Despite the continuously changing tides of healthcare over the last 50 years, innovation in the retail and consumer pharmacy spaces has been slightly more measured. The foundational concept of patients ordering and receiving their medications from brick-and-mortar establishments has been relatively untouched for decades. However, over the last 10 years, this arena has witnessed remarkable innovation and transformation.
In recent years, technological advancements and the consumer pharmaceutical space have become more intertwined and have attempted to solve even more complicated retail use cases. Pharmacy giants CVS and Walgreens have spent hundreds of millions of dollars in digitizing their processes and pipelines— not only with regard to customer facing applications, but also to augment internal functions including their procurement processes, supply chain management and workflow efficiencies.
On the customer front, the focus on consumer engagement has never been higher.
In congruence with the growing trend of traditional pharmacies leaning into technology, non-traditional companies are also increasingly seeking to disrupt the space. Perhaps one of most successful examples of this is Amazon.
Despite the rapid progress, the work in this arena is just getting started. Undoubtedly, as technological capabilities continue to grow at an astounding pace, so too will the world of consumer and retail pharmacy evolve.Our community is about connecting people through open and thoughtful conversations. We want our readers to share their views and exchange ideas and facts in a safe space.