According to the latest report by IMARC Group, titled "E-Pharmacy Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global e-pharmacy market exhibited strong growth during 2015-2020. 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.
Global E-Pharmacy Market Trends:
The global market is majorly driven by the widespread preference for e-commerce facilities and contactless delivery among the masses. Along with the improving internet connectivity across the globe and the growing penetration of smart devices, this is creating a positive outlook for the market. Moreover, the increasing incidences of chronic lifestyle disorders and the growing geriatric population on the global level have propelled the need for e-pharma solutions for regulated and door-step delivery of medicines and other healthcare products. Furthermore, multiple in-app benefits, such as express delivery and discounted offers, offered by the mobile-based software applications of numerous e-pharma companies is also providing an impetus to the market growth. Apart from this, there has been a considerable rise in the demand for these services in the recent past due to the mandatory lockdowns imposed by the governments of multiple countries to control the spread of the COVID-19 pandemic. Some of the other factors contributing to the market growth include the hectic lifestyles led by the masses and the widespread integration of predictive analytics, artificial intelligence (AI), and health information technology (HIT) with e-pharmacy solutions. On account of the aforementioned factors, the market is anticipated to grow at a CAGR of around 18% during 2021-2026.
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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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