COVID-19 Impacts On Pharmaceutical Business Over the Last 3 Months
It’s safe to say that COVID-19 has certainly had an impact on the online pharmaceutical business, not least the world. Many of us have no choice but to adjust to our new “normal” which may involve isolating in our homes when we return from another country, wearing face-masks in public places and shops where social distancing may be difficult, and rubber gloves to further prevent the spread of the virus.
As many countries are now lifting their lockdowns, the true impact of COVID-19 is coming into focus and we have a clearer view of the pharmaceutical manufacturing supply chain than ever before. We’re taking a closer look at how it has affected the online pharmacy business in particular.
Significant Rise in Online Orders Across the World
With several of us unable to leave our homes under lockdown, there has been a significant rise in the number of online prescriptions since March. It’s not just lockdown restrictions that have led to an increase in online prescriptions either, as many have had no choice but to close their doors for the foreseeable future meaning that what was once your local pharmacy may be no more.
It’s not all bad though, as online pharmacies are often a quick and convenient way to receive the treatment that you need whilst abiding by new social distancing measures. As Coronavirus continues to cause havoc across the globe, we may see more people begin to rely on online services than ever before, further increasing the demand for such services.
The Impact on The Pharmaceutical Supply Chain
Despite the numerous negatives associated with the pandemic, the network of online pharmacy businesses has adopted a new, positive view of maintaining the supply chain in the pharmaceutical industry, which is a huge gain.
Whilst the likelihood of another pandemic of such scale is limited, it’s not entirely impossible meaning that we need to prepare accordingly now. The pharmaceutical manufacturing supply chain can use recent events as a guide to build a plan that will help to ensure that they are supported if a similar crisis were to occur in the future.
Similarly, suppliers will adapt to limit the supplies they create for internal orders to help limit pressures across the board including that on the production line. This may also involve increasing the overall medical stock of online and offline pharmacies to ensure that they remain well equipped.
Shortages of Certain Treatments, Including Paracetamol
With the pandemic at the very top of everyone’s minds back when it began right up until now, we saw a shortage in certain treatments. Surprisingly, these “shortages” rarely impacted the demand for prescription drugs but instead paracetamol, which lead to limited or very low supplies. With this in mind, Governments around the globe are taking new steps to ensure that the painkiller drug always remains accessible.
Increase in Potency Drug Sales Online, Such as Viagra
Unlike in some countries, purchasing potency drugs online in the United Kingdom is legal, meaning that people can order original medicines such as Viagra and Sildenafil online with just a valid prescription provided by a licensed doctor.
In order to obtain their medication, people are required to fill out a questionnaire regarding their health alongside their delivery and contact information. Once the order has been placed, they can expect their treatment to arrive within the timeframe provided at the stage of purchasing. Alongside their order, they will receive an updated prescription from a licensed doctor.
One of the most notable advantages of online pharmacies is that they can deliver products across Europe including Germany, France, the Netherlands and further afield, which also supports the theory of an increase in the number of online prescriptions. Could online pharmacies become the new normal?
The Future of Online Pharmacy Businesses
As we begin to adjust to the new “normal”, it is likely that the online pharmacy business will continue to be impacted by Coronavirus, with a rising number of people beginning to turn to online pharmacies to attain the medication that they need without having to venture out of the safety of their own homes.
Just like we couldn’t predict the outcome of COVID-19, we will be unable to see its full effect until the virus has passed to a point where our “normal” lives can begin to return and people can go back to their daily routines. In the meantime, we can expect the pharmaceutical manufacturing supply chain to continue to evolve as we carry on fighting the virus.
For more information about the impact of COVID-19 and how it may affect your business moving forward, get in touch with a member of our expert team at Clarity on 0845 080 5190, today.