The North American online pharmacy market is anticipated to grow at a CAGR of 15.4% during the forecast period (2024-2031). The market growth is driven by the high adoption of e-commerce, an increase in online orders, and growth in the elderly population. Additionally, the presence of well-established players and an increase in pharmaceutical needs, especially by baby boomers is contributing to the growth of the online pharmacy market in the region. Increasing digitization is further providing opportunities for market growth. However, the rising threat of illegal online pharmacies is restraining the market growth during the forecast period. The North American online pharmacy market is segmented by medicine type (OTC medicines and prescription medicines).
The US is expected to dominate the market during the forecast period, owing to the widespread adoption of online pharmacies in the country. Additionally, Canada is expected to record rapid growth attributed to the increasing penetration of the internet in the economy.
The key players in the North American online pharmacy market are contributing significantly to the market growth by providing different types of products and increasing their geographical presence. The key players in the market include Walgreens Boots Alliance, Inc., UnitedHealth Group (Optum), Walmart Inc., Rite Aid Corp., and Albertsons Companies, Inc., among others.
Recent Developments
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