Telepharmacy Market (By Service (Remote Order Entry, Pharmacy Consultation, Others) By End-user (Hospitals, Primary Care Centers, Others) – Prospective Landscape, Size, Share, Growth, Opportunities and Industry Forecast 2019-2028

Published DateReport CodeNo. of PagesReport Format
August – 2020AMR-9031110PDF / Excel

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Market Insights

The global telepharmacy market was valued at US$ XX Mn in 2019 and anticipated to grow at a CAGR of 16.9% throughout the forecast period to reach over US$ XX Mn by 2028. The increased demand for telepharmacy in the developing economies of Asia Pacific along with the rising prevalence of chronic diseases such as cancer, stroke, and others in the rural areas are the major growth factors of the market. The growing preference of online health services across the globe and rising geriatric population are further expected to drive market growth over the upcoming years. The progression of technology has helped in arranging consultation services via video calls in the rural and remote locations owing to which the penetration of telepharmacy is presumed to grow at a significant rate in the near future.

Market Trends

The major telepharmacy market trends are the growing geriatric population across the globe along with the growing prevalence of diseases in the rural as well as remote locations. According to recent statistics by the United Nations Department of Economic and Social Affairs (UNDESA), the aging population as a percentage of the total population is growing rapidly across all regions. In 2000, in North America, the people age 60 years and above are 16.2% of the total population which is estimated to reach over 25.1% of the total population by 2025. Similarly, in the Europe the people age 60 years and more in 2000 were 20.1% of the total population which is estimated to reach over 28.8% of the total population by 2025. Hence, the need for telepharmacy is growing rapidly.

Market Drivers

The key telepharmacy market drivers are rising internet penetration, the growing use of smartphone devices, and the advent of technological innovations such as artificial intelligence (AI), internet of things (IoT), and others. According to a report published by GSM Association in March 2020, the total number of mobile subscribers across the globe is around 5.2 Bn till December 2019 which is around 67% of the global population and the number of unique mobile subscribers is estimated to reach over 5.8 Bn by 2025, accounting for around 70% of the global population. Therefore, the market is estimated to grow rapidly.

Market Restraints

The global telepharmacy market restraints are the execution and implementation of comprehensive telepharmacy law and stringent government regulations for licensing requirements. The number of telepharmacy policy issues such as roles of telepharmacist, the physical location of telepharmacist, pharmacy technicians, nurses, and other services providers in the distribution systems are estimated to hinder the market growth.

Segment Insights

Based on the end-use segment analysis, the global telepharmacy market is further bifurcated into hospitals, primary care centers, and others. The hospital category had the largest share in 2019 and had a contribution of more than 40% in the global telepharmacy market size in 2019. This is mainly due to significant advantages of telepharmacy in hospitals such as unavailability of pharmacist in rural hospitals, lack of pharmacist skills in rural areas, and others. Besides, the increased healthcare expenditure across the globe is estimated to drive the primary care center category growth in the near future.

Regional Insights

North America had the highest share in the global telepharmacy market in 2019 and accounted for over 40% of the global market revenue share in the same year. The favorable reimbursement policies along with the early adoption of advanced technologies are the major factors for regional dominance. The U.S. had a major share in the North America telepharmacy market in 2019 and accounted for more than 80% revenue share in the same year. The U.S. had its dominance due to the rising geriatric population and increased internet penetration in rural areas. The growing pharmacy spending and intake of medications are further estimated to drive the country’s growth. As per recent statistics, over 50 million people in the U.S. take 5 or more medications and the spending on adverse drug events (ADEs) and non-optimized drug regimens have reached US$ 528.0 billion each year.

Asia Pacific is estimated to witness the fastest growth during the forecast period owing to the rising geriatric population and increase penetration of the internet in rural areas along with consumer inclination towards online healthcare. According to a recent article by the United Nations Department of Economic and Social Affairs (UNDESA), the people age 60 years and above in Asia Pacific were 8.8% of the total population in 2000 and estimated to reach 14.7% of the total population by 2025.

Top Companies with Recent Development

Noticeable players within the Global Market

  • Medication Review, Inc.
  • Pipeline Health Holdings
  • North West TelePharmacy Solutions
  • McKesson Ventures
  • Mitsui & Co., Inc.
  • AMN Healthcare
  • Telepharmacy Solutions, Inc.
  • One Touch Telehealth
  • Comprehensive Pharmacy Services, Inc.
  • MedTel Services
  • TelePharm, LLC

The above mentioned major players for the global telepharmacy market are investing heavily in Research & Development to introduce new products and offers along with enhanced technology to increase their market share and geographical expansion. In addition, the global telepharmacy market players are concentrating on various strategies such as technological innovations, geographical expansion, acquisitions, strategic collaboration, strategic contracts, new product launches, and mergers to increase their market presence.

