Role of Digital Marketplaces in Reducing the Cost of Prescription Drugs

DOI: https://doi.org/10.63345/ijrmp.v10.i12.2

Deepak Rawat

Independent Researcher

Kaulagarh, Uttarakhand, India

Abstract

This manuscript explores the transformative role of digital marketplaces in lowering the cost of prescription drugs. Over the past two decades, the convergence of healthcare and digital innovation has given rise to platforms that streamline the process of drug procurement, enhance transparency, and facilitate competitive pricing. This paper reviews the evolution of digital marketplaces, examining their operational frameworks, regulatory challenges, and economic impacts. The literature review synthesizes studies up to 2020 that address the cost drivers in pharmaceutical supply chains and the effects of digitalization on market efficiency. Our mixed-methods research employs both quantitative data analysis and qualitative interviews with key stakeholders—including pharmacists, digital health entrepreneurs, and healthcare policy experts—to assess the impact of digital marketplaces on drug pricing. The findings indicate that digital marketplaces can significantly reduce overhead costs, improve price transparency, and enable consumers to make informed purchasing decisions. Nonetheless, challenges such as regulatory compliance, data security, and integration with existing healthcare systems remain. The manuscript concludes with recommendations for policymakers and digital health innovators to harness the full potential of these platforms while ensuring equitable access to affordable prescription drugs.

Keywords

Digital marketplaces; prescription drug costs; healthcare innovation; price transparency; pharmaceutical supply chain.

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