6 pharmacy retail trends to watch in 2020
Global pharmaceutical sales are predicted to reach $1567.80 billion by 2023 and based on the launch of new technologies and the approval of the first cell and gene therapies the estimate in prescription drug sales in is $1.18 trillion.In addition, China’s biopharmaceutical sales grew almost 25% annually from $9.4 billion from 2012 to 2016 and if it continues to grow at the expected rate, the sales volume will be $48.8 billion by 2021. Here are six pharmacy and retail trends to expect in 2020. 1. 360 degree supply chain “Today, the supply chain has evolved into a critical component of a company’s ability to satisfy customers, drive profitable growth and deliver new innovations to the market.” Allan Dow, president of Logility. Having a 360 degree supply chain will be the way forward for retailers to lower prices and open up a channel of dialogue with suppliers - showing the process from initial materials used to the end product delivery. German pharm...