Report Scope by Market Segments

This report splits the world telepharmacy market revenue opportunities worldwide, regional, and national levels and gives a comprehensive research study of the most recent industry activities in each of the sub-segments throughout the forecast period. For the reason of this ponder, Alchemy Market Research has segmented the global telepharmacy market report on the premise of services, end-use, and regional analysis:

By Services (Revenue in USD Million)

  • Remote Order Entry
  • Pharmacy Consultation
  • Others

By End-user (Revenue in USD Million)

  • Hospitals
  • Primary Care Centers
  • Others

Regional Perspective (Revenue in USD Million)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Turkey
    • Rest of Middle East & Africa

This report answers key questions such as

  • What are the challenges in the telepharmacy market?
  • What are the factors anticipated to drive the telepharmacy market?
  • What are trends, restraints, and challenges in the global telepharmacy market?
  • Who are the potential customers of telepharmacys?
  • Analysis of key strategies by key market players?
  • Which region is growing rapidly?
  • How do rapidly changing consumer perspectives will affect the telepharmacy market?
  • How is the competitive environment?
  • Comprehensive details of factors that will challenge the growth of the market pre & post Covid-19.
  • How are collaborations evolving in the market?
  • What is the customer sentiment about this market?
  • What are the solutions to the challenges?
  • What are the opportunities in this market?
  • What are the key current & upcoming technological trends estimated to drive the markets?
  • Regions & segment-wise analysis of how various industries will perform?
  • Forecasts on how market drivers, restraints and future opportunities will affect the market dynamics?

The global telepharmacy market is primarily driven by increasing internet penetration and the growing prevalence of chronic diseases across the globe. Telepharmacy offers consultation services to patients in remote locations and ensuring access to excellent health care services in medically reluctant and rural areas. The rising geriatric population along with the increased demand for telepharmacy services due to the COVID-19 pandemic are expected to further propel the global telepharmacy market demand over the forecast period. The increased focus towards health and consumer inclination towards online pharmacy are some other key factors estimated to contribute towards market growth. However, the stringent licensing regulations along with lack of professional tell pharmacists are estimated to hinder the market growth in the upcoming years.

Chapter 1.          Executive Summary

Chapter 2.          Market Introduction

Chapter 3.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – Key Industry Dynamics

3.1.        Key Market Drivers

3.2.        Key Market Restraints

3.3.        Market Opportunities

3.4.        Future Trends

3.5.        Impact Analysis of Drivers and Restraints

Chapter 4.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

Chapter 5.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By Services

5.1.        Remote Order Entry

5.2.        Pharmacy Consultation

5.3.        Others

Chapter 6.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By End-user

6.1.        Hospitals

6.2.        Primary Care Centers

6.3.        Others

Chapter 7.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By Region

7.1.        North America

7.2.        Europe

7.3.        Asia-Pacific

7.4.        Latin America

7.5.        Middle East & Africa

Chapter 8.          North America Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

8.1.        North America Telepharmacy Market– By Services

8.1.1.    Remote Order Entry

8.1.2.    Pharmacy Consultation

8.1.3.    Others

8.2.        North America Telepharmacy Market– By End-user

8.2.1.    Hospitals

8.2.2.    Primary Care Centers

8.2.3.    Others

8.3.        North America Telepharmacy Market– By Country

8.3.1.    U.S.

8.3.2.    Canada

Chapter 9.          Europe Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

9.1.        Europe Telepharmacy Market– By Services

9.1.1.    Remote Order Entry

9.1.2.    Pharmacy Consultation

9.1.3.    Others

9.2.        Europe Telepharmacy Market– By End-user

9.2.1.    Hospitals

9.2.2.    Primary Care Centers

9.2.3.    Others

9.3.        Europe Telepharmacy Market– By Country

9.3.1.    Germany

9.3.2.    France

9.3.3.    UK

9.3.4.    Spain

9.3.5.    Italy

9.3.6.    Rest of Europe

Chapter 10.        Asia Pacific Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

