The North American online pharmacy market is anticipated to grow at a CAGR of 15.4% during the forecast period. High adoption of e-commerce, an increase in online orders, and growth in the elderly population are some of the key factors that will contribute to the largest market share of this region during the forecast period as well. The presence of well-established players and an increase in pharmaceutical needs, especially by baby boomers, are also expected to drive the market growth in this region.

Further, due to the current COVID-19 lockdown in the country, a large number of consumers prefer to purchase medicine online. Governments in North American countries are taking the required steps to secure lives by enforcing lockdowns, monitoring, exclusion, and treatment. Due to limits in public activities, the role of e-commerce in pharmacy continues to expand. The demand for online pharmacy is increasing due to the increasing penetration of e-commerce and the growing population using online transactions. For instance, more than 80% of the US population is connected to e-pharmacy, and around 80% of US prescriptions are e-prescriptions.

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The North American online pharmacy market is segmented based on medicine type. Based on medicine type, the online pharmacy market is segmented into OTC medicines and prescription medicines. OTC medicines is estimated to be the dominating medicine type sub-segment, growing at a hefty CAGR.   

Country wise, the North American online pharmacy market is bifurcated into the US and Canada. US is expected to lead the market share owing to the presence of an abundance of entertainment companies. Canada is expected to record a rapid growth rate owing to the increasing internet penetration. The US is among the top countries in North America and around the world to adopt online pharmacy with excellent infrastructure. The rise in the number of people suffering from COVID-19 is escalating the market growth in North America.

Research Methodology

The market study of the North American online pharmacy market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. North American Online Pharmacy Market Research and Analysis by Medicine Type

The Report Covers

• Comprehensive research methodology of the North American online pharmacy market.
• This report also includes a detailed and extensive market overview with the key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the North American online pharmacy market.
• Insights about market determinants which are stimulating the North American online pharmacy market.
• Detailed and extensive market segments with the regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.