North America E-pharmacy Market Growth Accelerated by Increasing Consumer Preference for Online Pharmacies
E-pharmacy Market |
The North America e-pharmacy market consists of e-commerce platforms that allow consumers to purchase prescription or over-the-counter drugs from licensed pharmacies online. E-pharmacies provide consumers with convenience and privacy by allowing them to compare prices, order refills, and purchase medication from their homes. This eliminates the need to visit brick-and-mortar pharmacies in-person. The proliferation of digital technologies, high internet penetration, and rising consumer preference for contactless transactions has led to significant growth of the North America e-pharmacy market in recent years.
The North
America E-pharmacy Market is estimated to be valued at US$ 58.64 Mn in 2024 and
is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing consumer preference for online pharmacies over traditional
brick-and-mortar stores is one of the key trends driving market growth. Buying
medication online provides additional privacy for sensitive purchases and
allows consumers to order at their own convenience without needing to visit a
pharmacy. It also enhances accessibility by allowing consumers to order
medication for home delivery, which is especially valuable for those who have
difficulty visiting pharmacies due to illness, disability or lack of
transportation. E-pharmacies offer added value through services such as
subscription options for regular medication and automated refill reminder
emails. Their user-friendly digital platforms and competitive pricing are
further incentivizing the shift to online pharmacies.
Segment
Analysis
The North America E-pharmacy market is dominated by the prescription segment
which accounts for over 70% share. Online pharmacy services for prescription
drugs is growing rapidly as people prefer the convenience of home delivery of
medicines prescribed by doctors over visiting a retail pharmacy store.
Prescription drugs require a doctor's approval to purchase and this segment
sees continued growth in demand as telehealth and teleconsultation become
popular modes of receiving medical consultation digitally.
Key Takeaways
Get More Insights on this Topic- https://www.marketwebjournal.com/e-pharmacy-market-value-insights-and-outlook/
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