According to IMARC Group latest report titled” E-Pharmacy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the market exhibited strong growth during 2015-2020. The Global E-Pharmacy Market to grow at a CAGR of around 18% during 2021-2026. E-pharmacy is an online pharmacy that primarily operates over the internet to deliver medicines and other pharma products to the masses. These drugstores ensure a genuine supply of drugs by sourcing them directly from the manufacturers and licensed resellers. Since these services deliver the orders to the customers on their doorstep, they ensure multiple advantages to the users. They offer cost- and time efficiency, enhanced convenience, and a vast range of products to choose from, thereby gaining widespread prominence among the masses.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Market Trends:
The expanding adoption of e-commerce platforms in the pharmaceutical sector is primarily driving the e-pharmacy market. Moreover, the rising internet connectivity and the increasing penetration of smart devices are further augmenting the market growth. Apart from this, the escalating geriatric population, more prone to chronic ailments that lead to muscular impairments, is also catalyzing the product demand. Furthermore, the growing number of mobile-based software applications supported by numerous in-app benefits, such as discounted offers, customized purchases, express delivery, etc., is acting as another growth-inducing factor. In addition to this, the shifting preferences towards e-pharmacy platforms to mitigate the risk of COVID-19 upon human interaction is further bolstering the market growth. Additionally, the rising integration of various innovative technologies, including artificial intelligence (AI), health information technology (HIT), predictive analytics, etc., is expected to fuel the e-pharmacy market over the forecasted period.
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Competitive Landscape with Key players:
The report has also analysed the competitive landscape of the market with some of the key players being.
- CVS Health Corporation
- DocMorris
- Express Scripts Holding Company
- Giant Eagle Inc.
- Lloyds Pharmacy Ltd
- Optumrx, Inc.
- Rowland Pharmacy
- The Kroger Co
- Walgreen Co
- Walmart Inc
E-Pharmacy Market Segmentation:
Our report has categorized the market based on region, drug type, product type, platform and payment method.
Breakup by Drug Type:
- Over the Counter (OTC) Drugs
- Prescription Drugs
Breakup by Product Type:
- Skin Care
- Dental
- Cold and Flu
- Vitamins
- Weight Loss
- Others
Breakup by Platform:
- App-Based
- Web-Based
Breakup by Payment Method:
- Cash on Delivery
- Online Payment
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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