U.S. Online Pharmacy Market Outlook & Forecast 2021-2026: Key Players are Kroger, CVS Health, CIGNA (Express Scripts), Walgreens Boots Alliance, and Rite Aid - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "U.S. Online Pharmacy Market - Industry Outlook & Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering.

The U.S. online pharmacy market by revenue is expected to grow at a CAGR of approx. 19% during the period 2020-2026.

Automated prescription filling, automated customer relationship management, direct-to-the-patient sales of medicines are other major factors increasing the adoption of online pharmacies across the US.

The market is shifting toward the direct-to-patient model as the ever-expanding digital world opens doors to new services and consumer-friendly online experiences. The ease and familiarity of online purchasing attract several patients to search for virtual care medications and wellness options.

This has increased online pharmacies to advertise more and acquire more consumers through digital platforms. The COVID-19 pandemic has further accelerated this shift as most healthcare professionals and patients have adapted to the virtual way to purchase medicines. The trend expects to increase drastically across the US post-COVID-19.

U.S. ONLINE PHARMACY MARKET SEGMENTATION

The U.S. online pharmacy market research report includes a detailed segmentation by drug type, product, modality, pharmacy type. The prescription-based US online pharmacy market is likely to cross USD 132 billion by 2026.

A significant factor driving the growth of prescription-based medicines via online mode is cost-efficiency. Consumers prefer to purchase drugs from online stores as they offer medications at a low price than retail outlets. Among US adults prescription-taking medications, 1.5% reported having purchased medicines outside the US due to high costs. Hence, online pharmacies are seen as the best solution for providing prescription medications at discounted prices, thereby observing growth.

In 2020, the medication segment accounted for approx. 76% in the U.S. online pharmacy market share. The increase in the patient population along with the increased geriatric population is increasing the demand for medications. There is an increase in consumers preferring online pharmacy platforms to purchase medicines due to high purchase convenience. Many customers and patients prefer using online pharmacies for refilling long-term medications.

The mobile app-based segment will likely grow at a CAGR of over 19% from 2020 to 2026. Mobile applications play a significant role in the global online pharmacy market. They help online pharmacies to get in touch with consumers directly, thereby increasing the patient base. Mobile applications help online pharmacies to position their pharmacies effectively.

Mobile applications providing refill prescription facilities, secure two-way messaging, HIPAA compliant mobile app will increase the customer base for online pharmacies. Vendors prioritize digital advertising and marketing to attract more audience as many patients spend their time online.

The U.S. online pharmacy market by the online branch of brick and mortar expects to reach approx. USD 80 billion by 2026. Most retail companies in the US tend to own an online channel to promote their products and increase the customer base. This trend has been prevalent in the US for a long period. However, during the COVID-19 pandemic, the country further accelerated the adoption of online pharmacy channels.

INSIGHTS BY VENDORS

The U.S. online pharmacy market is witnessing a steady flow of start-ups entering the industry. The COVID-19 pandemic has increased the importance of online pharmacies in the country.

Many physicians, patients, and healthcare providers have increased the adoption of telehealth, which has increased the number of teleconsultations in the country. Large hospitals have received 500% more online consultations, and e-prescriptions among healthcare providers have also increased.

These factors have accelerated the growth of the online pharmacy market in the US. A change in consumer behavior patterns has increased opportunities for market growth. However, strict adherence to regulatory guidelines and the prevalence of counterfeiting and fake websites selling unhealthy products are hindering the market.

Kroger, CVS Health, CIGNA (Express Scripts), Walgreens Boots Alliance, and Rite Aid are the key players in the U.S. online pharmacy market.

Key Topics Covered:

1 Research Methodology

2 Research Objectives

3 Research Process

4 Scope & Coverage

5 Report Assumptions & Caveats

5.1 Key Caveats

5.2 Currency Conversion

5.3 Market Derivation

6 Market at a Glance

7 Introduction

7.1 Overview

7.2 Impact Of COVID-19 On Us Online Pharmacy

7.3 Regulations For Online Pharmacies In US

7.4 E-Pharmacy Comparison In US Versus Global Market

7.5 Online Pharmacy Start-Ups and Their Investments

8 Market Opportunities & Trends

8.1 Rise In Direct-To-Patient Drug Sales

8.2 Increase In Demand For Advanced E-Commerce Technologies

8.3 High Adoption Of E-Prescriptions Among US Customers

9 Market Growth Enablers

9.1 Increasing Teleconsultation And Diagnostic Support

9.2 Growing Penetration Of Internet And Mobile Applications

9.3 High Adoption Of Automated Prescription Refill And CRM Solutions

10 Market Restraints

10.1 Sale Of Unapproved Drugs And FDA Warnings

10.2 Competition From Traditional And Medical Product Retailers

10.3 Strict Regulatory Framework For Online Sale Of Drugs

11 Market Landscape

11.1 Market Overview

11.2 Market Size & Forecast

11.3 Five Forces Analysis

12 Drug Type

12.1 Market Snapshot & Growth Engine

12.2 Market Overview

12.3 Prescription

12.4 Over The Counter (OTC)

13 Product

13.1 Market Snapshot & Growth Engine

13.2 Market Overview

13.3 Medication

13.4 Health, Wellness, & Nutrition

13.5 Personal Care

14 Modality

14.1 Market Snapshot & Growth Engine

14.2 Market Overview

14.3 Mobile Application

14.4 Web Based

15 Pharmacy Type

15.1 Market Snapshot & Growth Engine

15.2 Market Overview

15.3 Online Branch Of Brick & Mortar Pharmacy

15.4 Independent Online-Only Pharmacies

15.5 Partnership Site With Neighborhood Pharmacies

16 Competitive Landscape

16.1 Competition Overview

16.2 Market Share Analysis

Prominent Vendors

• Kroger
• CVS Health
• CIGNA (Express Scripts)
• Walgreens Boots Alliance
• Rite Aid

Other Prominent Vendors

• Alto Pharmacy
• Blink Health
• BioPlus Specialty Pharmacy
• Batell Drug
• Carepoint Pharmacy
• Foundation Care
• Fruth Pharmacy
• Giant Eagle
• Gogomeds.com
• Healthwarehouse
• Hi-School Pharmacy
• Hims & Hers Health
• Henry Ford Health System
• Kinney Drugs
• KwikMed
• MedVantx
• Medicure
• Medly Pharmacy
• Northwestpharmacy.com
• OptumRx
• PillPack
• Ro Pharmacy
• Rx-24-online.com
• Walmart Stores
• Woori Pharmacy

For more information about this report visit https://www.researchandmarkets.com/r/cjgjx7