5 Pharmacy Trends You’ll See in 2020
With the new year officially underway, what are some trends in healthcare and pharmacy that may be on the horizon? From artificial intelligence to mobile health apps, it’s no surprise that technology will make a huge impact. Here are five trends to watch for in 2020, according to American Pharmacy Purchasing Alliance (APPA):
Artificial intelligence used in the development of new medications is going to be prevalent in 2020. APPA says, “Taking the lead in this area is IBM Watson, a computer that could interpret millions of pages of scientific literature and data that will help researchers and pharmaceutical companies speed up the development of new medications.”
Targeted for each patient, gene-specific medications will make an impact in 2020. “Genetic information is gathered through genome sequencing where researchers are able to identify specific abnormalities and come up with drugs and therapies targeted towards them,” explains APPA. Precision medicine results in better outcomes for the patient, due to the increased efficiency and customization of the patient’s medication therapy.
According to APPA, specialty products and services were considered the most profitable among all of the pharmacy trends in 2019. The trend will continue to grow and 2020 will see an even bigger market for specialty medications. APPA said, “They are so rare and highly in-demand because of the complexity and cost of creating them. But they are also very important in helping treat the symptoms of chronic diseases so patients can enjoy better quality of life.”
As the use of technology continues to grow, virtual healthcare is expected to be one of the top trends in 2020. APPA says that the pharmacy industry will see a rise in e-commerce and mobile channels of marketing, like social media. In addition, virtual healthcare will also transcend into online prescription forms, medication delivery, and more.
The use of healthcare-related mobile apps is expected to increase in 2020. The data gathered from these mobile apps will provide pharmacists with relevant data on the patient to aid in providing better care. APPA says, “These apps are considered to provide accurate information on a patient’s health status, which is why they’ve been used to study diseases like Parkinson’s disease, diabetes, breast cancer, asthma and cardiovascular disease.”
Read the full list of 2020 trends here.