US Digital Pharmacy Market Size and Forecast (2020-2030)

US Digital Pharmacy Market Size and Forecast (2020-2030), Regional Share, Trends, and Growth Opportunity Analysis Coverage: by Drug Type (Prescription Medicine and Over-the-Counter Medicine), Product [Personal Care, Vitamins and Supplements, Medicine and Treatment (Sexual Health, Neurological Disorders, Heartcare, Diabetes, and Weight Loss Drugs), and Others], Platform [App-Based (Telehealth Pharmacy Apps, Medication Management Apps, Health and Wellness Apps, and Compounding Pharmacy Apps, and Others) and Website Based], and Gender (Male and Female)

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The US digital pharmacy market is expected to grow from US$ 67.242 billion in 2022 to US$ 240.216 billion by 2030; it is expected to grow at a CAGR of 17.25% from 2022 to 2030. Upsurge in online purchase of prescription medicines during the COVID-19 pandemic and an increasing inclination toward online platforms are a few factors driving the US digital pharmacy market growth.

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Upsurge in Online Purchase of Prescription Medicines During COVID-19 Pandemic Propels US Digital Pharmacy Market

According to a report published by the ASOP Global Foundation in 2020, nearly 50% of the American population purchased medicines online due to convenience and cost benefits. As per another survey conducted by Abacus Data on 1,500 American consumers, 4 in 10 Americans (42%) purchased medicines online in 2020, recording a 7% rise in the number of online buyers of medicines from 2020 to 2021. Moreover, purchase trends in the US indicate Americans buy an array of prescription drugs online, ranging from products prescribed against chronic and ongoing conditions (23% for all purchases), including high blood pressure, asthma, and diabetes, to specialty prescriptions such as cancer and hormone replacement therapy drugs (each accounting 11% of all purchases). Additionally, 64% of the individuals purchased medicines online for the first time in 2021, with intentions to continue buying online medicine even after the pandemic ends. The preference for online buying of medicines is mainly due to the convenience of buying, accessibility to products, and reduced cost of prescription medication (discounts, special offers, etc.). According to a survey conducted by healthinsurance.com, there was a 340% increase in telemedicine usage among Medicare recipients in the US in 2021. 33% of the increased users revealed that they preferred ordering prescription medicines through an online pharmacy during the COVID-19 pandemic. Thus, an increase in the number of digital pharmacists along with online purchases of prescription medicines, coupled with the rapidly spurring e-commerce industry and a massive shift in consumer behavior toward online purchases, favors the US digital pharmacy market growth.

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Market Trend

Integrated Web-Based Online Pharmacy Interface Emerges as Key Trend

Integrated e-healthcare systems incorporated with web-based pharmacy interfaces that are accessible to pharmacists and patients are likely to emerge as new trends in the US digital pharmacy market in the coming years. Programs made available by online pharmacies to provide online support to people buying medicines are a notable example of such interfaces. For instance, patients administered with statins as a part of their treatments are likely to discontinue or show irregularities in taking medicines. Reminders and live chat with a pharmacy team member trained in providing adherence support to people consuming statin-based prescribed medicines can help avoid the discontinuation of doses.

Platform-Based Insights

In terms of platform, the US digital pharmacy market is categorized into app-based and website-based. The app-based is further segmented into telehealth pharmacy apps, medication management apps, health and wellness apps, compounding pharmacy apps, and others. The app-based segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.60% during the forecast period. Telehealth pharmacy apps are expected to account for a maximum share of the market for the app-based segment during 2022-2030. Virtual healthcare can be accessed through telehealth apps from anywhere. According to CDC data published in 2021, 37.0% of adults used telemedicine in 2020, including provider visits, online prescriptions, and mental health services. The best telehealth apps can be downloaded free of cost and are easy to use, and they often completely cover insurance services. A few examples of telehealth pharmacy apps are Hims & Hers, GoodRx, K Health, and Doctor on Demand. GoodRx offers services such as low-cost visits, easy prescription refills via mail, and visits without health insurance.

