ePharmacy Market Share, Growth, Sales, Trends and Supply, Forecast till 2023
Global ePharmacy Market: Information by Drug Type (Prescription Drugs and Over the Counter (OTC) Drugs), Operating platform (App and Website), Business model (Marketplace, Pharmacy and Direct) and Region (Americas, Europe, Asia-Pacific and Rest of the World) - Forecast till 2027
Market Highlights
Global ePharmacy Market is expected to register a CAGR
of 12.5% during the forecast period and expected to hit USD
164,829.5 Million by 2027.
One of the progressive
technology models, which have evolved in the last few years, is telemedicine
that has enabled access to the finest doctors at the tap of a button. Another
recent innovation that has positioned itself as an attractive model in the
healthcare space is e-pharmacy.
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The ePharmacy cuts down the
long chain of distributors and directly provides medicine to the end user at a
lesser price. E-pharmacy is an online pharmacy, which operates over the
internet and provides medicines to consumers through mail or shipping
companies.
Factors such as the rise in
popularity of e-commerce platforms, increasing investments in ePharmacy
start-ups and rising adoption of digital technologies in the healthcare sector
are, are driving the growth of the ePharmacy market. Additionally, the key
players adopting the strategy of bringing in acquisition for expanded
geographical reach as well as optimization of operational costs are also driving
the growth of the ePharmacy market. However, a rise in pricing pressure by
regulatory agencies and the availability of counterfeit online pharmacies is
posing as a challenge for the growth of the market.
Segment Analysis
Global ePharmacy Market has
been divided based on drug Type, Operating Platform, and Business Model.
The market, based on drug
type, has been segregated into prescription drugs and over the counter (OTC)
drugs.
Based on operating
platform, the ePharmacy market has been divided into app and websites.
On the basis of business
model, the ePharmacy market is segregated into the marketplace, pharmacy, and
direct.
Regional Analysis
The global ePharmacy
market, based on region, has been divided into the Americas, Europe, Asia-Pacific,
and the Middle East and Africa. The Americas is likely to hold the largest
share of the global ePharmacy market during the assessment period owing to the
presence of a large number of ePharmacy in the region. Some of the renowned
ePharmacy in the region include Walgreens Boots Alliance, Inc., Wal-Mart, Inc.,
CVS Health, PillPack, Inc., and others. According to a 2019 survey, 19% of
health care providers in the U.S. offer a customer’s web-based prescription
refill online program. It was also reported that several retail pharmacies have
been offering mobile apps for an online prescription refill. A large number of
companies such as Walgreens and CVS Pharmacy offer mobile apps to make
prescription refill easy and convenient with a round to clock delivery. The
ePharmacy market in Europe is expected to propel during the forecast period,
owing to factors such as rising government initiatives, increasing awareness
among customers regarding ePharmacy, and the convenience associated with the
offered services. The fast growth of the Asia-Pacific region is due to rising
investment for ePharmacy startups and the increasing per capita income along
with government initiatives to enhance the quality of healthcare. China, India,
and Australia have a lucrative market for ePharmacy due to the growing
investment. The online pharmacy market in India attracted funding of USD 93
million by 2015. As a result, 60 online pharmacy start-ups emerged in 2017.
Key Findings of the Study
- The Global ePharmacy
Market was valued at USD 62,587.0 Million and is expected to register a
CAGR of 12.5% during the assessment period
- The Americas accounted
for the largest share of the global market due to the increasing
preference of customers to buy medications online and growth in the number
of ePharmacy. These factors are driving the growth of the ePharmacy market
in the region
- Based on the
drug type, the prescription
drugs segment accounted for the largest market share of 55.6% in 2019
- Based on the operating platform, the app segment accounted for the
largest market share of 57.6% in 2019
- Based on the business model, the marketplace segment accounted for
the largest market share with a value of USD 28,813.3 Million in 2019
Market, by Region
- Americas
- North America
- US
- Canada
- Latin America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
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The report for Global market by Market
Research Future comprises of extensive primary research along with the detailed
analysis of qualitative as well as quantitative aspects by various industry
experts, key opinion leaders to gain a deeper insight of the market and
industry performance. The report gives a clear picture of the current market
scenario which includes past and estimated future market size with respect to
value and volume, technological advancement, macro economical and governing
factors in the market. The report provides detail information about and
strategies used by top key players in the industry. The report also gives a
broad study of the different market segments and regions.
Key Players
MRFR recognizes the following companies as
the Key Players in the Global ePharmacy Market— Walgreens Boots Alliance,
Inc., Wal-Mart, Inc., CVS Health, Dr. Fox Pharmacy, DocMorris N.V., Rowlands
Pharmacy, OptumRx, The Online Drugstore, Well Pharmacy, LloydsPharmacy and
Others.
TOC:
1.
Report Prologue
2. Market
Introduction
2.1
Definition
2.2 Scope of the
Study
2.2.1
Research Objective
2.2.2
Assumptions
2.2.3
Limitations
3. Research
Methodology
3.1 Introduction
3.2 Primary
Research
3.3 Secondary research
3.4 Market Size
Estimation
TOC…Continued
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