Updated 2025 Market Reports Released: Trends, Forecasts to 2034 – Early Purchase Your Competitive Edge Today!

What is the Predicted Annual Growth Rate of the Telepharmacy Market Over the Coming Decade?

There has been a speedy expansion in recent years in the telepharmacy market size. Predictions show an increase from $12.23 billion in 2024 to $14.27 billion in 2025, indicating a compound annual growth rate (CAGR) of 16.6%. The significant progress observed in the previous period is a result of concentrated efforts to diminish healthcare disparities, initiatives from government and health insurance, a heightened focus on preventative care, rising demand for remote healthcare services, and enhanced accessibility to healthcare in rural areas.

The market size of telepharmacy is predicted to experience a substantial surge in the coming years, with an anticipated value of $26.18 billion by 2029, fueled by a compound annual growth rate (CAGR) of 16.4%. This growth expected within the forecast period can be traced back to a rise in virtual care alliances, increasing implementation of solutions based on cloud technology, advanced management of chronic illnesses, augmented demand for integrated care models, and expansion of home healthcare services. Essential trends for the prediction interval comprise the technological commingling with wearable devices, construction of mobile health (mHealth) applications, progressive telecommunication technologies, improvements in telehealth technologies, and amalgamation with electronic health records (EHRs).

Which Drivers Are Expected to Have the Greatest Impact on the Telepharmacy Market’s Growth?

The surge in the necessity for managing chronic diseases is anticipated to catalyze the expansion of the telepharmacy market in the future. Chronic disease management pertains to the sustained efforts towards treating, observing, and assisting individuals afflicted by persistent health conditions like diabetes, heart disorders, hypertension, asthma, and arthritis. The heightened requirements for this type of medical care management stems from the increased incidents of persistent health issues and the escalating need for customized, long-term healthcare to enhance patient recovery prospects. Telepharmacy bolsters the management of chronic diseases by offering distant drug counseling and supervision, thereby fostering patient compliance and convenience of care. For example, in August 2022, a study conducted by the American College of Cardiology, a US-based non-profit constituent of the medical fraternity, projected that in the US, all four primary cardiovascular risk elements are set to see an upward spike from 2025 to 2060. Diabetes is predicted to witness the most considerable proportional surge, with an increment of 39.3% to 55 million individuals, followed by dyslipidemia (rising by 27.6% to 126 million), hypertension (increasing by 25.1% to 162 million), and obesity (surging by 18.3% to 126 million). Hence, the intensified demand for managing chronic diseases is fueling the progress of the telepharmacy market.

Get Your Free Sample of the Global Telepharmacy Market Report Now!

https://www.thebusinessresearchcompany.com/sample.aspx?id=19727&type=smp

What Are the Major Players Making an Impact in the Telepharmacy Market’s Growth?

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

Which Upcoming Trends Are Set to Influence the Telepharmacy Market’s Path Forward?

Leading corporations in the telepharmacy industry are prioritizing the creation of novel products, like telehealth platforms, in an effort to improve patient accessibility to pharmaceutical care. A telehealth platform comprises a cutting-edge technological solution that allows remote provision of healthcare services via communication methods such as video calls, messaging, and reliable information sharing. This platform enables virtual consultation, surveillance, diagnosis, and treatment between the patient and healthcare providers, eliminating the necessity for face-to-face meetings. Notably, in January 2024, Eli Lilly, a pharmaceutical firm based in the U.S, introduced LillyDirect, a telehealth platform designed to provide specific medications directly to customers. This inventive strategy lets patients receive prescriptions for conditions like obesity, migraines, and diabetes, bypassing the conventional healthcare procedures, effectively avoiding the standard doctor-pharmacy route. Noteworthy features of this platform include unmediated access to prescriptions and home delivery service.

Get Instant Access to the Global Telepharmacy Market Report with Swift Delivery!

https://www.thebusinessresearchcompany.com/report/telepharmacy-global-market-report

Which Key Segments Define the Structure of the Telepharmacy Market and Their Growth Potential?

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

What Regions Are Steering Growth in the Telepharmacy Sector?

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.

How Can We Define the Telepharmacy Market and Its Key Components?

Telepharmacy is the provision of pharmaceutical care through telecommunication technology, allowing pharmacists to offer consultations, medication management, and prescription services remotely. It enhances accessibility to pharmacy services, especially in underserved or rural areas. This approach improves patient care by providing timely support and medication counseling.

Browse Through More Similar Reports By The Business Research Company:

Pharmacy Benefit Management Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/pharmacy-benefit-management-global-market-report

Telemedicine Services Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/telemedicine-services-global-market-report

E-Pharmacy Global Market Report 2024

https://www.thebusinessresearchcompany.com/report/e-pharmacy-global-market-report

About The Business Research Company:

With over 15000+ reports from 27 industries covering 60+ geographies, The Business Research Company has built a reputation for offering comprehensive, data-rich research and insights. Armed with 1,500,000 datasets, the optimistic contribution of in-depth secondary research, and unique insights from industry leaders, you can get the information you need to stay ahead in the game.

Contact us at:

The Business Research Company: https://www.thebusinessresearchcompany.com/

Americas +1 3156230293

Asia +44 2071930708

Europe +44 2071930708

Email us at [email protected]

Follow us on:

LinkedIn: https://in.linkedin.com/company/the-business-research-company

YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model

Found this article helpful? Share it on: