Agency / Source: Frost & Sullivan

Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

eCommerce Channels Find High Penetration for Drug and Medical Device Sales Finds Frost & Sullivan - Digital marketplaces with predictive and efficient business models receive a boost with the higher adoption of eCommerce channels, finds Frost & Sullivan - Frost.com
eCommerce Channels Find High Penetration for Drug and Medical Device Sales Finds Frost & Sullivan

 

PRZOOM - /newswire/ - Santa Clara, CA, United States, 2019/03/21 - Digital marketplaces with predictive and efficient business models receive a boost with the higher adoption of eCommerce channels, finds Frost & Sullivan - Frost.com.

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Medical Services / Equipment Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

As the tech-savvy millennial population has come to expect a high level of user experience (UX), the healthcare industry has begun to digitize products, services, and commerce models. The industry is setting up personalized UX/user interface (UI)-enabled eCommerce platforms and websites, which are expected to be the preferred digital channels for browsing and ordering medical devices and supplies. This will not only improve access, quality, and affordability of healthcare, but also promote predictive, preventive, and outcome-based care models. The overall benefits of supply chain optimization and improved UX are expected to result in an eCommerce channel that will reach $200 billion at a compound annual growth rate (CAGR) of 15 percent by 2022.

"Drug and device OEMs and distributors should prioritize their eCommerce strategy based on the maturity of their buyer/market using a mix of available digital tools for educating, researching product information, and order and payment management,” said Kamaljit Behera, Industry Analyst, Transformational Health.

Frost & Sullivan’s recent analysis, Healthcare eCommerce Market in North America, Forecast to 2022, examines the key trends and developments in healthcare eCommerce with specific focus on the eCommerce market for pharma drugs and medical devices in North America. It also provides market projections, opportunity analysis by supply chain participants, strategic imperatives, and industry best practices or case studies for both segments.

"The convergence of healthcare with IT and retail industries has opened the market up to non-traditional players, which is disrupting the existing business channels and future revenue streams. For example, Google, Amazon, Facebook, Apple, and Microsoft (GAFAM) in the West, and Baidu, Ali Health, and Tencent (BAT) in East will continue to make further headways in the healthcare industry," noted Behera. "Amazon will have a particularly high impact on emerging home or individual care concepts like telehealth, telemedicine, and direct-to-consumer (D2C) commerce."

Some of the most prominent trends and growth opportunities in the healthcare eCommerce space include:

• Hospital buyers are more willing to repurchase from a B2B digital marketplace that offers transparency, personalization, and competitive pricing for stable medical devices, implants, and consumables.
• Selling, general & administrative (SG&A) expenses accounting for 35 percent to 40 percent of the overall healthcare industry cost, which creates a need for an efficient eCommerce distribution model by automating sales representatives’ routine and tactical works.
• Development of business models that support the integration of the product sale and service functions (maintenance, repairs) in the eCommerce channel. Furthermore, the integration of eCommerce channels with customer relationship management (CRM), business intelligence (BI), and social relationship management (SRM) tools will help standardize the purchasing process.
• eCommerce platforms offering not only robust account management functionalities but also integration with warehouse and fulfillment software to provide real-time inventory updates and delivery status to customers.
• Apart from drug or device types and purchase volumes, factors such as market positioning, target end users, and reimbursement playing a critical role in eCommerce channel selection and success.
• Retail pharmacy, consumer devices, and medical supplies segments present a scope for large profit pool disruption by eCommerce. At the same time, digital marketplace and centralized contract management platforms such as OpenMarkets, Amazon Business, DST Pharmacy Solutions, and Global Healthcare Exchange (GHX) are viewed both as an opportunity and threat by groups of purchasing organization (GPOs) and pharmacy benefit management (PBMs).
• eCommerce will solve the humongous medication adherence challenge and it presents an opportunity to increase transparency in drug pricing- a problem plaguing the United States healthcare system for decades.

Healthcare eCommerce Market in North America, Forecast to 2022 is part of Frost & Sullivan’s global Advanced Medical Technologies Growth Partnership Service program.

About Frost & Sullivan

For over five decades, Frost & Sullivan (frost.com) has become world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

Healthcare eCommerce Market in North America, Forecast to 2022 / K2AB-54

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Medical Services / Equipment Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Agency / Source: Frost & Sullivan

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick PRZOOM - Press & Newswire Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Medical Services / Equipment articles,
CATCH Visitors via Your Competitors Announcements!


eCommerce Channels Find High Penetration for Drug and Medical Device Sales Finds Frost & Sullivan

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name PRZOOM - Press & Newswire and LINK as the source.
 
  For more information, please visit:
Is this your article? Activate ALL web links by Upgrading to Press Release PREMIUM Plan Now!
eCommerce Channels | Frost & Sullivan
Contact: Mariana Fernandez - Frost.com 
210-348-1012 mariana.fernandez[.]frost.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any Frost & Sullivan securities in any jurisdiction including any other companies listed or named in this release.

Medical Services / Equipment via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Press Releases From Frost & Sullivan / Company Profile


Read Medical Services / Equipment Most Recent Related Press Releases:

Imec Signs Licensing Agreement with miDiagnostics to Commercialize its Patented Technology for Fast and Reliable COVID-19 Diagnosis
Withings Announces the FDA Clearance of ScanWatch its Most Medically Advanced Hybrid Smartwatch
Bruker Launches the Q4 POLO - Compact Spark-OES Metals Analyzer
Respiratory Health Management Market to Expedite Digital, Smart, and Portable Solutions Says Frost & Sullivan
Bruker Joins PANACEA Network to Broaden Access to NMR for European Chemistry Community
High-end Global Computed Tomography Purchases to Propel the High-end CT Segment Revenue Finds Frost & Sullivan
KRAIBURG TPE Introduces Ergonomically Designed Healthcare Equipment
Fujifilm Lauded by Frost & Sullivan for Disrupting the Operating Room Space with its Systems Integration Solution
BASF’s Irgastab® Enables LOTTE Chemical to Deliver High-clarity Medical Polypropylene for Syringes Used in COVID-19 Vaccinations
Withings and One Drop Partner to Bring Best-in-class Medical Devices to Multi-condition Employer Program

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
 
NewswireToday Celebrates 10 Years in Business
.



PREMIUM Members


Visit  Mokuyobi

Visit  MONOVERSE USA, Inc.

Visit  RightITnow, Inc.







 
  ©2021 PRZOOM - Limelon Advertising, Co.
Home | About PRZOOM | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneur newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today