Consumerization of Healthcare Expands Beyond Lifestyle Products to Tackle Covid-19
A number of regulatory changes have enabled healthcare brands to become consumerized in a unique fashion, resulting in several of the fastest growing companies in history. As regulators have become more sophisticated about different modalities around telemedicine and pharmacy, opportunities have been unlocked by healthcare and supply chain entrepreneurial experts to make a significant impact on the lives of patients and physicians alike. The consumerization of healthcare is a movement dominated by lifestyle brands covering the categories of erectile dysfunction, skincare, and contraception. Companies such as Ro and Nurx have created household brands like Procter & Gamble (NYSE: PG) and Unilever (NYSE:UL). The movement has been defined by increasing affordability of medications and healthcare services, improved convenience for consumers, and transforming medicalized information into content understood by the everyday consumer.