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Telepharmacy Market Trends

Report ID: GMI12100
Published Date: Nov 2024
Report Format: PDF

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Telepharmacy Market Trends

Enhanced internet connectivity and the proliferation of smartphones facilitate remote consultations, prescription management, and patient monitoring. Furthermore, innovative software solutions improve communication between pharmacists and patients, ensuring secure and efficient interactions. These technological improvements streamline pharmacy operations, increase accessibility, and foster patient engagement. As digital health continues to evolve, the integration of advanced telecommunication and software systems will further propel the market.

Consequently, despite the strong potential in telepharmacy, challenges such as data security, privacy concerns, regulatory frameworks, and licensing requirements hinder broader adoption. Addressing these issues is crucial to ensure safe, ethical practices and prevent limitations to market growth.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The global telepharmacy industry was valued at USD 9.9 billion in 2023 and is estimated to grow at a 10.4% CAGR from 2024 to 2032, driven by the increasing need for remote pharmaceutical care.

The software segment dominated the market in 2023 and is anticipated to grow at a 10.7% CAGR over the forecast period due to the rising demand for robust platforms supporting remote consultations, prescription management, and patient monitoring.

In 2023, the U.S. held a leading position in the North American market and is projected to maintain this dominance throughout the forecast period, with a CAGR of 10.1%, driven by advanced healthcare infrastructure and high adoption of digital health solutions.

Key players in the telepharmacy sector include AZOVA, Cardinal Health, CarepathRx, CPS Solutions, Indispensable Health, Infinipharm, Medication Review, OSP, Outcomes, PipelineRx, and Right ePharmacy.