At what pace is the telepharmacy market growing, and what is its estimated value?
The telepharmacy market size has grown rapidly in recent years. It will grow from $12.23 $ billion in 2024 to $14.27 $ billion in 2025 at a compound annual growth rate (CAGR) of 16.6%. The growth in the historic period can be attributed to the focus on reducing healthcare disparities, government, and health insurance initiatives, increased focus on preventive care, increased demand for remote healthcare services, and healthcare accessibility and rural outreach.
The telepharmacy market size is expected to see rapid growth in the next few years. It will grow to $26.18 $ billion in 2029 at a compound annual growth rate (CAGR) of 16.4%. The growth in the forecast period can be attributed to increase in virtual care partnerships, growing adoption of cloud-based solutions, enhanced chronic disease management, demand for integrated care models, and growth of home healthcare services. Major trends in the forecast period include technological integration with wearable devices, development of mobile health (mHealth) applications, advancements in telecommunication technologies, advances in telehealth technologies, and integration with electronic health records (EHRs).
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What are the top drivers to the rising demand in the telepharmacy market?
The high demand for chronic disease management is expected to propel the growth of telepharmacy market going forward. Chronic disease management refers to the ongoing process of treating, monitoring, and supporting individuals with long-term medical conditions such as diabetes, hypertension, heart disease, asthma, and arthritis. The demand for chronic disease management is increasing due to the rising prevalence of chronic conditions and the growing need for long-term, personalized care to improve patient outcomes. Telepharmacy enhances chronic disease management by providing remote medication counseling and monitoring, improving patient adherence and access to care. For instance, in August 2022, according to a report published by the American College of Cardiology, a US-based non-profit medical association, in the United States, it is projected that all four major cardiovascular risk factors will increase from 2025 to 2060. Diabetes is expected to see the largest percentage rise, with a 39.3% increase to 55 million individuals, followed by dyslipidemia (27.6% to 126 million), hypertension (25.1% to 162 million), and obesity (18.3% to 126 million). Therefore, the high demand for chronic disease management is driving the growth of the telepharmacy market.
How is the telepharmacy market segmented?
The telepharmacymarket covered in this report is segmented –
1) By Type: Inpatient, Remote Dispensing, Intravenous Admixture, Patient Counselling, Drug Therapy Monitoring, Refill Authorization For Prescription Drugs
2) By Component: Hardware, Software
3) By Delivery Mode: On Premises, Web Based, Cloud Based
4) By Application: Hospitals, Small Pharmacies, Nursing Home, Prisons, Military Base, War Ships
Subsegments:
1) Inpatient: Hospital Telepharmacy, Specialty Pharmacy
2) Remote Dispensing: Automated Dispensing Machines, Remote Patient Monitoring
3) Intravenous Admixture: Total Parenteral Nutrition, Compounded Medications
4) Patient Counselling: Video Consultations, Chat Support
5) Drug Therapy Monitoring: Adherence Monitoring, Side Effect Management
6) Refill Authorization For Prescription Drugs: Automatic Refills, Patient Request Systems
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Who are the top competitors in the telepharmacy market?
Major companies operating in the telepharmacy market are Cardinal Health Inc., Dartmouth-Hitchcock Medical Center, Comprehensive Pharmacy Services Inc., Tabula Rasa HealthCare, Alto Pharmacy, CarepathRx, Truepill, Carepoint Pharmacy, Pipeline Health Holdings, Nurx, Advanced Rx Management, Mosaic Wellness, MedTel Services, Medication Review Inc., Phlo, Locke Bio, PharmD Live, North West TelePharmacy Solutions, One Touch Telehealth, Heyva Health
What significant trends should we anticipate in the telepharmacy market over the forecast period?
Major companies operating in the telepharmacy market are focusing on developing innovative offerings, such as telehealth platforms, to enhance patient access to pharmaceutical care. A telehealth platform is a digital technology solution that enables the remote delivery of healthcare services through communication tools such as video conferencing, messaging, and secure data sharing. It facilitates virtual consultations, monitoring, diagnosis, and treatment between healthcare providers and patients without the need for in-person visits. For instance, in January 2024, Eli Lilly, a US-based pharmaceutical company, launched LillyDirect, a telehealth platform aimed at selling certain medications directly to consumers. This innovative approach allows patients to obtain prescriptions for conditions such as obesity, migraines, and diabetes without the need for traditional healthcare pathways, effectively bypassing the usual doctor-to-pharmacy route. Key features include direct access to prescriptions and home delivery.
Which regional trends are influencing the telepharmacy market, and which area dominates the industry?
North America was the largest region in the telepharmacy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telepharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Telepharmacy Market Report 2025 Offer?
The telepharmacy market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Telepharmacy is the provision of pharmaceutical care through telecommunication technology, allowing pharmacists to offer consultations, medication management, and prescription services remotely. It enhances accessibility to pharmacy services, especially in underserved or rural areas. This approach improves patient care by providing timely support and medication counseling.
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