Increasing Digitization and Geriatric Population is
Propelling the North American Online Pharmacy Market

The North American
online pharmacy market is anticipated to grow at a CAGR of 15.4% during the
forecast period (2024-2031). The market growth is driven by the high adoption
of e-commerce, an increase in online orders, and growth in the elderly
population. Additionally, the presence of well-established players and an
increase in pharmaceutical needs, especially by baby boomers is contributing to
the growth of the online pharmacy market in the region. Increasing digitization
is further providing opportunities for market growth. However, the rising
threat of illegal online pharmacies is restraining the market growth during the
forecast period. The North American online pharmacy market is segmented by
medicine type (OTC medicines and prescription medicines).

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The US is expected to
dominate the market during the forecast period, owing to the widespread
adoption of online pharmacies in the country. Additionally, Canada is expected
to record rapid growth attributed to the increasing penetration of the internet
in the economy.   

The key players in the
North American online pharmacy market are contributing significantly to the
market growth by providing different types of products and increasing their
geographical presence.  The key players in
the market include Walgreens Boots Alliance, Inc., UnitedHealth Group (Optum),
Walmart Inc., Rite Aid Corp., and Albertsons Companies, Inc., among others.
  

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Recent Developments

·       
In November 2024, the US Food and Drug Administration (FDA)
issued warning letters to Rogue online pharmacies, for being engaged in
illegal activity and violating the US Federal Food, Drug, and Cosmetic Act. The
company was alleged of offering potentially dangerous prescription drugs
to US consumers.

·       
In January 2024, CarelonRx launched CarelonRx Pharmacy,
a digital pharmacy. The platform enables users to engage with pharmacists
via text, chat, or phone 24/7, compare the costs of medications, and easily
track the status of medications throughout the order process. The platform
additionally provides features for push notifications with proactive status
updates. 

·       
In January 2024, Eli Lilly launched a new website-
LillyDirect to allow patients to get weight loss drug prescriptions through a
telehealth provider. The website will offer various weight loss drugs including
the recently approved drug, Zepbound.  

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