10.1.     Asia Pacific Telepharmacy Market– By Services

10.1.1.  Remote Order Entry

10.1.2.  Pharmacy Consultation

10.1.3.  Others

10.2.     Asia Pacific Telepharmacy Market– By End-user

10.2.1.  Hospitals

10.2.2.  Primary Care Centers

10.2.3.  Others

10.3.     Asia-Pacific Telepharmacy Market– By Country

10.3.1.  China

10.3.2.  India

10.3.3.  Japan

10.3.4.  South Korea

10.3.5.  Rest of Asia-Pacific

Chapter 11.        Latin America Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

11.1.     Latin America Telepharmacy Market– By Services

11.1.1.  Remote Order Entry

11.1.2.  Pharmacy Consultation

11.1.3.  Others

11.2.     Latin America Telepharmacy Market– By End-user

11.2.1.  Hospitals

11.2.2.  Primary Care Centers

11.2.3.  Others

11.3.     Latin America Telepharmacy Market– By Country

11.3.1.  Brazil

11.3.2.  Mexico

11.3.3.  Rest of Latin America

Chapter 12.        Middle East & Africa Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

12.1.     Middle East & Africa Telepharmacy Market– By Services

12.1.1.  Remote Order Entry

12.1.2.  Pharmacy Consultation

12.1.3.  Others

12.2.     Middle East & Africa Telepharmacy Market– By End-user

12.2.1.  Hospitals

12.2.2.  Primary Care Centers

12.2.3.  Others

12.3.     Middle East & Africa Telepharmacy Market– By Country

12.3.1.  UAE

12.3.2.  Saudi Arabia

12.3.3.  Turkey

12.3.4.  Rest of Middle East & Africa

Chapter 13.        Competitive Analysis

13.1.1.  Competition Dashboard

13.1.2.  Company Profiles

13.1.2.1.             Medication Review, Inc.

13.1.2.2.             Pipeline Health Holdings

13.1.2.3.             North West TelePharmacy Solutions

13.1.2.4.             McKesson Ventures

13.1.2.5.             Mitsui & Co., Inc.

13.1.2.6.             AMN Healthcare

13.1.2.7.             Telepharmacy Solutions, Inc.

13.1.2.8.             One Touch Telehealth

13.1.2.9.             Comprehensive Pharmacy Services, Inc.

13.1.2.10.           MedTel Services

13.1.2.11.           TelePharm, LLC

Report Description

Market Insights

The global telepharmacy market was valued at US$ XX Mn in 2019 and anticipated to grow at a CAGR of 16.9% throughout the forecast period to reach over US$ XX Mn by 2028. The increased demand for telepharmacy in the developing economies of Asia Pacific along with the rising prevalence of chronic diseases such as cancer, stroke, and others in the rural areas are the major growth factors of the market. The growing preference of online health services across the globe and rising geriatric population are further expected to drive market growth over the upcoming years. The progression of technology has helped in arranging consultation services via video calls in the rural and remote locations owing to which the penetration of telepharmacy is presumed to grow at a significant rate in the near future.

Market Trends

The major telepharmacy market trends are the growing geriatric population across the globe along with the growing prevalence of diseases in the rural as well as remote locations. According to recent statistics by the United Nations Department of Economic and Social Affairs (UNDESA), the aging population as a percentage of the total population is growing rapidly across all regions. In 2000, in North America, the people age 60 years and above are 16.2% of the total population which is estimated to reach over 25.1% of the total population by 2025. Similarly, in the Europe the people age 60 years and more in 2000 were 20.1% of the total population which is estimated to reach over 28.8% of the total population by 2025. Hence, the need for telepharmacy is growing rapidly.

Market Drivers

The key telepharmacy market drivers are rising internet penetration, the growing use of smartphone devices, and the advent of technological innovations such as artificial intelligence (AI), internet of things (IoT), and others. According to a report published by GSM Association in March 2020, the total number of mobile subscribers across the globe is around 5.2 Bn till December 2019 which is around 67% of the global population and the number of unique mobile subscribers is estimated to reach over 5.8 Bn by 2025, accounting for around 70% of the global population. Therefore, the market is estimated to grow rapidly.

Market Restraints

The global telepharmacy market restraints are the execution and implementation of comprehensive telepharmacy law and stringent government regulations for licensing requirements. The number of telepharmacy policy issues such as roles of telepharmacist, the physical location of telepharmacist, pharmacy technicians, nurses, and other services providers in the distribution systems are estimated to hinder the market growth.

