Telepharmacy market projected to reach $23.6 billion by 2032 with 10.4% CAGR growth
From GlobeNewswire: 2024-12-16 07:30:00
The telepharmacy market was valued at USD 9.9 billion in 2023, with a projected 10.4% CAGR from 2024 to 2032. Telepharmacy utilizes technology to provide remote pharmaceutical services, improving healthcare access and medication management. The market growth is driven by demand for accessible healthcare solutions, accelerated by the COVID-19 pandemic.
Telepharmacy offers services like medication counseling and patient monitoring remotely, eliminating the need for in-person pharmacy visits. The market is divided into software and services, with the software segment leading in 2023 and expected to grow at a 10.7% CAGR. Telepharmacy software enhances medication adherence and patient engagement.
Hospital pharmacies dominated the telepharmacy market in 2023, using telepharmacy for remote consultations and patient support. North America leads in telepharmacy market growth, driven by investments in healthcare infrastructure and digital health solutions. Telepharmacy is crucial for modern healthcare delivery, especially in rural areas.
Major players in the telepharmacy market include AZOVA, Cardinal Health, and PipelineRx. The industry’s growth drivers include increased demand for remote healthcare, supportive regulations, and technology advancements. Challenges include limited patient awareness and data security concerns. Telepharmacy is a key component of modern healthcare delivery, offering convenient and accessible pharmaceutical services.
Read more at GlobeNewswire: Telepharmacy Market to hit USD 23.6 billion by 2032, says