The mail order pharmacy market was valued at US$ 48,977 million in 2019 and is projected to reach US$ 166,384.85 million by 2027; it is expected to grow at a CAGR of 16.5% from 2020 to 2027.
Mail-order pharmacy operates over the internet and sends orders through e-mail, shipping companies, or online pharmacy web portal. Mail order pharmacy delivers medication at doorstep. These are cheaper and more convenient than a local pharmacy. The adoption of mail order pharmacy services has grown at unprecedent rate in last few years owing to the increasing adoption of online services in healthcare sector. Additionally, aging population, increasing prevalence of chronic diseases, and non-adherence to prescribed medications are further emphasizing on the adoption of mail order pharmacy worldwide. Moreover, increasing investment in mail order pharmacy start-ups is expected to foster the market growth during the forecast period. However, less adoption in low- and -middle income economies due to less penetration of e-commerce is restricting the market growth.
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As North America has been witnessing growing number of COVID-19 cases since the viral outbreak, the healthcare professionals realized that the development of electronic prescriptions using technological platforms is essential to mitigate this unprecedented crisis. Hence, a greater number of patients as well as healthcare professionals have shifted their focus to mail or courier to get their prescription drugs during lockdown. This shift in consumer behavior is expected to continue even after the cessation of pandemic. Therefore, pandemic situation has positively impacted the mail order pharmacy market in North America.
Based on product, the mail order pharmacy market is segmented into diabetic drugs, asthma drugs, blood pressure medications, cardiovascular medicines, cold and flu, antacids, painkillers, dermal care, and other. The dermal care segment held the largest share of the market in 2019; whereas, the diabetes segment is anticipated to register the highest CAGR during the forecast period. The growth of diabetes segment can be attributed to the rising prevalence of diabetes and the increasing number of online pharmacies distributing diabetic drugs. Moreover, some of the online pharmacies have launched various diabetic care initiatives that are driving the growth of the segment. For instance, Express Scripts has launched Diabetes Care Value Program which is aimed at better patient outcomes and control of rapidly increasing costs of diabetic drug products.
Our expert team is consistently working on updated data and information of key player’s related business processes which values the market. For future strategies and predictions, we provide special section regarding covid-19 situation.
Due to the pandemic, we have included a special section on the Impact of COVID 19 on the Mail Order Pharmacy Market which would mention How the Covid-19 is Affecting the Market Trends and Potential Opportunities in the COVID-19 Landscape, Covid-19 Impact on Key Regions and Proposal for Disposable Incontinence Products (DIPs) Players to fight Covid-19 Impact.
As per the WHO, cardiovascular diseases (CVDs) are the number 1 cause of death among people owing to the hectic lifestyle, taking an estimated 17.9 million lives each year. Diabetes is one of the life-threatening chronic diseases with no functional cure. Diabetes of all types can further lead to various complications in different parts of the body and can increase the overall risk of premature death. According to the International Diabetes Federation (IDF), in 2019, ~463 million adults were having diabetes, and the number is expected to reach 700 million by 2045 worldwide. Medication adherence in case of chronic diseases can offer positive health outcomes, with a reduction in hospitalizations and costs. However, as per the Journal of Managed Care & Specialty Pharmacy, medication adherence for the treatment of chronic diseases is still poor among the population, with less than 50% of patients taking their medications as prescribed.
For instance, various insurance companies provide financial incentives to make filling prescriptions via mail-order pharmacies that is considered less expensive for patients. Mail order pharmacy service is typically offered for drugs used for chronic conditions such as high cholesterol, asthma, high blood pressure, diabetes, and depression. Through this, the customer gets medicine for 90 days rather than getting prescription refilled every month. Therefore, increasing medication non-adherence, aging population, and convenience over traditional methods are expected to drive the growth of the mail order pharmacy market during the forecast period.
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