Press release
Key Telepharmacy Market Trend for 2025-2034: Telepharmacy Innovations Focusing On Telehealth Platforms Platforms For Enhanced Productive Health
Telepharmacy Market Size
Recent years have seen a significant expansion in the telepharmacy market. Forecasts indicate an increase from $12.23 billion in 2024 to $14.27 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 16.6%. The growth during the historical period is attributable to efforts in alleviating healthcare inequalities, initiatives undertaken by governments and health insurance bodies, a growing emphasis on preventative care, a surge in the demand for remote medical services, and improvements in healthcare accessibility particularly in rural areas.
The telepharmacy market is projected to experience significant expansion in the coming years, ballooning to $26.18 billion by 2029 with an annual compound growth rate (CAGR) of 16.4%. This anticipated surge within the forecast period can be ascribed to an upswing in virtual care collaborations, increased usage of cloud-based solutions, improved chronic illness management, the rising need for integrated care models, and expansion of home healthcare services. Leading trends that will shape this period encompass the technological incorporation with wearable devices, creation of mobile health (mHealth) apps, evolution in telecommunication technologies, advancements in telehealth technology, and amalgamation with electronic health records (EHRs).
What Is Stimulating Growth in the Telepharmacy Market?
The telepharmacy market is anticipated to grow owing to the increasing demand for chronic disease management. Chronic disease management constitutes the continuous procedures of monitoring, supporting, and treating patients suffering from long-term health conditions such as diabetes, asthma, hypertension, heart diseases, and arthritis. The rising occurrence of such ailments and the escalating requirement for personalized, long-term care to enhance patients' health outcomes are fuelling this demand. Telepharmacy bolsters chronic disease management with remote medication counseling and monitoring, amplifying patient compliance, and accessibility to medical care. For instance, in August 2022, a study by the American College of Cardiology, a non-profit medical organization based in the US, projected all four crucial cardiovascular risk factors in the US would witness an increase from 2025 to 2060. Among these, diabetes is predicted to see the most substantial rise of 39.3% to 55 million people. This is followed by dyslipidemia at 27.6% (to 126 million people), hypertension at 25.1% (to 162 million people), and obesity at 18.3% (to 126 million people). Therefore, the escalating demand for chronic disease management is fuelling the telepharmacy market's expansion.
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Which Key Market Leaders Are Driving Telepharmacy Industry Growth?
Major companies operating in the telepharmacy market are Cardinal Health Inc., Dartmouth-Hitchcock Medical Center, Comprehensive Pharmacy Services Inc., Tabula Rasa HealthCare, Alto Pharmacy, CarepathRx, Truepill, Carepoint Pharmacy, Pipeline Health Holdings, Nurx, Advanced Rx Management, Mosaic Wellness, MedTel Services, Medication Review Inc., Phlo, Locke Bio, PharmD Live, North West TelePharmacy Solutions, One Touch Telehealth, Heyva Health
What Are the Emerging Trends in the Telepharmacy Industry?
Leading businesses in the telepharmacy industry are placing their focus on the creation of progressive services like telehealth platforms to bolster the reach of pharmaceutical care amongst patients. A telehealth platform comprises an integrated digital technology system that allows healthcare services to be rendered remotely using tools such as video calls, instant messaging, and protected data transfer. This platform enables virtual checkups, supervision, diagnosing, and treatment procedures between healthcare professionals and patients, eliminating the necessity for face-to-face visits. To illustrate, Eli Lilly, an American pharmaceutical enterprise, introduced LillyDirect, a telehealth platform focused on marketing specific medications directly to the end-user, in January 2024. This creative method provides patients with prescriptions for conditions like obesity, migraines, and diabetes, avoiding typical healthcare routes and essentially circumventing the customary doctor-pharmacy pathway. The essential features of this include immediate availablity to prescriptions and delivery at home.
What Are the Main Segments in the Telepharmacy Market?
The telepharmacymarket covered in this report is segmented -
1) By Type: Inpatient, Remote Dispensing, Intravenous Admixture, Patient Counselling, Drug Therapy Monitoring, Refill Authorization For Prescription Drugs
2) By Component: Hardware, Software
3) By Delivery Mode: On Premises, Web Based, Cloud Based
4) By Application: Hospitals, Small Pharmacies, Nursing Home, Prisons, Military Base, War Ships
Subsegments:
1) Inpatient: Hospital Telepharmacy, Specialty Pharmacy
2) Remote Dispensing: Automated Dispensing Machines, Remote Patient Monitoring
3) Intravenous Admixture: Total Parenteral Nutrition, Compounded Medications
4) Patient Counselling: Video Consultations, Chat Support
5) Drug Therapy Monitoring: Adherence Monitoring, Side Effect Management
6) Refill Authorization For Prescription Drugs: Automatic Refills, Patient Request Systems
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Which Geographic Area Leads the Telepharmacy Market?
North America was the largest region in the telepharmacy market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telepharmacy market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Telepharmacy Global Market Report?
- Market Size Analysis: Analyze the Telepharmacy Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Telepharmacy Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Telepharmacy Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Telepharmacy Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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