The Future of Pharmacy: 6 Key Trends to Watch Out For

Key technologies in health care are set to bring dramatic changes to the pharmaceutical sector. Some are bigger trends affecting all players, while others are niche-specific developments. To give you a better idea, here are six key trends pharmacists should watch out for.

1. Artificial Intelligence

Artificial intelligence can drive pharmacists to take a more proactive role in patient engagement and disease management. AI allows researchers and pharmaceutical companies to collect and analyze data that can speed up the development of new drugs.

Additionally, AI allows quicker identification of high-risk patients and potential drug allergies and reactions. It also seeks to optimize pharmacies’ inventory and supply chain management to boost productivity, and improve customer satisfaction.

AI can also be a useful tool to refine marketing decision-making and strategies. Since pharmacy is a sales-driven industry, AI can help companies track consumer journey and explore profitable channels. Using AI-driven analytics and tools can also help design marketing strategies that target the right audience at the right time.

2. Gene-specific drugs 

With gene-specific drugs or personalized medicine, physicians use a patient’s genetic information to create the best possible treatment for him.

Scientists make use of pharmacogenomics to predict whether the patient in study will benefit from a certain medicine or suffer serious side effects. Through genome sequencing, researchers can come up with medication targeted towards specific abnormalities.

Typically, new drugs are tested on large populations of people and their average response is reported. This evidence-based procedure relies on averages while pharmacogenomics measure individual responses towards certain drugs. It recognizes the individual characteristics and needs of each patient, allowing pharmacists to properly adjust the dosage or prescribe a more effective drug.

3. Specialty medication 

The demand for specialty drugs and services will continue to grow this year. Specialty drugs are hyper-expensive prescription medications often $1,000 or more per month. They are used to treat chronic conditions including arthritis, cancer, and multiple sclerosis.

These drugs often require special handling and administration typically through injection or infusion. Patients taking a specialty drug require assistance and monitoring from a health care provider to identify any side effects and measure efficiency.

Pharmaceutical companies are expecting to introduce more specialty drugs within the year. Intercept Pharmaceuticals is set to release a drug to treat fibrosis in individuals with non-alcoholic steatohepatitis (NASH). If approved, this product can help regulate metabolism of fats and glucose, and treat liver cancer and inflammation.

Similarly, BioMarin’s valoctocogene roxaparvovec is expected to be approved within the year. It is a gene therapy for severe hemophilia A in patients aged 18 years and older. It will take the form of a one-time injection and uses a viral vector to transmit a functional duplicate of the gene to the patient’s cells.

4. Virtual health care

Telehealth is expected to boom this year as the use of technology and health care-related mobile applications continue to grow.

Health apps are designed to monitor patient’s health status by tracking crucial data including vital signs, heart rates, and blood pressure. These apps effectively streamline communication between patients, clinicians, and pharmacists, providing opportunities to personalize healthcare per patient.

Telehealth technologies are also paving the way for video-based medical consultations. These allow patients to connect with health professionals remotely. Similarly, videoconferencing can facilitate discussions between physicians and pharmacists to improve treatment plans and patient care. Additionally, virtual health care has also paved the way for electronic prescription forms and medication delivery.

These days, patients prefer online shopping and doorstep delivery due to their efficiency, convenience, and larger product offerings. The rise of ecommerce platforms has allowed pharmacies to increase their market reach and boost their revenue. In fact, research shows that the ePharmacy industry is expecting a 17.3% in CAGR growth in the next 6-7 years.

5. Printable medication 

Aprecia Pharmaceuticals made history when they introduced Spritam, the first 3D-printed, FDA-approved drug in the world. Spritam was created to treat epilepsy and aid patients who have problems with their current medication experience. It is manufactured through a 3D printing process that allows high-dosage medications to easily disintegrate in very little water.

Essentially, printable medication is designed to speed up manufacturing and lower the costs of drug development. This year, more companies are expected to hop on the 3D trend and make complex drugs more affordable to the public.

6. Compliance packaging

Also known as convenience or adherence packaging, compliance packaging involves allocating medications for breakfast, lunch, and dinner. The pills are marked with the day and time of each dose, making drug management easier.

Many pharmacies have been offering compliance packaging services, but this practice is expected to boom this year as ePharmacy dominates the market. Pharmacies will have to improve their services to retain patients and beat the increasing competition. Offering a compliance packaging service can help customers, especially those on multiple medications, monitor their doses, and stick to their daily health routine.

Staying competitive in today’s fast-paced market will be a challenge for all health care providers. As a result, pharmacies must recognize and respond to these key trends accordingly. Digital literacy, continual education, and an unwavering ability to adapt are what they need to stay on top.