Mail Order Pharmacy Market Opportunities and Strategies to 2034

This report describes and explains the mail order pharmacy market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global mail order pharmacy market reached a value of nearly $109.44 billion in 2024, having grown at a compound annual growth rate (CAGR) of 19.67% since 2019. The market is expected to grow from $109.44 billion in 2024 to $252.76 billion in 2029 at a rate of 18.22%. The market is then expected to grow at a CAGR of 16.82% from 2029 and reach $550.0 billion in 2034.

Growth in the historic period resulted from the increasing telemedicine, rising demand for home healthcare, favorable government support and growing demand for online pharmacies. Factors that negatively affected growth in the historic period was regulatory challenges.

Going forward, the rising prevalence of chronic diseases, growing aging population, expansion of healthcare expenditure and increasing urbanization will drive the growth. Factor that could hinder the growth of the mail order pharmacy market in the future include economic fluctuations.

The global mail order pharmacy market is fairly fragmented, with a large number of players operating in the market. The top ten competitors in the market made up 21.36% of the total market in 2023. CVS Health Corporation was the largest competitor with a 5.26% share of the market, followed by Wal-Mart Stores Inc. (Walmart Pharmacy) with 4.17%, Kroger Health with 3.55%, Cardinal Health Inc.with 2.25%, Humana Pharmacy Solutions Inc.with 1.35%, UnitedHealth Group (OptumRx) with 1.25%, MedImpact Healthcare Systems Inc. with 1.23%, McKesson Corporation with 1.20%, Amazon Pharmacy with 0.75% and DocMorris (formerly Zur Rose Group) with 0.35%.

The mail order pharmacy market is segmented by product type into dermal care, diabetes, cardiovascular medicines, blood pressure, asthma, cold and flu, painkillers and other products. The diabetes market was the largest segment of the mail order pharmacy market segmented by product type, accounting for 26.29% or $28.77 billion of the total in 2024. Going forward, the diabetes segment is expected to be the fastest growing segment in the mail order pharmacy market segmented by product type, at a CAGR of 22.31% during 2024-2029.

The mail order pharmacy market is segmented by drug type into non-prescription drugs and prescription drugs. The prescription drugs market was the largest segment of the mail order pharmacy market segmented by drug type, accounting for 75.01% or $82.09 billion of the total in 2024. Going forward, the prescription drugs segment is expected to be the fastest growing segment in the mail order pharmacy market segmented by drug type, at a CAGR of 18.31% during 2024-2029.

The mail order pharmacy market is segmented by mode of order into online store and pharmacy app. The online store market was the largest segment of the mail order pharmacy market segmented by mode of order, accounting for 59.40% or $65.01 billion of the total in 2024. Going forward, the pharmacy app segment is expected to be the fastest growing segment in the mail order pharmacy market segmented by mode of order, at a CAGR of 19.00% during 2024-2029.

North America was the largest region in the mail order pharmacy market, accounting for 34.54% or $37.8 billion of the total in 2024. It was followed by Asia Pacific, Western Europe and then the other regions. Going forward, the fastest-growing regions in the mail order pharmacy market will be Asia Pacific and South America where growth will be at CAGRs of 21.16% and 20.45% respectively. These will be followed by Middle East and Eastern Europe where the markets are expected to grow at CAGRs of 19.89% and 18.37% respectively.

The top opportunities in the mail order pharmacy market segmented by product type will arise in the diabetes segment, which will gain $49.98 billion of global annual sales by 2029. The top opportunities in the mail order pharmacy market segmented by drug type will arise in the prescription drugs segment, which will gain $108.21 billion of global annual sales by 2029. The top opportunities in the mail order pharmacy market segmented by mode of order will arise in the online store segment, which will gain $81.7 billion of global annual sales by 2029. The mail order pharmacy market size will gain the most in the USA at $36.35 billion.

Market-trend-based strategies for the mail order pharmacy market include focus on advanced technologies such as telehealth to enhance service delivery, improve patient access to healthcare, and streamline the prescription process, focus on real-time order tracking to enhance operational efficiency, improve customer satisfaction, and ensure timely delivery of prescriptions, focus on adopting strategic partnerships approach to develop advanced mail ordering solutions and focus on innovative online pharmacy apps to enhance customer experience, streamline the ordering process and improve medication adherence through reminders.

Player-adopted strategies in the mail order pharmacy market include focus on strengthening business operations through strategic investments, focus on strategic partnerships to expand and distribute product in a competitive market, focus on strategic partnerships to launch modern payment solutions to track sales and payment transactions.

To take advantage of the opportunities, the analyst recommends the mail order pharmacy companies to focus on integrating telehealth for enhanced service delivery, focus on implementing real-time order tracking to improve efficiency, focus on developing innovative online pharmacy apps for enhanced customer experience, focus on the diabetes market for growth, focus on the prescription drugs market for growth, focus on the pharmacy apps market for growth, expand in emerging markets, focus on strategic partnerships to drive innovation and growth, provide competitively priced offerings, continue to use B2B promotions and focus on tailoring services to consumer needs and preferences.

Major Market Trends

• Revolutionizing Healthcare Access With Telehealth-Enabled Mail Order Pharmacy Services
• Advancing Pharmacy Delivery With Real-Time Tracking and Same-Day Service
• Transforming Prescription Delivery With Innovative Strategic Partnerships
• The Impact of Virtual Pharmacy Services on Medication Adherence and Delivery

Key Mergers and Acquisitions

• Elevance Health Acquires Kroger Specialty Pharmacy to Enhance Specialty Services
• Zeno Health Acquires Tablt Pharmacy to Expand Digital Healthcare Services
• Letsgetchecked Strengthens Healthcare Portfolio With Truepill Acquisition
• Tractor Supply Strengthens Pet Care Offerings Through Allivet Acquisition
• Prime Therapeutics Bolsters Pharmacy Benefits With Magellan Rx Acquisition