US Digital Pharmacy Market Size and Forecast (2020-2030), Regional Share, Trends, and Growth Opportunity Analysis Coverage: by Drug Type (Prescription Medicine and Over-the-Counter Medicine), Product, Platform, and Gender (Male and Female)

Description

List of Tables

The US digital pharmacy market is expected to grow from US$ 67.242 billion in 2022 to US$ 240.216 billion by 2030; it is expected to grow at a CAGR of 17.25% from 2022 to 2030. Upsurge in online purchase of prescription medicines during the COVID-19 pandemic and an increasing inclination toward online platforms are a few factors driving the US digital pharmacy market growth.

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Upsurge in Online Purchase of Prescription Medicines During COVID-19 Pandemic Propels US Digital Pharmacy Market

According to a report published by the ASOP Global Foundation in 2020, nearly 50% of the American population purchased medicines online due to convenience and cost benefits. As per another survey conducted by Abacus Data on 1,500 American consumers, 4 in 10 Americans (42%) purchased medicines online in 2020, recording a 7% rise in the number of online buyers of medicines from 2020 to 2021. Moreover, purchase trends in the US indicate Americans buy an array of prescription drugs online, ranging from products prescribed against chronic and ongoing conditions (23% for all purchases), including high blood pressure, asthma, and diabetes, to specialty prescriptions such as cancer and hormone replacement therapy drugs (each accounting 11% of all purchases). Additionally, 64% of the individuals purchased medicines online for the first time in 2021, with intentions to continue buying online medicine even after the pandemic ends. The preference for online buying of medicines is mainly due to the convenience of buying, accessibility to products, and reduced cost of prescription medication (discounts, special offers, etc.). According to a survey conducted by healthinsurance.com, there was a 340% increase in telemedicine usage among Medicare recipients in the US in 2021. 33% of the increased users revealed that they preferred ordering prescription medicines through an online pharmacy during the COVID-19 pandemic. Thus, an increase in the number of digital pharmacists along with online purchases of prescription medicines, coupled with the rapidly spurring e-commerce industry and a massive shift in consumer behavior toward online purchases, favors the US digital pharmacy market growth.

Market Trend

Integrated Web-Based Online Pharmacy Interface Emerges as Key Trend

Integrated e-healthcare systems incorporated with web-based pharmacy interfaces that are accessible to pharmacists and patients are likely to emerge as new trends in the US digital pharmacy market in the coming years. Programs made available by online pharmacies to provide online support to people buying medicines are a notable example of such interfaces. For instance, patients administered with statins as a part of their treatments are likely to discontinue or show irregularities in taking medicines. Reminders and live chat with a pharmacy team member trained in providing adherence support to people consuming statin-based prescribed medicines can help avoid the discontinuation of doses.

Platform-Based Insights

In terms of platform, the US digital pharmacy market is categorized into app-based and website-based. The app-based is further segmented into telehealth pharmacy apps, medication management apps, health and wellness apps, compounding pharmacy apps, and others. The app-based segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.60% during the forecast period. Telehealth pharmacy apps are expected to account for a maximum share of the market for the app-based segment during 2022-2030. Virtual healthcare can be accessed through telehealth apps from anywhere. According to CDC data published in 2021, 37.0% of adults used telemedicine in 2020, including provider visits, online prescriptions, and mental health services. The best telehealth apps can be downloaded free of cost and are easy to use, and they often completely cover insurance services. A few examples of telehealth pharmacy apps are Hims & Hers, GoodRx, K Health, and Doctor on Demand. GoodRx offers services such as low-cost visits, easy prescription refills via mail, and visits without health insurance.

Based on drug type, the US digital pharmacy market is bifurcated into prescription medicine and over-the-counter medicine. The prescription medicine segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.83% during the forecast period. Based on product, the US digital pharmacy market is segmented into personal care, vitamins & supplements, medicines & treatments, and other products. The medicine & treatments segment is further segregated as sexual health, neurological disorders, heartcare, diabetes, weight loss, and others. The medicine and treatment segment held a larger market share in 2022, and the segment is anticipated to register a higher CAGR of 17.87% during the forecast period. In terms of platform, the US digital pharmacy market is categorized into app-based and website-based. The app-based is further segmented into telehealth pharmacy apps, medication management apps, health and wellness apps, compounding pharmacy apps, and others. The app-based segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.60% during the forecast period. By gender, the market is bifurcated into males and females. The females segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.64% during the forecast period..

