ePharmacy Market Size
The size of the global ePharmacy market is estimated to grow at a CAGR of 16.81% from 2020 to 2025.
Key market drivers:
Increasing COVID-19 cases and rising prevalence to stay safe at home without going out is majorly driving the global online pharmacy market growth. The emergence of e-commerce in the medical sector and creating awareness over ordering the medicines through mail prescription are likely to boost the market’s growth rate. In addition, growing support from government organizations is propelling the demand of the e-pharmacy market. Online stores are offering special benefits to the customers, which is fuelling the market’s growth rate. An increasing number of people with various health disorders are also ascribed to bolster the market’s growth rate. There is no need to depend on the third person for the elderly and chronic ill patients as the online pharmacies deliver the medicines to the doorstep, which is an additional advantage for the growth rate of the market.
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However, the lack of proper internet connectivity in rural areas is slowly hampering the growth rate of the e-pharmacy market. Also, in underdeveloped countries, the demand for this market is degrading due to fewer literacy rates.
Impact of Covid-19 On the Global ePharmacy Market:
COVID-19 pandemic has shown enormous results in the e-pharmacy market. The lockdown restrictions due to COVID-19 has boosted up the demand of the market. However, traditional pharmaceutical stories are worried about their shares in the market. The leading e-commerce companies, Amazon and Reliance, have invested huge amounts in delivering the best products to the customers. There is a rapid increase in the purchase of over the counter drugs and prescription drugs online during the COVID-19 times. Due to this outbreak, everything in digital healthcare has received a positive impact on the shares. Also, the researchers estimate that this flow will remain the same post the coronavirus.
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This research report on the global ePharmacy market has been segmented & sub-segmented into the following categories:
ePharmacy Market – By Drug Type:
- Prescription Drugs
- Over The Counter Drugs
ePharmacy Market – By Product Type:
- Skin Care
- Cold And Flu
- Weight Loss
ePharmacy Market – By Region:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
Geographically, The North American market is leading the global ePharmacy market with the dominant shares among all the regions. The internet users in this region are very high, where this factor is lucratively boosting up the demand of the market. Government initiative steps in creating awareness over the steps taken while purchasing the medicines online greatly influence the US market. Canada is next to the US in leading the significant shares of the market. In addition, a rise in the incidences of chronic diseases in North America is anticipated to level up the growth rate of the e-pharmacy market.
In Europe, on-going research on the development of new technologies in digital healthcare promises to leverage the demand of the market in the coming years. Support from the Food and Drug Administration in forming strict rules and regulations in the urban areas is accelerating the market’s growth rate in this region.
Asia Pacific is deemed to hit the highest CAGR in the foreseen period. The growing population and rise in the number of e-pharmaceutical stores are surging the demand of the market. Besides, the introduction of various applications in smartphones and tablets is greatly influencing the growth rate of the e-pharmacy market.
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Key Market Participants:
Major companies leading the global ePharmacy market analyzed in this report are CVS Health, Walmart Stores, Inc., Walgreen Co., The Kroger Co., Rite Aid Corp, Lloyds Pharmacy Ltd., Planter, Canada Drugs, Medicate, Express Scripts Holding Company, Secure Medical Inc., Sani care A.B., Doctors Rowlands Pharmacy, Giant Eagle, Inc. AND Optus Rx, Inc.
List of Tables and Figures of the report:
- Global ePharmacy/Online Pharmacy Market, By Region, From 2020 to 2025 (USD Million)
- Global ePharmacy/Online Pharmacy Market, By Product, From 2020 to 2025 (USD Million)
- Global Skin Care Market, By Region, From 2020 to 2025 (USD Million)
- Global Dental Market, By Region, From 2020 to 2025 (USD Million)
- Global Cold And Flu Market, By Region, From 2020 to 2025 (USD Million)
- Global Vitamins Market, By Region, From 2020 to 2025 (USD Million)
- Global Weight Loss Market, By Region, From 2020 to 2025 (USD Million)
- Global Others Market, By Region, From 2020 to 2025 (USD Million)
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