Coherent Market Insights published a business research report on E-pharmacy Beauty and Personal Care (BPC) Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2023–2030. E-pharmacy Beauty and Personal Care (BPC) Market with 150+ market data Tables, Pie Chat, Graphs & Figures spread through Pages and easy to understand detailed analysis. The information is gathered based on modern floats and requests identified with the administrations and items.
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Globally, the market of e-pharmacy beauty and personal care (BPC) is anticipated to the extent US$ 20.20 Bn by the end of the year 2027, experiencing substantial development in the predicted period from 2020 to 2027. This is due to the growing infiltration of internet added with increasing need for products of beauty and personal care. As per report by Internet World Stats issued in December 2018, the figure of internet users was 4,208 Mn in June 2018 having 55.1% penetration, increased from 3,270 Mn in the year 2015 having 45.0% penetration worldwide.
The market of E-pharmacy is mainly determined by change in standard of living, increasing population among youth and the working class, coupled with the rise in consciousness about beauty and personal care products is adding to the increased need for personal care products. Moreover, this results in increased sale of such products by the e-pharmacy mode and others. Genuineness and the low comparison of prices gain the attention of the consumers in the direction of online pharmacy channels in comparison to other websites of e-commerce.
E-pharmacy aids in ordering products via online, thus diminishing cash transactions and promoting cashless economy. The Indian Government is trying to endorse digital payment system by launching ‘Digital India Initiative’ in the year 2015. This inventiveness wishes to provide access of internet and coverage by mobile phones throughout India, which is anticipated to assist many people to get online access and develop techniques for digital payment.
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Furthermore, to inspire poor and illiterate people in the rural areas to create digital payments, the Indian Government introduced ‘Aadhaar Pay’ in March 2019, which safeguards the financial transactions made by online mode. It is anticipated to aid people in the rural regions to buy personal care products via online mode with a single click. It will help rural people where stores are not nearby. Thus, rise in initiatives of the government to help cashless economy is anticipated to fuel the market growth in the predicted period.
Globally, the market of e-pharmacy was projected to be valued at US$ 7.69 Bn in the year 2018, and is anticipated to record a CAGR of 11.4% as per revenue, in the predicted period from 2019 to 2027.
North America, in 2017, is reported for the major share of the market, adding 43.3% as per revenue, in the market of e-pharmacy BPC worldwide. Rising expenditure of the consumer in the personal and health care products is anticipated to push the market growth of the e-pharmacy in the region. As per the United States National Health Expenditure 2016 highlights, the expenditure of the United States was US$ 3.3 trillion, reporting a normal expenditure of US$ 10,348 per person in the year 2016. Furthermore, total GDP (Gross Domestic Product) in relation to healthcare rose to 17.9% in the year 2016 from 17.7% in the year 2017.
Moreover, Asia Pacific is anticipated to witness burgeoning market growth in the predicted period. The growth in the regions is credited to the rising need for the personal care & beauty products and the development of the e-commerce industry in the developing countries like China, and India. For example, as per a report on e-commerce issued by IBEF (Indian Brand Equity Foundation), the e-commerce market in India is anticipated to the extent US$ 200 Bn by the end of the year 2026, from US$ 38.5Bn in 2017. In the year 2018, the market for Indian e-commerce was projected to be US$ 50Mn, amongst which the segment of baby, personal and beauty care reported 8% as per value.
Companies functioning in the market of e-pharmacy worldwide are emphasizing on many strategies to increase their share of the market. For example, an Indian based e-pharmacy company, Medlife in March 2018 pronounced their collaboration plan with Aditya Birla Health Insurance (ABHIC). The collaboration is anticipated to provide cashless delivery of medicine to the ABHIC customers. This will care for the customers of ABHIC to ensure paperless and cashless delivery experience of medicine at their homes.
Some of the main companies functioning in the market of e-pharmacy BPC are LLOYDS Pharmacy Limited, Pharmacy2u Ltd., Gordons Direct, Shop Apotheke, CVS Health, Walgreen Company, Familymeds, Inc., The Medicine Shoppe Pharmacy, Cardinal Health, and Rite Aid Corporation.
The companies in the field of e-pharmacy are emphasizing on the customer handiness by providing services like online consultations with physicians, doctors, beauty specialist via videos and hatting services. For example, formerly Medlife was providing telephonic consultations and is now deciding to provide consultation of the doctors through video by means of its acquisition of EClinics24/7 in November 2018. This is a telephonic platform connecting its users with the doctors for video consultation, chat, voice call or email/web-based consultation. Medlife app and website will assist the patients in availing this facility.
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Table of Content
Chapter 1 Industry Overview
1.3 Research Scope
1.4 Market Analysis by Regions
1.5 Global E-pharmacy Beauty and Personal Care (BPC) Market Size Analysis from 2023 to 2030
11.6 COVID-19 Outbreak: E-pharmacy Beauty and Personal Care (BPC) Industry Impact
Chapter 2 Global E-pharmacy Beauty and Personal Care (BPC) Competition by Types, Applications, and Top Regions and Countries
2.1 Global E-pharmacy Beauty and Personal Care (BPC) (Volume and Value) by Type
2.3 Global E-pharmacy Beauty and Personal Care (BPC) (Volume and Value) by Regions
Chapter 3 Production Market Analysis
3.1 Global Production Market Analysis
3.2 Regional Production Market Analysis
Chapter 4 Global E-pharmacy Beauty and Personal Care (BPC) Sales, Consumption, Export, Import by Regions (2018-2023)
Chapter 5 North America E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 6 East Asia E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 7 Europe E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 8 South Asia E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 9 Southeast Asia E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 10 Middle East E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 11 Africa E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 12 Oceania E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 13 South America E-pharmacy Beauty and Personal Care (BPC) Market Analysis
Chapter 14 Company Profiles and Key Figures in E-pharmacy Beauty and Personal Care (BPC) Business
Chapter 15 Global E-pharmacy Beauty and Personal Care (BPC) Market Forecast (2023-2030)
Chapter 16 Conclusions
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