Mail Order Pharmacy Market Market to Perceive Substantial Growth During 2024by Rushikesh More Web Marketing Analyst
Mail Order Pharmacy Market Report covers industry chain analysis, latest market trends & dynamics along with cost profit analysis of major key players which focuses on expansion rate, prices, competition, size, prices and value chain analysis of those leaders in the market. The Mail Order Pharmacy Market report covers the market landscape and its development prospects over the coming years.
Global Mail Order Pharmacy Market Synopsis:
The past four years, Mail Order Pharmacy market size to maintain the average annual growth rate from 2014 to 2019, Market analysts believe that in the next few years, Mail Order Pharmacy market size will be further expanded, we expect that by 2024, The market size of the Mail Order Pharmacy will reach at Higher rank.
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Mail order pharmacy is a pharmacy that works with the web and gives medicines directly to destination via mail. Mail order pharmacy service consumes the time and trips to nearby retail medical or pharmacy. As compared to local medical or pharmacy, mail order pharmacies gives minimum rate which results to better health outcomes. Mail order pharmacy service is normally offered for maintenance drugs utilized for chronic restrictions for example high cholesterol, asthma, high blood pressure, diabetes or depression. Through this service, the customer will often receive 3 months’ buy of medicine at once instead of getting medicine refilled each month. First mail order pharmacy was Drugstore.com which was safe and fully operational mail order pharmacy with Verified Internet Pharmacy practice site (VIPPS) certification and started to develop the industry. Mail order pharmacies may decrease dispensing rate due to their high volume and operations.
Rising use of web or internet over the world, awareness of mail order pharmacy services among the users, growing adoption of digital techniques in healthcare sector, rising adoption of online business or ecommerce, increase in pharmaceutical requirement and in geriatric population and progressive healthcare infrastructure are the constraints that develop the growth of the Mail order pharmacy Market. In addition, change in customer with raised demand for comfort has subsequently contributed toward the development of the mail order pharmacy market. The mail order pharmacy market in the U.S., China, and India has more potential for growth. Updating a few rules in these areas and increment in demand for customer healthcare products because of progress in way of life drive the market development of these nations.
The detailed segments and sub-segment of the Mail Order Pharmacy Market are given below:
1) Product Type Segmentation:
- Prescription Drugs
- Non-prescription Drugs
2) Industry Segmentation:
- App Only
- Online Store
3) Region Segmentation:
On the basis of Regional analysis, North America and Europe holds major share in global Mail Order Pharmacy market. Moreover, Asia-Pacific is expected to record higher growth rate in Mail Order Pharmacy Market during the forecast year.
- North America Country (United States, Canada)
- South America
- Asia Country (China, Japan, India, Korea)
- Europe Country (Germany, UK, France, Italy)
- Other Country (Middle East, Africa, GCC)
Top Leading player in Global Mail Order Pharmacy Market:
Express Scripts Holding Company, CVS Health Corporation, DocMorris, Walgreen, SANICARE, OptumRx, eDrugstore, WellDyneRx, EnvisionPharmacies, Humana Pharmacy
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OptumRx (Oct. 8, 2019)
Artificial Intelligence Adoption and Investments Growing Rapidly Among Health Industry Leaders
Confidence and investment in artificial intelligence (AI) to improve health care remain high, according to a new survey of 500 U.S. health industry leaders from hospitals, health plans, life sciences and employers, on their attitudes and adoption of the technology. Significantly, compared with 2018 findings, this year’s results found a nearly 88% increase in the number of respondents who said their organizations have a strategy in place and have implemented AI.
The second OptumIQ Annual Survey on AI in Health Care also reveals a shift in funding expectations for AI-related projects, as leaders estimate their organizations will invest an average of $39.7 million over the next five years —$7.3 million more than last year’s estimate.
“These findings validate that AI is vital to holistically transform health care. It’s encouraging to see executives’ growing trust in, and adoption of, AI to make data more actionable in making the health system work better for everyone,” said Dan Schumacher, president and chief operating officer of Optum. “Working together, I am confident we can improve the quality, experiences and reduce the total cost of health care in meaningful, sustainable ways.”
In addition, the survey found:
- A positive return on investment (ROI) will take less time than previously expected, as little as three years in some cases. Half (50%) of respondents expect to see a tangible cost savings in three years or less as a result of investing in AI, compared with 31% in 2018. Among the respondent groups, more hospitals (55%) and health plans (52%) expect to see a positive return in less time — in three years or fewer — while life sciences executives (38%) anticipate it taking five years or longer.
- Implementation has advanced. Sixty-two percent of respondents report having implemented an AI strategy — an increase of nearly 88% from 2018 (33%) — while 22% report being at late stages of implementation.
- A higher level of trust in AI for administrative over clinical applications. While most respondents indicated high levels of trust in AI for both clinical and administrative tasks overall, when asked to rank specific applications, more administrative applications were selected (62%) over clinical applications (38%). In addition, when asked which health care applications, if any, they would feel comfortable having AI technology support, four out of five of the top-ranked applications was administrative.
- Administrative process improvements top the list of investment priorities. Half (50%) of organizations will invest first in automating business processes, such as administrative tasks or customer service, while more than a third (36%) will invest in personalizing clinical care recommendations, such as drug therapies, and the same percentage (36%) also will invest in accelerating research for new therapeutic or clinical discoveries.
AI Seen as Most Pragmatic for Non-clinical Applications
In addition to noting the growing value of AI in the clinical environment, health care executives are looking to AI to solve a variety of operational and administrative challenges, such as automating pre-authorizations and personalizing care. The top five areas that organizations see AI as having potential are:
- 51% to automate prior authorizations
- 47% to provide individuals with relevant health actions using personalized communications
- 45% to manage electronic health records (EHRs)
- 43% to detect fraud, waste or abuse in reimbursement
- 38% to select appropriate care settings
AI to Create More Employment Opportunities and Drive Job Growth
As more organizations invest in and move forward with implementations, half (52%) of leaders expect AI to create more work opportunities. The majority (87%) agree that hiring candidates who have experience working with AI technology is a priority for their organization.
Most (89%) also agree employees are not being trained quickly enough to keep up with the growth of AI. In fact, 91% estimate that 10 to 50% of new roles will require experience working with AI. To solve this, they are evenly split among solutions such as establishing partnerships, creating training programs, working with consulting firms and postponing projects.
“In order to transform and modernize the U.S. health system through the power of AI, it is critical that organizations invest in developing talent throughout the enterprise to solve health care’s most complex challenges,” said Steve Griffiths, senior vice president and chief operating officer of Optum Enterprise Analytics. “At Optum, we apply what we call OptumIQ — a distinctive combination of curated data, analytics and health care expertise — to drive that intelligence transformation.”
Significant points in table of contents of Global Mail Order Pharmacy Market Report 2020:
1 Mail Order Pharmacy Product Definition
2 Global Mail Order Pharmacy Market Manufacturer Share and Market Overview
3 Manufacturers Mail Order Pharmacy Business Introduction
4 Global Mail Order Pharmacy Market Segmentation (Region Level)
5 Global Mail Order Pharmacy Market Segmentation (Product Type Level)
6 Global Mail Order Pharmacy Market Segmentation (Industry Level)
7 Global Mail Order Pharmacy Market Segmentation (Channel Level)
8 Mail Order Pharmacy Market Forecasts 2020-2024
9 Mail Order Pharmacy Segmentation Product Type
10 Mail Order Pharmacy Segmentation Industry
11 Mail Order Pharmacy Cost of Production Analysis
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