Telepharmacy Market – By Software & Services, By End Use, Growth Forecast, 2024 to 2032

Telepharmacy Market Size

The global telepharmacy market size was valued at USD 9.9 billion in 2023 and is estimated to grow at a CAGR of 10.4% from 2024 to 2032. Telepharmacy is concerned with the provision of pharmaceutical care with the aid of telecommunications technology. It permits a pharmacist to perform a variety of functions such as patient monitoring, counseling, and prescription verification without being physically present for a consultation. Telepharmacy advances the provision of pharmaceutical care to the underserved population groups remotely, while enabling better supervision of the medication.
 

The market is growing rapidly due to the demand for reliable pharmacy services in remote regions, where access to pharmaceutical care is scant. Patients can get their prescriptions, receive the necessary counseling, and even have their medications managed by competent pharmacists through online platforms. The COVID-19 pandemic provided a much-needed jump start to the adoption of telepharmacy because of the need for physicians to provide safe care at a distance.
 

For example, in a comparative group of patients with and without access to telepharmacy services during the pandemic, a study found significantly lower rates of worsening health and steerage towards hospitalization. There is a lot of evidence to suggest that having access to telepharmacy, in particular, can have a positive impact on outpatient care during the pandemic, and afterwards. The pandemic positively influenced the market due to providers seeking to have alternative means of interacting with patients remotely.
 

Also, the global increase in smartphone use facilitates remote pharmacy services access to a larger population, which will enable the market to expand further in the future.


Moreover, secure video conferencing along with other newer technologies and the use of electronic health records will aid in enhancing telepharmacy as they improve patient interaction and operational efficiency.
 

Telepharmacy Market Trends

Enhanced internet connectivity and the increase in the use of mobile phones enable remote consultations, prescriptions, and monitoring of patients. In addition, new software applications enhance the pharmacist-client communication and information security. These improvements in technology optimize pharmacy work processes, broaden their accessibility, and increase patients’ participation. With the improvements in telecommunication and computer software, the market is expected to grow significantly with the advancement in digital healthcare.


Therefore, while telepharmacy has strong merits in the market, other issues such as data and information security, privacy, legal and regulatory issues and licensing frameworks are significant barriers for the widespread use of telepharmacy. These questions need to be solved to make optimal and responsible use of this fast growing market.
 

Telepharmacy Market Analysis

Based on software & services, the global market is segmented into software and services. The software segment dominated the market and is anticipated to grow at 10.7% CAGR over the forecast period. The software segment was further categorized into on-premises and web-based/cloud-based.
 

• The increased demand for effective and reliable systems enabled for remote consultation, prescription, and patient monitoring was the driving force for the software segment.
   
• Advanced telepharmacy software has enabled secure video conferencing and real time presentation of data, such that communication between patients and pharmacists is made easier.
   
• In addition, the rise in spending on healthcare IT along with data privacy regulation also accounts for the segment’s growth.
   
• Furthermore, the increase in the use of digital health systems allows the software sector to develop greater means of improving access, compliance, and patient interaction with the medication process in telepharmacy.
   

Based on the end use in the global telepharmacy market is categorized into hospitals pharmacies, retail pharmacies, and other end users. The hospitals pharmacies segment accounted for the highest market share of 49.2% in 2023.
 

• The rising use of telepharmacy has enabled better management of remote consultations, medication management, and patient counseling which has resulted in an increased dominance of hospital pharmacies.
   
• The fact that some rural and underserved areas of the population can access pharmaceutical services without traveling to the hospital, as well as the ability of the hospital to maintain continuity of care after the patient has been discharged means that telepharmacy easily extends the benefits of pharmaceutical care to the rest of the patients.
   
• Moreover, during the COVID-19 pandemic, the need for telepharmacy increased as hospitals tried to reduce their patients’ face to face interactions without compromising on medication compliance and access.
   
• Such trends indicate how serious hospital pharmacies are in remaining competitive in the telepharmacy business.
   

In 2023, the U.S. held a leading position in the North American telepharmacy market and is projected to maintain this dominance throughout the forecast period, with a CAGR of 10.1%.
 

• The proliferation of the internet in conjunction with the healthcare infrastructure of the U.S. sets the stage for the country to dominate the North American telepharmacy business. The U.S. market is quite strong, due to the extensive use of digital health systems.
   
• In addition, during the COVID-19 pandemic, the country had to further increase telepharmacy services in order to implement remote medication management and reduce face to face visits.
   
• Also, the serious and supportive regulations in addition to efforts to improve rural health care access have helped grow the market within the U.S.
   
