The US epharmacy market size to reach around USD 146 billion by 2026, growing at a CAGR of approximately 19% during the forecast period.
According to the latest Arizton's market research report, the US epharmacy market size to reach around USD 146 billion by 2026, growing at a CAGR of approximately 19% during the forecast period.
US Epharmacy Market Growth
There is a huge potential for the online pharmacies in the US market to supply prescription medication to patients. With enormous growth in the number of smartphone users, the epharmacy industry in the US is gaining momentum. Teleconsultation and the immediate need to refill prescriptions through online pharmacies is a solution for better monitoring of chronic disease patients. The COVID-19 pandemic has created many new growth opportunities for existing and emerging players. Online pharmacies are aggressively adopting CRM automation that manages customer interactions through text, email, and social media. Americans are more comfortable using technology that assists with appointment scheduling and prescription management.
The US epharmacy market is moving toward the direct-to-patient model in the digital world to provide new services and consumer-friendly online experiences. In 2020, Rite Aid launched a completely modernized online experience through RiteAid.com and its mobile app, featured with personalized content, intuitive navigation, and more user-friendly online shopping for the consumers.
What’s trending in the market?
- Around, 72% of the population are comfortable with using mobile/online prescription scheduling, and over 48% have already used these services to manage their medications.
- Most U.S. pharmacies and providers have integrated e-prescribing into their practice. About 91% of community pharmacies and around 34% of office-based providers have electronic prescription-routing capability annually.
- CVS attracts the customers through the latest technology platforms. For instance, CVS Health offers their customers a simple and convenient method of filling and refilling their prescriptions in their pharmacies using the CVS mobile app.
- Walgreens Boot Alliances is one of the largest retail and wholesale pharmacies in the US.
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Segmentation – A detailed analysis by drug type, product type, modality, and pharmacy type
- Competitive Landscape – 5 Key Company Profiles and 25 Other Prominent Vendors
US Epharmacy Market – Competitive Landscape
The rising penetration of internet is boosting the demand for US epharmacy market. Kroger, CVS health, Cigna, Walgreens Boots Alliances, and Rite Aid are the key vendors dominating the US epharmacy market share. New players such as Amazon are entering into the US epharmacy market. Amazon’s focuses on consumer experience that will attract customers to switch to its offerings. Amazon has started to acquire share from the key vendors in the US epharmacy market. The COVID-19 pandemic has brought many new growth opportunities for existing and emerging vendors involved in epharmacies. The players such as Walmart store, Amzon PillPack, and Giant Eagle have a greater presence in the US epharmacy market. The COVID-19 pandemic has further indicated the importance of online pharmacies in the country. Majority of the population adopted online healthcare systems in the country. Most of the vendors are focusing on the mobile apps that can be an effective tool to integrate the pharmacy and retail experiences.
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