Amazon has added yet another string to its bow with a move into the online healthcare space. The e-commerce giant has recently launched Amazon Pharmacy1 in the US, which sells heavily discounted medicines. Customers can create a secure pharmacy profile to add their insurance information, manage prescriptions, and choose payment options before checking out. Amazon Prime members can buy medications at a discount when paying for them without insurance, saving them up to 80% on generic drugs and 40% on brand name medications. Amazon has also acquired PillPack, that allows Amazon Pharmacy to provide medication in packets rather than bottles as a way to manage prescriptions through various means, giving buyers the opportunity to choose what they prefer.
Prescription medicines have traditionally been slower than other products to move into e-commerce, but consumers are likely to be tempted by the convenience of ordering from Amazon. Morgan Stanley2 predicts the scheme will be a success. "The recurring nature of pharmacy, and relatively small package size, should integrate well into Amazon's existing logistics orders to increase gross profit dollars per shipment," it said3.
Learn more about the exciting growth of the medical e-commerce sector and how you can become a part of it here.