Fortune Business Insights states that the ePharmacy market is projected to reach US$ 177,794.9 Mn by 2026, thereby exhibiting an impressive CAGR of 17.3% during the forecast period (2019-2026). The company further states that the global market was valued at US$ 49,727.7 Mn in 2018. According to a published report by Fortune Business Insights, titled, “ePharmacy: Global Market Analysis, Insights and Forecast, 2019-2026,” the ePharmacy market will witness notable growth during the forecast period due to the technological advancements based on artificial intelligence.
The report covers:
- Global ePharmacy market trends, with detailed analysis on consumer trends & manufacturer trends.
- Overview on supply analysis covering trends across raw material suppliers, technology providers and distributors.
- Key areas of investments identifying market opportunities and challenges in forecast timeframe.
- Competitive analysis of the industry players along with the overview on strategic management.
- Comprehensive company profiles of the major industry players.
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Leading Players operating in the ePharmacy market are:
Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:
- DocMorris
- CVS Health Corporation
- Express Script Holding Company
- Walgreen Co.
- Optum Rx, Inc.
- Giant Eagle, Inc.
- Walmart Stores, Inc.
- Rowland Pharmacy
- The Kroger Co.
Key Market Players to Focus on Bagging Funds for Expanding Online Platforms
Several key market players operating in the global ePharmacy market have begun exploring and implementing new strategies to provide the consumers with smooth service. Fortune Business Insights has listed a few key developments that have occurred in the global ePharmacy market since the past few years:
- Meds, a Swedish online pharmacy announced in January 2019 that it raised US$ 5.5 million in a funding round conducted by Inbox Capital, a family-owned venture capital company, headquartered in Sweden. The total amount of the startup has increased to US$ 10.5 million. Meds sells healthcare, beauty products, prescription, and non-prescription drugs. They have received permission from the Swedish Medical Product Agency to sell those. According to the company, approximately 40% of the sales come from the households in the Stockholm area as the home delivery service takes less than two hours. After receiving the funds, the company declared that it would soon expand their area of delivery to both Gothenburg and Malmö. Also, the company has planned to expand its warehouse area.
- Rite Aid Corp, a drugstore chain in the U.S., announced that it acquired Envision Rx Options, a pharmaceutical company, headquartered in Ohio in June 2015. The acquisition would aid Rite Aid in expanding its retail healthcare platform and boost its health and wellness products. The mixture of Envision Rx’s pharmacy-related businesses and Rite Aid’s online platform would provide the consumers with vast offerings across mail-order, specialty, and retail channels.
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Increasing Adoption of E-commerce Websites to Favor Growth in Asia Pacific
Geographically, the global ePharmacy market is grouped into Asia Pacific, North America, the Middle East and Africa, Europe, and Latin America. Out of these regions, North America is expected to remain in the leading position in the global ePharmacy market during the forecast period. The growth is attributed to the rapid shift of consumers towards online retailers from offline pharmacies. Also, increasing usage of smartphones and high speed of the Internet are expected to aid North America in gaining the highest global ePharmacy market share in the forthcoming years. Furthermore, a rise in geriatric population, increasing online orders, and growing adoption of online platforms will drive the market growth in this region.
Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Start-ups and Funding Overview
- Key Industry Developments – Mergers, Acquisitions, and Partnerships, 2018
- Overview of Regulatory Scenario – Key Countries
- Key Industry Trends
- Overview of e-Commerce Penetration – Key Countries
- Global ePharmacy Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Over-the-Counter Products
- Prescription Medicine
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- Rest of World
- North America ePharmacy Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis – By Product
- Over-the-Counter Products
- Prescription Medicine
- Market Analysis – By Country
- S.
- Canada
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Report Focus:
- Extensive product offerings
- Customer research services
- Robust research methodology
- Comprehensive reports
- Latest technological developments
- Value chain analysis
- Potential ePharmacy market opportunities
- Growth dynamics
- Quality assurance
- Post-sales support
- Regular report updates
Reasons to Purchase this Report:
- Comprehensive analysis of the ePharmacy market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
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