Global ePharmacy Market- Industry Analysis and Forecast (2019-2027)

Global ePharmacy Market was valued US$ XX Bn in 2019 and is expected to reach US$ 112.50 Bn by 2027, at a CAGR of 14.10 % during a forecast period.

 

Global ePharmacy Market

The report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of the market leader, market followers, and market disrupters in the report, and the same is reflected in our analysis.

ePharmacy store focuses on making the consumer’s life much easier by reducing both time and money. It offers the consumer a variety of medicines against a prescription provided to the customer by a registered medical practitioner. The consumer can also purchase OTC medicines for which prescription is not required.

An increase in internet penetration across the globe, improved healthcare infrastructure, rapid aging of the population, and awareness of eCommerce amongst users are some of the prominent factors behind the global ePharmacy market growth. A shift in consumer behavior with an increased demand for convenience is one of the key factors that are contributing to global market growth. The rise in the prevalence of chronic conditions is increasing the demand for various drugs and healthcare products. Consumers prefer online pharmacies because of their lucrative offers like price discounts, ease in availability of drugs, and home delivery services. Consumers are not required to visit pharmacies to procure medicines. Also, the adoption of information technology in the healthcare sector is empowering clinicians to send prescriptions electronically, which is expected to boost the global e-pharmacy market growth.

On the other hand, the low penetration of innovative healthcare product deployment technology in underdeveloped regions is expected to limit the growth of the global ePharmacy market. Government-imposed stringent laws on the selling of prescription drugs through the medium of online channels, which is expected to hamper the market growth.

E-prescription is the electronic prescribing technology, which allows healthcare professionals to send prescriptions electronically. Doctors prefer e-prescriptions, to permit patients to get easy access to medicine with the help of e-prescriptions. The major benefit of e-prescription is that one can easily upload their e-prescription on the ePharmacy website and order medicine online, without any obstacle. The prescription drugs segment is expected to witness significant growth during the forecast period because of the implementation of e-prescriptions, and the strict regulatory policies about online pharmacies.

North America held the XX% share in 2019 and it is projected to continue its dominance during the forecast period. Dominance is attributed to the complete dependence of the general population on home delivery services like over-the-counter medical products and nutrition supplements, vitamin tablets, cosmetics, and others. An increase in healthcare expenditure and the number of patients opting for home care treatment facilities are also expected to boost the market growth in the region. Many new key players are entering the market as the healthcare sector is offering huge potential to online health retailers because of its increased demand for healthcare products and services.

Some of the startups are bringing in various transformations to introduce different levels of value additions. For instance, online pharmacies require consumers to submit prescriptions online. Additionally, some of the startups are also arranging the prescription physically collected from the customer’s location. Established stores can earn profits by accepting ads or announcing third-party blogs and newsletters. They are selecting to enroll with Google Ad-sense or directly, which can negotiate with the advertisers.

The objective of the report is to present a comprehensive analysis of the Global ePharmacy Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding Global ePharmacy Market dynamics, structure by analyzing the market segments and projects the Global ePharmacy Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global ePharmacy Market make the report investor’s guide.

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Scope of the Global ePharmacy Market

Global ePharmacy Market, By Drug Type

• Prescription Drugs
• Over the counter (OTC) Drugs
Global ePharmacy Market, By Product Type

• Skin Care
• Dental
• Cold and Flu
• Vitamins
• Weight Loss
• Other Product Types
Global ePharmacy Market, By Region

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Key players operating in Global ePharmacy Market

• The Kroger Co.
• Walgreens Boots Alliance, Inc.
• Walmart Stores, Inc.
• PlanetRx
• Express Scripts Holding Company
• Giant Eagle, Inc.
• Optum Rx, Inc.
• PlanetRx
• Rowlands Pharmacy

 

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