DUBLIN, October 4, 2021 / PRNewswire / – The “US Electronic Pharmacy Market, By Product Type (Prescription vs. Nonprescription Drug), By Therapeutic Area (Vitamins, Colds & Flu, Dermatology, Weight Loss, Others), By Plate – Operating form (apps vs websites), by region, competition forecast and opportunities, 2027 “report has been added to ResearchAndMarkets.com offer.
United States Electronic pharmacy market to generate significant growth over the forecast years, 2022-2026
The growth of the market is attributed to factors such as increased internet penetration and improved healthcare infrastructure.
Additionally, increased consumer awareness of the online pharmacy industry and the availability of drugs and therapeutics with the convenience of home delivery is driving the growth of United States e-pharmacy market in the next five years. Additionally, the increase in the geriatric population and their isolated dwellings has driven up the demand for the availability of required drugs in online stores, which is another major factor behind the impressive growth of United States e-pharmacy market.
In addition, the healthcare industry has readily adopted advanced technologies such as the digitization of drug records and descriptions, as well as the increasing adoption of e-commerce in the healthcare industry is expected to propel the growth of United States e-pharmacy market in the next five years.
Electronic pharmacy is the online pharmacy that delivers drugs and therapeutic products by shipping and courier service to consumers or patients. Online stores are very accessible for over-the-counter drugs, although for prescription drugs, the consumer must provide a doctor’s note or an appropriate prescription signed by the legal healthcare professional. Payment methods also include net banking, card payments, mobile app payments, and cash on delivery payments.
United States The electronic pharmacy market is segmented on the basis of product type, therapy area, operating platform, regional distribution, and competitive analysis. Based on the type of product, the market is divided into prescription drugs and over the counter drugs. Prescription drugs are disease-specific drugs that can only be provided if an appropriate legal prescription is provided.
These medications often include strong pain relievers that contain opioids, depressants, and stimulants. These drugs, if left unchecked, could be used in cases of excessive drug addiction, so an appropriate prescription for the sale of these drugs is required. Over-the-counter drugs are also called over-the-counter drugs. Food and Drug Administration in United States decides whether the drug in question is an over-the-counter drug or a prescription drug. Over-the-counter medications can relieve aches, pains, and itching.
Some can be used to prevent tooth decay or athlete’s foot or can help with certain allergies. Over-the-counter drugs are expected to hold the largest revenue shares in the market and assert their dominance on the backbone of their reliability, lack of prescription demand, and the convenience for consumers to purchase them.
Market players plan to provide maximum convenience to consumers and patients by providing a variant of the drugs. With the delivery possible and the easier accessibility of drugs, suppliers are trying to attract more customers. In addition, partnerships between e-pharmacy providers and pharmaceutical companies are proving to be beneficial for the market as well as for consumers.
In addition, market players adapt various marketing strategies such as acquisitions. For example, last year in december 2020, Express Scripts Holdings introduced “Express Scripts Parachute Rx” which offers significant discounts on prescription drugs, with the aim of providing affordable drugs during the COVID-19 situation.
Holding the largest shares of United States e-pharmacy market, a partial list of market players includes
- CVS Caremark Corporation (CVS Healthcare)
- Walgreen Company
- Familymeds, Inc
- Amazon Pharmacy
- Walmart Pharmacy
- Rite Aid Corporation
- The Kroger company
- Cigna Corp.
- Optum Rx, Inc
- Giant Eagle, Inc.
Scope of the report:
Years considered for this report:
- Historic years: 2016 – 2019
- Baseline year: 2020
- Estimated year: 2021
- Forecast period: 2022 – 2026
United States Electronic Pharmacy Market, By Product Type:
- Prescription drug
- Over-the-counter medication
United States Electronic Pharmacy Market, By Therapeutic Area:
- Common cold
United States Electronic Pharmacy Market, By Operating Platform:
United States Electronic Pharmacy Market, By Region:
- South West
For more information on this report, visit https://www.researchandmarkets.com/r/j9jiwp
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SOURCE Research and Markets