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Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the US digital pharmacy market.
Highlights key business priorities in order to assist companies to realign their business strategies.
The key findings and recommendations highlight crucial progressive industry trends in the global US digital pharmacy market, thereby allowing players across the value chain to develop effective long-term strategies.
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
Scrutinize in-depth US market trends and outlook coupled with the factors driving the market, as well as those hindering it.
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Product Code: TIPRE00030057

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. US Digital Pharmacy Market Landscape

4.1 Overview
4.2 PEST Analysis
- 4.2.1 US PEST Analysis
4.3 Ecosystem Analysis

5. US Digital Pharmacy Market - Key Industry Dynamics

5.1 Key Market Drivers
- 5.1.1 Upsurge in Online Purchase of Prescription Medicines During COVID-19 Pandemic
5.2 Increasing Inclination Towards Online Platform
5.3 Key Market Restraints:
- 5.3.1 Illicit Practices in Online Pharmacy Operations
5.4 Key Market Opportunities:
- 5.4.1 Technologically Advanced Digital Pharmacy Solutions
5.5 Future Trends
- 5.5.1 Integrated Web-Based Online Pharmacy Interface
5.6 Impact Analysis:

6. US Digital Pharmacy Market - Market Analysis

6.1 US Digital Pharmacy Market Revenue (US$ Mn), 2022 - 2030

7. US Digital Pharmacy Market - Revenue and Forecast to 2030 - by Drug Type

7.1 Overview
7.2 US Digital Pharmacy Market Revenue Share, by Drug Type 2022 & 2030 (%)
7.3 Prescription Medicine
- 7.3.1 Overview
- 7.3.2 Prescription Medicine: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
7.4 Over-the-Counter Medicine
- 7.4.1 Overview
- 7.4.2 Over-the-Counter Medicine: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)

8. US Digital Pharmacy Market - Revenue and Forecast to 2030 - by Product

8.1 Overview
8.2 US Digital Pharmacy Market Revenue Share, by Product 2022 & 2030 (%)
8.3 Personal Care
- 8.3.1 Overview
- 8.3.2 Personal Care: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
8.4 Vitamins & Supplements
- 8.4.1 Overview
- 8.4.2 Vitamins & Supplements: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
8.5 Medicines & Treatments
- 8.5.1 Overview
- 8.5.2 Medicines & Treatments: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.3 Sexual Health
  - 8.5.3.1 Overview
- 8.5.4 Sexual Health: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
  - 8.5.4.1 Premature Ejaculation Treatment
    - 8.5.4.1.1 Overview
    - 8.5.4.1.2 Premature Ejaculation Treatment: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
  - 8.5.4.2 Other Sexual Health
    - 8.5.4.2.1 Overview
    - 8.5.4.2.2 Other Sexual Health: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.5 Neurological Disorders
  - 8.5.5.1 Overview
  - 8.5.5.2 Neurological Disorders: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.6 Heartcare
  - 8.5.6.1 Overview
  - 8.5.6.2 Heartcare: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.7 Diabetes
  - 8.5.7.1 Overview
  - 8.5.7.2 Diabetes: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.8 Weight Loss
  - 8.5.8.1 Overview
  - 8.5.8.2 Weight Loss: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 8.5.9 Others
  - 8.5.9.1 Overview
  - 8.5.9.2 Others: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
8.6 Other Products
- 8.6.1 Overview
- 8.6.2 Others Products: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)

9. US Digital Pharmacy Market - Revenue and Forecast to 2030 - by Platform

9.1 Overview
9.2 US Digital Pharmacy Market Revenue Share, by Platform 2022 & 2030 (%)
9.3 App-Based
- 9.3.1 Overview
- 9.3.2 App-Based: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.3 Telehealth Pharmacy Apps
  - 9.3.3.1 Overview
  - 9.3.3.2 Telehealth Pharmacy Apps: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.4 Medication Management Apps
  - 9.3.4.1 Overview
  - 9.3.4.2 Medication Management Apps: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.5 Health and Wellness Apps
  - 9.3.5.1 Overview
  - 9.3.5.2 Health and Wellness Apps: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.6 Compounding Pharmacy Apps
  - 9.3.6.1 Overview
  - 9.3.6.2 Compounding Pharmacy Apps: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
- 9.3.7 Other Apps
  - 9.3.7.1 Overview
  - 9.3.7.2 Other Apps: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
9.4 Website Based
- 9.4.1 Overview
- 9.4.2 Website Based: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)

