Prescription Delivery Services Market

The global Prescription Delivery Services Market is valued at USD 165.4 Million in 2024 and is projected to reach a value of USD 308 Million by 2035 at a CAGR (Compound Annual Growth Rate) of 5.85% between 2025 and 2035.

Premium Insights

The rise of e-commerce platforms has had a significant impact on the prescription delivery services market. In 2022, over 2.3 billion people were expected to buy goods and services online. As of January 2023, the world population comprises around 8 billion people. That means at least 28% of the worldwide population shop online to fulfill their needs. The US, one of the biggest eCommerce markets, reached around 268 million digital buyers in 2022. This number is expected to reach nearly 285 million by 2025. Thus, the growing usage of e-commerce platform is expected to boost the market growth in coming years.

The behaviour and future willingness to use eCommerce and eServices has been influenced by the COVID-19 impact. According to the World Health Organization (WHO) and World meters, severe waves of COVID-19 hit 220 countries, territories, and international conveyances, resulting in 650,126,812 confirmed infected people and 6,646,993 death cases. The impact of this wave on the global ecosystem has led to changes in how we interact and deal with each other. The importance of using contactless healthcare services was illustrated by this. As patients sought to reduce the burden of hospital overcrowding, prescription drug delivery services saw a surge in demand throughout the pandemic.

Key Highlights

• North America accounted largest growth with revenue share of 49.5% in 2022
• Asia Pacific is expected to dominate the market during the forecast period
• On the basis of Disease Indication, Prescription Drugs segment accounted the largest market growth and contributed more than 45.4% of the total revenue share in 2022
• Based on Distribution Channel, the Pharmacy Stores segment revealed the most significant market growth and contributed more than 41.9% of the total revenue share in 2022

Economic Insights

The COVID-19 pandemic has further accelerated the growth of this market. Lockdowns and social distancing measures have made it challenging for patients to visit pharmacies in person. As a result, more people have turned to prescription delivery services to get their medications safely and conveniently. Economic changes also play a role in shaping the prescription delivery services market. In times of economic downturn, consumers may look for cost-effective options to manage their healthcare expenses. Prescription delivery services often offer competitive prices, discounts, and free shipping, making them an attractive alternative to traditional pharmacies.

Top Market Trends

1. Increasing demand for home delivery services: One of the primary market trends driving the growth of the prescription delivery services market is the increasing demand for home delivery services. Patients prefer to receive their medications at their doorstep instead of visiting pharmacies, especially during the pandemic. This trend is expected to continue, resulting in significant growth in the prescription delivery services market.
2. Increased investments in prescription delivery services: With increasing demand, technological advancements, and growth potential, the prescription delivery services market is attracting more investments. This leads to the development of new delivery models, the expansion of existing services, and the introduction of innovative solutions to meet the evolving needs of patients and healthcare providers.
3. Rising adoption of e-prescriptions: Electronic or e-prescriptions are becoming increasingly popular as doctors and patients leverage the convenience and efficiency of digital prescriptions. Prescription delivery services must adopt e-prescription technology to keep up with the changing healthcare landscape, where digitalization and patient-centric care are becoming the norm.

Market Segmentation

The global Prescription Delivery Services market can be categorized as Disease Indication, Distribution Channel, and Region. The market can be categorized into Prescription Drugs, Wellness supplements, Diagnostics Kits, and OTC Drugs based on Disease Indication. By Distribution Channel, the market can be split between Pharmacy Stores, Healthcare Institutions, Clinics, Research Institutes, and Online Pharmacy Platforms. Likewise, based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Based on Disease Indication

Prescription Drugs to Lead Maximum Market Share Due to the Availability of Online Platforms and Mobile Apps

In 2022, prescription drugs dominated the market. The availability of online platforms and mobile apps has made it easier for patients to order their medications and access prescription delivery services. This has also made it easier for healthcare providers to send prescriptions directly to the delivery services, further increasing the convenience and accessibility of these services.

Based on Distribution Channel

Pharmacy Stores to Express Dominion Owing to the Increased Defense Spending to Modernize Their Military Equipment

The pharmacy stores segment accounted for the maximum growth of the market in 2022. The digitalization of the healthcare industry and the rise of e-commerce have paved the way for pharmacy stores to expand their services beyond brick-and-mortar locations and offer prescription delivery services. The elderly tend to rely more on prescription medications and may have difficulty traveling to a physical pharmacy. Prescription delivery services provide a convenient option for them to receive their medications without leaving their home.

Based on Region

North America to Dominate Global Sales Owing to the Increasing Demand for Prescription Delivery Services Among Patients

The Prescription Delivery Services Market in North America has witnessed significant growth over the past few years, and the trend is expected to continue in the coming years. One of the most important factors contributing to this growth is the increasing demand for prescription delivery services among patients. The growing elderly population in North America is one of the key drivers of this growth. The elderly population is more likely to require prescription medication for chronic conditions such as diabetes, heart disease, and arthritis. Prescription delivery services have been gaining popularity among this population as they provide them with convenient access to prescription medication without leaving their homes.

The Prescription Delivery Services Market in Asia Pacific has been growing significantly due to factors such as the rising aging population, increasing number of chronic diseases, and growing demand for home healthcare services. The market has been witnessing an upward trend in recent years and is expected to grow significantly during the forecast period. The growing aging population is one of the major factors driving the growth of the Prescription Delivery Services Market in Asia Pacific. According to the United Nations, the number of people aged 65 and above is expected to reach 711 million in the Asia Pacific region by 2050, accounting for 20% of the total population. An aging population is more likely to suffer from chronic diseases and mobility issues, which creates a demand for home healthcare services, including prescription delivery services.

Competitive Landscape

Leading players in the prescription delivery services market play a vital role in driving the industrys growth. These players provide efficient and reliable delivery services and help boost the overall awareness of the importance of prescription delivery services. They constantly strive to improve their services by adopting new technologies and innovative strategies.

The key players in the global Prescription Delivery Services market include - Wal-Mart Stores Inc. (U.S.) among others.

Recent Market Developments

• April 2023: Giant Eagle, Inc. and Allivet.com have partnered to further expand Allivet.coms PetRx platform in the retail space and offer a convenient online solution to Giant Eagle Pharmacy guests.
• December 2022: Walgreens launched 24-Hour same day delivery, offering the most retail items for around the clock delivery across the country.
• September 2022: Walmart Inc. and UnitedHealth Group announced the beginning of an initial 10-year, wide-ranging collaboration, bringing together the collective expertise of both companies in serving millions of people with high-quality, affordable health services that improve health outcomes and improve the patient experience.

Segmentation of the Global Prescription Delivery Services Market