Prescription Delivery Services Market Report 2022: R&D Consistency Drives Sector Growth

An efficient healthcare infrastructure is built on timely drug delivery. The rising prevalence of chronic and infectious diseases has accelerated prescription drug production, prompting vendors to develop effective distribution networks.

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Furthermore, advanced Prescription Delivery Systems have not only aided in the provision of round-the-clock customer service, but have also aided in the management of dosage, therapy adherence, and the provision of feedback to clinicians.

Consumer touch points and supply chains, such as e-commerce, convenience stores, and retail stores, have significantly altered the landscape of prescription delivery services. Advancements such as drone-based delivery and tracker based prescriptions are helping usher in smooth customer experience.

Prescription Delivery Services Market- Key Takeaways

• Diabetes prescription drugs will wield significant power, accounting for 36.7% of the market by 2030.
• The ease of access to drugs for chronic conditions is expected to propel retail pharmacy growth to new heights.
• North America is expected to grow at a CAGR of 18.4% between 2020 and 2030, owing to the presence of numerous convenience and pharmacy stores.
• By 2030, the global prescription delivery services market is expected to be worth $ 434.3 billion.

“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.

COVID-19 Impact Insights

The COVID-19 pandemic has generated fertile ground for the prescription delivery services market. The imposition of nationwide lockdowns to enforce social distancing have reduced footfalls across conventional pharmacies. This has compelled patients to rely on online retail platforms to avail their medicines.

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Furthermore, the increased vulnerability of geriatrics with co-morbidities to the coronavirus has necessitated stockpiling of essential medicines, keeping the need for prescription delivery services afloat for the duration of the pandemic. This panic buying will result in an 80% year-on-year increase.

Growth is expected to be especially strong in the United States, China, and India, which have the highest rates of infection. These countries, which account for 40% of global infection rates, have seen an unprecedented increase in prescription medicine hoarding by individual households. This will last until the second half of 2021.

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, Insightfil and ScriptDrop to name a few.

Walgreens, a prominent retail pharmaceutical distributor, has a robust presence in the global prescription delivery services market. 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.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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