Segment Insights

Based on the end-use segment analysis, the global telepharmacy market is further bifurcated into hospitals, primary care centers, and others. The hospital category had the largest share in 2019 and had a contribution of more than 40% in the global telepharmacy market size in 2019. This is mainly due to significant advantages of telepharmacy in hospitals such as unavailability of pharmacist in rural hospitals, lack of pharmacist skills in rural areas, and others. Besides, the increased healthcare expenditure across the globe is estimated to drive the primary care center category growth in the near future.

Regional Insights

North America had the highest share in the global telepharmacy market in 2019 and accounted for over 40% of the global market revenue share in the same year. The favorable reimbursement policies along with the early adoption of advanced technologies are the major factors for regional dominance. The U.S. had a major share in the North America telepharmacy market in 2019 and accounted for more than 80% revenue share in the same year. The U.S. had its dominance due to the rising geriatric population and increased internet penetration in rural areas. The growing pharmacy spending and intake of medications are further estimated to drive the country’s growth. As per recent statistics, over 50 million people in the U.S. take 5 or more medications and the spending on adverse drug events (ADEs) and non-optimized drug regimens have reached US$ 528.0 billion each year.

Asia Pacific is estimated to witness the fastest growth during the forecast period owing to the rising geriatric population and increase penetration of the internet in rural areas along with consumer inclination towards online healthcare. According to a recent article by the United Nations Department of Economic and Social Affairs (UNDESA), the people age 60 years and above in Asia Pacific were 8.8% of the total population in 2000 and estimated to reach 14.7% of the total population by 2025.

Top Companies with Recent Development

Noticeable players within the Global Market

  • Medication Review, Inc.
  • Pipeline Health Holdings
  • North West TelePharmacy Solutions
  • McKesson Ventures
  • Mitsui & Co., Inc.
  • AMN Healthcare
  • Telepharmacy Solutions, Inc.
  • One Touch Telehealth
  • Comprehensive Pharmacy Services, Inc.
  • MedTel Services
  • TelePharm, LLC

The above mentioned major players for the global telepharmacy market are investing heavily in Research & Development to introduce new products and offers along with enhanced technology to increase their market share and geographical expansion. In addition, the global telepharmacy market players are concentrating on various strategies such as technological innovations, geographical expansion, acquisitions, strategic collaboration, strategic contracts, new product launches, and mergers to increase their market presence.

Report Scope by Market Segments

This report splits the world telepharmacy market revenue opportunities worldwide, regional, and national levels and gives a comprehensive research study of the most recent industry activities in each of the sub-segments throughout the forecast period. For the reason of this ponder, Alchemy Market Research has segmented the global telepharmacy market report on the premise of services, end-use, and regional analysis:

By Services (Revenue in USD Million)

  • Remote Order Entry
  • Pharmacy Consultation
  • Others

By End-user (Revenue in USD Million)

  • Hospitals
  • Primary Care Centers
  • Others

Regional Perspective (Revenue in USD Million)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of Asia-Pacific
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • UAE
    • Saudi Arabia
    • Turkey
    • Rest of Middle East & Africa

This report answers key questions such as

  • What are the challenges in the telepharmacy market?
  • What are the factors anticipated to drive the telepharmacy market?
  • What are trends, restraints, and challenges in the global telepharmacy market?
  • Who are the potential customers of telepharmacys?
  • Analysis of key strategies by key market players?
  • Which region is growing rapidly?
  • How do rapidly changing consumer perspectives will affect the telepharmacy market?
  • How is the competitive environment?
  • Comprehensive details of factors that will challenge the growth of the market pre & post Covid-19.
  • How are collaborations evolving in the market?
  • What is the customer sentiment about this market?
  • What are the solutions to the challenges?
  • What are the opportunities in this market?
  • What are the key current & upcoming technological trends estimated to drive the markets?
  • Regions & segment-wise analysis of how various industries will perform?
  • Forecasts on how market drivers, restraints and future opportunities will affect the market dynamics?
Report Synopsis

The global telepharmacy market is primarily driven by increasing internet penetration and the growing prevalence of chronic diseases across the globe. Telepharmacy offers consultation services to patients in remote locations and ensuring access to excellent health care services in medically reluctant and rural areas. The rising geriatric population along with the increased demand for telepharmacy services due to the COVID-19 pandemic are expected to further propel the global telepharmacy market demand over the forecast period. The increased focus towards health and consumer inclination towards online pharmacy are some other key factors estimated to contribute towards market growth. However, the stringent licensing regulations along with lack of professional tell pharmacists are estimated to hinder the market growth in the upcoming years.

