The global telepharmacy market is anticipated to thrive on the advent of newer and enhanced patient care and telecommunications technologies. The market is expected to expand at a significant rate in coming years. Developments in the field of telepharmacy are also anticipated to positively affect the telehealth and telemedicine markets by furthering their reach in various geographical regions in the world. Services in the global telepharmacy market consist of delivering pharmaceutical care products as well as performing verification of the medication order via telecommunications technologies such as phones from a remote area. This allows patients to access medicines and medical products while comfortably resting at their homes. This trend is expected to bolster the growing global telepharmacy market in near future.
Remote pharmacy programs and services offered by players in global telepharmacy market allows population in medically inaccessible and rural areas to avail pharmaceutical products. Since a pharmacist cannot be present in every geographical area all the time, these services aid in the timely delivery of essential healthcare products and medications in hard to reach areas or rural parts that are distant from the urban areas. Remote pharmacy platforms and programs offered by players in global telepharmacy market enable the population to avail services of licensed clinical pharmacists 24 by 7. These platforms also enable prescription verification and virtual medication review in real time.
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Pharmacists are essential onsite assets in hospitals and other healthcare facilities as they can review and modify the medication if required. This creates a need for a physical or at least a remote pharmacist to be associated with a healthcare organization or facility. Services in global telepharmacy market can prove to be a great alternative solution for remote and rural areas where a local pharmacist is not available or unaffordable by healthcare facilities running on limited budget. By availing services through companies in global telepharmacy market, hospitals and clinics in rural areas can split the cost of the telepharmacy service and provide enhanced medical care to their patients.
Services in the global telepharmacy market have expanded in terms of end-users in the past few years. Now they can be availed by rural healthcare centers, long-term medical care or assisted living facilities, prisons, physician or specialist offices, military bases, and naval ships. This has increased the demand for services in the global telepharmacy market. Integration of novel technologies and smarter deployment avenues have created lucrative opportunities for the players in global telepharmacy market.
PipelineRx Rises as One of the Leading Players in Global Telepharmacy Market
Innovative telepharmacy solutions by industry players are expected to propel interest in the global telepharmacy market in coming years. For example, a remote pharmacy technology developed by a company based in San Francisco, called ‘PipelineRx’ provides helpful services that make the job of a remote pharmacist easy. The platform designed by the company can receive orders, access database created by computerized physician order entry (CPOE) platform, and fax the orders. This program is proving to be beneficial for the population living in rural areas. Players in global telepharmacy market aim to provide tailor made and efficient solutions for hospitals to manage their pharmacy operations efficiently. Platforms and technologies such as the one designed by PipelineRx are expected to boost the global telepharmacy market in near future.
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Some of the most prominent players operating within the global telepharmacy market are PipelineRx, Medication Review, Inc., North West TelePharmacy Solutions, and Telepharmacy Solutions, Inc. PipelineRx is one of the topmost players in the global telepharmacy market that focuses on providing clinical telepharmacy solutions. They recently announced a round of funding by AMN Healthcare, Mitsui & Co, Inc., and McKesson Ventures of US$ 9.1 MN. The aforementioned investment is going to be used by PipelineRx to enhance their technological offerings to consumers. They are integrating new technologies such as enhanced workflow models for improved patient care and integrated delivery network (IDN).