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By Tom Utech
The U.S. pharmacy market is on a trajectory of significant expansion, with projections indicating a market size of $861.67 billion by 2028, representing remarkable growth of 61.3% since 2020. The surge in market value is driven by factors such as an aging population, increasing prevalence of chronic diseases and high utilization of prescription drugs. However, this growth is accompanied by a critical challenge: a persistent shortage of pharmacy staff.
Despite the market’s robust growth, pharmacies across the nation are struggling with severe staffing shortages. A survey by the National Community Pharmacists Association revealed that 88% of respondents identified finding pharmacy technicians as their primary challenge. The shortage is further exacerbated by declining enrollment in pharmacy programs, as reported by the American Association of Colleges of Pharmacy.
To address these challenges while continuing to meet growing demand, pharmacies are increasingly turning to innovative technological solutions.
Centralized fulfillment solutions offer a promising approach to enhance efficiency and optimize pharmacy operations. These solutions automate routine tasks such as pill counting, inspection and packaging. They can be tailored to pharmacies of all sizes. By shifting fulfillment work to a central location, pharmacies can reduce the repetitive, low-value tasks being completed in the store.
Pharmacy fulfillment solutions are certainly not one-size-fits-all. Options include:
• Centralized pharmacy fulfillment: Scalable solutions supporting pharmacies of any size from a central location.
• Community pharmacy fulfillment: Customizable configurations for smaller pharmacies.
• Shared centralized fulfillment: Allowing multiple pharmacies to access fulfillment services from a shared, centralized location.
When choosing pharmacy fulfillment solutions, several key factors must be evaluated:
• Type of pharmacy business.
• Prescription volume.
• Available square footage.
• Number of pharmacies requiring support.
• Types of services provided.
By leveraging these technological advancements, pharmacies can not only address staffing shortages but also elevate the role of pharmacists. This shift could allow pharmacists to focus on patient-facing care including:
• Delivering immunizations.
• Conducting point-of-care testing.
• Providing consultations.
• Diagnosing and treating patients.
As the U.S. pharmacy market continues this upward trajectory, the integration of advanced fulfillment technologies will be crucial in bridging the gap between growing demand and limited staffing resources. These solutions promise to reshape the pharmacy landscape, ensuring efficient operations and enhanced patient care.
Tom Utech is chief executive officer of iA.
