According to our new research study on “US Mail Order Pharmacy Market Size and Forecast to 2030 – Country Analysis – by Drug Type, Product, and Mode of Order,” the market is expected to grow from US$ 43,728.62 million in 2022 to US$ 1,71,883.03 million by 2030; it is estimated to record a CAGR of 18.66% during 2022-2030. Factors such as the increasing incidences of chronic diseases and increasing adoption of mail order pharmacy services for specific healthcare needs. However, security concerns originating from counterfeit products and lack of pharmacists counselling hinders the market growth.
A Mail Order Pharmacy operates over the internet and is used for dispensing outpatient prescriptions through e-mails, shipping companies, or online pharmacies. Mail order pharmacies are a legal and advantageous way to get prescription or non-prescription drugs delivered to doorstep at a lower cost than local pharmacies. Many mail-order pharmacies provide 30 to 90 days of medication supply in two days or two weeks of time.
US Mail Order Pharmacy Market Size and Forecast (2020 - 2030), Country and Share, Trend, and Growth Opportunity Analysis Coverage By: Drug Type (Prescription Drugs and Non-Prescription Drugs), Product (Dermal Care Products, Antidiabetic Medicines, Cardiovascular Medicines, Blood Pressure Medicines, Asthma Management Products, Cold & Flu Medicines, Painkillers, Antacids, and Others), and Mode of Order (Online Stores and Pharmacy Apps)
US Mail Order Pharmacy Market to Grow at a CAGR of 18.66% to reach US$ 1,71,883.03 million from 2022 to 2030
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The US Mail Order Pharmacy market is segmented on the basis of drug type, product, and mode of order. Based on drug type, the market is bifurcated into prescription and non-prescription drugs. The prescription medicine segment held a larger market share in 2022 and the same segment is anticipated to register a higher CAGR during the forecast period. The increasing prevalence of chronic diseases such as cancer, cardiovascular diseases, and diabetes, and the rising cases of orphan diseases are likely to benefit the US mail order pharmacy market for the prescription drugs segment. By product the US Mail Order Pharmacy market is segmented into dermal care products, antidiabetic medicines, cardiovascular medicines, blood pressure medicines, asthma management products, cold & flu medicines, painkillers, antacids, and others. The dermal care product segment held a larger market share in 2022 and the cardiovascular medicines segment is anticipated to register a higher CAGR of 22.89% during the forecast period. In terms of mode of order, the market is segmented as online stores and pharmacy applications.
The number of mail-order pharmacy start-ups is increasing in the US owing to a growing inflow of investments, dependency on the internet, and demand for hassle-free medication deliveries.
Recent investments in mail-order pharmacy start-ups are mentioned below:
- In January 2020, Alto (San Francisco) raised US$ 250 million from SoftBank’s Vision Fund 2. The company delivers prescription drugs in California, Nevada, Washington, and Colorado.
- In July 2020, Medly Pharmacy (New York City) scored US$ 100 million in the series B funding round. The company provides same-day prescription delivery and works directly with patients to manage adherence to medication and refills. It is currently operating through 5 pharmacies across New York, New Jersey, Pennsylvania, Maryland, and Miami. With the investment mentioned above, it is planning to expand to other metropolitan cities in the next 18 months.
- In July 2020, Truepill raised US$ 25 million to fulfill its plans to expand into the telehealth segment with a service that will connect physicians and patients in the US over real-time video communications. With this new investment, Truepill targets to serve the increasing demand of its wide base of customers across the healthcare sector.
Therefore, these investments in mail-order pharmacy start-ups have led to a rise in the number of independent mail-order pharmacies, thus offering numerous opportunities for the expansion of this business in US during 2022-2030.
US Mail Order Pharmacy Market: Competitive Landscape and Key Developments
The major players in the US mail order pharmacy market are CVS Health Corp, Walmart Inc, Envirotainer AB, Able Freight Services LLC, Deutsche Post AG, GeniusRx, Geisinger Health, Geisinger Health, Humana, Inc., Ridgeway Pharmacy LLC and The Cigna Group. These leading players adopt strategies such as the launch of new products, expansion and diversification of their market presence, and expansion of new customer base for tapping prevailing business opportunities.
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