Geriatric Population is Propelling the North American Online Pharmacy Market

The North American online pharmacy market is anticipated to grow at a CAGR of 15.4% during the forecast period (2024-2031). The market growth is driven by the high adoption of e-commerce, an increase in online orders, and growth in the elderly population. Additionally, the presence of well-established players and an increase in pharmaceutical needs, especially by baby boomers is contributing to the growth of the online pharmacy market in the region. Increasing digitization is further providing opportunities for market growth. However, the rising threat of illegal online pharmacies is restraining the market growth during the forecast period. The North American online pharmacy market is segmented by medicine type (OTC medicines and prescription medicines).

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The US is expected to dominate the market during the forecast period, owing to the widespread adoption of online pharmacies in the country. Additionally, Canada is expected to record rapid growth attributed to the increasing penetration of the internet in the economy.   

The key players in the North American online pharmacy market are contributing significantly to the market growth by providing different types of products and increasing their geographical presence.  The key players in the market include Walgreens Boots Alliance, Inc., UnitedHealth Group (Optum), Walmart Inc., Rite Aid Corp., and Albertsons Companies, Inc., among others.   

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Recent Developments

• In November 2024, the US Food and Drug Administration (FDA) issued warning letters to Rogue online pharmacies, for being engaged in illegal activity and violating the US Federal Food, Drug, and Cosmetic Act. The company was alleged of offering potentially dangerous prescription drugs to US consumers.
• In January 2024, CarelonRx launched CarelonRx Pharmacy, a digital pharmacy. The platform enables users to engage with pharmacists via text, chat, or phone 24/7, compare the costs of medications, and easily track the status of medications throughout the order process. The platform additionally provides features for push notifications with proactive status updates. 
• In January 2024, Eli Lilly launched a new website- LillyDirect to allow patients to get weight loss drug prescriptions through a telehealth provider. The website will offer various weight loss drugs including the recently approved drug, Zepbound.  

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