10 Trends Shaping the Retail Pharmacy Business for 2020


The year 2020 started with a good note, but as the days passed, people had to encounter several natural disasters and had to face a huge devastation. They lost their houses, got injured, and also had to bear the loss of their dear ones. The major natural disasters that took place in the past few months are: -The Australian bush fire, the dreaded corona virus, earthquake in Turkey, Iran, India, flood in Assam (India), flood in Bihar (India), cyclones in different coastal areas of India and Bangladesh. The story does not end here, as there are some more natural disasters that took place other than the list mentioned. These natural calamities affected people physically and mentally.

 As it is rightly said that 'trash for one is a treasure for another' so associated with this, on one side where common people are suffering the repercussions of natural disasters, on the other side the business that flourished the most in this situation is healthcare business.

During these hard times, the pharmacy business realized the loopholes and started concentrating on the present trend, which their customers’ demand so that they could shape their business accordingly.


Wherever a destruction took place on a larger scale and people got physically injured, like earthquakes or bush fire, they were bound to seek help from doctors and depend on medicines to heal their wounds. Due to the corona virus pandemic, the entire world was put on hold. People have been put in captivity inside their houses. They have been informed to maintain social distance. And also, to concentrate more on sanitizing everything which they will consume or will come in contact with. These guidelines affected people mentally, as they started panicking. However, all these factors compelled the healthcare industry to concentrate on many factors which were previously ignored.

Firstly, they started concentrating more on giving good services to their customers. And made it a point to listen to them carefully so that they could understand what their customers are looking for, or their real needs are? Following this, the pharmacists also started focusing on drug regulation and its serialization. With the rising demand of medicines and essential medical supplies, the black-market people or illegal hoarders grabbed the opportunity to supply falsified products.

This compelled retail pharmacies to regularize the drugs on the basis of prescriptions so that they could register the data and also could continue the documentation of the prescribed drug’s identification number. By taking such steps, they could assure that their customers with the authenticity of their service and start trusting them. India is now being praised all over the world for its impeccable effort in increasing the production of drugs and also supplying those to the needful countries. Recently Brazil’s prime minister has thanked India for its hard effort in increasing drug production and helping them in this hour of need. 

Not only in the international market but it is also a boon for Indian local retail pharmacies as they grabbed the opportunity to grow their business by participating in the emancipation as a warrior from this pandemic scenario. They decided to keep their shops open for the needy and have served them in every possible way.

The pharma industry realized that by focusing only on the local retail shops will not be enough, instead they also have to turn toward the digital world, so most of them took the help of Artificial Intelligence. It helped the pharmacists availing the accessibility virtually between the customers and the healthcare providers. Integration of the Artificial Intelligence and technological updates of all drugs along with their authentication and integrity has proven quite expensive for the business, but the pharmacists have no option left other than complying with the situation and public demand.

With ongoing border escalation between India and China, the economy has been affected, as the trade got disrupted between the two countries, so the price of drugs raised and it is deterring the local business. The retail pharmacy has to keep in mind that they must provide medicines to their customers at the right price. Not only this but a shortage of supply and high demand is a big deterrent for the pharmacies, so they have to participate in the race for collecting the good amount of stock so that their customer do not have to return empty-handed.

Conclusion: - Pharmacists acted as corona warriors despite the lock down in the entire nation, by deciding to keep open and serve people. This has played an important role in stabilizing the medical infrastructure of the country and saving it from a complete collapse. Not only the pharmacists but also healthcare workers have stood strongly to show their solidarity toward the humanity. They have served the nation 24x7 and continuing the same.

 Keywords: Devastation, Disaster, Loop hole, Medical Facility, Drugs, Supply, Demand, Customer, Business. 

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