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Prominent Telepharmacy Market Trend for 2025: Telepharmacy Innovations Focusing On Telehealth Platforms Platforms For Enhanced Productive Health
Telepharmacy
Anticipated growth in the telepharmacy market is largely due to the growing necessity for chronic disease management. This management concept encompasses the ongoing care, supervision, and support for those suffering from lasting health conditions like diabetes, heart disease, hypertension, asthma, and arthritis. With chronic conditions becoming more prevalent and a rising need for individualized, long-term care to enhance patient results, the demand for disease management is increasing. Telepharmacy addresses this need by offering remote medication consultations and supervision, thus boosting patient compliance and access to healthcare services. For example, a study issued in August 2022 by the US-based nonprofit medical association, American College of Cardiology, predicted a rising trend in the four leading cardiovascular risk factors from 2025 to 2060 within the United States. Diabetes is predicted to show the highest percentage increase, with a jump of 39.3% to 55 million individuals. It will be closely followed by dyslipidemia (increasing by 27.6% to 126 million), hypertension (rising by 25.1% to 162 million), and obesity (escalating by 18.3% to 126 million). Consequently, the telepharmacy market's growth can be directly linked to the high demand for chronic disease management.
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What is the future CAGR of the telepharmacy market, and how will it impact industry expansion?
The telepharmacy market has experienced fast-paced growth over the past few years, with expectations for it to expand from a size of $12.23 billion in 2024 to $14.27 billion in 2025. This increase equates to a compound annual growth rate (CAGR) of 16.6%. This impressive growth during the historical period is largely linked to efforts to reduce healthcare disparities, initiatives enacted by government and health insurance providers, a heightened emphasis on preventive care, a surge in demand for remote healthcare services, and improved access to healthcare for rural communities.
The telepharmacy market is projected to experience swift expansion in the upcoming years, with a prediction to rise to $26.18 billion by 2029, boasting a compound annual growth rate (CAGR) of 16.4%. The anticipated surge during the forecast timeline can be associated with an uptick in virtual care alliances, a surge in the utilization of cloud-based solutions, improved management of chronic diseases, a rising demand for integrated care systems, and the expansion of at-home healthcare services. Noteworthy trends predicted for the forecast period encompass the technological merging with wearable devices, the evolution of mobile health (mHealth) applications, forward strides in telecommunication technologies, progress in telehealth technologies and amalgamation with electronic health records (EHRs).
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What are the most significant trends transforming the telepharmacy market today?
Prominent firms within the telepharmacy market are concentrating their efforts towards the creation of innovative solutions, such as telehealth platforms, with an aim to improve patient's accessibility to pharmaceutical care. A telehealth platform functions as a digital tool that allows healthcare services to be delivered remotely via communication technologies including video conferencing, messaging, and secure data sharing. It enables healthcare providers and their patients to carry out virtual consultations, monitoring, diagnoses, and treatment without having to physically meet. For example, in January 2024, LillyDirect, a telehealth platform, was launched by the American pharmaceutical company, Eli Lilly. The platform aims to sell certain drugs directly to consumers, representing a novel method that enables patients to receive prescriptions for conditions such as obesity, migraines, and diabetes, without having to follow the conventional healthcare processes. This effectively eliminates the standard route from doctor to pharmacy. Among its main features are the ease of access to prescriptions and the option for home delivery.
Which key market segments comprise the telepharmacy market and drive its revenue growth?
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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What regions are leading the charge in 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.
Who are the leading players fueling growth in the telepharmacy market?
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
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What Is Covered In The Telepharmacy Global Market Report?
•Market Size Forecast: Examine the telepharmacy market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the telepharmacy market for a structured understanding.
•Key Players Overview: Analyze major players in the telepharmacy market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the telepharmacy market.
•Segment Contributions: Evaluate how different segments drive overall growth in the telepharmacy market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the telepharmacy market.
•Industry Challenges: Identify potential risks and obstacles affecting the telepharmacy market.
•Competitive Landscape: Review strategic developments in the telepharmacy market, including expansions, agreements, and new product launches.
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