10. US Digital Pharmacy Market - Revenue and Forecast to 2030 - by Gender

10.1 Overview
10.2 US Digital Pharmacy Market Revenue Share, by Gender 2022 & 2030 (%)
10.3 Male
- 10.3.1 Overview
- 10.3.2 Male: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)
10.4 Female
- 10.4.1 Overview
- 10.4.2 Female: US Digital Pharmacy Market - Revenue and Forecast to 2030 (US$ Million)

11. Industry Landscape

11.1 Overview
11.2 Growth Strategies in the US Digital Pharmacy Market
11.3 Organic Developments
- 11.3.1 Overview
11.4 Inorganic Developments
- 11.4.1 Overview

12. Company Profiles

12.1 Amazon.com Inc
- 12.1.1 Key Facts
- 12.1.2 Business Description
- 12.1.3 Products and Services
- 12.1.4 Financial Overview
- 12.1.5 SWOT Analysis
- 12.1.6 Key Developments
12.2 Goodrx Holdings Inc
- 12.2.1 Key Facts
- 12.2.2 Business Description
- 12.2.3 Products and Services
- 12.2.4 Financial Overview
- 12.2.5 SWOT Analysis
- 12.2.6 Key Developments
12.3 The Cigna Group
- 12.3.1 Key Facts
- 12.3.2 Business Description
- 12.3.3 Products and Services
- 12.3.4 Financial Overview
- 12.3.5 SWOT Analysis
- 12.3.6 Key Developments
12.4 CVS Health Corp
- 12.4.1 Key Facts
- 12.4.2 Business Description
- 12.4.3 Products and Services
- 12.4.4 Financial Overview
- 12.4.5 SWOT Analysis
- 12.4.6 Key Developments
12.5 Walmart Inc
- 12.5.1 Key Facts
- 12.5.2 Business Description
- 12.5.3 Products and Services
- 12.5.4 Financial Overview
- 12.5.5 SWOT Analysis
- 12.5.6 Key Developments
12.6 Hims & Hers Health Inc
- 12.6.1 Key Facts
- 12.6.2 Business Description
- 12.6.3 Products and Services
- 12.6.4 Financial Overview
- 12.6.5 SWOT Analysis
- 12.6.6 Key Developments
12.7 Roman Health Pharmacy LLC
- 12.7.1 Key Facts
- 12.7.2 Business Description
- 12.7.3 Products and Services
- 12.7.4 Financial Overview
- 12.7.5 SWOT Analysis
- 12.7.6 Key Developments
12.8 Apex Pharmacy Inc
- 12.8.1 Key Facts
- 12.8.2 Business Description
- 12.8.3 Products and Services
- 12.8.4 Financial Overview
- 12.8.5 SWOT Analysis
- 12.8.6 Key Developments
12.9 LloydsPharmacy Ltd
- 12.9.1 Key Facts
- 12.9.2 Business Description
- 12.9.3 Products and Services
- 12.9.4 Financial Overview
- 12.9.5 SWOT Analysis
- 12.9.6 Key Developments
12.10 Pharmacy2U Ltd
- 12.10.1 Key Facts
- 12.10.2 Business Description
- 12.10.3 Products and Services
- 12.10.4 Financial Overview
- 12.10.5 SWOT Analysis
- 12.10.6 Key Developments
12.11 Docmorris NV
- 12.11.1 Key Facts
- 12.11.2 Business Description
- 12.11.3 Products and Services
- 12.11.4 Financial Overview
- 12.11.5 SWOT Analysis
- 12.11.6 Key Developments
12.12 Truepill
- 12.12.1 Key Facts
- 12.12.2 Business Description
- 12.12.3 Products and Services
- 12.12.4 Financial Overview
- 12.12.5 SWOT Analysis
- 12.12.6 Key Developments

13. Appendix

13.1 About Us
13.2 Glossary of Terms