Table of Content

Chapter 1.          Executive Summary

Chapter 2.          Market Introduction

Chapter 3.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – Key Industry Dynamics

3.1.        Key Market Drivers

3.2.        Key Market Restraints

3.3.        Market Opportunities

3.4.        Future Trends

3.5.        Impact Analysis of Drivers and Restraints

Chapter 4.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

Chapter 5.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By Services

5.1.        Remote Order Entry

5.2.        Pharmacy Consultation

5.3.        Others

Chapter 6.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By End-user

6.1.        Hospitals

6.2.        Primary Care Centers

6.3.        Others

Chapter 7.          Global Telepharmacy Market– Analysis and Revenue Forecast 2019-2028 – By Region

7.1.        North America

7.2.        Europe

7.3.        Asia-Pacific

7.4.        Latin America

7.5.        Middle East & Africa

Chapter 8.          North America Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

8.1.        North America Telepharmacy Market– By Services

8.1.1.    Remote Order Entry

8.1.2.    Pharmacy Consultation

8.1.3.    Others

8.2.        North America Telepharmacy Market– By End-user

8.2.1.    Hospitals

8.2.2.    Primary Care Centers

8.2.3.    Others

8.3.        North America Telepharmacy Market– By Country

8.3.1.    U.S.

8.3.2.    Canada

Chapter 9.          Europe Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

9.1.        Europe Telepharmacy Market– By Services

9.1.1.    Remote Order Entry

9.1.2.    Pharmacy Consultation

9.1.3.    Others

9.2.        Europe Telepharmacy Market– By End-user

9.2.1.    Hospitals

9.2.2.    Primary Care Centers

9.2.3.    Others

9.3.        Europe Telepharmacy Market– By Country

9.3.1.    Germany

9.3.2.    France

9.3.3.    UK

9.3.4.    Spain

9.3.5.    Italy

9.3.6.    Rest of Europe

Chapter 10.        Asia Pacific Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

10.1.     Asia Pacific Telepharmacy Market– By Services

10.1.1.  Remote Order Entry

10.1.2.  Pharmacy Consultation

10.1.3.  Others

10.2.     Asia Pacific Telepharmacy Market– By End-user

10.2.1.  Hospitals

10.2.2.  Primary Care Centers

10.2.3.  Others

10.3.     Asia-Pacific Telepharmacy Market– By Country

10.3.1.  China

10.3.2.  India

10.3.3.  Japan

10.3.4.  South Korea

10.3.5.  Rest of Asia-Pacific

Chapter 11.        Latin America Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

11.1.     Latin America Telepharmacy Market– By Services

11.1.1.  Remote Order Entry

11.1.2.  Pharmacy Consultation

11.1.3.  Others

11.2.     Latin America Telepharmacy Market– By End-user

11.2.1.  Hospitals

11.2.2.  Primary Care Centers

11.2.3.  Others

11.3.     Latin America Telepharmacy Market– By Country

11.3.1.  Brazil

11.3.2.  Mexico

11.3.3.  Rest of Latin America

Chapter 12.        Middle East & Africa Telepharmacy Market– Analysis and Revenue Forecast 2019-2028

12.1.     Middle East & Africa Telepharmacy Market– By Services

12.1.1.  Remote Order Entry

12.1.2.  Pharmacy Consultation

12.1.3.  Others

12.2.     Middle East & Africa Telepharmacy Market– By End-user

12.2.1.  Hospitals

12.2.2.  Primary Care Centers

12.2.3.  Others

12.3.     Middle East & Africa Telepharmacy Market– By Country

12.3.1.  UAE

12.3.2.  Saudi Arabia

12.3.3.  Turkey

12.3.4.  Rest of Middle East & Africa

Chapter 13.        Competitive Analysis

13.1.1.  Competition Dashboard

13.1.2.  Company Profiles

13.1.2.1.             Medication Review, Inc.

13.1.2.2.             Pipeline Health Holdings

13.1.2.3.             North West TelePharmacy Solutions

13.1.2.4.             McKesson Ventures

13.1.2.5.             Mitsui & Co., Inc.

13.1.2.6.             AMN Healthcare

13.1.2.7.             Telepharmacy Solutions, Inc.

13.1.2.8.             One Touch Telehealth

13.1.2.9.             Comprehensive Pharmacy Services, Inc.

13.1.2.10.           MedTel Services

13.1.2.11.           TelePharm, LLC

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