E-pharmacy Market Size

E-pharmacy Market Size

E-pharmacy Market size crossed USD 98.8 billion in 2022 and is primed to grow at over 14.5% CAGR between 2023 and 2032. A commendable rise in internet users worldwide is among the leading factors contributing to industry expansion.

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Internet usage has grown considerably over recent years, given the increasing smartphone penetration and higher adoption of internet-based applications in developed countries. According to the U.S. Census Bureau, over two-thirds population have internet access on mobile devices in the country. Additionally, a growing population base is contributing to the increased use of the internet, with the focus of providers on offering affordable tariffs and supportive programs.

This apart, increasing technological innovations and growing consumer inclination toward e-commerce platforms has further boosted the adoption of web-based and online services. Though these services can be challenging to navigate, especially for people with limited experience or those with disabilities, service providers globally have been working toward simplifying user interfaces and enhancing their accessibility among the masses. This, in addition to the increasing public-private partnerships focused on providing affordable internet services to underserved communities, will further aid market performance.