The online pharmacy market in the US is anticipated to rise at a considerable rate of 15.6% attributed to the large number of consumers prefer to purchase medicine online due to the COVID-19 lockdown. The lockdowns limit public activities, except for the procurement and purchasing of critical goods and services. Thus, the role of e-commerce in both wholesale and retail trade continues to expand in the country. There is also a 200% rise in Google Search Volumes for COVID-19 related health items. 

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Also, it was estimated that in 2017 around 16% of the American population aged 65 years or older and a statistic predicted to hit 22% by 2050. This is a significant increase since 1950 when only 8% of the population was 65 or older. In recent years, the aging population of the US has come into focus as a cause for concern, as the nature of work and retirement is expected to change. If the population is projected to live longer than in past centuries, the economy is required to adjust in order to satisfy the needs of people. In fact, the fertility rate in the US has dropped in the past 20 years, which means that there are not as many new people to replace those who leave the workforce. So, a bigger geriatric population means more demand for medicines, which is expected to boost the online pharmacy market during the forecast period.

The US 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. The US is home to numerous online pharmacy giants and these giants are active in the same space. Amazon purchased PillPack (June 2018), an e-pharmacy mail order service with licenses in all the US states. PillPack supplies pre-sorted prescription drugs and other services to the aging population, which require treatment for multiple complicated, chronic conditions. From a business standpoint, the purchase of PillPack is a clear step forward for Amazon to make its way into the pharmaceutical industry. Moreover, PillPack by Amazon Pharmacy is expected to make the pharmacy experience safer and more convenient.

Research Methodology

The market study of the US 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. US Online Pharmacy Market Research and Analysis by Medicine Type

The Report Covers

• Comprehensive research methodology of the US 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 regulations and other government policies impacting the US online pharmacy market.
• Insights about market determinants which are stimulating the US online pharmacy market.
• Extensive profiles and recent developments of market players.