Based on drug type, the US digital pharmacy market is bifurcated into prescription medicine and over-the-counter medicine. The prescription medicine segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.83% during the forecast period. Based on product, the US digital pharmacy market is segmented into personal care, vitamins & supplements, medicines & treatments, and other products. The medicine & treatments segment is further segregated as sexual health, neurological disorders, heartcare, diabetes, weight loss, and others. The medicine and treatment segment held a larger market share in 2022, and the segment is anticipated to register a higher CAGR of 17.87% during the forecast period. In terms of platform, the US digital pharmacy market is categorized into app-based and website-based. The app-based is further segmented into telehealth pharmacy apps, medication management apps, health and wellness apps, compounding pharmacy apps, and others. The app-based segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.60% during the forecast period. By gender, the market is bifurcated into males and females. The females segment held a larger market share in 2022, and the same segment is anticipated to register a higher CAGR of 17.64% during the forecast period..

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According to our new research study on “US Digital Pharmacy Market Size and Forecast to 2030 –Country Analysis – by Drug Type, Product Type, Platform, Gender” the market is expected to grow from US$ 67.242 billion in 2022 to US$ 240.216 billion by 2030; it is estimated to record a CAGR 17.25% during 2022–2030. Factors like the upsurge in online purchase of prescription medicines during COVID-19 pandemic, increasing inclination towards online platform are driving the US digital pharmacy market size and growth.

Market Driver

Upsurge in Online Purchase of Prescription Medicines During COVID-19 Pandemic

According to a report published by the ASOP Global Foundation in 2020, nearly 50% of the American population purchased medicines online due to convenience and cost benefits. As per another survey conducted by Abacus Data on 1,500 American consumers, 4 in 10 Americans (42%) purchased medicines online in 2020, recording a 7% rise in the number of online buyers of medicines from 2020 to 2021. Moreover, purchase from digital pharmacy market trends in the US indicate Americans buy an array of prescription drugs online, ranging from products prescribed against chronic and ongoing conditions (23% for all purchases), including high blood pressure, asthma, and diabetes, to specialty prescriptions such as cancer and hormone replacement therapy drugs (each accounting 11% of all purchases). Additionally, 64% of the individuals purchased medicines online for the first time in 2021, with intentions to continue buying online medicine even after the pandemic ends. The preference for online buying of medicines is mainly due to the convenience of buying, accessibility to products, and reduced cost of prescription medication (discounts, special offers, etc.). According to a survey conducted by healthinsurance.com, there was a 340% increase in telemedicine usage among Medicare recipients in the US in 2021. 33% of the increased users revealed that they preferred ordering prescription medicines through an online pharmacy during the COVID-19 pandemic. Thus, an increase in the number of online purchases of prescription medicines, coupled with the rapidly spurring e-commerce industry and a massive shift in consumer behavior toward online purchases, favors the US digital pharmacy market growth.

Increasing Organic and Inorganic Strategies by Key Players

In recent years, changing lifestyle habits and growing geriatric population are increasing the incidence of various chronic disorders, advent of e-commerce has accelerated the digital pharmacy market landscape. Thus, there is an increasing demand for early diagnosis and treatment. To enhance the quality of life of people, key players are taking several initiatives through various organic and inorganic strategies.

• In November 2020, Amazon, Inc. announced launching of Amazon Pharmacy a delivery service for prescription medications. In addition to the basic Amazon Pharmacy service, Amazon is rolling out special features for Prime members. Those subscribing to the Amazon’s premium membership tier can receive unlimited, free two-day delivery on Amazon orders.

