As per our analysis report, the North American ePharmacy Market is expected to reach USD 48.05 billion by 2029 from USD 22.71 billion in 2024, growing at a compound annual growth rate (CAGR) of 16.17 % during the forecast period.
The Pandemic had issued lockdown regulations, which increased the scope for online pharmacies across the region. To avoid the risk of disease spreading, people preferred ePharmacy services, which increased the demand for market growth. The growing busy lifestyles of the people allow convenience in buying medicine through digital platforms, boosting the ePharmacy market value in the North American region. The increasing digitalization and rising benefits of affordability and accessibility in ePharmacy over traditional pharmacies are expected to propel market growth over the coming years. The Pandemic has impacted chronic patients by creating disruptions in the supply of medications. The closure of pharmacies reduced the medication supply as the government and healthcare system gave importance to only emergency cases. Online pharmacies act as saviors for patients in urgencies, and that demand is rising due to high adoption among people.
The rising digital transformation has increased the number of online doctor consultants where people contact doctors online. This results in the E-prescription process, where the growing e-prescriptions are expected to augment the market growth of e-pharmacy in North America. Home delivery services and accessibility to diverse varieties are gaining a customer base, positively impacting ePharmacy market growth.
The easy availability of some narcotics, stimulants, and painkillers is leading to substance abuse, which is hampering the ePharmacy market expansion. Many websites are misusing these digital platforms to sell certain drugs illegally without prescription to make money.
Impact of COVID-19 on the North American e-pharmacy Market:
The COVID-19 pandemic positively impacted the North American ePharmacy market as the scope of online pharmacies increased due to COVID lockdowns. However, the COVID-19 pandemic also affected the economy by disrupting the supply chain, production, and manufacturing units. During COVID, many organizations started online supply of medications to help people and increase contactless services by reducing the spread of disease. In 2021, Flipkart launched Flipkart Health+ to provide services to people seeking necessary medications during the Pandemic.
This research report on the North American ePharmacy market has been segmented and sub-segmented into the following categories.
North America ePharmacy Market - By Product Type:
The skincare segment dominated the ePharmacy market in the North American region in 2023. The cold and flu segment is gaining traction as these are common concerns each person has in recent years. As many prefer vitamin supplements, the vitamin and weight loss segments are projected to grow significantly over the forecast period.
North America ePharmacy Market - By Drug Type:
The prescription segment dominated the regional ePharmacy market by holding the most significant share in 2023. According to government regulations, Schedule-H drugs can only be sold at pharmacies with the proper prescription of a qualified doctor. Many people seek the prescribed drugs due to chronic disease conditions and the increasing number of senior people with disease conditions. The OTC drugs segment is also gaining traction as people prefer vitamins and minerals supplements and other drugs, which are expected to grow significantly over the forecast period.
North American ePharmacy Market – By Country:
North American region held the largest share in the global ePharmacy market revenue, where the US dominated the North American ePharmacy market in 2023. The increasing number of internet users across the region is influencing them to adopt ePharmacy services and driving the market growth—there is a growing demand for online services due to discounts and coupons issued by digital platforms.
The U.S. ePharmacy market is expected to grow significantly due to rising advancements in the healthcare system. Increasing E-prescription services by healthcare professionals is influencing the demand for the North American market.
Canada's ePharmacy market is projected to grow steadily over the forecast period due to people's busy lifestyles and habituation of online services. The ease of operation, increasing digitalization, and rising number of beneficiaries registering under Medicare enhance the market growth in these countries.
Mexico is expected to have steady growth in the forecast period as the market is still evolving in the region.
KEY MARKET PLAYERS:
A few noteworthy players operating in the North American ePharmacy Market profiled in the report are Lloyds Pharmacy Ltd., PlanetRx, CVS Health, Medisave, Express Scripts Holding Company, com Inc., Sanicare AB, Optum Rx, Inc., DocMorris, and Rowlands Pharmacy.
Frequently Asked Questions
The United States holds the largest share in the North America ePharmacy market, followed by Canada and Mexico.
Factors such as increasing internet penetration, rising healthcare costs, and the convenience of online prescription services are driving the growth in the U.S. ePharmacy market.
The pandemic has accelerated the adoption of ePharmacy services, with a surge in demand for contactless healthcare solutions and online prescription fulfillment.
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