Overview and Scope
A mail-order pharmacy is a drugstore that accepts online orders and mails orders to customers. It is used to conveniently order and manage prescriptions using a smartphone or computer.
Sizing and Forecast
The mail order pharmacy market size has grown rapidly in recent years. It will grow from $92.72 billion in 2023 to $108.8 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to growth of chronic conditions, rising healthcare costs, aging population, increased focus on convenience and accessibility, growing demand for online pharmacies.
The mail order pharmacy market size is expected to see rapid growth in the next few years. It will grow to $206.97 billion in 2028 at a compound annual growth rate (CAGR) of 17.4%. The growth in the forecast period can be attributed to increasing adoption of telemedicine, expansion of specialty medication coverage, personalized medicine, increasing focus on patient-centric care, global health events and pandemics, e-commerce growth, digital health platforms. Major trends in the forecast period include technological advancements, ai and automation in prescription processing, artificial intelligence and machine learning in healthcare, delivery innovations, focus on sustainability in packing medicines, insurance provider partnerships.
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Segmentation & Regional Insights
The mail order pharmacy market covered in this report is segmented –
1) By Product Type: Dermal Care, Diabetes, Cardiovascular Medicines, Blood Pressure, Asthma, Cold And Flu, Painkillers, Antacids, Other Products
2) By Drug Type: Non-Prescription Drugs, Prescription Drugs
3) By Mode Of Order: Online Store, Pharmacy Apps
North America was the largest region in the mail-order pharmacy market in 2023. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mail order pharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The increase in the adoption of e-commerce is driving the mail-order pharmacy market going forward. E-commerce refers to exchanging goods and services, sending money or data over an electronic network, or all three. Mail-order pharmacies help customers order medications and prescription refills using e-commerce technologies from the convenience of their homes or even while on the road using a mobile app on their phone or tablet. For instance, in October 2021, according to a report published by the International Trade Administration, a US-based agency, it is expected that e-commerce for consumer goods would account for about 22% of all retail sales worldwide, growing at an average rate of over 1% by 2024. Retail e-commerce sales also point to a consistent, long-term increase of 8% in all global retail e-commerce sales through 2024. Therefore, the increase in the adoption of e-commerce is driving the mail-order pharmacy market.
Key Industry Players
Major companies operating in the mail order pharmacy market report are CVS Health Corporation, UnitedHealth Group Inc., Accredo Health Group Inc., McKesson Corporation, Cigna, Cardinal Health, Walgreen Co., OptumRx Inc., Humana Pharmacy, Aetna Inc., Wellcare Health Plans Inc., Prime Therapeutics LLC., Express Scripts Inc., Zur Rose Group AG, CHI Health, MedImpact, Remedi SeniorCare Holding Corporation, RxAdvance Corporation, WellDyneRx Inc., PillPack Inc., BeneCard Services Inc., DocMorris N.V., EnvisionPharmacies, Freedom Fertility Pharmacy, Canada Drugs Online, Elixir Rx Solutions LLC., eDrugstore, Simple Meds LLC., SANICARE, Apex Specialty Pharmacy
The mail order pharmacy market report table of contents includes:
1. Executive Summary
2. Mail Order Pharmacy Market Characteristics
3. Mail Order Pharmacy Market Trends And Strategies
4. Mail Order Pharmacy Market – Macro Economic Scenario
5. Global Mail Order Pharmacy Market Size and Growth
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32. Global Mail Order Pharmacy Market Competitive Benchmarking
33. Global Mail Order Pharmacy Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Mail Order Pharmacy Market
35. Mail Order Pharmacy Market Future Outlook and Potential Analysis
36. Appendix
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