Online pharmacy businesses are developing and making a real revolution. What challenges do developing online pharmacy markets face?
Developing Online Pharmacy Markets. Licensing And Certification
According to Ashutosh Garg, Chairman and Managing Director at pharmacy chain Guardian Lifecare, Internet-based shopping is growing with rapid advances. There is a huge increase in sales through the Internet. Some companies find laws concerning pharmacy licensing to be ambiguous. As a result, they have started offering medications via the Internet.
FICCI’s (the Federation of Indian Chambers of Commerce and Industry) spokesperson brings the example of India where the online pharmacy market is in the stage of development. He believes that the market has enough potential to grow into a large sector.
The US is one of the world’s most restrictive and regulated prescription drug marketplaces. Bruce Schwack, Director of Marketing at Netmeds.com, notes that even in the US, medications can be offered online by licensed pharmacies and those having chosen to get licensed. These include such major players as Walgreens and CVS, and hundreds of neighborhood shops.
Problems In Developing Online Pharmacy Markets
According to some professionals in the field, online pharmacies can contribute to drug abuse and misuse, self-medication and other problems. The prescriptions provided through fax or email may be fake. Verification of their authenticity won’t be easy. Moreover, based on the online information submitted by patients, doctors may cause malpractice.
FICCI’s spokesperson believes that the mentioned cases can be reduced if kept under proper regulation.
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Today and in the Future
According to Schwack, current industry analyses show a 5-10% market share for the online pharmacies as they come out, competition for their place and position over the upcoming years.
He further notes these pharmacies grow revenue rather than lose. Success can be achieved through their own E-presence, expanding, providing fulfilment for some key regional companies, and also through various marketplace engagements.
In the modern of world of the Internet and high technologies, the main challenge is to establish a balance, as many professionals think. They’re sure online pharmacy certifications and licensing aren’t the only solution to the existing problems.
Garg thinks the government should develop a secure app to prescribe medicines. This way, registered pharmacies would provide medicines based on this app. Such operation would be completely transparent.
Schwack notes, when medications are offered regularly and delivered conveniently, there would be no rise of chronic diseases.