United States E-pharmacy Market to Grow with a Double Digit CAGR until 2026
Increasing penetration of digital sources are driving the growth of United States E-pharmacy Market, in the forecast period.
According to TechSci report on, “United States E-pharmacy Market By Product Type (Prescription Medicines v/s Over-The-Counter Medicines) By Therapy Area (Vitamins, Cold & Flu, Dermatology, Weight Loss, Others) By Operating Platform (Apps v/s Websites) By Region, Competition Forecast & Opportunities, 2026”,United States e-pharmacy market has shown promising growth in historical years until 2019 and is expected to continue its growth in upcoming forecast years 2021 to 2026. United States e-pharmacy market owes its growth to the factors like surge in the demand of the online sale of the demanded medicines and therapeutics for the satisfaction of consumer requests. Moreover, rapidly rising internet of things, and e-services sector, the market for e-pharmacy in the United States is expected to register rapid growth in the upcoming five years. Also, rising number of internet consumers, rapid growth in the number of smart phone users, increased access to the web services and rising implementations of e-prescriptions in hospitals and other healthcare services is expected to support the growth of the United States e-pharmacy market in the future five years.
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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 therapy area, the market is further bifurcated into vitamins, cold & flu, dermatology, weight loss, and others. Vitamins are anticipated to hold the largest revenue shares of the market segment, in the upcoming five years on the account of surge in the demand. Moreover, health conscious consumers and parents are often self-medicating themselves as well as their kids. This factor has driven the growth of the market in the historical years and is anticipated to drive the market growth in the future five years too. Also, cold & flu medicines are anticipated to register the fastest growth due to the recent outbreak of COVID-19 virus. One of the major symptoms of the viral infection is cold & flu and thus the demand has surged and is expected to show a robust jump in the CAGR in next five years.
Based on operating platform, the market is divided between mobile apps and websites. Until past few years, e-commerce for the medicines and drugs were carried out through the online websites of the pharmaceutical companies or the major pharmacy websites only. Thus, websites held a larger share of the market. But, with the changing trends, modernizing approach, technical advancement, many websites have now launched their mobile applications. With the internet connection and easier user interface, now, the e-pharmacy sector simply enjoys the functioning of mobile apps and consumers can swiftly make purchases with or without a legal prescription. Mobile apps are expected to register fastest growing CAGR in the next five years on the account of mentioned drivers.
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.
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“The United States is the most penetrated market in the North American region. Large number of internet users and higher adoptions of online services are playing major roles in uplifting the market in the country. Moreover, presence of global market players in the country is also anticipated to drive the market growth. E-commerce has taken a major role in the development of the economy of the country and the healthcare industry of the country. With available distribution and suppliers, the market might be tough but has a lot of capacity for growth in the future five years,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“United States E-pharmacy Market By Product Type (Prescription Medicines v/s Over-The-Counter Medicines) By Therapy Area (Vitamins, Cold & Flu, Dermatology, Weight Loss, Others) By Operating Platform (Apps v/s Websites) By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of United States e-pharmacy market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in United States e-pharmacy market.
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