Pharmacies of the Future

The future of pharmacies relies on advanced technologies like Machine Learning, virtual reality, and cloud computing. These innovations enhance patient care by providing immersive experiences, optimizing prescription monitoring, and streamlining operations. As the industry evolves, pharmacies are poised to transform medication management and improve healthcare outcomes.

In the future, pharmacies will depend on advanced technologies such as Machine Learning (ML), deep learning through neural networks and cloud computing to improve patient care. These technologies have the potential to revolutionize the way medications are prescribed, dispensed, and monitored. The integration of Internet of Things (IoT) devices in pharmacies will enable real-time monitoring of medication inventory, ensuring timely restocking and reducing shortages. This connectivity will also facilitate remote patient monitoring, allowing pharmacists to track patient adherence and provide personalized interventions.

Let us look at the most promising technology that are poised to transform the industry:

Virtual Reality (VR)

The use of VR in medicine is proving to be a promising lead with its potential to create an immersive and engaging experience for patients.

According to a report by Grand View Research, the global VR in healthcare market is expected to reach $7.05 billion by 2026. This is because of the growing use of VR in medical training, therapy, and rehabilitation.

In pharmacies, VR/AR can be used to simulate the effects of medication or provide educational resources to patients. Such an approach will help them better understand their medication regimen and the potential side effects. In addition, VR/AR can be used to train pharmacists and pharmacy technicians, improving their skills and knowledge.

Prescription Monitoring

Another area where AI is being used is in prescription monitoring. Philips has developed an AI-powered prescription monitoring system. This system analyzes electronic medical records to identify patients who may not take their medicines on time.

The system also provides real-time alerts to healthcare providers to intervene before a patient’s condition worsens. According to Philips, the system has helped reduce the number of medication-related hospital readmissions by up to 60%, improving patient outcomes and reducing healthcare costs.

Cloud computing

Cloud is another technology that can transform the pharmacy industry. Cloud-based platforms can help pharmacies streamline their operations, improve their data analytics capabilities, and enhance collaboration with other healthcare providers.

According to a report by MarketsandMarkets, the global healthcare cloud computing market is expected to reach $64.7 billion by 2025. This is because of the growing need for secure and scalable data storage and management solutions. By migrating to the cloud, pharmacies can improve their cybersecurity posture through encryption, multi-factor authentication, and intrusion detection/prevention systems.

The Everest Group, a leading global research firm has published a report on emerging themes in life science analytics.

The pharmacies of the future will be powered by advanced technologies. This will enable them to provide better patient care, improve efficiency, and reduce healthcare costs. As these technologies continue to evolve, it is likely that we will see even more innovative use cases emerge, further improving the way medications are prescribed, dispensed, and monitored.

Most Popular

Let's Connect

Please enable JavaScript in your browser to complete this form.

Join Factspan Community

Subscribe to our newsletter

Related Articles

Add Your Heading Text Here


Modernizing Medication Management: Data-driven Approach to Pyxis MedStation

Delve into the significance of Pyxis MedStation in healthcare, highlighting its challenges and the data-driven solutions offered by Factspan. Discover how analytics improves medication management, saving costs and enhancing patient care in the process

Read More ...

Meta’s LLAMA 2 Vs Open AI’s ChatGPT

Explore the world of cutting-edge AI with a detailed analysis of Meta’s LLaMA and OpenAI’s ChatGPT. Uncover their workings, advantages, and considerations to help you make the right choice for your specific needs. Dive into the future of AI and its profound impact on content creation and data analysis.

Read More ...

Data Contract Implementation in a Kafka Project: Ensuring Data Consistency and Adaptability

Data contracts are essential for ensuring data consistency and adaptability in data engineering projects. This blog explains how to implement data contract in a Kafka project and how it can be utilized to solve data quality and inconsistency issues.

Read More ...

CDP: A band-aid solution?

Step into the world of Customer Data Platforms (CDPs) with our captivating blog, designed to guide you through every angle. Discover the origin story of CDPs – why they stepped into the spotlight. Uncover their true essence and explore the four common categories they belong to. Delve into real-life scenarios with eight compelling use cases that are revolutionizing businesses today. Tackle the question: are CDPs a quick fix or a sustainable solution? And don’t shy away from addressing the challenges that come with CDP territory. Wrapping it all up, you’ll find key takeaways that provide fresh insights into this dynamic technology.

Read More ...

The Magical Transformation: How Nike Used Marketing Intelligence to Win the Game

Discover how Marketing Intelligence and Generative AI shape effective strategies. Learn from Nike’s success against Adidas in 2018. Dive into personalized content, automation, and insights.

Read More ...

Web 3.0: Transforming the Future of E-commerce

With Web 3.0, users will experience heightened control over their data, leading to faster and safer transactions. For businesses, this paradigm shift will necessitate embracing AI, blockchain, and machine learning technologies to better connect with customers and thrive in this new era of digital commerce.

Read More ...