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Amazon Contemplating On Entering Japanese Prescription Drug Market

 

Amazon Contemplating On Entering Japanese Prescription Drug Market

Amazon Contemplating On Entering the Japanese Prescription Drug Market

According to reports from Nikkei newspaper Amazon, is contemplating making a foray into the prescription drugs sales market of the archipelago country Japan. The development was reported by the Nikkei newspaper on Monday.

Amazon plans to partner with small- and mid-sized pharmacies for the service, starting next year when electronic prescriptions are allowed for the first time in Japan, Nikkei said, citing people involved in the project.

According to news reports Japan is the emerging prescription market in the world. The country’s spending on prescriptions was reported to be around 87 billion dollars. According to statistics, the country is the third largest prescription market in the world after USA and China.

According to reports, the Japanese prescription drug market saw an increase in valuation by 0.2 billion Yen between 2020-21. The value of the prescription market in 2020 was 10.4 million yen, which increased to 10.6 million the previous year.

Amazon Plan

Reportedly electronic prescription is going to be allowed by the government of Japan by next year. According to reports Japan is planning to agree with small and mid-sized pharmacies. According to reports Amazon plans to develop a distribution network rather than indulging in manufacturing medicines. With the availability of e-prescriptions, a patient would be able to get medicines delivered at home without having to visit a medical store. Various major pharmaceutical companies are working to develop medical guidance online through apps.

The number of pharmacies dispensing prescription drugs have have seen an increase since the pandemic hit in the year 2020. The industry has seen a ten per cent hike in prescriptions since then. The impact of the e-prescription method is likely to affect those still clinging to traditional methods of distributing medicines.

What Is the e-prescripiton method?

In the e-prescription method, the prescription is shared via the electronic mode of using mobile, tablets and computers for pharmaceuticals. The process utilizes a special software and network for the transmission of the same. A few of the benefits of e-pharmacy are error-free medication, convenience and speed. A provider can request for prescription online. In Japan engendered by covid pandemic online contact with doctors was allowed along with initial patient consultation.

Medicine Distribution Method In Japan

As per reports the prices of medicines are decided by the government and are fixed in nature. It is believed that the e-prescription method would not make a significant addition to prices besides shipping charges.

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