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
ePharmacy Market Synopsis
Market Research Future (MRFR) predicts that the global ePharmacy market is expected to acquire a significant market value of USD 164 829.5 million while thriving at a CAGR of 12.5% by 2027.
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The increasing healthcare burden is expected to grow the demand to cut down medication expenses which is anticipated to drive the ePharmacies market during the assessment period. The rising penetration of the internet in the healthcare sector surges the demand for online services, which is likely to promote e-commerce companies that can boost the market growth. In addition, the growing adoption of ePharmacies due to lucrative offers; such as, price discounts, home delivery, and ease of availability, are recognized to be another potential ePharmacy market driver.
On the other hand, the presence of illegitimate ePharmacies is likely to bring a negative impact on market growth. However, the fueling investments in start-ups are expected to underpin the industry that can propel the ePharmacy market during the forecast period.
ePharmacy Market Segmentation
The segmental analysis of the global ePharmacy market is done by type, business model, and operating platform.
The type-based segments of the global ePharmacy market are over the counter (OTC) drugs and prescription drugs. Among all, the prescription drugs segment is expected to account for the largest market share during the forecast period.
The business model-based segments of the global ePharmacy market are pharmacy, the marketplace, and direct. Among all segments, the marketplace segment is likely to acquire the maximum market share during the review period.
The operating platform-based segments of the global ePharmacy market are websites and app. Among all segments, the app segment is anticipated to procure the largest market share during the projection period.
ePharmacy Market Regional Analysis
According to the research conducted by MRFR, the global market for ePharmacy is segmented into Europe, North America, Asia-Pacific, and the Middle East & Africa.
The analysis reveals that the global market is expected to be dominated by North America owing to the growing number of ePhramcy. The rising awareness among consumers is expected to drive the market additionally. Among all countries, the Americas is likely to make the most substantial contribution in developing the regional market during the review period.
Europe is predicted to procure a significant amount of market share during the forecast period. The region is likely to propel due to the expansion of e-commerce and growing penetration of internet in the healthcare sector. Furthermore, the growing geriatric population and increasing incidence of chronic ailments are expected to drive the regional market in the coming period.
APAC region is recognized to be a lucrative market owing to the growing awareness about e-Commerce. The increasing disposable income is likely to strengthen the regional trade in the forecast period. The growing awareness about the benefits of ePharmacies can augment the industry significantly. The increasing incidence of chronic illness and the growing geriatric population are expected to propel the regional market during the assessment period. The growing initiatives taken by governments to improve the healthcare infrastructure are expected to boost the market growth in the region.
MEA region is projected to grow significantly owing to the growing focus to develop the healthcare infrastructure. Various governments are taking several initiatives to increase awareness about e-commerce that can help considerably in the coming period.
ePharmacy Market Key Players
Eminent players of the global ePharmacy market are B. Braun Melsungen AG, 3M, Baxter International INC, Cardinal Health, Smith & Nephew Plc, Coloplast Corp., Integra Lifesciences Holdings Corporation, ConvaTec Group Plc, Mölnlycke Health Care AB and Avery Dennison Corporation.
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