USD 52 billion
E-pharmacy Market Size, Share, Growth Analysis, By Drug(Prescription Drugs, Over-the-Counter (OTC)), By Product Type(Skin Care, Dental, Cold, Flu), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35C2003 |
Region:
Global |
Published Date: February, 2024
Pages:
165
|Tables:
66
|Figures:
75
E-pharmacy Market Insights
E-pharmacy Market size was valued at USD 52 billion in 2019 and is poised to grow from USD 62.14 billion in 2023 to USD 308.8 billion by 2031, growing at a CAGR of 19.5% in the forecast period (2024-2031).
The growth of the Online Pharmacy Market has been largely supported by a rise in R&D expenditures globally; however, the current COVID-19 outbreak and economic slump have affected the whole market statistics of numerous industries globally. As a precaution, people throughout the world began taking vitamin and mineral supplements.
In an attempt to stem the fast spread of the COVID-19 virus, governments throughout the world used harsh measures such as lockdowns, border closures, and the introduction of strict social distancing rules. These decisions had a tremendous influence on the global economy, leading many industries to suffer. The influence of COVID-19 on market demand is considered when analysing present and forecast market sizes and growth patterns for all regions and countries.
US E-Pharmacy Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Over-the-Counter (OTC)
Fastest Growth
Over-the-Counter (OTC)
Growth Rate
19.5% CAGR
Global E-pharmacy Market 2021-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
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E-pharmacy Market Segmental Analysis
The global E-pharmacy market is segmented by Drug in Prescription Drugs and Over-the-Counter (OTC). By Product type the E-pharmacy Market is segmented by Skin Care, Dental, Cold and Flu, Vitamins, Weight Loss, Other. Based on region E-pharmacy Market is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.
E-pharmacy Market Analysis by Drug Type
OTC leads the market in 2021. Increased internet penetration and increased knowledge of the benefits of online OTC are important elements driving the growing potential in countries like the United States and Germany. The necessity and desire for self-care, such as self-medication, is increasing the importance of pharmaceutical care. The rise in demand for self-care is predicted to boost demand for online services, particularly for over-the-counter (OTC) medications. The function of pharmacists has evolved throughout time.
Global E-pharmacy Market By Drug Type, 2021 (%)
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E-pharmacy Market Regional Insights
In terms of revenue generation, the online pharmacy sector in North America is the most profitable. Because of the ease with which a broad variety of drugs may be bought, rising internet penetration is one of the region's development drivers, resulting in quick acceptance of new technologies as well as a need for digital health platforms. The presence of local online pharmacy providers as well as large industry players in the region will also contribute to market expansion.
Global E-pharmacy Market By Geography, 2021 - 2028
- Largest
- Fastest
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E-pharmacy Market Dynamics
E-pharmacy Market Driver
- E-pharmacy market is growing in demand as it provides customers to purchase pharmaceuticals from authorized distributors and well organized e-commerce platforms. This service mitigates the issues of buying poor and counterfeit products from illegal distributors.
- E-pharmacies can assist secure the provision of authentic and approved pharmaceuticals (a wide range of drugs that are safe for use) at reasonable rates (by removing intermediaries and giving discounts) and with greater ease of access (online platform, home delivery & improved digital payment infrastructure). As a result of the convenience and value they provide, E-Pharmacies are predicted to be generally embraced in our country.
E-pharmacy Market Restraint
- To provide a flawless consumer experience, these online platforms rely substantially on useful insights obtained from user data (personal details, purchasing habits, etc.). As a result, this data is vulnerable to data breaches and other cyberthreats.
- Owing to there is no unique regime for these players, the legal system that governs the offline sale of pharmacies equally applies to E-Pharmacy. To safeguard the interests of customers and to act as a backbone in encouraging growth in this sector, the government must establish a separate legislative framework for E-Pharmacies in the near future.
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E-pharmacy Market Competitive Landscape
The e-pharmacy business is relatively competitive, with only a few firms now ruling the roost. CVS Health Corporation, Albertsons Companies Inc., ALTO, and Axelia Solutions (Pharmeasy) are among the market's leading players. These firms are implementing different marketing methods in order to capture a larger portion of the e-pharmacy market, as well as focusing on growing their geographic presence, particularly in developing countries with attractive potential.
E-pharmacy Market Top Players Company Profiles
- DocMorris
- Medlife International Pvt. Ltd.
- Walmart stores
- CVS Health Corporation
- Walgreen Co. (Walgreens Boots Alliance, Inc.)
- Rite Aid Corporation
- Amazon.com, Inc.
- The Kroger Co.
- Rowlands Pharmacy
- Netmeds Marketplace Limited
- 1mg Technologies Private Limited
- Walgreens Boots Alliance, Inc.
- Chemist Warehouse Group
- Apollo Pharmacy
- LloydsPharmacy Limited
- Zur Rose Group AG
- Walgreens Boots Alliance, Inc.
- SHOP APOTHEKE EUROPE N.V.
- SANICARE Group
- Phoenix Group Holdings
E-pharmacy Market Recent Developments
- In January 2022, To be radically transparent, venture capitalist Mark Cuban launched a digital pharmacy that sells more than 100 generic pharmaceuticals at low prices.
- In March 2022, Pixel by Labcorp, a (COVID-19 at-home collection kit), PCR test, was introduced by Walgreens and Labcorp, a prominent global life sciences firm. Furthermore, because Walgreens includes the kits, which are supplied in collaboration with the US Department of Health and Human Services, many communities can easily obtain testing services (HHS).
- In January 2022, WellAway ePharmacy has been launched in Singapore by Hyphens Pharma International Limited, the city-largest state's specialty pharmaceutical, and consumer healthcare company. WellAway simplifies access to pharmaceutical services for customers while also assisting doctors with teleconsultation.
E-pharmacy Key Market Trends
- One of the main trends that is driving the market is the increased demand and adoption of telemedicine. Individuals who have an affinity to IT are the ones who use telemedicine. With the help of this there is more transparency, awareness and access to several health care providers. This is one reason which is supporting the growth of the market.
- Increasing penetration of e-commerce is another trend which is augmenting growth of the market. Some medicines are only available online and therefore patients prefer door step delivery of the medicines they easily cannot find. Millennials specially rely on online procurement of OTC drugs etc.
- The rise of vitamin deficiencies among people is a factor that is boosting the growth of the market. Consumers are now aware of the importance of Vitamins and the need to include dietary supplements in their lifestyle, these factors will increase the demand for vitamins mainly through online platforms. Along with this the rise in the number of self medication practices among the people is also deemed to increase the sale of multivitamin products, because these products are easily available on ecommerce platforms, the epharmacy market will see significant growth.
E-pharmacy Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analysis, the main advantage of e-prescription is that it is simple to submit an e-prescription to an e-pharmacy website and get drugs online without any difficulty. As a result of the increased use of e-prescriptions, posting the prescription online has become simpler and less time-consuming. As a result, all of the aforementioned factors contribute to the market's growth.
According to our analysis, with increasing internet penetration, the Global E-pharmacy Market size from the e-commerce segment would expand in terms of distribution channels. Benefits such as ease of access have contributed to the rapid expansion of online purchase in India, China, and Germany. The expanding popularity of e-commerce and thriving retail businesses, which result in higher overall sales, will also fuel category growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 52 billion |
| Market size value in 2031 | USD 308.8 billion |
| Growth Rate | 19.5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on E-pharmacy Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on E-pharmacy Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the E-pharmacy Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the E-pharmacy Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the E-pharmacy Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the E-pharmacy Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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