AI (artificial intelligence) is transforming various industries in numerous ways, and companies, scientists and researchers are already using the technology across the health care and drug store retail sectors — from helping with early diagnosis of medical conditions to improving patient outcomes in health care, and from inventory management of drug stocks to automated prescription
Imagine you could walk into any drug store retailer and not only get your regular prescriptions refilled but access primary care, meet with experts that can coordinate your health care and get connected with the right doctors? Now imagine this retailer serves the whole family, so group health care plans are personalized and optimized for
Coresight Research expects wellness to remain the pre-eminent multiyear trend driving consumer spending shifts, only amplified by the pandemic prompting consumers to focus more on mental and physical wellness. Here, we discuss three notable trends in drug-store-relevant consumer packaged goods categories: demand for clean beauty, a drive toward personalized nutrition and acquisitions of startups. Demand
Store closures are the order of the day among the major pharmacy chains, continuing a multiyear trend of consolidation of locations in the sector. This comes amid increasing digitalization and a push further into health care services by major chains, both necessitating significant investments by major retail names. However, pharmacy retailers must continue to invest
Pharmacies play an instrumental role in the evolving health care continuum, and COVID-19 has further underscored the need for patients to have access to trusted care. According to the Centers for Disease Control and Prevention, 90% of Americans live within five miles of a community pharmacy, providing easy access for patients. During the pandemic, pharmacists
As the U.S. health care landscape continues to evolve amid the COVID-19 pandemic, drug store retailers are seeking to become the first port of call for patients. To achieve this and capitalize on the rapid changes in health care, they are refining their strategies for both online and off-line channels. Transforming retail stores to expand
As nonessential stores have reopened, there have been some positive signs of consumer demand in physical formats. Despite this, Coresight Research is also seeing sustained demand for e-commerce in core drug store categories, and we expect digital demand to remain elevated over the coming months. Recent uptick in online shopping Coresight Research’s weekly survey of
U.S. brick-and-mortar retail is in crisis. This sentiment has been expressed to varying degrees in recent years as store closures and bankruptcies have piled up, but the current threat is much more immediate and pressing: The coronavirus outbreak has closed much of U.S. brick-and-mortar retail, and almost half the country has been told to stay
Cannabis is best known for its recreational and medical uses, but cannabis-derived ingredients are featuring in more and more products sold in stores and online. The legal cannabis market is burgeoning: Total worldwide cannabis spending is expected to be worth $24.4 billion in 2019 — and is forecast to reach $63.5 billion by 2024, a
NEW YORK — Amazon.com’s venture into the pharmacy market has finally been confirmed. On June 28, Amazon announced that it had entered into an agreement to buy U.S.-based online pharmacy PillPack. Amazon did not reveal details of the consideration, but CNBC reported that Amazon made an offer of $1 billion to acquire PillPack after Walmart
Medical treatments are prescribed to alleviate illness, but sometimes their effects can be harmful. A prescribed treatment can lead to an unexpected adverse drug reaction (ADR), causing fresh or further harm. This is typically the result of the incorrect medication or dosage being prescribed, or it can occur because of an interaction of a combination
In the U.S., pharmacists are a crucial link in the health care supply chain. Beyond dispensing prescription medication, pharmacists have the academic training to conduct health and wellness screenings and to provide some preventative care as well as advice on healthy lifestyles. Empowering pharmacists by changing the laws governing their practice would enable them to
We all know the aging of the U.S. population is one of the biggest demographic changes of our era. This is presenting not only challenges to health care providers and governments but also opportunities for new technologies that deliver health services more efficiently, more effectively or faster. Here, we outline some key health tech innovations
It feels like “The boomers are coming! The boomers are coming!” has been a corporate rallying cry for a number of years now as a range of industries have worked to prepare for the aging of the population. But successfully targeting the baby boomer generation has proven elusive for many. A careful examination reveals that
