Mail Service Pharmacy Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2025
Mail service pharmacy is swiftly becoming a highly used channel of distribution of pharmaceutical products to the consumers. Some of the leading players in the global mail service pharmacy market are propelling their services ahead of the game through high level quality improvements, addition of benefits and loyalty services, greater accountability, patient care, and consumer protection. The emergence of mail service pharmacy accreditation organizations is further pushing players in this market to improve their service provision quality in order to stay afloat in this quickly intensifying competitive landscape.
Several players offer added benefits and subscription value additions, such as improve savings on prescription co-pays, on-call or online pharmaceutical advice, extended delivery quantities as allowed by the prescription, low cost or free shipping, and added services that help patients keep track of their prescription times and remainder quantities. The current ecommerce boom is also serving the global mail service pharmacy market very well, as players are offering online prescription based pharmaceutical services, with added online services and benefits such as being able to update and manage insurance data.
Players in the global mail service pharmacy market are also ramping up their privacy policies due to the increasing scope of ecommerce in the market and the resulting usage of Internet websites for the conduction of business. At the same time, online platforms have made it much easier for players in the global mail service pharmacy market to get their customers started and help them maintain a better pharmaceutical profile with prompt advice and delivery times.
The global mail service pharmacy market involves services related to the delivery of medication primarily through mail. It covers managed care programs that include healthcare maintenance organization and preferred provider organization. Mail service pharmacies can help save prescription co-payments, allow access to expert pharmacist advice, offer potential cost saving loyalty schemes, and reduce the risk of a patient missing their dose through methods such as medical subscriptions or reminders for purchase.
Customers can order medication by phone, mail or through the company’s secure website. Mail service pharmacies save money that otherwise is owed in the form of co-payments for medication. Additionally, customers can benefit significantly through these services rather than face shortage of medicines in local pharmacies. Many companies provides exclusive home delivery services through express scripts mail services that will ultimately save time and eliminate extra payments.
The global mail service pharmacy market is witnessing a very positive rate growth, owing to the solid presence of various multinational mail service pharmacies across all key regions. These companies provide 24x7 services and benefits to their customers, improved consistently through online surveys, consumer feedback, and other suggestions. This would ultimately increase the number mail service pharmacy users, thereby stimulating the market’s growth. Another key factor influencing the growth of the global mail service pharmacy market is an increasing demand of fast and effective services within medical industries on a global scale. Mail service pharmacies offer a better level of service than conventional mailing systems due to a stronger distribution network.
Many key players provide custom services as well, such as OptumRx, Inc. with their OptumRx mail service pharmacy, a system known to save time and money. In addition, mail services today use computerized quality control systems supervised by licensed pharmacists, thereby helping to avoid harmful drug interactions and accuracy in prescription delivery. PBM Plus, Inc.’s mail service pharmacy offers an accurate and easy prescription-filling system along with the convenience of home delivery. These services offered by key players will attract more number of customers to the global mail service pharmacy market over conventional pharmaceutical sales. However, the overall lack of knowledge about mail pharmacy services in developed countries will restrain the market growth to the some extent.
Geographically, North America dominated the global mail pharmacy services market in 2016, due to an increase in the need for healthcare and biotech samples and equipment. Europe is considered second in terms of size of share in the global mail service pharmacy market, and its growth is mainly attributed to the quick and effective courier services provided by key players in the region. Asia Pacific nations such as India and China are the emerging locations in the global mail services pharmacy market, due to an increasing use of mail pharmacy services by medical facilities and other customers.
Various key players in the global mail service pharmacy market so far, have been Justia, Walgreen Co., OptumRx, Inc., Blue Shield of California, PBM Plus, Inc., Fairview Health Services, United HealthCare Services, Inc., WellCare, Inc., Blue Cross and Blue Shield of Massachusetts, Inc., Walgreen Co., Caremark, L.L.C., Blue Cross And Blue Shield Association, and Wal-Mart Stores, Inc.
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The vast market research data included in the study is the result of extensive primary and secondary research activities. Surveys, personal interviews, and inputs from industry experts form the crux of primary research activities and data collected from trade journals, industry databases, and reputable paid sources form the basis of secondary research. The report also includes a detailed qualitative and quantitative analysis of the market, with the help of information collected from market participants operating across key sectors of the market value chain. A separate analysis of macro- and micro-economic aspects, regulations, and trends influencing the overall development of the market is also included in the report.
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Note: Immense care has been taken to present data with the highest levels of accuracy in all TMRResearch reports. Nevertheless, recent developments related to market/vendor landscape may take time to reflect in the analysis.
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