United States e-pharmacy
market is anticipated to project an impressive CAGR growth in the forecast
years, 2022-2026. The market growth attributes to the factors like increased
internet penetration, improved healthcare infrastructure, etc. in the mentioned
forecast period. Moreover, increased awareness among the consumers regarding
e-pharmacy sector and availability of the drugs and therapeutics with the
convenience of home delivery is driving the growth of the United States
e-pharmacy market in the upcoming five years. Also, the increasing geriatric
population and their solitude accommodations has surged the demand of
availability of the required drugs at online stores, which is another major
factor behind the impressive growth of the United States e-pharmacy market. Furthermore,
the healthcare industry has readily adopted the advanced technologies like
digitization of the records and drug descriptions along with the rising
adoption of ecommerce in the healthcare industry is expected to propel the
growth of the United States e-pharmacy market in the next five years.
E-pharmacy is the online drug
stores that supply the drugs and therapeutics through shipping and couriers to
the consumers or patients. The online stores are much feasible for the
non-prescription drugs, although, for the prescription drugs, the consumer must
provide proper doctor’s note or prescription signed by the legal healthcare
practitioner. The payment methods, include net banking, card payments, mobile
app payments, and cash payments at the time of delivery too.
The
United States e-pharmacy market is segmented on the basis of product type,
therapy area, operating platform, regional distribution, and competitional
analysis. Based on
product type, the market is further bifurcated into prescription medicines and
over-the-counter medicines. Prescription medicines are the disease specific
drugs that can only be supplied if a proper legal prescription is provides.
These medicines often include strong pain medication that involves opioids,
depressants, and stimulants. These drugs if kept unchecked might get used for
the excessive drug addiction cases, thus a proper prescription for the sale of
these drugs is required. Over-the-counter drugs are also known as
non-prescription drugs. Food and Drug Administration in United States decides
if the particular drug is over-the-counter medicine or a prescription drug. OTC
medicines may relieve body aches, pains and itches. Some might be utilized to
prevent tooth decay or athlete’s foot or may be help with certain allergies.
OTC medicines are anticipated to hold the larger revenue shares of the market
and assert its dominance on the backbone of its reliability, lack of
prescription demand, and convenience of the consumers to purchase it.
Holding
the largest shares of the United States e-pharmacy market, a partial list of
market players includes CVS Caremark Corporation (CVS Health), Walgreen Company,
Familymeds, Inc, Amazon Pharmacy, Walmart Pharmacy, Rite Aid Corporation, The
Kroger Company, Cigna Corp., Optum Rx, Inc, Giant Eagle, Inc, among others. The
market players are planning to provide the maximum convenience for the
consumers and patients by providing variant of the medicines. With the feasible
delivery and easier accessibility to the drugs the suppliers are trying to
incline more customers. Also, partnerships between the e-pharmacy suppliers and
pharmaceutical companies are turning out to be beneficial for the market as
well as the consumers. Moreover, the market players are adapting various
marketing strategies like acquisitions. For example, last year in December
2020, Express Scripts Holdings introduced “Express Scripts Parachute Rx’’ that
offers extensive discounts on prescription medicines, with an aim to offer
medications at an affordable price during the COVID-19 situation.
Years considered
for this report:
Historical Years: 2016 – 2019
Base Year: 2020
Estimated Year: 2021
Forecast Period: 2022 – 2026
Objective of the Study:
- To analyze the historical
growth of the market size of United States e-pharmacy market from 2016 to
2019.
- To estimate and forecast the market size of United
States e-pharmacy market from 2020 to 2026 and growth rate until
2026.
- To classify and forecast United States e-pharmacy market based on product
type, therapy area, operating platform, competitional landscape, and
regional distribution.
- To identify dominant region or segment in the United
States e-pharmacy market.
- To identify drivers and challenges for United
States e-pharmacy market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in United
States e-pharmacy market.
- To identify and analyze
the profile of leading players operating in United States
e-pharmacy market.
- To identify key sustainable strategies adopted
by market players in United States e-pharmacy market.
Click here to download the sample
TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers, suppliers, and service providers
across the country. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the manufactures which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the manufactures,
distribution channels and presence of all major players across the country.
TechSci Research calculated the market
size of United States e-pharmacy
market using a
bottom-up approach, wherein data for various end-user segments was recorded and
forecast for the future years. TechSci Research sourced these values from the
industry experts and company representatives and externally validated through analyzing
historical data of these product types and applications for getting an
appropriate, overall market size. Various secondary sources such as company
websites, news articles, press releases, company annual reports, investor
presentations and financial reports were also studied by TechSci Research.
Key
Target Audience:
- E-pharmacy manufacturers, end users, and other
stakeholders
- Distributers and suppliers of the products and other
stakeholders
- Organizations, forums, and alliances related to e-pharmacy
products
- Market research and consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, suppliers, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, United States e-pharmacy market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- United States E-Pharmacy Market, By Product Type:
- Prescription Medicine
- Over The Counter Medicine
- United States E-pharmacy Market, By
Therapy Area:
o Vitamins
o Cold & Flu
o Dermatology
o Weight Loss
o Others
- United States E-pharmacy Market, By
Operating Platform:
o Apps
o Websites
- United States E-pharmacy Market, By
Region:
- South West
- Mid-West
- North East
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in United States e-pharmacy market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
United States E-pharmacy
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