Global Telepharmacy Market, By Type (Inpatient, Remote Dispensing, IV Admixture, Remote Counselling), Component (Hardware, Software), Delivery Mode (On Premises, Web Based, Cloud Based), Devices (Computers, Smartphones, Tablets, Kiosk), Application (Hospitals, Small Pharmacies, Nursing Home, Prisons, Military Base, War Ships), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E, Egypt, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights : Global Telepharmacy Market
Telepharmacy market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses the market to account to USD 123.57 million by 2028 growing at a CAGR of 6.19% in the above-mentioned forecast period. The growing awareness among the patients regarding the benefits of telepharmacy which will create lucrative opportunities for the growth of the market.
Telepharmacy involves the delivery of pharmaceutical treatment and the verification of prescription orders via remote telecommunications. Using telepharmacy, pharmacists may provide patients with prescription treatment in a geographical location different from theirs. This state-of-the-art technology, especially in rural and medically backward countries ensures convenient access to quality health care.
The growing access to quality health care service in medically backward and rural areas, rising number of internet penetration coupled with rising internet users, surging volume of patients suffering from infectious diseases such as Covid19, and others, increasing preferences towards online health services to limit exposure and risk of infection are some of the major as well as important factors which will likely to accelerate the growth of the telepharmacy market in the projected timeframe of 2021-2028. On the other hand, unavailability of pharmacists in hospitals, rural area hospitals that cannot afford pharmacists, prevalence of insufficiently skilled pharmacist along with prevalence of favourable government initiatives to support telemedicine and increasing healthcare expenditure which will further contribute by generating immense opportunities that will led to the growth of the telepharmacy market in the above mentioned projected timeframe.
Operational and technical issues associated with host IT system and integration along with lack of overall management in dispensing medications for the patients which will likely to act as market restraints factor for the growth of the telepharmacy in the above mentioned projected timeframe.
This telepharmacy market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on telepharmacy market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Telepharmacy Market Scope and Market Size
Telepharmacy market is segmented on the basis of type, component, delivery mode, devices, and application. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- Based on type, the telepharmacy market is segmented into inpatient, remote dispensing, IV admixture, and remote counselling.
- On the basis of component, the telepharmacy market is segmented into hardware, and software. Hardware has been further segmented into monitors, and peripheral medical device. Software has been further segmented into integrated software, and standalone software.
- Based on delivery mode, the telepharmacy market is segmented into on premises, web based, and cloud based.
- On the basis of devices, the telepharmacy market is segmented into computers, smartphones, tablets, and kiosk.
- Telepharmacy market has also been segmented based on the application into hospitals, small pharmacies, nursing home, prisons, military base, and war ships.
Telepharmacy Market Country Level Analysis
Telepharmacy market is analysed and market size insights and trends are provided by country, type, component, delivery mode, devices, and application as referenced above.
The countries covered in the telepharmacy market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the telepharmacy market due to the prevalence of favourable reimbursement policies, increasing disposable income and technologically advanced infrastructure along with rising internet penetration in the region, while Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2021 to 2028 due to the increasing awareness among patients and favourable government initiatives.
The country section of the telepharmacy market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
Telepharmacy market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment’s, installed base of different kind of products for telepharmacy market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the telepharmacy market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Telepharmacy Market Share Analysis
Telepharmacy market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to telepharmacy market.
The major players covered in the telepharmacy market report are TelePharm, LLC.; Medication Review; PipelineRx; NORTH WEST COMPANY; MCKESSON VENTURES; AMN Healthcare; by One Touch Video Chat.; Comprehensive Pharmacy Services.; MedTel Services; Cisco; Cerner Corporation.; Plantronics, Inc.; Koninklijke Philips N.V.; Medly Pharmacy; Aspen RxHealth; Cardinal Health; alliantRx.; AZOVA.; Medtronic; among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
SKU-