Online Pharmacy Market Size, Share, Trends, Growth | 2021

Online Pharmacy Market Size, Share, Trends, Growth 2021

It’s no secret that today it is possible to purchase medication online. More and more medicines are being purchased over the internet in 2021. In comparison with September of the last year, the turnover of online pharmacies selling medicines has grown by 54%, however, the average check practically did not change and amounted to $61. Such data are provided by analysts of the American Journal of Medicine.

Digital pharmacies posed for growth in 2021

According to the data cited by the National Center for Health Statistics (NCHS), from September 1 to September 23, 2021, the demand for medicines has noticeably increased compared to the same period a month earlier. The growth in the turnover of online pharmacies and the number of e-purchases amounted to 17% and 18%, respectively.

Payers increased by 13%, and online pharmacies – by 4%. Compared to September last year, the turnover of online stores selling medicines increased by 54%, and the number of purchases – by 129%.

NCHS believes that the innovations will definitely change the situation in the pharmaceutical market since it will be easier for small pharmacy brands to trade. The requirement for the number of pharmacies has been removed, and it is now possible to sell medicines online. Instead of your own website, you can register a marketplace website in the trade permit – this will allow pharmacies to deliver goods and make payments through aggregators.

“The average monthly growth rate in this segment is 1.2%. Most likely, we can say that new players are already entering the pharmaceutical market and there will only be more of them. To start trading, an entrepreneur only needs to obtain a license and agree with online platforms – this is required time”, – the American Journal of Medicine reported.

The development of the pharmaceutical market and the emergence of new pharmacy brands will provide a wider price choice for medicines for buyers. This is especially true for online shopping where prices can be compared. As a rule, many online pharmacies make generous discount offers, which will allow you to save money.

Daniel Bronson, Canadian Pharmacy Managing Director, is confident that the growth of online pharmacies will continue to increase. At the same time, the appearance of new drugstores will not affect the digital pharmaceutical market in any way. In the future, the online sale of OTC drugs will be more convenient for the consumer, the level of distance selling service will grow.

Rodney Warner, NCHS Director, notes that Americans have become more active in buying drugs online in 2021. According to their data, in the period September 1-14, 2021, sales of drugs and dietary supplements on US marketplaces increased by 42% compared to the beginning of August 2021.

Mr. Warner emphasizes that now online pharmacies are the fastest growing digital business. In general, according to him, drug sales on the Internet in 2021 increased by 13%, and the average order receipt for drugs increased by 7%. He added that the expansion of online sales will contribute to the continued growth of the online pharmacy segment. Growth factors include a wide range of products and fast delivery combined with favorable prices.”At the same time, significant growth in the online pharmacy segment will be possible after the legalization of online sales of prescription drugs. This will allow customers to purchase everything they need in one place, without splitting the purchase between offline and online – most prescriptions contain drugs of both types,” he says.

Linda Song, a Flatiron Health analyst, notes that gradually all department stores and grocery stores will sell drugs. Therefore, their number will grow. The turnover will also grow. Prices will decline until the business model itself loses its attractiveness for the majority of players, except for the largest ones. “The drug trade may just become part of the overall e-commerce business, but in the event of consumer health incidents, regulation could be reinforced again,” she suggests.