Pharmaceutical Industry: Unraveling the Potential of Mail Order Pharmacy

What is the Current Scale of Mail Order Pharmacy?

Mail order pharmacy, a branch of the pharmaceutical industry, primarily involved in delivering prescription medication directly to patients through the mail, has seen significant development over the last decade. This growing segment of the market represents a continuous shift in consumer behavior, propelled by technological advancements that have made transactions and delivery more efficient. Accounting for around 20% of the total prescription drug market in the U.S. and rising, it is visibly a potent force within the industry.

What are the Major Contributors to its Growth?

The expansion of mail order pharmacy is attributed to a number of factors. Crucially, convenience and cost-efficiency are key drivers. Patients with chronic conditions find it easier to receive medication through the mail, significantly eliminating the need for frequent visits to brick-and-mortar pharmacies. Additionally, maintaining a competitive edge, online pharmacies often provide robust price discounts.

What Potential Challenges Might Surface?

Despite its advantages, mail order pharmacy faces obstacles relating to regulation, delivery logistics, and maintaining the cold chain for certain medications. Further, digitization brings in threats related to data security and privacy, a fundamental concern amongst consumers. The industry's growth will therefore depend on successfully navigating and overcoming these challenges.