• In January 2023, Hims & Hers Health, Inc. announced trusted consumer-first platform aiming to provide a modern personalized health & wellness experience to consumers. Hims & Hers Health, Inc. new volumized shampoos and conditioners are formulated with Biovolume 128 that has been shown to increase hair volume with vegan, pthalates-, sulfate-, dye- and cruelty-free formulas. The product have been developed specifically to boost the volume of those having fine, flat, or limp hair.

• In September 2021, LloydsPharmacy announced launching of LloydsPharmacy VideoGP service. Through the new product launch patients can access a general practioner (GP) appointment in as little as 30 minutes seven days a week. The VideoGP service operates via an app from LloydsPharmacy, available from the Apple App Store and Google Play.

• In September 2023, GoodRx, announced collaboration with MedImpact for lowering drug prices on prescriptions at the pharmacy counter. The collaboration will integrate GoodRx’s prescription pricing into MedImpact’s pharmacy benefit manager (PBM) services offering a seamless experience for MedImpact members. Additionally, the collaboration will allow both companies to deliver more savings to consumers without any additional effort and offering program to seamless data integration. This is achieved by ensuring patients are given alert about any negative drug interactions through the MedImpact’s rigorous drug safety review.

• In May 2023, CVS Health announced acquisition of Signify Health accounting US$30.50 per share in cash for a total transaction value of approx. US$8 billion. The acquisition aims that Signify Health will continue to operate as a payor-agonistic business as part of CVS Health.

• In June 2022, Lloyds Pharmacy announced partnership with Deliveroo allowing customers to order toiletries and OTC medicines to be expanded to 110 stores. The expansion of the partnership was launched amid the pandemic in 2020, with 150 Lloyds stores participating in the scheme. Through this partnership the consumers can now order a range of top 50 selling products through the Deliveroo app, comprising cold relief medicines, OTC painkillers, and home pregnancy tests among the popular items.

• In October 2021, Pharmacy2U, announced partnership with Diabetes UK. The partnership aims to assist people currently living with diabetes, as well as those at increased risk of type 2 diabetes across the UK.

Thus, the key market players are adopting various organic and inorganic strategies, which are anticipated to provide additional opportunities for the growth of the coagulation analyzer market during the forecast period.

The Cigna Group, Good Rx Holdings Inc., CVS Health Group, Walmart Inc., Hims & Hers Health Inc., Roman Health Pharmacy LLC, Apex Pharmacy Inc., Lloyds Pharmacy, Pharmacy2U Ltd., Docmorris NV, True pill are among the prominent players in global US digital pharmacy market. 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.

The report segments US digital pharmacy market as follows:

Based on type, the US Digital Pharmacy market is segmented based on drug type. The market for drug type is segmented into prescription medicine and over-the-counter medicine. Prescription medicine held the largest market share. The US Digital Pharmacy market by product is further segmented as personal care, vitamin and supplements, medicine and treatment, and other products. Medicine and treatment segment accounted for a larger market share in 2022. The medicine and treatment is further divided into sexual health, neurological disorders, heartcare, diabetes, weight loss, and others. The heartcare segmented accounted for the largest share and fastest CAGR. The market is segmented into by platform i.e., app-based and website-based. App-based segment is further segmented into telehealth pharmacy app, medication management app, health and wellness apps, compounding pharmacy apps and other aps. Telehealth pharmacy app accounted for larger share in the year 2022. Based on gender, the US Digital Pharmacy market is segmented into male and female. The female segment led the market in 2022 and it is also estimated to record the highest CAGR during 2022–2030.

