Market Trends of Global Telepharmacy Industry
This section covers the major market trends shaping the Telepharmacy Market according to our research experts:
Remote Dispensing Segment is Expected to Witness Significant Growth Over the Forecast Period
A remote dispensing facility dispenses prescription drugs without the requirement of the use of an onsite pharmacist. Remote dispensing is highly favorable for patients living in remote areas, who have less access to healthcare facilities, and are medically or socially vulnerable. Virtual counseling via smartphone or computers/Laptops has opened many doors and opportunities for specialty counseling for patients with chronic conditions such as HIV, AIDS, or diabetes.
As per the data published on world internet stats, worldwide internet penetration grew to nearly 4.8 billion internet users by June 30, 2020, depicting approximately 62% of the total population across the globe. Such factors are likely to boost the adoption of the telepharmacy market, thereby contributing to the studied market growth.
Furthermore, continuous collaboration and expansion by major players are positively affecting the growth of the segment. For instance, In May 2022 Medly Pharmacy announced its expansion into the Atlanta metro area. Same-day prescription delivery, along with patient counseling, medication reminder, and therapy adherence will be among the other services offered within 50 miles of the Atlanta Area. In February 2021, Certintell joined the Association for Community Affiliated Plans which represents 78 health plan members and over 20 million in Medicaid, Medicare, and other public programs. Certinell Telehealth is educating patients with chronic illnesses about the importance of being vaccinated. In November 2020 Swisslog Healthcare announces the commencement of a partnership with Summa Health to execute a meds-to-beds program on the healthcare organization's Akron campus. The new meds-to-beds program includes robotic delivery of prescribed medication and consulting services conducted at the bedside in preparation for patient discharge
North America is Expected to Dominate the Telepharmacy Market
North America is expected to dominate the market owing to factors such as the easy availability of technologically advanced products, rising telepharmacy services, and awareness about health in this region. According to Centers for Disease Control and Prevention in 2019, 37.3 million people have diabetes (11.3% of the United States population), 8.5 million people (23.0% of adults are undiagnosed).
Key product launches, high concentration of market players, or manufacturer's presence are some of the factors driving the growth of the telepharmacy market in the Region. For instance, in May 2022, Amwell announced the continued expansion of Athe mwell Comprehensive Behavioral Health Program can be customized to meet specific population needs across the full spectrum of a mental health crisis. Therefore, owing to the aforesaid factors the growth of the studied market is anticipated in the North America Region.
