- The consolidation of corporate pharmacy chains and constantly increasing competition are two of the main factors contributing to the problems facing independent and community pharmacies
- The pharmaceutical sector is incredibly lucrative, with large players such as Amazon also attempting to secure part of the market; as a result of such large developments, community pharmacies have been experiencing declining profits and margins
- Trxade Group is working to empower independent pharmacy owners by providing valuable support and information about affordable supplying options; access to real-time information gives small pharmacies the tools needed to compete against large industry players
Growing competition and the consolidation of corporate pharmacy chains are two of the biggest challenges that small and independent pharmacies have to overcome. Companies like Trxade Group Inc. (OTCQB: TRXD) are working on the development of technological solutions that will enable small industry players to remain competitive.
A number of pharmacy chains dominate the prescription drug market in the U.S. Statistics from 2018 suggest that the biggest industry player alone holds 24.2 percent of the market, followed by the second largest chain, which holds…
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