Global e-pharmacy market expected to generate around USD 107.53 billion by 2025, at a CAGR of around 14.26% between 2019 and 2025. Growing applications of e-prescriptions have reduced access to pharmacy, which is contributing to the growth of the global e-pharmacy market.
The report covers a forecast and an analysis of the e-pharmacy market on a global and regional level. The study provides historical data from 2016 to 2018 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes the drivers and restraints of the e-pharmacy market along with their impact on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the e-pharmacy market on global and regional levels.
In order to give the users of this report a comprehensive view of the e-pharmacy market, we have included a competitive landscape and an analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein all the segments are benchmarked based on their market size, growth rate, and general attractiveness.
The report provides company market share analysis to give a broader overview of the key players in the e-pharmacy market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new product launch, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the e-pharmacy market on a global and regional basis.
The study provides a decisive view of the e-pharmacy market by segmenting it based on drug type and region. The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa with its further classification into major countries including the U.S., Germany, France, UK, China, Japan, India, and Brazil.
Some key players of the global e-pharmacy market include The Kroger Co., The Walgreen Company, Express Scripts Holding, CVS Health, Doc Morris, Giant Eagle, Wal-Mart Stores, OptumRx, 1mg, and Netmeds.
This report segments the global e-pharmacy market into:
Global E-Pharmacy Market: By Drug Type
Global E-Pharmacy Market: By Region
E-pharmacy, also known as an online pharmacy, internet pharmacy, or mail-order pharmacy, is an online service that is available via the use of the internet and serves customers by sending them online prescriptions to allow patients to get access to online medicines. It operates online and delivers products to the customers through various shipping channels. It delivers all types of pharmaceutical drugs, such as over the counter (OTC) drugs and prescription drugs. Doctors prefer e-pharmacies by providing their patient's e-prescriptions to give them easy access to medicines to avoid any kind of hassles. National Health Service (NHS) hospitals in England are planning to go paperless by the year 2020.
Growing applications of e-prescriptions have reduced access to pharmacy, which is contributing to the growth of the global e-pharmacy market. Increasing penetration of internet worldwide, growing investments made by private companies, and the rising number of steps taken by government bodies are some major factors propelling the global e-pharmacy market development. Moreover, the rising burden of diseases, enhanced healthcare infrastructure, augmented demand for more healthcare facilities, escalating adoption IT in the healthcare sector are anticipated to further propel the growth of the e-pharmacy market. Customers prefer online services mainly due to different offers and discounts available online alongside home delivery and easy availability of products. However, increasing practice of illegal online pharmacy, strict regulatory policies imposed by governments of various countries for improved quality of drugs and the increasing use of e-prescriptions and prescription drugs may hamper the e-pharmacy market growth globally over the forecast time period.
The global e-pharmacy market is segmented on the basis of drug type and by region. Based on drug type, the e-pharmacy market is fragmented into over the counter (OTC) drugs and prescription drugs. Due to the high increasing prevalence of chronic diseases and the growing demand for various drugs and other healthcare products, over the counter (OTC) drugs held the maximum share in 2018. For instance, various initiatives, such as Safe Medicine India (2016) supported around 60 startups for online pharmacies.
North America is expected to dominate the global e-pharmacy market over the forecast timeframe, owing to the growing number of internet users and increasing adoption of online services by the regional population. Moreover, government involvement in creating awareness among the customers regarding illegal online services is the major factor contributing to the North American e-pharmacy market. The existence of prominent players and the booming pharmaceutical industry are further anticipated to propel this regional market. Initiatives taken by the government, availability of hi-speed internet, rising consumer interest toward the purchase of online medicine, and increasing awareness among the people are fuelling the European e-pharmacy market.
Some key players of the global e-pharmacy market are The Walgreen Company, The Kroger Co., CVS Health, Express Scripts Holding, Doc Morris, Giant Eagle, Wal-Mart Stores, 1mg, OptumRx, and Netmeds.