Even though the Internet is rather new (at least to the mainstream) online shopping has grown by leaps and bounds. Now you can get just about anything you will need, from food to fishing equipment, right during your computer. Of course, this has meant that commerce has been forced to adjust to the changing consumer landscape and some industries have been scrambling to meet up with the crowd. It is no different for the pharmaceutical industry as online pharmacies appear to be popping up everywhere you turn. The prevalence of online pharmacies is a hot topic, especially in regards to foreign-based companies selling prescription and non-prescription drugs to Americans for lower, more affordable prices. But in addition to foreign-based online pharmacies are a growing quantity of U.S. based companies offering medication to Americans – which makes it easier and more convenient to get much needed prescription drugs.
What impact does this reality have on the drug industry generally speaking and are the changes positive? The solution depends about what part of the industry you are involved in. Essentially, pharmaceutical companies who sell their products through traditional brick-and-mortar operations come to mind that online pharmacies are merely going to keep growing – taking a large bite out of these bit of the pie. For the most part, although the FDA and the big drug companies talk about safety issues and the legality of cross-border drug transactions, it surely all comes down seriously to money. It’s no wonder many companies , such as Pfizer, are threatening to restrict supply to Canadian pharmacies that sell discounted drugs to Americans in an attempt to scare these pharmacies out of these revenue stream.
Trends do seem to point in the direction of continual growth unless something happens to dampen the excitement the online pharmaceutical industry is experiencing acid gel Since the 90’s the industry has continued to flourish. For instance, sales of Canadian drugs to U.S. citizens alone have skyrocketed over the billion-dollar mark in recent years and all signs point to the trend enduring. Furthermore, although these numbers only represent a dollar level of 0.35% of the sum total annual U.S. prescription drug market, if Americans continue to use online pharmacies to fill their prescription drug needs it may have a large affect the industry as a whole. And needless to say, countries such as Canada are enjoying the advantages of a big consumer base that’s reasons to bring their business north. Many American online pharmacies even offer customers the possibility of obtaining Canadian drugs for lower prices through their sites. As you will see, people are now being given more choices than ever before in regards to buying prescription medications. Much of the ability to regulate drug prices is slowly being taken away from the pharmaceutical companies and put to the hands of individuals that matter the most – the consumers.
Organized pharmacy groups are beginning to voice concern over the practice as they see the economic consequences of this type of trend, and the whole notion of drug distribution, as well as how certain goods, services and funds are transferred over the border. The key reason many individuals are flocking to online pharmacies is to save money. If the pharmaceutical industry wants to stay together with things and keep customers buying the drugs they need through U.S. sources, they will need to change with the days by facilitating the introduction of more online pharmacies that appeal to the U.S. market from within the U.S. They’ll also have to be ready to accept more competition within industry, and most importantly, ensure it is more affordable for the typical American to buy the prescriptions they require.
It is clear that online pharmacies , both foreign and those located in the U.S., are ready to take advantage of an ever-increasing amount of business. Individually, consumers spend less on drugs and are able to afford to put more money to the economy through other industries. Online pharmacies usually offer more choices especially in the way of generic drugs , and ensure it is extremely possible for patients to obtain the prescription drugs they seek. Some older persons find it more convenient to search online than venture out to the local pharmacy. At the same time, many people still choose to go the standard route and buy their drugs in their very own neighborhood, which still takes up the largest the main market.
While online pharmacies are growing at an exponential rate, it it’s still a while before a major shift from buying locally to buying online occurs that may drastically alter the way the pharmaceutical industry functions. For the time being, consumers will without doubt continue to think about the options that are most economically beneficial to them.