Fort Collins, Colorado, April 30, 2024 (GLOBE NEWSWIRE) --
The rise in the prevalence of diseases and the digitization of healthcare fuels the industry's growth.
The market growth is propelled by the confluence of two significant factors, the increasing prevalence of diseases and the growing digitization of healthcare. The surge in chronic diseases worldwide, as highlighted by the World Health Organization (WHO), underscores the urgent need for prescription medications. Conditions such as cardiovascular diseases, cancers, and chronic respiratory ailments account for a staggering 41 million annual deaths globally, constituting approximately 74% of total mortality.
Simultaneously, the healthcare sector is witnessing a rapid adoption of digital tools and services, streamlining processes and enhancing coordination to deliver high-quality medical care. Prescription delivery services, facilitated through pharmacy apps or websites, are gaining traction as patients seek greater convenience and access to affordable medications.
The demand for home delivery services is on the rise, aided by technological advancements like e-prescriptions. Patients benefit from the convenience of ordering medications online, which often translates to lower prices due to competition among vendors. Moreover, some medications may not be readily available in nearby pharmacies, prompting patients to seek alternatives through prescription delivery services for swift access to essential drugs. These services offer additional perks such as timely medication reminders and hassle-free refills, further incentivizing their adoption. As patients increasingly prioritize convenience and accessibility in healthcare, the popularity of prescription delivery services continues to soar, driving market growth.
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Segmentation Overview:
The prescription delivery service market has been segmented into application, distribution channel, and region.
Prescription drugs accounted for the largest market share in 2023.
- The prescription delivery service market has been segmented by application into prescription drugs, wellness supplements, diagnostics kits, and OTC drugs. Prescription drugs held the largest market share in 2022. Telehealth services are becoming increasingly accepted due to their convenience and ease. With the help of telehealth, patients can consult their providers through digital means and get an online prescription.
Pharmacy stores have registered massive growth in recent years.
- Based on the distribution channel, the prescription delivery service market has been segmented into pharmacy stores, healthcare institutions, clinics, and research institutes. The pharmacy stores segment accounted for the greater market share in 2023. Due to increasing competition, major pharmacy stores focus on providing innovative services to consumers to gain a competitive advantage.
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Prescription Delivery Service Market Report Highlights:
- The prescription delivery service market growth is anticipated at a CAGR of 16.5% by 2032.
- The growing demand for faster delivery and advancement in delivery services led to the adoption of drone technology for prescription delivery services.
- North America will likely account for a significant market share in the forthcoming years. The region's robust and advanced healthcare infrastructure is majorly responsible for the increased adoption of digital health solutions.
- Some prominent players in the prescription delivery services market report include Wal-Mart Stores, Inc., Walgreen Co., CVS Health, Express Scripts Holding Company, Giant Eagle, Inc., Ali Health, Kroger Co., Pharmacy2U Limited, Lloyds Pharmacy Limited, Practo, 1mg, Netmeds Marketplace Ltd., and Costco Wholesale Corporation.
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