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TABLE OF CONTENTS

1. Introduction
1.1 Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Europe Deep Brain Stimulation Market, by Country (US$ Million)
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Deep Brain Simulation Market Landscape
4.1 Overview
4.2 Europe PEST Analysis
4.3 Comparison Analysis
4.3.1 Comparison of Deep Brain Stimulation and Lesioning Procedures
4.3.2 Lesioning Procedures in Neurological Disorders
4.3.3 Europe Deep Brain Stimulation Surgical Procedures Performed in 2022, By Country
5. Europe Deep Brain Simulation Market – Key Industry Dynamics
5.1 Key Market Drivers:
5.1.1 Rising Prevalence of Neurological Disorders
5.1.2 Increasing Demand for Minimally Invasive Surgery
5.2 Market Restraints
5.2.1 Side Effects Associated with Deep Brain Stimulation
5.3 Market Opportunities
5.3.1 Technological Advancements and Approvals in Deep Brain Stimulation
5.4 Future Trends
5.4.1 Growing Research and Development Activities
5.5 Impact Analysis
6. Deep Brain Simulation Market – Europe Market Analysis
6.1 Europe Deep Brain Simulation Market Revenue (US$ Mn), 2022 – 2030
7. Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 – by Product
7.1 Overview
7.2 Europe Deep Brain Simulation Market Revenue Share, by Product 2022 & 2030 (%)
7.3 Single Channel Deep Brain Stimulator
7.3.1 Overview
7.3.2 Single Channel Deep Brain Stimulator: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
7.4 Dual Channel Deep Brain Stimulator
7.4.1 Overview
7.4.2 Dual Channel Deep Brain Stimulator: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
7.5 Software and Accessories
7.5.1 Overview
7.5.2 Software and Accessories: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8. Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 – by Application
8.1 Overview
8.2 Europe Deep Brain Simulation Market Revenue Share, by Application 2022 & 2030 (%)
8.3 Parkinson’s Disease
8.3.1 Overview
8.3.2 Parkinson’s Disease: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8.4 Tremor
8.4.1 Overview
8.4.2 Tremor: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8.5 Alzheimer’s Disease
8.5.1 Overview
8.5.2 Alzheimer’s Disease: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8.6 Dystonia
8.6.1 Overview
8.6.2 Dystonia: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8.7 Epilepsy
8.7.1 Overview
8.7.2 Epilepsy: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
8.8 Others
8.8.1 Overview
8.8.2 Others: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
9. Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 – by End User
9.1 Overview
9.2 Europe Deep Brain Simulation Market Revenue Share, by End User 2022 & 2030 (%)
9.3 Hospitals
9.3.1 Overview
9.3.2 Hospitals: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
9.4 Neurology Clinics
9.4.1 Overview
9.4.2 Neurology Clinics: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
9.5 Ambulatory Surgical Centers
9.5.1 Overview
9.5.2 Ambulatory Surgical Centers: Europe Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
9.6 Others
9.6.1 Overview
9.6.2 Others: Deep Brain Simulation Market – Revenue and Forecast to 2030 (US$ Million)
10. Europe Deep Brain Simulation Market – Country Analysis
10.1 Overview
10.1.1.1 Europe Deep Brain Simulation Market by Country
10.1.1.2 Germany
10.1.1.2.1 Overview
10.1.1.2.2 Germany Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.2.3 Germany Deep Brain Simulation Market, by Product
10.1.1.2.4 Germany Deep Brain Simulation Market, by Application
10.1.1.2.5 Germany Deep Brain Simulation Market, by End User
10.1.1.3 UK
10.1.1.3.1 Overview
10.1.1.3.2 UK Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.3.3 UK Deep Brain Simulation Market, by Product
10.1.1.3.4 UK Deep Brain Simulation Market, by Application
10.1.1.3.5 UK Deep Brain Simulation Market, by End User
10.1.1.4 France
10.1.1.4.1 Overview
10.1.1.4.2 France Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.4.3 France Deep Brain Simulation Market, by Product
10.1.1.4.4 France Deep Brain Simulation Market, by Application
10.1.1.4.5 France Deep Brain Simulation Market, by End User
10.1.1.5 Italy
10.1.1.5.1 Overview
10.1.1.5.2 Italy Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.5.3 Italy Deep Brain Simulation Market, by Product
10.1.1.5.4 Italy Deep Brain Simulation Market, by Application
10.1.1.5.5 Italy Deep Brain Simulation Market, by End User
10.1.1.6 Spain
10.1.1.6.1 Overview
10.1.1.6.2 Spain Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.6.3 Spain Deep Brain Simulation Market, by Product
10.1.1.6.4 Spain Deep Brain Simulation Market, by Application
10.1.1.6.5 Spain Deep Brain Simulation Market, by End User
10.1.1.7 Rest of Europe
10.1.1.7.1 Overview
10.1.1.7.2 Rest of Europe Deep Brain Simulation Market Revenue and Forecast to 2030 (US$ Mn)
10.1.1.7.3 Rest of Europe Deep Brain Simulation Market, by Product
10.1.1.7.4 Rest of Europe Deep Brain Simulation Market, by Application
10.1.1.7.5 Rest of Europe Deep Brain Simulation Market, by End User
11. Pre & Post Covid-19 Impact
11.1 Pre & Post Covid-19 Impact
12. Europe Deep Brain Simulation Market Industry Landscape
12.1 Overview
12.2 Growth Strategies in Deep Brain Stimulation Market
12.3 Organic Growth Strategies
12.3.1 Overview
12.4 Inorganic Growth Strategies
12.4.1 Overview
13. Europe Deep Brain Simulation Market, Key Company Profiles
13.1 Abbott Laboratories
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Aleva Neurotherapeutics SA
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Medtronic Plc
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Boston Scientific Corp
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Newronika SpA
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
14. Appendix
14.1 About Us
14.2 Glossary of Terms

