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 product, the global mail order pharmacy market is segmented into diabetes, asthma drugs, blood pressure medications, cardiovascular medicines, cold and flu, antacids, painkillers, dermal care, and other. The dermal care segment held the largest share of the market in 2019; whereas, the diabetes segment is anticipated to register the highest CAGR during the forecast period. This growth is attributed to rising prevalence of diabetes and the increasing number of online pharmacies distributing diabetic drugs.
CVS Health, and Express Scripts Holding Company – Notable Market Players in Mail Order Pharmacy Market.
Mail-order pharmacy operates over the Internet and sends orders through mail, shipping companies, or online pharmacy web portal. Mail order pharmacy delivers medication at doorstep. These are cheaper and more convenient than a local pharmacy. The adoption of mail order pharmacy services has grown at unprecedent rate in last few years owing to increasing adoption of online services in healthcare sector. In addition, aging population, increasing prevalence of chronic diseases, and non-adherence to prescribed medications are further emphasizing on the adoption of mail order pharmacy worldwide.
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In Europe, economies are severely affected due to the increase in number of COVID-19 cases. Spain, Italy, Germany, France, and the UK are among the most affected European countries. The mail order pharmacy market has witnessed a positive impact on the revenue growth in Europe, considering the pandemic situation. Moreover, supportive government initiatives are also responsible for the growth of online pharmacies during COVID-19 pandemic. For instance, the Federal Office for Public Health Switzerland has allowed temporary right to deliver OTC emergency, cold and flu medicines by mail order.
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.
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