The Global Prescription Delivery Services Industry is poised for remarkable growth, with an ambitious goal of achieving US$ 434.3 million in revenue by 2030. This promising outlook is driven by a robust 17.8% Compound Annual Growth Rate (CAGR) that is expected to be sustained from 2022 to 2030. This growth trend reflects the rapid expansion of the Global Prescription Delivery Services Industry, which is projected to commence at approximately US$ 117.2 million in 2022.
Modern advancements in prescription delivery systems have ushered in a new era of healthcare, revolutionizing the way patients access their medications. This innovation brings several advantages, including 24/7 customer support, precise dosage control, improved medication adherence, and valuable feedback for healthcare professionals. Patients can now experience greater convenience and enhanced healthcare outcomes through the efficiency of prescription delivery services.
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The landscape of prescription delivery services has been significantly changed by improvements in customer touch points and supply chains, including e-commerce, convenience stores, and retail outlets. Smooth client experiences are being ushered in by innovations like drone-based deliveries and tracker-based medicines.
Global Prescription Delivery Services Industry- Key Takeaways:
- Diabetic prescription drugs to hold major sway, poised to capture 36.7% market share by 2030
- Ease of access to drugs addressing chronic conditions is slated to drive retail pharmacy growth to greater heights
- North America to expand stupendously at a CAGR of 18.4% from 2020-2030, attributed to the presence of multiple convenience and pharmacy stores
- Global Prescription Delivery Services Industry to reach US$ 434.3 Million by 2030-end
“Adoption of self-checkout kiosks and medicine dispensing machines shall enhance medicine purchasing experience of customers, permitting vendors to experience greater customer loyalty,” concludes the FMI analyst.
Growth is especially anticipated to be robust across the U.S, China and India, countries with the highest rates of infections. Collectively accounting for 40% of the global infection rate, these countries have witnessed an unprecedented increase in hoarding prescription medicines by individual households. This shall continue until the latter-half of 2021.
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Market Witnessing Entry of e-Commerce Players
The Prescription Delivery Service Market is witnessing entry of e-Commerce, pharmacy and retail chains, albeit at a local or regional level. Technological developments, new product launches and collaborations characterize some critical expansion strategies of market players.
Some of the key players in the Prescription Delivery Service Market are: Walgreens Co., Walmart Stores Inc., CVS Health, Giant Eagle Inc., Express Scripts Holding Company, Ali Health and Kroger Co. to name a few.
Besides these established players, several startup companies are also emerging as potential game changers in the industry. These include NetMeds, Kfyao, Capsule, Myra Medicines, NURX, MedAvail, Zipdrug, Insightful and ScriptDrop to name a few.
Walgreens, a prominent retail pharmaceutical distributor, has a robust presence in the Global Prescription Delivery Services Industry. The company offers refills, auto refills, drug information and home delivery services.
In 2017, the company acquired Rite Aid for a sum of US$ 5.2 billion, resulting in the merger of two of the United States’ three largest pharmacy chains.
Key Market Segments Covered In Prescription Delivery Services Industry Research
By Disease Indication:
- Prescription Drugs
- Diabetes
- Hypertension
- Cholesterols disorders
- Wellness Supplement
- Diagnostics Kits
- OTC Drugs
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By Distribution Channel:
- Pharmacy Stores
- Retail Pharmacy
- Drug Stores
- Healthcare Institutions
- Clinics
- Research institutes
By Region:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa (MEA)
Author
Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.
Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.
Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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