MarkNtel Advisors’ industry professionals present a comprehensive and professional study of the GCC E-pharmacies Market. The study is a perfect blend of quantitative and qualitative data that highlights the industry’s competition as well as gap analysis, key market developments, challenges, new opportunities, and market trends. During the forecast period 2023-2028, the GCC E-pharmacies Market is expected to grow at a CAGR of 9%.
Key Objectives of the Study:
- To provide in-depth information on the critical factors influencing the market growth.
- To evaluate the market competition, including new product/service launches, market expansions, contracts, and acquisitions.
- To examine the market in terms of distinct growth trends, market share contributions, and potential future growth.
- To develop a strategic profile of the major market players and conduct an in-depth analysis of their expansion plans.
- The value of a product or service will be determined by key segments and geographical areas using historical data and projections through 2028.
- Recognizing the numerous sub-segments within the GCC E-pharmacies market is required to comprehend its structure.
- To identify, characterize, and analyzes market share, market value, competitive landscape, SWOT analysis, Porter’s Five Forces analysis, and expansion plans for major market players throughout the forecast period.
- To identify key geographic areas that will dominate and expand (together with each of their primary countries).
- Identify, characterize, and analyze major market players’ market share, market value, competitive landscape, SWOT analysis, Porter’s Five Forces analysis, and expansion plans over the forecast period.
- To forecast the dominance and growth of major geographic regions (together with each of their primary countries).
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Market Dynamic
This report offers a comprehensive examination of the GCC E-pharmacies market analysis. The market estimates in the report are based on extensive research, interviews, and internal expert reviews. These market estimates were developed by investigating the various political, social, and economic factors influencing the development of the GCC E-pharmacies market, as well as current market dynamics.
Market Growth Driver: – The rapid rise in internet & smartphone penetration has significantly boosted the use of e-commerce platforms in the past few years as they provide a plethora of benefits, such as discounted rates, quick at-home deliveries, and a wide variety of product options. This boom in the e-commerce sector has directly impacted the e-pharmacy business by enabling the companies operating in the industry to capture an extensive consumer base. In addition, technological advances are enabling organizations to provide better & innovative services in order to enhance the satisfaction of users visiting their portals. Hence, these aspects are projected to drive the GCC E-Pharmacies Market during 2023-28.
Growth Restraint of Market: – The prime factors hampering the growth of the GCC E-Pharmacy Market include the presence of counterfeit products & fraudulent online pharmacies, coupled with security & privacy concerns among users over their sensitive healthcare data. These unauthorized online retailers sell drugs not approved by the FDA, which increases the chances of people getting contaminated, as fake medications contain inappropriate components. Hence, these aspects shall remain the major growth restraints for the e-pharmacy industry in the GCC region over the forecast years.
Top Participants Analysis
The study provides useful information that can be used to better understand the market and develop effective business expansion strategies. This section provides a thorough examination of new market entrants and current competitors in the GCC E-pharmacies industry, covering major issues such as market positioning and potential growth strategies. The study examines the competitive environment of the GCC E-pharmacies market and provides detailed profiles of the key players. The companies listed are as follows:
- – Care n Cure Pharmacy
- – Wellcare Pharmacy
- – BinSina
- – Aster Pharmacy (Aster Online)
- – Al Mutawa Pharmacies, Inc
- – MediSouq
- – Kulud Pharmacy
- – Nahdi Pharmacy (Nahdi Medical Company)
- – Medicina Pharmacy
- – Nasser Pharmacy W.L.L.
- – Others (NextDoorMed, etc.)
This covers a review of the top market players’ earnings, product offerings, key business models, and overall revenue produced during the past few years.
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Complete Segmentation Study:
The research includes precise statistical data, facts, trends, statistics, and industry segmentation insights. It concentrates on and discusses the major market segments and includes a geographical analysis. The market under study is categorized using the following standards.:
Segment Divided into, By Drug Type
- Over-the-Counter (OTC) Drugs
- Prescription Drugs
Segment Divided into, By Product Type
- Cold and Flu
- Vitamins
- Skin Care
- Weight Loss
- Dental
- Others (Baby Care, Maternity Care, etc.)
Segment Divided into, By Operating Platform
- Website
- Applications
Segment Divided into, By Delivery Mode
- Direct
- Pharmacy
- Marketplace
Recognizing the significance of various elements that support market growth is made easier by understanding the segments.
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Country Wise Market Growth Data
The GCC E-pharmacies market is bifurcated into UAE, Saudi Arabia, Bahrain, Oman, Qatar, Kuwait. Of all countries in GCC, the UAE is projected to acquire a significant share of the E-Pharmacies Market during 2023-28. It owes primarily to the rapidly rising aging population, i.e., more susceptible to developing acute & chronic conditions, as people aged 65 & above are unable to visit pharmacies at locations far away.
In addition, the flourishing pharmaceutical industry in the UAE, with increasing government investments in establishing a world-class healthcare infrastructure, coupled with burgeoning imports of pharmaceuticals to meet the ever-growing consumer demands, are other prominent aspects projected to drive the e-pharmacies market in the country over the coming years.
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