- The
global online pharmacy market is expected to continue growing rapidly
through 2024, at a CAGR of 17.5 percent
- Innovative
pharmaceutical solutions providers like Trxade Group are set to benefit
from this trend
- Trxade
Group already offers a web-based platform for supplying local independent
pharmacies in the U.S., and the company’s mobile app gives patients access
to same-day prescription medication deliveries
The global online pharmaceuticals market is projected to
grow rapidly, at a CAGR of 17.5 percent through 2024, as detailed in a report
titled ‘The Online Pharmacy Market: Global Industry Analysis’ from
ResearchAndMarkets.com (http://ibn.fm/e7n2q).
Several factors are expected to contribute to the growth, such as increased
internet usage around the world, better health care infrastructure development
and rising awareness about the benefits of ecommerce transactions.
By 2023, the global online pharmacy market is anticipated to
reach $128 billion, in comparison to $29.4 billion in 2014 (http://ibn.fm/9NM9i). Companies
like Trxade Group Inc. (OTCQB: TRXD) are contributing to
the realization of such trends through innovative developments and easy access
to user-friendly web-based services.
The Trxade online pharmaceutical purchasing platform helps
independent pharmacies operating in the U.S. to identify the best possible
suppliers and prices. Currently, Trxade operates the largest online
pharmaceutical marketplace in the U.S. that reduces annual pharmacy purchase
costs by anywhere from seven to 10 percent, on average.
To participate in the platform, pharmacies pay no fees or
recurrent memberships. Additionally, the platform prioritizes the
user-friendliness of its layout to ensure effortless price and supplier
comparisons. Trxade Group earns from transaction fees that sellers have to pay
via the platform. In addition, the company focuses on the consumer side of the
pharmaceutical industry. A simplified buying process and transparency in terms
of pricing are both prioritized. In addition, the company ensures reliable
delivery directly to independent pharmacists and consumers.
The company continues working in that direction to offer
more innovative, faster and reliable services to consumers in the U.S. Trxade
Group recently announced the launch of same-day prescription deliveries via its
DelivMeds app (http://ibn.fm/5KbrK).
DelivMeds employs artificial intelligence (AI) to determine the best
transportation methods and ensure same-day prescription deliveries. Through the
app, patients can get same-day dispensed prescriptions and medication refills
from local, independent pharmacists.
According to Trxade Group CEO Suren Ajjarapu, the platform
is currently indirectly delivering drugs to over 12 million consumers through
the company’s independent pharmacy network. The Trxade Group network of
independent pharmacies features 10,250 businesses, and the target is set at
24,000 U.S. independent pharmacies.
DelivMeds is available for free download via Google Play and
the Apple App Store. The app’s emphasis on local, independent pharmacies allows
for personalized services and a focus on quality patient care, Ajjarapu said in
a news release. Hence, the model works in the patient’s best interest,
especially when people cannot wait more than a day to receive their
prescription medications.
Trxade Group is an integrated pharmaceutical services
company that offers a unique combination of an online purchasing platform, a
network of pharmacies with E-Hub software, a mail order pharmacy and an
extensive drug distributors network. The company was founded in 2010 in Tampa,
Florida. Ever since the start, its primary goal has been to penetrate the
extensive independent pharmacy market and diversify the company’s
pharmaceutical mix with specialty and acute care products.
For more information, visit the company’s website at www.TrxadeGroup.com
NOTE TO INVESTORS: The latest news and updates
relating to TRXD are available in the company’s newsroom athttp://ibn.fm/TRXD
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www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
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