Prescription Delivery Services Market Players Focus on Sales through Online Retailing and Convenience Stores
Timely drug delivery has always been of utmost importance for the effective functioning of a healthcare infrastructure. Increased prevalence of infectious and chronic ailments has sped up the production of prescription drugs, thereby prompting market vendors to establish efficient and effective network of distribution. This factor is estimated to propel growth of the global prescription delivery services market over the tenure of assessment, from 2020 to 2030
Future Market Insights (FMI) recent research reports on the prescription delivery services market is anticipated to witness a staggeringly CAGR of 18.4% during 2020-2030. According to the research, the progressions in prescription delivery systems have not only helped in offering round-the-clock consumer services but also assisted in managing dosage, provide feedback to clinicians, and therapy adherence. The COVID-19 outbreak has brought forth significant prospects for the prescription delivery services market. The infliction of nationwide lockdowns to impose social distancing has limited footfalls all over conventional pharmacies. This has compelled patients to depend upon online retail platforms to avail of their medicines.
Moreover, increased geriatrics vulnerability experiencing from co-morbidities to the COVID-19 has required amassing of essential medicines, therefore keeping the requirements for prescription delivery services afloat all through the pandemic’s duration.
“Implementation of medicine dispensing machines and self-checkout kiosks will improve the medicine buying experience of the consumer, allowing vendors to experience greater consumer loyalty,” said a lead analyst at FMI.
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Prescription Delivery Services Market- Key Takeaways
- The global prescription delivery services market is anticipated to account for US$ 434.3 Mn towards 2030-end
- By disease indication, prescription drugs are poised to achieve the highest market share through 2030, attaining around 50% of the worldwide market.
- In terms of distribution channels, retail pharmacy stores will be accounting for the majority of all prescription drug sales worldwide.
Prescription Delivery Services Market – Key Trends
- Online to Offline (O2O) business models from prominent companies have created new growth avenues.
- The growing prevalence of chronic conditions has increased demand for effective healthcare delivery systems thus contributing to the global market growth.
- Healthcare providers are seeking to leverage electronic pharmacies as a result of smart devices and rising internet penetration across probable markets.
- Still being in the infancy stage, the modern prescription delivery services market will foresee lucrative growth prospects over the assessment period.
- North America will account for US$ 174.2 Mn, attaining over 40% of the total market share.
- Europe is likely to be the second biggest market with France, Germany, and the U.K. leading growth.
- East Asia is poised to capture sturdy growth at a CAGR of 11.5% during 2020-2030.
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Prescription Delivery Services Market – Competitive Landscape
Prominent companies identified in the prescription delivery service market include Walmart Stores Inc., Walgreens Co., CVS Health, Express Scripts Holding Company, Giant Eagle Inc., Kroger Co., and Ali Health. Several startup companies are emerging giving sturdy challenges in the sector such as Kfyao, NetMeds, Capsule, NURX, Myra Medicines, MedAvail, Insightfil Zipdrug, and ScriptDrop.
The global market is foreseeing the entrance of retail chains, pharmacy, and e-Commerce, albeit at a regional or local level. Technological progressions, novel product launches, and collaborations characterize some critical growth strategies of companies. For instance
Alibaba’s Ali Health declared that it is introducing more assets into its product lines, keeping in mind the present pandemic landscape.
Prescription Delivery Services Market – Segmentation
- Therapeutic Drugs
- Cholesterol Disorders
- Wellness Supplements
- OTC Drugs
- Diagnostic Kits
- Pharmacy Stores
- Retail Pharmacy
- Drug Stores
- Healthcare Institutions
- Research Institutes
- North America
- Latin America
- South Asia
- East Asia
- Middle East & Africa
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Get Valuable Insights into the Prescription Delivery Services Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global Prescription Delivery Services market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the Prescription Delivery Services market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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