First books, now medicines
Online shopping giants Amazon turn their eye to the online pharmacy market.
Amazon are no strangers to our daily lives, from downloading the latest New York Times bestseller, to buying state of the art electronic appliances, and now they are looking to deliver our prescription medicines too.
Earlier this month, CNBC reported that the online retail titans are currently hiring a general manager to venture into the pharmacy space in the future.
Industry experts believe that this could be a multibillion market opportunity for Amazon, and have already begun selling medical supplies and equipment in the US.
To test the waters, it was reported that the internet retailer has established the delivery of online prescriptions and cosmetics on its Japanese site, through the support of local partners and with approval from a pharmacist.
Although this could prove a very lucrative deal for Amazon, the possible move won’t come without difficulty. In the US, the intricate and complex negotiations on the cost of medicines that occur between insurers, pharmaceutical companies and pharmacies, can make it difficult for third party distributors to have any influence on the market. Amazon are yet to comment on the possible move.
What the future holds for the possible Amazon Pharmacy is yet to be known, but having a new competitor in the market could be hugely beneficial for patients.
Sjaak Vink, co-founder and CEO of online patients’ buyers club TheSocialMedwork, stated that “not a day goes by without news of some profound transformation in the economy, and the healthcare industry is one that has remained unscathed so far. New players and innovative visions can play a pivotal role in accelerating health care and access to medicines into the 21st century.”
The path of innovation for patient centricity looks bright, and TheSocialMedwork, being a patient advocate and frontrunner itself, will be monitoring this space closely.