• Moreover, growing investment in healthcare IT and the development of telecommunications, the U.S. continues to be on top of the North American telepharmacy development and implementation.
   

China holds the highest share in the Asia Pacific telepharmacy market in 2023.
 

• China has positioned itself as the leader within the Asia Pacific market, owing to its rapidly evolving technology, large population, and the increasing demand for cheap and effective healthcare solutions.
   
• In addition, the market growth in China is also advocated by the government, policies which promote digital health, and the strong infrastructure which is present for the telecommunication technologies.
   
• Moreover, the targeted focus on enhancing healthcare access in rural areas along with high smartphone penetration makes telepharmacy easier to adopt, thus furthering its growth. With the continued investment in healthcare IT and digital health, China is set to retain its leadership in the Asia Pacific market.
   

Germany held a prominent position in the Europe telepharmacy market.
 

• Germany growth in the European market is driven due to the sophisticated healthcare system, enabling regulatory policies, and strong digital health adoption.
   
• The efforts of the German government to increase the provision of telemedicine and other digital healthcare services in rural regions have stimulated growth in the market.
   
• Moreover, Germany’s robust infrastructure for data protection and patient privacy requirements are complementary to the services of telepharmacy and will further enhance its adoption on the market.
   

Brazil accounted for the highest revenue in the Latin American telepharmacy market
 

• Brazil has a high ranking because of the size of its population and developing healthcare facilities, in addition to the growing requirement for remote healthcare service provision.
   
• Brazilian Governments’ policies to increase healthcare access to remote areas have propelled the use of telepharmacy, improving productivity and availability of pharmaceutical care.
   
• Moreover, the growing number of mobile phone subscriptions and the advancement of telecommunications technology will facilitate the broad adoption of telepharmacy platforms. Therefore, these factors put Brazil at the top of the Latin American market, which he believes will expand tremendously.
   

Saudi Arabia is poised to grow at a significant growth rate in the Middle East and African telepharmacy market.
 

• Saudi Arabia growth is driven by its expanding plans the government has committed to rolling out, which aim to diversify the economy and invest in enhancing healthcare access and integrating digital health technologies into the system.
   
• The Vision 2030 initiative focuses on advancing the healthcare sector’s infrastructure. Digital technologies, like televisions, internet, and rural telecommunications devices, are expected to be beneficial for patients in rural regions through the use of telemedicine and telepharmacy.
   
• With investments in healthcare infrastructure and technology, Saudi Arabia is likely to spearhead the adoption of telepharmacy in the region, especially since the blending of high mobile phone penetration and rising internet use makes the utilization of telepharmacy platforms more feasible.
   

Telepharmacy Market Share

The market is characterized by the presence of established healthcare IT companies and small startups all vying for a share in the market. Primary stakeholders often combine their wide-ranging pharmacy networks and advanced technology to bolster telepharmacy services. New entrants tend to concentrate on new ideas that enhance medication adherence and patient motivated interventions.
 

The market is also characterized by rapid advancements in technology which result in a lot of partnerships and joint ventures aimed at service expansion. In addition, ensuring compliance with healthcare industry regulations and security of sensitive information are other important areas of concern in telepharmacy.
 

Telepharmacy Market Companies

Few of the prominent players operating in the telepharmacy industry include:

• AZOVA
• Cardinal Health
• CarepathRx
• CPS Solutions
• Indispensable Health
• Infinipharm
• Medication Review
• OSP
• Outcomes
• PipelineRx
• Right ePharmacy
• Zane Networks
   

USPs of the company

• Direct-to-consumer model offering teleconsultation, medicine delivery, and diagnostics integration
   
• Leveraging AI-driven technology to enhance prescription accuracy and operational efficiency
   
• Expansion of clinical pharmacist services to improve medication safety and reduce operational costs
   

Telepharmacy Industry News

• In August 2021, Bayer, in collaboration with Alpro Pharmacy, BIG Pharmacy, and DOC2US, launched the first telepharmacy focused on empowering women regarding their reproductive health and family planning. This platform offers accessible oral contraceptives and free consultations with pharmacists, enabling informed decision-making. This initiative aimed to enhance women's health and autonomy in managing reproductive choices.
   

The telepharmacy market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:

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Market, By Software & Services

• Software
  • On-premises
  • Web-based/ cloud-based
• Services
  • Remote dispensing
  • Remote patient counseling
  • Remote order-entry review
  • Drug therapy monitoring
  • Other services

Market, By End Use

• Hospitals pharmacies
• Retail pharmacies
• Other end users

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Spain
  • Italy
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea 
• Latin America
  • Brazil
  • Mexico
  • Argentina
• MEA
  • Saudi Arabia
  • South Africa
  • UAE