ePharmacy Market Size By Product Type (OTC Medicine, Prescription Medicine), By Therapy Area (Weight Loss, Vitamins, Cold & Flu, Dermatology), Industry Analysis Report, Regional Outlook, Industry Analysis Report, Application Potential, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2020  |  Report ID: GMI3303  |  Authors: Sumant Ugalmugle, Rupali Swain

Report Format: PDF   |   Pages: 120   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry trends

ePharmacy Market size valued at USD 59 billion in 2019 and is poised to grow at over 14.3% CAGR between 2020 and 2026.

ePharmacy Market

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Improving healthcare infrastructure, easy availability of the pharmaceuticals at affordable cost and increasing awareness among masses regarding e-commerce will drive the market growth. Rising demand for convenience and growing use of digital technology in healthcare sector will further augment the ePharmacy market revenue.

COVID-19 pandemic has accelerated the shift of consumers towards e-commerce and online pharmacy. Due to stringent rules and regulations and strict lockdowns, people are moving towards online pharmacies to avoid cross contamination. Thus, various initiatives have been taken to improve the access to various products, maintaining high demand for various pharmaceutical products. However, increasing number of illegal online pharmacies may impede the market growth.

Rise in number of internet users and adoption of digital health platforms

Population across the world is adapting to online pharmacies with rapidly increasing number of smartphone users, improved digital infrastructure and online payment methods. Also, rising government healthcare expenditure and faster adoption of internet among users will further fuel the ePharmacy market expansion.

With growing pharmaceutical industry, drug makers are availing various opportunities for growth and use of e-pharmacies to market their products and expand their customer base through online channels. Online pharmacies are helping patients and healthcare professionals to get connected for better treatment and positive outcome.

Rising demand for prescription medicine due to increasing prevalence of chronic disorders

ePharmacy Market By Product Type

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Prescription medicine segment held over 24% ePharmacy market share in 2019 owing to rising incidence of chronic disorders such as cardiovascular disorders, COPD, and diabetes, among others. Adoption of digital health channels resulting into better medical treatment options for patients will propel demand for these drugs and influence the product supply in the market.

Furthermore, advantages of prescription drugs over OTC drugs in terms of safety due to healthcare professionals’ recommendations will create demand for prescription drugs. However, in some countries, selling of prescription drugs through online channels is still not legalized and need to comply with stringent regulations for online distribution of the drugs.

Growing number of patients with vitamin deficiency

Vitamins segment in the ePharmacy market is predicted to witness growth rate of 14.7% during the forecast period. Rising consumer awareness regarding importance of vitamins and dietary supplements will boost demand for vitamins through online channels.

Growing demand for nutritionally and functionally enriched products and rising prevalence of vitamin deficiency among the population will offer immense growth opportunities for the market. Moreover, rising self-medication practice among the population will lead to higher sale of multivitamin pharmaceutical products in the future on account of availability of several brands on such platforms.

Rising internet penetration and presence of major market players in the North America

North America ePharmacy Market By Country

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North America ePharmacy market accounted for over USD 20 billion revenue in 2019 and will grow at substantial CAGR through 2026. Growing internet penetration, leading to rapid adoption of recent technologies and demand for digital health platforms are growth driving factors in the region owing to convenience in accessing wide medicine range. Moreover, presence of local online pharmacy players along with major market players in the region will further augment the market size.

Rapidly increasing disease burden and exponentially rising demand for healthcare products and services has offered huge potential to the market players. Furthermore, growing number of start-ups and lucrative offers and discounts provided by the internet pharmacies will propel the market size expansion.

Companies are focusing on merger and acquisition strategies that will enhance their business growth potential

Some of the notable players operating in the ePharmacy market include 1mg, DocMorris, Netmeds Marketplace Ltd., Express Scripts, and Medlife International Pvt. Ltd. These companies are adopting various inorganic growth strategies to obtain competitive advantage and strengthen their market position.

Some of the recent industry developments:

  • In November 2020, Amazon announced the launch of online pharmacy that will allow customers to order medication online, thus augmenting their business and increasing their customer base globally.
  • In August 2020, MedLife and PharmEasy announced their merger, where MedLife will be selling off their operations to PharmEasy for almost 20% stake in the latter. This merger will offer business expansion opportunities to the firm in emerging economies.   

The ePharmacy market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2015 to 2026 for the following segments:

Market, By Product Type

  • OTC medicine
  • Prescription medicine

Market, By Therapy Area

  • Weight loss
  • Vitamins
  • Cold & flu
  • Dermatology
  • Others

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • France
    • Germany
    • Spain
    • Italy
    • Russia
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • UAE

Frequently Asked Questions (FAQ) :

Global market size of ePharmacy registered a revenue of USD 59 billion in 2019 and is likely to expand at a CAGR of over 14.3% through 2026 with increased digitization in the healthcare sector.
Prescription medicine segment captured 24% of market share in 2019 and will be driven by the increasing cases of chronic disorders like cardiovascular disorders, COPD, and diabetes, etc.
The vitamins segment is set to expand at a 14.7% CAGR through 2026 owing to rising awareness regarding the importance of dietary supplements.
North America industry revenue was valued at over USD 20 billion in 2019 and is anticipated to grow with the rapid adoption of digital health platforms and access to a wide range of medicines.?

Premium Report Details

  • Published Date: Dec 2020
  • Pages: 120
  • Tables: 125
  • Charts / Figures: 10
  • Companies covered: 10
  • Countries covered: 18

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