LIST OF TABLES

Table 1. US Digital Pharmacy Market Segmentation
Table 2. List of Vendors in the Value Chain
Table 3. Market Share (~) by Companies in the US Digital Pharmacy Market (%)
Table 4. Market Share Analysis of Companies, by Telehealth Category
Table 5. Organic Developments Done by Companies
Table 6. Inorganic Developments Done by Companies
Table 7. Glossary of Terms, US Digital Pharmacy Market

LIST OF FIGURES

Figure 1. Key Insights
Figure 2. US – PEST Analysis
Figure 3. US Digital Pharmacy Market – Key Industry Dynamics
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. US Digital Pharmacy Market Revenue (US$ Mn), 2022 – 2030
Figure 6. US Digital Pharmacy Market Revenue Share, by Drug Type 2022 & 2030 (%)
Figure 7. Prescription Medicine: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 8. Over-the-Counter Medicine: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 9. US Digital Pharmacy Market Revenue Share, by Product 2022 & 2030 (%)
Figure 10. Personal Care: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 11. Vitamins & Supplements: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 12. Medicines & Treatments: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. Sexual Health: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 14. Premature Ejaculation Treatment: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 15. Others Sexual Health Products: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 16. Neurological Disorders: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 17. Heartcare: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 18. Diabetes: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 19. Weight Loss: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 20. Others: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 21. Others: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 22. US Digital Pharmacy Market Revenue Share, by Platform 2022 & 2030 (%)
Figure 23. App-Based: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 24. Telehealth Pharmacy Apps: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 25. Medication Management Apps: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 26. Health and Wellness Apps: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 27. Compounding Pharmacy Apps: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 28. Other Apps: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 29. Website Based: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 30. US Digital Pharmacy Market Revenue Share, by Gender 2022 & 2030 (%)
Figure 31. Male: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 32. Female: US Digital Pharmacy Market – Revenue and Forecast to 2030 (US$ Million)
Figure 33. Growth Strategies in the US Digital Pharmacy Market

The List of Companies – US Digital Pharmacy Market
– Amazon.com Inc.
– Good Rx Holdings
– The Cigna Group
– CVS Health Corp
– Walmart Inc.
– Hims & Hers Health Inc.
– Roman Health Pharmacy LLC
– Apex Pharmacy Inc.
– LloydsPharmacy Ltd.
– Pharmacy2U Ltd.
– Docmorris NV
– Truepill

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