US Online Pharmacy Market Report 2021-2026: Increase

Dublin, June 10, 2021 (GLOBE NEWSWIRE) – The “US Online Pharmacy Market – Industry Outlook and Forecast 2021-2026” report was added to ResearchAndMarkets.com offer.

The US online pharmacy market in terms of revenue is expected to grow at a CAGR of approximately. 19% over the period 2020-2026.

Automated prescription filling, automated customer relationship management, direct selling of drugs to patients are other major factors that are increasing the uptake of online pharmacies in the United States.

The market is moving towards the direct-to-patient model as the ever-expanding digital world opens doors to new services and user-friendly online experiences. The ease and familiarity of shopping online prompts many patients to seek out virtual care drugs and wellness options.

This has prompted online pharmacies to advertise more and acquire more consumers through digital platforms. The COVID-19 pandemic has further accelerated this change, as most healthcare professionals and patients have adapted to the virtual way of buying drugs. The trend is expected to increase dramatically in the United States after COVID-19.

SEGMENTATION OF THE ONLINE PHARMACY MARKET IN THE UNITED STATES

The United States Online Pharmacy Market research report comprises detailed segmentation by drug type, product, modality, and pharmacy type. The US prescription online pharmacy market is expected to exceed $ 132 billion by 2026.

Profitability is an important factor in the growth of prescription drugs via the online mode. Consumers prefer to buy drugs from online stores because they offer drugs at lower prices than retail outlets. Among American adults taking prescription drugs, 1.5% reported purchasing drugs outside of the United States because of the high costs. Hence, online pharmacies are considered to be the best solution to provide prescription drugs at discounted prices, thus watching the growth.

In 2020, the drug segment represented approx. 76% market share of online pharmacies in the United States. The increase in the patient population as well as the increase in the geriatric population increases the demand for drugs. There is an increase in consumers preferring online pharmacy platforms to purchase drugs due to the great convenience of purchasing. Many customers and patients prefer to use online pharmacies to stock up on long-term medications.

The mobile application based segment is likely to grow at a CAGR of over 19% from 2020 to 2026. Mobile applications play an important role in the global online pharmacy market. They help online pharmacies get in direct contact with consumers, thereby increasing the patient base. Mobile applications help online pharmacies to effectively position their pharmacies.

Mobile apps offering prescription refills, secure two-way messaging, and a HIPAA-compliant mobile app will increase the number of online pharmacies. Providers prioritize digital advertising and marketing to attract more audiences, as many patients spend their time online.

The US online pharmacy market by the online brick and mortar branch expects to reach approx. $ 80 billion by 2026. Most retail businesses in the United States tend to have an online channel to promote their products and increase their customer base. This trend has prevailed in the United States for a long time. However, during the COVID-19 pandemic, the country further accelerated the adoption of online pharmacy channels.

SUPPLIER OVERVIEW

The US online pharmacy market is experiencing a constant flow of start-ups entering the industry. The COVID-19 pandemic has increased the importance of online pharmacies in the country.

Many doctors, patients and health care providers have increased the adoption of telehealth, which has increased the number of teleconsultations in the country. Large hospitals received 500% more online consultations and electronic prescriptions among healthcare providers also increased.

These factors have accelerated the growth of the online pharmacy market in United States. A shift in consumer behavior patterns has increased the growth opportunities in the market. However, strict adherence to regulatory guidelines and the prevalence of counterfeiting and bogus websites selling unhealthy products are hampering the market.

Kroger, CVS Health, CIGNA (Express Scripts), Walgreens Boots Alliance and Rite Aid are the main players in the US online pharmacy market.

Leading suppliers

  • Kroger
  • CVS Health
  • CIGNA (Express Scripts)
  • Alliance of Walgreens boots
  • Rite Help

Other important suppliers

  • Alto pharmacy
  • Flashing Health
  • BioPlus Specialized Pharmacy
  • Drug Batell
  • Carepoint pharmacy
  • Foundation care
  • Fruth Pharmacy
  • Giant eagle
  • Gogomeds.com
  • Health warehouse
  • High school pharmacy
  • Health for him and for her
  • Henry Ford Health System
  • Kinney Drugs
  • KwikMed
  • MedVantx
  • Medicine
  • Medly Pharmacy
  • Pharmacie du Nord-Ouest.com
  • OptumRx
  • Pillbox
  • Pharmacy Ro
  • Rx-24-online.com
  • Walmart Stores
  • Woori pharmacy

Main topics covered:

1 Research methodology

2 Research objectives

3 Research process

4 Scope and coverage

5 Hypotheses and caveats in the report
5.1 Key caveats
5.2 Currency conversion
5.3 Market derivation

6 Market overview

7 Presentation
7.1 Overview
7.2 Impact of COVID-19 on Us Online Pharmacy
7.3 Regulations for online pharmacies in the United States
7.4 Comparison of Electronic Pharmacy in US Market vs Global Market
7.5 Online pharmacy start-ups and their investments

8 Market opportunities and trends
8.1 Increase in direct sales of drugs to patients
8.2 Increased demand for advanced e-commerce technologies
8.3 High adoption of electronic prescriptions among US customers

9 market growth catalysts
9.1 Increase in teleconsultation and diagnostic assistance
9.2 Growing Penetration of Internet and Mobile Applications
9.3 High adoption of automated prescription renewal and CRM solutions

10 market restrictions
10.1 Sale of unapproved drugs and FDA warnings
10.2 Competition from traditional and medical product retailers
10.3 Strict regulatory framework for the online sale of medicines

11 Market landscape
11.1 Market overview
11.2 Market Size and Forecast
11.3 Analysis of the five forces

12 Type of drug
12.1 Market Overview and Growth Driver
12.2 Market overview
12.3 Prescription
12.4 Over The Counter (OTC)

13 Product
13.1 Market Overview and Growth Driver
13.2 Market overview
13.3 Medicines
13.4 Health, well-being and nutrition
13.5 Personal care

14 Modality
14.1 Market Overview and Growth Driver
14.2 Market overview
14.3 Mobile application
14.4 Web Based

15 Type of pharmacy
15.1 Market Overview and Growth Driver
15.2 Market overview
15.3 Online branch of the Brick & Mortar pharmacy
15.4 Independent online pharmacies only
15.5 Partnership site with neighborhood pharmacies

16 Competitive landscape
16.1 Competition overview
16.2 Market share analysis

For more information on this report, visit https://www.researchandmarkets.com/r/wor599


        

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