty cybersecurity can be subject to online criminals.

Due to all this, it is always advised that a customer take great care when choosing an e-pharmacy.

The High-Tech Future of Healthcare

The use of artificial intelligence and IoT – Internet of Things, the name for the online network of devices that communicate and exchange data and can include anything from your vehicle to your roof’s solar panels and your home’s refrigerator, smart lighting for your glucose measuring device – is growing in the pharmaceutical sector. The development of new practices and new technologies as well as updated versions of those currently in use will continue to rise and e-pharmacies will continue to develop as well, increasing the speed and ease with which customers can interact with them.

The outlook is good, when you know that online ordering of medication can reduce the possibility of human error and provide designated healthcare professionals with easier and quicker access to a patient’s medical history/health background. Improved software will not only ensure foolproof verification of prescriptions but also weed out potential counterfeit prescriptions and attempts at fraud. This means there will be a greater focus on user-oriented e-pharmacies, reducing the need for customers to re-enter all their data into a system when switching from one online pharmacy to another.

Data projections are also very much in favour of digital pharmacy trends. The revenue from online pharmacies is expected to reach over 31 billion USD in 2023, and over 52 billion USD by 2027.

That being said, the future of retail pharmacy does not necessarily include the “death” of brick-and-mortar pharmacies. In emergencies, people still visit their nearest physical pharmacy and major hospitals will retain their physical drug stores. Many people, especially older generations, have a far greater level of trust in traditional pharmacies than in online ones.

Therefore, your local drug store will still exist in the years to come, but it will have its business capacity reduced. And as with e-commerce in general, a collaboration between brick-and-mortar and online counterparts is always more beneficial than competition. Many thriving online businesses also have a physical presence and pharmacies, despite current digital pharmacy trends, will probably choose to do the same.

The revenue from online pharmacies is expected to reach over 31 billion USD in 2023, and over 52 billion USD by 2027.

E-Pharmacy Tips for Healthcare Providers

A user-friendly platform is key: a customer needs to be able to easily find the products they desire and then purchase them with as few clicks of the mouse or taps on the screen as possible. Multiple delivery options are always a good business practice, especially if express or same-day delivery can be provided. 

Since E-pharmacy deals with people with health conditions, often serious or sensitive, sensitivity and openness in communication are a must: if a customer feels comfortable while interacting with the platform and feels their privacy is being respected, they will come back again, especially if they received not only the product they came for but also advice on its use from a healthcare professional on the other side of the channel.

Security and privacy, in general, are paramount: not only the privacy of a customer’s personal and medical data but also their payment information. Sharing data with third-party providers should be avoided, and cybersecurity should be at the top of the priority list, protecting both the E-pharmacy and the customers from online fraud and data theft.

E-pharmacies are definitely not only the future of pharmacy but also its present. Looking at current pharmacy trends, it is clear that the increased shift to online services, accelerated but not caused by the COVID-19 pandemic, will continue, especially with people from all age groups availing themselves of the benefits of online commerce.

While there are certain areas of digital pharmacy business that need firmer regulation – curtailing unethical practices and fraud, ensuring data privacy – the convenience and benefits that e-pharmacies provide to both patients and healthcare providers are many, and are expected to only increase in the near future.