North America E-pharmacy Market, By Product Type, and By Country (U.S. and Canada)-Size, Share, Outlook, and Opportunity Analysis, 2023 - 2030

The North America E-pharmacy market is estimated to be valued at US$ 50.9 Bn in 2023 and is expected to exhibit a CAGR of 18.3%during the forecast period (2023-2030).

E-pharmacy, also known as electronic pharmacy or internet pharmacy, is an online retail platform that acts as an intermediary between customers and vendors to enable the sale of medicines. It offers round-the-clock delivery of drugs, access to comprehensive information on prescribed drugs, and transparency in prices. Patients need not physically visit the pharmacies to receive their medication but can instead order the drugs online. E-pharmacy deals with the sales and distribution of pharmaceutical and medical products through online channels. E-pharmacy involves the use of information, communication, and technology in medical products, and services. Any pharmacy can become an e-pharmacy, as long as it has computerized services, an active internet connection, and a working, detailed website. Pharmacies can offer their products and services online website to customers.

Market Dynamics

An increasing adoption of the internet is expected to propel growth of the North America e-pharmacy market over the forecast period. For instance, according to the Pew Research Center, the percentage of households with broadband connections in the U.S. increased from 68% in January 2021 to 77% in February 2022. Moreover, Increasing consumer spending on healthcare and personal care products is expected to drive growth of the North America e-pharmacy market in the region. According to the U.S. National Health Expenditures 2021 Highlights, the U.S. health care spending was US$ 4.3 trillion, accounting to an average spending of around US$ 50,368 per person in 2022. Moreover, the overall share of gross domestic product (GDP) related to healthcare spending increased to 27.9% in 2019 from 21.7% in 2020.

Moreover, an increase in the launch of e-pharmacies in developing countries is expected to drive the market's growth over the forecast period. For instance, in January 2022, Hyphens Pharma International Limited formally launched its WellAway e-pharmacy in Singapore. Kellaway is the first e-pharmacy in Singapore to be registered with the Health Sciences Authority (HSA). It is a digital platform where patients can get e-prescriptions from licensed medical professionals, and the recommended medication will be safely and securely supplied. Such initiatives are expected to drive market growth due to a rise in the adoption of e-pharmacy services in Asian countries.

Key features of the study:

• This report provides an in-depth analysis of the global North America E-pharmacy market and provides market size (US$ Billion) and compound annual growth rate (CAGR) for the forecast period (2023-2030), considering 2022 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global North America E-pharmacy market based on the following parameters-Company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include include CVS Caremark, Zur Rose Group AG, PlanetRX.com Inc., Walgreen Company, Familymeds, Inc, Medisave, The Kroger Co., Cigna, Optum Rx, Inc, Giant Eagle, The Kroger Co., Walmart, Inc., Express Scripts Holding Company, Optum Rx, Inc., Rowlands Pharmacy, Apollo Pharmacy and Netmeds.
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global North America E-pharmacy market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global North America E-pharmacy market

Detailed Segmentation:

• Global North America E-pharmacy Market, By Product Type:
  • Prescription
  • Over-the-counter
• Global North America E-pharmacy Market, By Country:
  • U.S.
  • Canada
• Company Profiles
  • CVS Health
  • Zur Rose Group AG
  • PlanetRX.com
  • Walgreen Company
  • Familymeds, Inc
  • Medisave,
  • The Kroger Co.
  • Cigna
  • Optum Rx, Inc
  • Giant Eagle
  • The Kroger Co.
  • Walmart, Inc.
  • Express Scripts Holding Company
  • Optum Rx, Inc.
  • Rowlands Pharmacy
  • Apollo Pharmacy
  • Netmeds