SEATTLE, June 03, 2021, (MEDGADGET) – North America E-Pharmacy Market Analysis
Effects of the COVID-19 epidemic
Since December 2019, the SARS-CoV-2 virus outbreak has been transmitted to over 100 nations around the world and the World Health Organization (WHO) declared it a public health emergency on March 11, 2020. Organization (WHO) has issued the SARS- CoV-2 virus led to over 14 million infections worldwide by July 2020. The outbreak of the COVID-19 epidemic has led to nationwide lockdowns in several countries, putting financial strain on private health sectors such as specialist clinics, pharmaceuticals and pharmacies. Despite such a slowdown in the health care economy, virtual health services such as e-pharmacy, e-prescription, and e-health have seen robust growth during this epidemic. This growth in the e-pharmacy sector can be attributed to increasing consumer choices to buy medicines digitally through virtual pharmacies, which encourages social distancing measures. In addition, reduced outdoor activities excluding the distribution and procurement of necessary goods and services such as pharmaceuticals, as well as increasing demand for face masks and hand sanitizers have spurred growth in the North American e-pharmacy market.
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The North American e-pharmacy market is expected to a CAGR of 18.2% over the forecast period 2020-2027 and is expected to have a market valuation of $ 31,030.0 million in 2020.
E-pharmacies can essentially manage various problems faced by customers, such as providing alternatives to the prescribed medication or sharing extensive data on medication, providing easy access to the hard-to-find medication, keeping medical records, and others. The use of the e-pharmacy enables customers to buy medication or medication digitally using their smartphone or laptop.
A large part of the North American population has adopted e-pharmacy services quickly, which has led pharmaceutical companies in this region to focus on adopting digital pharmacy services, or e-pharmacies. In March 2020, Digital Health and Supply Chain Entrepreneurs launched Genius Rx, a full-time, fully computerized digital pharmacy platform. In June 2020 Medicure Inc. started a virtual pharmacy program directly to patients to dispense ZYPITAMAG in the USA. This virtual initiative will enable the organization to offer services at a controlled cost without the fees for filling pharmacies and to increase product availability.
Circumstances such as substance abuse are expected to hamper the growth of the North American e-pharmacy market. The virtual availability of prescription drugs such as anxiolytics, sedative hypnotics, narcotic pain relievers, and stimulants on digital retail platforms can lead to an increased incidence of substance abuse and create serious public health concerns.
In addition, the availability of illegal e-pharmacies in large numbers can reduce customer confidence, which will limit the growth of the North American e-pharmacy market. There are many counterfeit or illegal e-pharmacies that do not comply with government regulations. These pharmacies offer drugs without a doctor’s prescription and regardless of the patient’s medical history. As a result, there is an increase in the number of counterfeit drug shipments that compromise customer confidence in online drug purchases.
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- Depending on the product type: Over-the-counter and Prescription (Rx).
According to the country, the North American e-pharmacy market is divided into the United States and Canada. With the emergence of newer e-pharmacy platforms in the USA, robust growth is expected in the North American e-pharmacy market. In December 2019, the British e-pharmacy company MedExpress announced that it would launch Zip Health, the company’s American franchise, in the first quarter of 2020 to distribute drugs in the US via online mode. In June 2020, Medicure Inc launched a Direct-to-Patient Virtual Pharmacy Program to dispense ZYPITAMAG in the U.S. This virtual initiative will enable the organization to offer services at a controlled cost without the retail pharmacy refill fees and increase product availability.
Important companies contributing to the North American e-pharmacy market are Familymeds, Giant Eagle, Inc., Medisave, CVS Caremark, PlanetRX.com Inc., Zur Rose Group AG, Walgreen Company, Cigna, Optum Rx, Inc. and Kroger Co.
- North America E-Pharmacy Market By Product Type:
- Without prescription
- North America E-Pharmacy Market, By Country:
- Company profiles
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