The market is shifting toward the direct-to-patient model as the ever-expanding digital world opens doors to new services and consumer-friendly Online Pharmacy experiences. The comfort and understanding of online purchasing attract several patients to search for virtual care medications and wellness options.
This has boosted Online Pharmacy to promote more and acquire more consumers through digital platforms. The pandemic has accelerated this shift as most healthcare professionals and patients have adapted to the virtual way to purchase medicines. The trend expects to increase drastically across the US post-COVID-19. The mobile app-based segment will likely grow at a CAGR of over 19% from 2020 to 2026. Mobile applications play a significant role in the global market. They help online pharmacies to get in touch with consumers directly, thereby increasing the patient base.
In 2020, the medication segment accounted for approx. 76% in the U.S. Online Pharmacy market share. The increase in the patient population along with the increased geriatric population is increasing the demand for medications. There is an increase in consumers preferring platforms to purchase medicines due to high purchase convenience. Many customers and patients prefer using online pharmacies for refilling long-term medications.The U.S. Online Pharmacy market by the online branch of brick and mortar expects to reach approx. USD 80 billion by 2026. Most retail companies in the US tend to own an online channel to promote their products and increase the customer base.