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Global ePharmacy Market Analysis 2019 - Latest MRFR Industry Research, Forecast To 2025

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Rohit Kamble
Global ePharmacy Market Analysis 2019 - Latest MRFR Industry Research, Forecast To 2025

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

Market Highlights

Global ePharmacy Market is expected to register a CAGR of 12.5% during the forecast period and expected to hit USD 164,829.5 Million by 2027.

One of the progressive technology models, which have evolved in the last few years, is telemedicine that has enabled access to the finest doctors at the tap of a button. Another recent innovation that has positioned itself as an attractive model in the healthcare space is e-pharmacy. 

The ePharmacy cuts down the long chain of distributors and directly provides medicine to the end user at a lesser price. E-pharmacy is an online pharmacy, which operates over the internet and provides medicines to consumers through mail or shipping companies.

Factors such as the rise in popularity of e-commerce platforms, increasing investments in ePharmacy start-ups and rising adoption of digital technologies in the healthcare sector are, are driving the growth of the ePharmacy market. Additionally, the key players adopting the strategy of bringing in acquisition for expanded geographical reach as well as optimization of operational costs are also driving the growth of the ePharmacy market. However, a rise in pricing pressure by regulatory agencies and the availability of counterfeit online pharmacies is posing as a challenge for the growth of the market.

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Segment Analysis
Global ePharmacy Market has been divided based on drug Type, Operating Platform, and Business Model.
The market, based on drug type, has been segregated into prescription drugs and over the counter (OTC) drugs.

Based on operating platform, the ePharmacy market has been divided into app and websites.

On the basis of business model, the ePharmacy market is segregated into the marketplace, pharmacy, and direct.
Regional Analysis

The global ePharmacy market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas is likely to hold the largest share of the global ePharmacy market during the assessment period owing to the presence of a large number of ePharmacy in the region. Some of the renowned ePharmacy in the region include Walgreens Boots Alliance, Inc., Wal-Mart, Inc., CVS Health, PillPack, Inc., and others. According to a 2019 survey, 19% of health care providers in the U.S. offer a customer’s web-based prescription refill online program. It was also reported that several retail pharmacies have been offering mobile apps for an online prescription refill. A large number of companies such as Walgreens and CVS Pharmacy offer mobile apps to make prescription refill easy and convenient with a round to clock delivery. The ePharmacy market in Europe is expected to propel during the forecast period, owing to factors such as rising government initiatives, increasing awareness among customers regarding ePharmacy, and the convenience associated with the offered services. The fast growth of the Asia-Pacific region is due to rising investment for ePharmacy startups and the increasing per capita income along with government initiatives to enhance the quality of healthcare. China, India, and Australia have a lucrative market for ePharmacy due to the growing investment. The online pharmacy market in India attracted funding of USD 93 million by 2015. As a result, 60 online pharmacy start-ups emerged in 2017.

Key Findings of the Study

  • The Global ePharmacy Market was valued at USD 62,587.0 Million and is expected to register a CAGR of 12.5% during the assessment period
  • The Americas accounted for the largest share of the global market due to the increasing preference of customers to buy medications online and growth in the number of ePharmacy. These factors are driving the growth of the ePharmacy market in the region
  • Based on the drug type, the prescription drugs segment accounted for the largest market share of 55.6% in 2019
  • Based on the operating platform, the app segment accounted for the largest market share of 57.6% in 2019
  • Based on the business model, the marketplace segment accounted for the largest market share with a value of USD 28,813.3 Million in 2019

Access Report Details @  https://www.marketresearchfuture.com/reports/epharmacy-market-6615

The report for Global market by Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain a deeper insight of the market and industry performance. The report gives a clear picture of the current market scenario which includes past and estimated future market size with respect to value and volume, technological advancement, macro economical and governing factors in the market. The report provides detail information about and strategies used by top key players in the industry. The report also gives a broad study of the different market segments and regions.

Key Players

MRFR recognizes the following companies as the Key Players in the Global ePharmacy Market— Walgreens Boots Alliance, Inc., Wal-Mart, Inc., CVS Health, Dr. Fox Pharmacy, DocMorris N.V., Rowlands Pharmacy, OptumRx, The Online Drugstore, Well Pharmacy, LloydsPharmacy and Others.

 

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