How is eCommerce transforming the modern pharmacy and healthcare business?
The evolution of e-pharmacy has been pretty dramatic around the world. Times when eCommerce has been catching up its pace and literally transforming the digital shopping experience for modern customers, the healthcare segment has been trailing behind for not going in for the big game-changer.
Due to undeniable limitations that coincide with the healthcare domain, the scope of merging medical and eCommerce has mostly been held up. However, widespread digitization and advancement in the healthcare tech sector have enabled the long-awaited shift. Today, more and more pharmaceutical and healthcare companies are investing in eCommerce platforms and calling it the next big thing in the online retail sector.
Of course, there is a huge untapped potential that lies within the medical eCommerce domain. People today are far more concerned about a healthy lifestyle which successively increased the demand for quality healthcare products and services. Wish to get a user-friendly and high-performing eCommerce website for your pharmaceutical store? eCommerce website for your pharmaceutical store? Biz4Commerce can help you achieve the desired competence and results with your medical eCommerce business. Based on the latest and greatest MERN technology stack, Biz4Commerce is a powerful and robust eCommerce platform that helps you start, run, and grow your online marketplace.
The Current Scenario
It is a known fact that those involved in healthcare services have a certain reluctance when it comes to engaging with technological adaptation. According to a study, more than 70% of users look for health-related information online but only 14% of hospitals have provisions for offering digital services worldwide. Today, even when there are more than 162,000 healthcare-related mobile apps available on the internet, only a handful of healthcare service providers seem to take the initiative resulting in slower growth and revenue rate.
But the tables have turned since then. As per Fortune Business Insights, the e-pharmacy market had grown to a staggering USD 4.97 billion in 2018 worldwide. With this growth rate, the market will soon pick a CAGR of 17.3% and reach up to USD 17.7 billion by the end of 2026.
Let’s see how is eCommerce improving the state of healthcare services in modern times
Convenience and Reliability
The potential of eCommerce is well-known to the world. As internet connectivity becomes ubiquitous and online shopping experience becomes more and more comforting, a lot of people are turning on to eCommerce as their preferred choice. Today, every one out of four people is an online shopper. With this rate, nearly 2.14 billion people will become digital buyers by the end of 2021.
The healthcare sector, though conservative, will soon see a rise in the adoption of eCommerce. Patients are willingly purchasing pharmacy online instead of turning up to traditional brick and mortar stores. To maximize their profits, even pharmacies are bringing in advanced features like fast deliveries and live chat options to handle customer queries.
Patient Care through Telemedicine
Technological developments in the past few years have enabled remote healthcare to be incorporated into the eCommerce domain. This way, patients are getting on-demand healthcare consultation that too at the comfort of their home. Popular mobile apps like Practo and FirstOpinion are leading the way for telemedicine around the world.
Obviously, telemedicine cannot replace in-person examination. That’s just the nature of healthcare which requires a patient to visit a medic. However, these apps do solve the dilemma of whether an examination is actually required or not.
Improved Patient Experience
Though the idea of incorporating eCommerce wholly into the healthcare system is a far-fetched idea, it is gradually making its way there. Another one of its applications is merging pharmaceutical eCommerce with telemedicine. This way, patients can easily consult a doctor, get symptoms checked, and order required medicines all from the same platform. This can largely simplify the patient experience and make things quite easy for both physicians and patients. Going forward, this can help in creating a healthcare system where patients will get instant help without waiting for appointments or going through long travel hours. Platforms like Walgreens and NowRX are achieving some great milestones in this area.
Online Branding and Reviews
With the increased use of online services, healthcare providers and pharmaceutical businesses also need to improve and maintain their brand image. Often times, patients do not get the level of service they expect from a healthcare service provider. With eCommerce taking over this area, patients can now verify if the service provider actually delivers what they advertise. This way healthcare providers will also have to maintain and constantly improve their serviceability across the online platforms.
Likewise, this can benefit the doctors as well. Good patient experience will serve them with good branding helping them build an online reputation and attract more patients in the long run.
Easy Accessibility Over Any device
Today when the boundaries between a dedicated application and website experience have started to fade, it becomes even more critical for healthcare providers to make sure their website is not just efficient but responsive across mobile devices as well.
Reports show that more than 52% of web traffic came from smartphone or tablet devices in 2018. This means it is important to make websites that are accessible and useful for mobile users alike. While making a quality mobile website, one must ensure that it should fairly represent your expertise and experience in patient care. On the technical side, your sites should have a short server load time, easy navigation, and an appealing design for good engagement.
eCommerce not just benefits the end-user but also fills the bills for businesses by bringing in increased opportunities and value. Healthcare providers like clinics, hospitals, and independent practitioners can also rely on eCommerce platforms to directly purchase medical equipment and supplies.
Realizing the potential of eCommerce, medical device manufacturers are also making B2C sales for direct orders and product deliveries. It does bring its own set of challenges as the medical field is quite sensitive to regulations and adherence. If such issues can be addressed effectively, the benefits can certainly outdo the challenges in no time.
More swiftly than ever, eCommerce is making its way into the healthcare domain, and it's very critical for healthcare providers to facilitate the shift. It may have certain rough edges but with careful and innovative mentation, it can easily be the next big thing. Looking for a trusted eCommerce platform to get your healthcare store developed. With Biz4Commerce, you can rest assured while our team of expert developers and UX designers create the best-suited medical eCommerce marketplace for you. Reach out to us now here .