Report : Mail Order Pharmacy Market Forecast to 2027 - COVID-19 Impact and Global Analysis by Drug Type (Prescription Drugs, Nonprescription Drugs); Product (Diabetes, Asthma, Blood Pressure, Cardiovascular Medicines, Cold and Flu, Antacids, Painkillers, Dermal Care, Others); Mode of Order (Online Store, Pharmacy Apps), and Geography
Prescription Drugs Segment to Register Highest CAGR in Mail Order Pharmacy Market During 2020–2027
According to our latest study on "Mail Order Pharmacy Market Forecast to 2027 – COVID-19 Impact and Analysis by Drug Type, Product, and Mode of Delivery," the market was valued at US$ 48,977 million in 2019 and is projected to reach US$ 166,384.85 million by 2027; it is expected to grow at a CAGR of 16.5% from 2020 to 2027. The report highlights trends prevailing in the global mail order pharmacy market, and the drivers and restraints pertaining to the market growth.
Based on drug type, the global mail order pharmacy market is segmented into prescription drugs and nonprescription drugs. The nonprescription drugs segment held a larger share of the market in 2019. This growth is ascribed to the increasing demand for over the counter (OTC) drugs such as cough and cold medications, analgesics, and gastrointestinal products. However, the prescription drugs segment is estimated to register a higher CAGR during the forecast period. This growth is attributed to increasing prevalence of chronic diseases, such as cancer, cardiovascular diseases and diabetes.
In the North American region, the US is profoundly affected by the outbreak of the COVID-19 pandemic. The country has marked the highest number of positive cases. Across the nation, various healthcare research centers are working on the COVID-19 therapeutics. Additionally, during the initial phase of COVID-19 crisis, due to lockdown and supply chain disruptions the demand for mail order pharmacy was significantly increased owing to change in customer behaviors for purchasing prescription drugs.
The growth of the mail order pharmacy market is attributed to the increasing incidences of chronic diseases and increasing adoption of mail order pharmacy in healthcare sector. However, the less adoption in low- and- middle income economies due to less penetration of e-commerce hinder the growth of this market. Canada Drugs Online, WellDyne, Walgreens co., eDrugstore.com, Zur Rose Group AG., CHI Health, Optumrx Inc., Express Scripts Holding Company, CVS Health, and PillPack are among the leading companies operating in the global mail order pharmacy market.
The Report Segments Global Mail Order Pharmacy Market as Follows:
By Mode of Order